30 Jan 2006 13:16
Herencia Resources PLC30 January 2006 Herencia Resources plc Exploration Update Highlights Iquique project - Chile - Initial surface mapping and preliminary soil sampling at Iquique hasidentified a priority target zone of intensively fractured porphyritic intrusiverocks mineralized with copper and silver - The target area has been mapped at surface and estimated to measuremore than 600 metres by 200 metres by 100 metres. - Earlier sampling by other parties of the larger mine dumps in thetarget area has indicated a potential of up to 2.2% copper with 86 grams pertonne silver. - The assayed results of the current dump sampling program are pending. - The size and grades of this mineralisation will be further defined bya drilling program which has been contracted to begin on February 6th Background of Herencia Resources Plc in Chile Herencia Resources Plc (Herencia) commenced fieldwork in Chile on 28 November2005 subsequent to the shareholders meeting approving the acquisition ofTarapaca Resources Group (please refer to detailed announcement of 24 October2005). The acquisition of Tarapaca Resources gave Herencia the opportunity to earn a70% interest in 2 highly prospective silver districts in Chile, both of whichhave never been drilled or explored using modern systematic explorationtechniques. Iquique Project The Iquique project area covers secured tenements over approximately 97 km2 onthe coast of northern Chile. This mineral field contains numerous old silverworkings dating back to the Inca Empire and the Spanish colonial era. Thisproject area covers almost the entire Iquique mining district, which in the 19thCentury, with over 60 operating mines, was the second largest silver producer inChile. The initial focus of our exploration team has been the mapping and sampling ofthe numerous old silver mines within the project area. Regional work has alsobeen done to establish a much more contemporary understanding of the geologicalsetting of the project area. A drilling rig has been booked to begin work in early February 2006 whereinitial activity will focus on following up some of the more interesting leadsidentified by the sampling programs. Paguanta project The Paguanta Project is located on the northern trend of the main Chileanporphyry copper belt, approximately 120km east of the coastal port of Iquiqueand 20 km south of highway to Bolivia. An access road has recently beenre-established to enable our geologists to commence stream and soil samplingtogether with ground magnetic surveys. Paguanta has old workings which provide known drill targets and additionally ourgeologists have identified a number of other high order targets of potentialdisseminated base and precious metal mineralization that will be drilled when arig can be contracted for the area. Further background detail on the Iquique and Paguanta projects can be found inAIM announcement 21 November 2005. **ENDS** Contacts: Tony Barton +618 9325 8888 This information is provided by RNS The company news service from the London Stock Exchange