Herencia Resources
The Company has an advanced zinc-lead-silver Project (Paguanta) in northern Chile. Following a successful drilling program in 2008, Herencia announced an upgraded Indicated and Inferred Mineral Resource of 3.15Mt at 3.9%Zn, 1.3%Pb and 74ppm Ag (at 2% Zn cut-off). Included in that Resource was a high grade component of 1.01Mt at 6.6%Zn, 2.2%Pb and 119ppmAg (at a 4%Zn cut-off).
Herencia aims to progress Paguanta toward development, with a Scoping Study currently being managed by Golder Associates due for completion in December.
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.
Other Herencia Resources articles
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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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23/12/08 Herencia Resources completes scoping study at Paguanta Zinc-Lead-Silver Project
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08/12/08 Hoodless Brennan thinks Herencia Resources well placed to recover from commodities woes
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20/10/08 Herencia Resources upgrades resource for Paguanta Zinc-Lead-Silver Project
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25/09/08 More high grade intercepts for Herencia Resources
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17/09/08 Excellent results push Herencia Resources' shares higher
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26/08/08 Herencia Resources Climbs on New High Grade Drilling Results at Paguanta Project
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19/08/08 Herencia Resources confirms high grades at depth at Paguanta
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22/07/08 Herencia Resources releases solid results from Paguanta Project in Chile
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01/07/08 Herencia emboldened by positive metallurgical results
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13/05/08 Herencia starts new drilling program at Paguanta








