18 Mar 2010 11:04
Herencia Resources plc
("Herencia" or the "Company")
Gold Assay Results - Paguanta Project
Highlights:
·; Majority of holes within the existing resource envelope intersected gold mineralisation
·; Significant gold intersections to date include:
o 8m @ 1.53g/t gold in PTRC040 (including 1m @ 3.38g/t and 1m @ 3.09g/t)
o 7m @ 1.16g/t gold in PTRC001 (including 1m @ 3.11g/t)
o 3m @ 1.02g/t gold in PTDD029
o 4m @ 0.86g/t gold in PTDD010
o 1m @ 4.57g/t gold in PTDD003
·; Potential for gold credits to enhance future Project economics
Herencia Resources Plc (AIM:HER) is pleased to provide gold assay results from drill samples within the mineralised resource envelope at the Paguanta Project in northern Chile. Numerous gold intersections are summarised as follows:
·; PTDD003 - 1m @ 4.57g/t gold from 80m
·; PTDD003 - 3m @ 0.77g/t gold from 94m (including 1m @ 1.65g/t)
·; PTDD004 - 5m @0.69g/t gold from 84m (including 2m @ 1.16g/t)
·; PTDD010 - 4m @ 0.86g/t gold from 38m (including 2m @ 1.35g/t)
·; PTDD015- 4m @ 0.78g/t gold from 217.5m
·; PTDD018 - 2m @ 0.43g/t gold from 214.5m
·; PTDD024 - 2m @ 0.44g/t gold from 193.5m
·; PTDD024 - 3.5m @ 0.41g/t gold from 204.5m
·; PTDD025 - 3m @ 0.83g/t gold from 42.5m
·; PTDD026 - 4m @ 0.51g/t gold from 118.5m
·; PTDD028 - 4.5m @ 0.42g/t gold from 24m
·; PTDD029 - 3m @1.02g/t gold from 71m
·; PTDD030 - 3m @ 0.53g/t gold from 37m
·; PTDD031 - 1m @ 0.49g/t gold from 38m
·; PTDD031 - 6m @0.66g/t gold from 125m (including 1.5m @ 1.59g/t)
·; PTDD032 - 7m @ 0.44g/t gold from 31m
·; PTDD032 - 1.5m @ 0.62g/t gold from 57m
·; PTDD032 - 1.5m @ 0.97g/t gold from 64.5m
·; PTDD034 - 2m @ 0.43g/t gold from 7m
·; PTRC001 - 3m @ 0.87g/t gold from 27m
·; PTRC001 - 7m @ 1.16g/t gold from 34m (including 1m @ 3.11g/t)
·; PTRC006 - 8m @ 0.49g/t gold from 109m
·; PTRC007 - 2m @ 0.43g/t gold from 90m
·; PTRC007 - 2m @ 0.45g/t gold from 93m
·; PTRC007 - 6m @ 0.45g/t gold from 100m
·; PTRC008 - 4m @ 0.43g/t gold from 71m
·; PTRC014 - 2m @ 0.56g/t gold from 7m
·; PTRC014 - 1m @ 0.72g/t gold from 20m
·; PTRC014 - 3m @ 0.85g/t gold from 24m (including 1m @ 1.95g/t)
·; PTRC014 - 3m @ 0.51g/t gold from 106m
·; PTRC015 - 3m @ 0.46g/t gold from 100m
·; PTRC016 - 2m @ 0.48g/t gold from 100m
·; PTRC021 - 2m @ 0.43g/t gold from 51m
·; PTRC032 - 1m @ 0.66g/t gold from 82m
·; PTRC040 - 8m @ 1.53g/t gold from 17m (including 1m @ 3.38g/t and 1m @ 3.09g/t)
·; PTRC043 - 2m @ 0.49g/t gold from 87m
·; PTRC058 - 4m @ 0.48g/t gold from 38m
·; PTRC059 - 1m @ 3.02g/t gold from 52m
·; PTRC060 - 2m @ 0.57g/t gold from 161m
·; PTRC061 - 4m @ 0.52g/t gold from 132m
·; PTRC066 - 3m @ 0.76g/t gold from 53m (including 1m @ 1.62g/t)
·; PTRC068 - 2m @ 0.53g/t gold from 10m
·; PTRC088 - 1m @ 3.55g/t gold from 47m
·; PTRC089 - 2m @ 0.53g/t gold from 63m
·; PTRC091 - 2m @ 0.64g/t gold from 125m
·; PTRC096 - 2m @ 0.43g/t gold from 80m
·; PTRC097 - 2m @ 0.42g/t gold from 30m
·; PTRC100 - 1m @ 0.56g/t gold from 15m
·; PTRC104 - 2m @ 0.62g/t gold from 12m
·; PTRC105 - 2m @ 0.53g/t gold from 76m
These results support gold assays received from drilling and bulk sampling programs undertaken in 2008. Notably, over 80% of holes drilled within the existing resource envelope have now reported gold mineralisation.
