26 Aug 2008 08:07
26 August 2008
Herencia Resources plc
("Herencia" or the "Company")
New High Grade Diamond Drilling Results 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 further high grade drilling results at the 'Patricia' deposit, part of its 70% owned Paguanta zinc-lead-silver project in northern Chile.
Highlights:
Recent high grade assay results from diamond drilling at the 'Patricia' deposit include:
Cathedral Vein - Diamond hole PTDD024
30m @ 7.39% Zn, 0.84% Pb and 70ppm Ag from 183m
including - 20m @ 10.45% Zn, 0.95% Pb, 86ppm Ag from 193m
including - 7m @ 16.94% Zn, 1.36% Pb, 112ppm Ag from 199.5m
PTDD024 returned 3 samples of 0.5m width greater than 30% Zn
Cathedral Vein - Diamond hole PTDD026
52.5m @ 3.82% Zn, 1.24% Pb and 80ppm Ag from 115.5m
including - 24.5m @ 6.68% Zn, 2.01% Pb, 128ppm Ag from 118.5m
including - 17m @ 8.39% Zn, 2.58% Pb, 164ppm Ag from 119m
PTDD026 returned 3 samples of 0.5m width greater than 1,500ppm Ag
Rosada Vein - Diamond hole PTDD020
5m @ 4.56% Zn, 1.25% Pb and 42ppm Ag from 51.5m
Rosada Vein - Diamond hole PTDD025
4m @ 4.60% Zn, 0.33% Pb and 20ppm Ag from 42.5m
including - 2.5m @ 6.26% Zn, 0.48% Pb, 28ppm Ag from 42.5m
Note:
Meterage quoted relates to down-hole width
A summary of these assay results is provided in Appendix 1.
High grades at Cathedral Vein
Latest diamond drilling of the Cathedral Vein has returned significant widths of high grade mineralisation at depth. Two drill holes, PTDD026 and PTDD024, located approximately 130m apart appear to have discovered a zinc rich extension to the Cathedral Vein. The vein intersection indicated by PTDD024 has an interpreted true width of 8 to 10m. PTDD026 intersected two distinct veins, separated by a stockwork zone and totaled approximately 34m true width. The holes intersected the Cathedral Vein 160m and 210m respectively, vertically beneath the outcropping mineralization.
The Cathedral Vein continues to return high-grade intersections over approximately 300m of strike length, with the deepest visible mineralisation now intersected at a vertical depth in excess of 250m.
Rosada Vein
The Rosada Vein has been confirmed from recent diamond drilling which returned intercepts of high grade mineralisation at a relatively shallow depth of approximately 25m in PTDD025 and approximately 50m in PTDD020, located 25m vertically apart on the same drill section.
Executive Director, Michael Bohm commented:
"We are very excited about the latest drill results as they are some of the highest grades and thickest intercepts reported to date from the Cathedral Vein. The drilling shows that the mineralization remains open at depth and highlights the strong resource potential and very attractive grades of our Paguanta Project".
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.
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 |
Appendix 1: Significant Drill Assay Results
| Hole ID | East | North | RL | From | Width | Grade | Comments | |||
| (m) | (m) | (m) | Zn % | Pb % | Ag ppm | Au ppm | ||||
| PTDD020 | 494,170 | 7,809,710 | 3710 | 51.5m | 5m | 4.56 | 1.25 | 42 | Rosada Vein | |
| PTDD024 | 494,325 | 7,809,563 | 3765 | 183.0m | 30m | 7.39 | 0.84 | 70 | Cathedral Vein | |
| Including | 193.0m | 20m | 10.45 | 0.95 | 86 | |||||
| Including | 199.5m | 7m | 16.94 | 1.36 | 112 | |||||
| Including | 200.5m | 4m | 20.56 | 1.24 | 123 | |||||
| PTDD025 | 494,170 | 7,809,710 | 3710 | 42.5m | 4m | 4.60 | 0.33 | 20 | Rosada Vein | |
| Including | 42.5m | 2.5m | 6.26 | 0.48 | 28 | |||||
| PTDD026 | 494,440 | 7,809,560 | 3770 | 115.5m | 52.5m | 3.82 | 1.24 | 80 | Cathedral Vein | |
| Including | 118.5m | 24.5m | 6.68 | 2.01 | 128 | Cathedral Upper Lense | ||||
| Including | 119m | 17m | 8.39 | 2.58 | 164 | |||||
| Including | 119m | 5m | 13.10 | 8.01 | 492 | 0.44 | ||||
| Including | 155.5m | 9m | 1.91 | 0.94 | 61 | Cathedral Lower Lense | ||||
Drill Intersections based on >2% Zn cut off grade
All holes assayed by ALS La Serena 1kg 90% passing 75 micron HF-HNO3 - HClO4 digest
AAS AA26 ore grade finish DL - Pb 0.01-30%, Zn 0.01 -30% Ag 1-1500ppm,
AAS AA24 ore grade finish Au 0.01 - 10ppm Au DL fire assay
Samples that returned assays above upper detection limits are reported at that upper detection limit
Re-analysis of high-grade silver underway
Hole ID co-ordinate grid is PSAD56 UTM Zone 19S.
Meterage quoted relates to down-hole intersections