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Additional Information
Market: AIM
Sector: General Mining - Zinc, Lead and Tin
EPIC: HER
Latest Price: 1.58p  (6.76% Ascending)
52-week High: 3.38p
52-week Low: 1.40p
Market Cap: 24.05M
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Herencia Resources
www.herenciaresources.com

Herencia Resources plc is a multi-commodity development company listed on the Alternative Investment Market (‘AIM’) of the London Stock Exchange with a primary focus on developing its Paguanta Project in northern Chile. Herencia is progressing a Feasibility Study into the proposed Patricia Mine (zinc, silver, lead) within the Paguanta Project, with the goal of bringing the mine into production. Herencia is also focused on advancing exploration work on the Doris copper-silver prospect and the La Rosa porphyry-copper target in 2012. Herencia is also earning a 51% interest of the exciting Guamanga Copper-Gold Project in Chile. The Project has two components: a shallow, high grade copper-gold oxide target; and deeper, potential porphyry targets. Herencia has the backing of the global zinc group Nyrstar.

Full Herencia Resources profile here
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Herencia Resources plans to test deeper targets at Guamanga copper-gold project

9th Jan 2012, 11:39 am by Jamie Ashcroft Herencia Resources plans to test deeper targets at Guamanga copper-gold project

Herencia Resources (LON:HER) told investors that it has confirmed the existence of deeper drill targets at the Guamanga copper-gold project in northern Chile.

It is now planning to test these deeper targets through drilling in the current quarter.

The company also confirmed that its shallower drill programme has now been completed. Meanwhile at the flagship Paguanta zinc-silver project work is continuing on the feasibility study.

"Progress on both our Paguanta zinc-silver Project and Guamanga copper-gold Project in Chile has been excellent.  The Feasibility Study at Paguanta is progressing well,” said managing director Michael Bohm.

“We are particularly excited with the results of the recent geophysical work at Guamanga, which has provided clear targets for deeper drill testing, and with the prospect of receiving the assay results during February from the recently completed shallow drilling program at Guamanga.” 

Herencia has a 51 per cent stake in Guamanga. In December a shallow drill programme targeted high grade copper-gold targets. Eleven (11) diamond drill holes were complete. 

These holes were drilled to depths between 60 to 122 metres, and a total of 1,048 metres were drilled.  It said that the drill core has been logged and has now been dispatched for assaying.  The results are due next month.

Meanwhile at the Paguanta project Herencia has now complete the process plant design and layout. And detailed mine planning phase is expected to start this month.

Also during the coming months Herencia will carry out follow-up dense media separation (DMS) testwork on drill core samples from the Patricia part of the deposit. 

This work will consider varying the crush size on the DMS feed.   

Herencia explained that DMS is not currently being considered for the base case processing option, but it continues to look at various opportunities to optimise operating costs, tonnage, grade and plant throughput.

Additionally Herencia said that it will look to re-drill a deep diamond hole at the La Rosa prospect this year. The previous hole was suspended at a depth of 292 metres because of adverse conditions in the hole.

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