www.herenciaresources.com
Herencia Resources plc is a resources company listed on the Alternative Investment Market (‘AIM’) of the London Stock Exchange with a focus on developing the Paguanta Project in northern Chile and advancing other project opportunities with the aim of adding value for shareholders.
The Paguanta Project comprises the Patricia zinc-silver-lead-gold Mineral Resource and the Doris copper-silver and La Rosa copper targets. The Total Mineral Resource at Patricia stands at 3.5Mt at 4.6%Zn, 1.46%Pb, 93g/t Ag and 0.23g/t Au (2% Zn cut-off).
During 2011 Herencia plans to undertake a Feasibility Study into the Patricia Mineral Resource and complete 15,000m of diamond drilling at Patricia, Doris and La Rosa. The Company is also actively pursuing quality JV opportunities within South America.
Herencia has the backing of some major resources identities including Nyrstar, the world’s biggest zinc smelting group, who hold 10% equity in Herencia.
Herencia Resources Says Next Phase of Drilling Will Start In Early 2010 At Paguanta Zinc-Silver-Lead-Gold Project
Herencia Resources PLC (AIM: HER) said it is re-establishing its Paguanta project site in Chile for a new drilling program which it expects to complete in May 2010. The AIM listed mineral exploration and development company hopes to reach the feasibility study phase by H2 2010.
The Paguanta zinc-silver-lead-gold project Northern Chile is the company’s primary focus. The junior exploration company hired resources consulting firm Runge Limited which completed the design for the project’s next drilling program.
“Our goal is to have the actual drilling component completed in May 2010, with all assay results back and the mineral resource estimate updated by mid-year” commented Michael Bohm, Herencia MD, “Subject to the drilling results extending the previously identified high grade zones, we would be looking to potentially commence a feasibility study phase during the second half of 2010."
The program will consist of up to 15 diamond drill holes totalling approximately 3,500m, targeting potential extensions to the mineralisation immediately along strike and down dip of 2008’s high grade assay results.
Herencia is in the process of sourcing Chile operating drilling contractors, with two of the applicants having previously completed successful drilling programs at Paguanta, under past work programs. The diamond drill rig is expected to be mobilised in late January 2010, allowing drilling to commence in early February. First sample assay results could be available at the end of March or early April.
Additionally the AIM listed resource company at an advanced point in recruiting for the core field team and the appointment of two experienced Geologists to oversee the program.
