Herencia Resources
Herencia Resources plc is a resources company listed on the Alternative Investment Market (‘AIM’) of the London Stock Exchange with a focus on South America.
The Company has the advanced zinc-lead-silver-gold Paguanta Project in northern Chile. An initial drilling program in 2006 confirmed a significant mineralised zone. Following a second drilling campaign in mid-2007, Herencia announced an Inferred Mineral Resource of 2.5Mt at 4.1%Zn, 1.3%Pb and 77g/t Ag (2% Zn cut-off). In 2008 the Company undertook an additional 10,000m of drilling and followed up with a Scoping Study which was completed in December 2008.
Herencia aims to progress Paguanta toward development in the near term. A diamond drill program is scheduled to commence in early 2010 and subject to the results from that drilling it is planned to move the project into a Feasibility Study phase in 2H2010.
Herencia sees little impact from shareholder CopperCo’s voluntary administration
Herencia Resources PLC said it sees little impact from shareholder CopperCo Ltd entering voluntary administration last week
CopperCo holds 279,400,000 shares in Herencia, representing approximately 46 percent of the issued share capital of the company. It said the status of CopperCo should not adversely impact the day to day operations of Herencia.
Herencia has no debt or funding obligations in relation to CopperCo and only a limited commercial relationship with CopperCo that currently includes some administrative support in the company's Perth office, it said.
Herencia currently has £750,000 in funds available and is on track with its strategy of completing a scoping study for the Paguanta project in Chile by the end of 2008. As reported earlier, the company has conducted a full budget review and subsequently reduced all non-essential expenditures and personnel numbers and placed the project site on care and maintenance.
A decision on the 2009 project program will be made early in the new year after the scoping study is completed and will be reported in due course.
Herencia Resources PLC is an AIM-listed development and exploration company with a primary focus on developing mineral resource opportunities in South America.
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Other Herencia Resources articles
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26/02/10 Herencia Resources starts diamond drill programme at Paguanta zinc-silver-lead-gold project
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15/04/09 Herencia Resources is moving forward in Chile
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10/12/08 Proactive Investors Talks to Michael Bohm of Herencia Resources
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22/10/08 Herencia Resources – Hitting targets and moving towards development
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02/11/07 Herencia Resources' Paguanta Zinc-Silver Lead project shaping up nicely
Other Herencia Resources news
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08/03/10 Herencia Resources finds new mineralised vein at Paguanta Zinc-Lead-Silver-Gold project
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02/03/10 Herencia Resources says drilling at Paguanta in Northern Chile unaffected by quake
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13/01/10 Herencia Resources hires contractor for drilling at Paguanta zinc-silver-lead-gold project in Chile
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18/12/09 Herencia Resources' Michael Bohm talks about developing a low risk zinc-silver-lead project in Chile
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03/12/09 Herencia Resources Says Next Phase of Drilling Will Start In Early 2010 At Paguanta Zinc-Silver-Lead-Gold Project
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19/10/09 Herencia Resources raises £1.37 million for Paguanta Zinc project, drilling to commence in early 2010
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06/10/09 Herencia gears up for next drilling programme at Paguanta, looks to cut costs
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09/09/09 Herencia Resources secures remaining licenses for Paguanta project
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08/09/09 Upbeat outlook and higher zinc price drives Herencia Resources up in early trade
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19/01/09 Herencia Resources appoints Michael Bohm as Managing Director