13 May 2008 07:25
13 May 2008
For immediate release
Herencia Resources Plc
("Herencia" or the "Company")
Drilling Commenced at Paguanta Project
Herencia Resources Plc (AIM: HER), the exploration and development company with a primary focus on identifying resource opportunities in South America, is pleased to announce the commencement of its drilling programme at its 70% owned Paguanta Project in northern Chile.
One of the main targets within the project is the Patricia ('Patricia') asset which contains an Inferred Mineral Resources of 2.5Mt grading 4.1% Zn, 1.3% Pb and 77g/t Ag at a 2%Zn cut-off. These results were announced to the market last year.
The commencement of drilling at 'Patricia', using diamond drilling equipment, marks the beginning of a 10,000m programme at the Paguanta Project. The drilling programme is planned to expand and upgrade the existing 'Patricia' resource and test the major geophysical anomaly at the porphyry-copper target called 'La Rosa', located 3km to the south of 'Patricia' on the same contiguous tenement group
The first assay results are expected to be received in July/August 2008 with an updated mineral resource scheduled for general release toward year end.
Mr. James Sinclair, Exploration Manager (Chile) for Herencia, has reviewed the information contained in this announcement. Mr. Sinclair has 13 years experience in the resources sector and is a qualified person within the definition of the AIM guidelines. The mineral resource estimate complies with recommendations in the Australian Code for Reporting of Mineral Resources and Ore Reserves (2004) by the Joint Ore Reserves Committee (JORC) of the AusIMM.
Further background details on the Company and the Paguanta Project can be found at www.herenciaresources.com
Enquiries:
| HERENCIA RESOURCES PLC | |
| Michael Bohm | +61 8 9221 7466 |
| WH IRELAND LIMITED | |
| David Youngman | +44 161 832 2174 |
| PELHAM PUBLIC RELATIONS | |
| Klara Kaczmarek | +44 20 3159 4395 |
| Sergei Stephantsov | +44 20 3178 6241 |