In light of these positive gold results, the Company will assay all samples from the current 2010 diamond drill program for gold (in addition to assaying for base metals). As previously advised, this drill program is targeting potential high grade extensions to the known mineralisation immediately along strike and down dip from previous holes that returned high grade zinc-lead-silver assays.
Commenting on the results, Managing Director Michael Bohm stated:
"Whilst the focus remains on zinc, lead and silver, we are very encouraged by the growing potential for a gold credit at the Paguanta Project based on the consistent broad gold intersections reported to date and the obvious potential to enhance Project economics.
We are also excited by what the significance of gold might be in terms of further geological prospectivity on our Paguanta leases, particularly given the Project is situated within one of the world's great mineralised belts. This is in addition to further depth potential at Paguanta itself and the porphyry-copper prospectivity at La Rosa located only 3km away within the same block of granted tenements."
Please refer to Appendix 1 for further drill hole details.
Enquiries:
| Herencia Resources plc | Michael Bohm | +61 8 9211 0600 |
| WH Ireland Limited | Katy Mitchell | +44 161 832 2174 |
| Hole ID | Easting | Northing | Dip/Azimuth (degrees) | From (m) | To (m) | Width (m) | Gold Grade ( g/t) |
| PTDD003 | 494166 | 7809801 | -50/180 | 80 | 81 | 1 | 4.57 |
|
|
|
|
| 94 | 97 | 3 | 0.77 |
|
|
|
|
| including 1m @ 1.65g/t | |||
| PTDD004 | 494441 | 7809562 | -52/180 | 84 | 89 | 5 | 0.69 |
|
|
|
|
| including 1m @ 1.16g/t | |||
| PTDD010 | 494325 | 7809553 | -52/180 | 38 | 42 | 4 | 0.86 |
|
|
|
|
| including 2m @ 1.35g/t | |||
| PTDD015 | 494322 | 7809718 | -60/200 | 217.5 | 221.5 | 4 | 0.78 |
| PTDD018 | 494381 | 7809738 | -60/180 | 214.5 | 216.5 | 2 | 0.43 |
| PTDD024 | 494325 | 7809563 | -70/180 | 193.5 | 195.5 | 2 | 0.44 |
|
|
|
|
| 204.5 | 208 | 3.5 | 0.41 |
| PTDD025 | 494177 | 7809714 | -45/360 | 42.5 | 45.5 | 3 | 0.83 |
| PTDD026 | 494436 | 7809690 | -76/130 | 118.5 | 122.5 | 4 | 0.51 |
| PTDD028 | 494355 | 7809530 | -45/180 | 24 | 28.5 | 4.5 | 0.42 |
| PTDD029 | 494433 | 7809547 | -45/180 | 71 | 74 | 3 | 1.02 |
| PTDD030 | 494386 | 7809532 | -45/176 | 37 | 40 | 3 | 0.53 |
| PTDD031 | 494404 | 7809529 | -45/185 | 38 | 39 | 1 | 0.49 |
|
|
|
|
| 125 | 131 | 6 | 0.66 |
|
|
|
|
| including 1.5m @ 1.60g/t | |||
