29 Apr 2013 07:00
Herencia Resources plc
("Herencia" or "the Company")
Herencia Achieves Another Key Milestone
at Paguanta
Herencia Resources plc is pleased to announce another key milestone has been achieved for the Paguanta Project ("the Project") after the signing of a Community Relations Agreement (the "Agreement") with the Cultane Community in relation to its silver-zinc-lead project in northern Chile.
The Cultane community is located approximately 25km by road north-east of Paguanta and is one of the closest communities to the Project. In recent years, a number of the Cultane community members have been employed by the Company in various roles at the project site. This agreement will expand on this relationship and will form the basis of an ongoing community relations program.
The Agreement will see the Company undertake a number of community based initiatives including repairs to the Community Centre damaged by snowfall in 2011, supporting the management of wetlands near the Cultane community, improving the access road into Cultane and the acquisition of a community passenger vehicle. The Agreement will see the Cultane community support ongoing development of the Paguanta Project, future exploration activities and active participation in the development of the Environmental Impact Study.
The Agreement will also see the Company work closely with the Cultane community to develop long term cooperation in the areas of employment, education and the environment.
Herencia's Managing Director, Graeme Sloan, stated: "I believe this Agreement is a blueprint for ongoing community relations and clearly demonstrates our philosophy of working with local communities to achieve a win-win scenario for all.
We have a long established connection with the Cultane community with regard to employment of personnel and this Agreement builds on that connection. We see the signing of this Agreement as a first step in formalising our relationship with the local communities, as we advance the Paguanta Project toward mine development."
About Herencia
Herencia Resources plc, an AIM quoted exploration and development company operating in Chile. The Paguanta Project ("the Project"), which is 70% owned and managed by Herencia, is a high grade silver-zinc-lead deposit (named "Patricia") located in northern Chile. The Company is currently advancing the project with the aim of commencing construction next year with the goal of being in production in 2014.
Project Location
The Project is located in the north of Chile approximately 190 kilometres north-east of the coastal city of Iquique and 30 kilometres west of the Chile-Bolivia border. The Project is in the Andes, 3,400 to 3,700 metres above sea level, on the north end of the Oligocene Porphyry Copper Belt of Chile that includes the world class deposits of Escondida, Chuquicamata, Collahuasi and Cerro Colorado. Cerro Colorado is a large operating copper mine, operated by BHP Billiton, and is located approximately 35 kilometres south of Paguanta.
For further information, please contact:
Graeme Sloan, Herencia Resources plc +61 8 9481 4204
Katy Mitchell, WH Ireland Limited +44 161 832 2174
Simon Courtenay/Abigail Genis, Broker Profile +44 207 448 3244
Further background details on the Company can be found at www.herenciaresources.com