| PTDD032 | 494301 | 7809551 | -45/180 | 31 | 38 | 7 | 0.44 |
|
|
|
|
| 57 | 58.5 | 1.5 | 0.62 |
|
|
|
|
| 64.5 | 66 | 1.5 | 0.97 |
| PTDD034 | 494545 | 7809568 | -45/200 | 7 | 9 | 2 | 0.43 |
| PTRC001 | 494165 | 7809833 | -60/180.7 | 27 | 30 | 3 | 0.87 |
|
|
|
|
| 34 | 41 | 7 | 1.16 |
|
|
|
|
| including 1.0m @ 3.11g/t | |||
| PTRC006 | 494435 | 7809556 | -62/178.9 | 109 | 117 | 8 | 0.49 |
| PTRC007 |
|
| -61/159.9 | 90 | 92 | 2 | 0.43 |
|
|
|
|
| 93 | 95 | 2 | 0.45 |
|
|
|
|
| 100 | 106 | 6 | 0.45 |
| PTRC008 | 494392 | 7809548 | -51/158.5 | 71 | 75 | 4 | 0.43 |
| PTRC014 | 494541 | 7809569 | -53/202.7 | 7 | 9 | 2 | 0.56 |
|
|
|
|
| 20 | 21 | 1 | 0.72 |
|
|
|
|
| 24 | 27 | 3 | 0.85 |
|
|
|
|
| including 1.0m @ 1.95g/t | |||
|
|
|
|
| 106 | 109 | 3 | 0.51 |
| PTRC015 | 494544 | 7809578 | -65/210 | 100 | 103 | 3 | 0.46 |
| PTRC016 | 494562 | 7809599 | -58/182.9 | 100 | 102 | 2 | 0.48 |
| PTRC021 | 495021 | 7809480 | -55/181.5 | 51 | 53 | 2 | 0.43 |
| PTRC032 | 494383 | 7809714 | -61/175.3 | 82 | 83 | 1 | 0.66 |
| PTRC040 | 494155 | 7809699 | -58/009.3 | 17 | 25 | 8 | 1.53 |
|
|
|
|
| including 1.0m @ 3.38g/t | |||
|
|
|
|
| and 1.0m @ 3.09g/t | |||
| PTRC043 | 494309 | 7809812 | -51/170.4 | 87 | 89 | 2 | 0.49 |
| PTRC058 | 494128 | 7809652 | -59/006.7 | 38 | 42 | 4 | 0.48 |
| PTRC059 | 494154 | 7809684 | -69/010.7 | 52 | 53 | 1 | 3.02 |
| PTRC060 | 494542 | 7809574 | -46/233.7 | 161 | 163 | 2 | 0.57 |
| PTRC061 | 494543 | 7809575 | -65/236.7 | 132 | 134 | 4 | 0.52 |
| PTRC066 | 494130 | 7809782 | -57/007.3 | 53 | 56 | 3 | 0.76 |
|
|
|
|
| including 1.0m @ 1.62g/t | |||
| PTRC068 | 494131 | 7809760 | -60/002.9 | 10 | 12 | 2 | 0.53 |
| PTRC088 | 494401 | 7809688 | -66/134.7 | 47 | 48 | 1 | 3.55 |
| PTRC089 | 494401 | 7809688 | -51/133.4 | 63 | 65 | 2 | 0.53 |
| PTRC091 | 494213 | 7809475 | -65/004.7 | 125 | 127 | 2 | 0.64 |
| PTRC096 | 494383 | 7809554 | -63/182 | 80 | 82 | 2 | 0.43 |
| PTRC097 | 494298 | 7809553 | -53/181.4 | 30 | 32 | 2 | 0.42 |
| PTRC100 | 494333 | 7809656 | -49/178.1 | 15 | 16 | 1 | 0.56 |
| PTRC104 | 494291 | 7809800 | -60/180 | 12 | 14 | 2 | 0.62 |
| PTRC105 | 494288 | 7809800 | -58/183.7 | 76 | 78 | 2 | 0.53 |
Appendix 1
Grade intersections quoted are those with average gold grade above 0.40 g/t
Meterage quoted relate to down-hole intersections
All holes assayed by ALS La Serena
Au by fire assay technique - either AAS AA24 or AAS AA23 ore grade finish
Hole ID co-ordinate grid is PSAD56 UTM Zone 19S.