4 Aug 2011 11:15
Herencia Resources plc
("Herencia" or the "Company")
More high grade results at Paguanta
Highlights:
·; Further high grade assay results from Patricia drilling.
·; Diamond drill hole PTDD065 returned results of 9.5m at 3.5% zinc, 3.0% lead, 103g/t silver & 0.20g/t gold from 34m depth, including:
o 1m at 7.0% zinc, 6.8% lead 247g/t silver & 0.3g/t gold from 34m, and
o 1m at 13.3% zinc, 6.2% lead 228g/t silver & 1.12g/t gold from 42.5m
·; Feasibility Study work being progressed.
Herencia Resources, a multi-commodity project development company, is pleased to provide an update in relation to its Paguanta Project (Herencia 70% owner) and the Guamanga Project (Herencia earning 51%), located in northern Chile.
Patricia (Paguanta):
·; As of 2 August 9,513m of drilling had been successfully completed at Paguanta.
·; Results from diamond drill hole PTDD063 (Cathedral Vein):
o 2.4m at 7.1% zinc, 1.5% lead, 72g/t silver and 0.19g/t gold from 202m
·; Results from diamond drill hole PTDD065 (Camp Vein):
o 9.5m at 3.5% zinc, 3.0% lead, 103g/t silver & 0.20g/t gold from 34m depth, including:
§ 1m at 7.0% zinc, 6.8% lead, 247g/t silver & 0.3g/t gold from 34m, and
§ 1m at 13.3% zinc, 6.2% lead, 228g/t silver & 1.12g/t gold from 42.5m
o 4.5m at 5.5% zinc, 2.5% lead, 120g/t silver & 0.18g/t gold from 52.5m depth
·; Six of seven large PQ-diameter metallurgical diamond drill holes have been completed.
·; The first batch of 2011 drill core has been sent to the laboratory in Canada in readiness for the next round of metallurgical testwork, set to commence by month end.
·; Geotechnical drilling of the proposed underground mining areas continues, including core orientation and packer testing.
·; Installation of baseline monitoring stations in progress on site and at one of the communities located approximately 14km from the Project site.
·; Community consultation meetings have commenced with local communities.
·; Detailed topographic survey work is scheduled for commencement in late August for completion in September.
·; A well qualified Administration Manager has been recruited for our Santiago office.
Guamanga:
o Geological work continues on site prior to commencement of a geophysical programme.
o Drilling contractor has provisionally confirmed rig availability for a proposed drill programme scheduled for Guamanga for the fourth quarter 2011.
Herencia's Managing Director Michael Bohm commented "We continue to intersect high grades in our current drilling campaign. With our exposure to both base metals and precious metals - including zinc, silver, lead, copper and gold - Herencia remains well placed for project advancement. Whilst the global economy remains uncertain, the team in Chile remains focused on advancing our projects. "
For further information, please contact:
Michael Bohm, Herencia Resources plc | +61 8 9481 4204 |
Katy Mitchell, WH Ireland Limited | +44 161 832 2174 |
Simon Courtenay, Broker Profile | +44 207 448 3244
|
References in this announcement to exploration results and potential have been approved for release by Mr Michael Bohm (BAppSc Mining Engineering WASM) and Mr Antonio Valverde (Bsc Geology Universidad Complutense de Madrid), both with more than 15 years' relevant experience in the field of activity concerned. Mr Bohm is a Member of the Australasian Institute of Mining and Metallurgy. Both Mr Bohm and Mr Valverde have consented to the inclusion of the material in the form and context in which it appears.
Appendix 1 - Assay Results from Patricia Drilling:
(All widths stated above are down-hole intersections)
Hole ID | Easting | Northing | Dip/Az. (degrees) | From (m) | To (m) | Width Down-hole (m) | Zinc Grade (%) | Pb Grade (%) | Silver Grade (g/t) | Gold Grade (g/t) |
PTDD059 | 494942 | 7809421 | -50/095 | 113.07 | 115.05 | 1.98 | 0.60 | 0.20 | 23 | |
PTDD060 | 494942 | 7809421 | -65/085 | 98.50 | 99.50 | 1.00 | 0.80 | 0.90 | 107 | |
129.50 | 131.00 | 1.50 | 0.62 | 0.28 | 27 | |||||
PTDD061 | 494310 | 7809812 | -45/176 | 35.50 | 37.50 | 2.00 | 2.24 | 0.41 | 36 | |
45.00 | 49.95 | 4.95 | 1.83 | 1.22 | 114 | 0.11 | ||||
PTDD063 | 494224 | 7809663 | -54/179 | 142.00 | 143.00 | 1.00 | 1.07 | 0.16 | 10.3 | 0.05 |
202.00 | 204.40 | 2.40 | 7.07 | 1.54 | 72.4 | 0.19 | ||||
PTDD064 | 494250 | 7809755 | -47/310 | 30.00 | 34.00 | 4.00 | 2.42 | 0.33 | 40.3 | 0.13 |
PTDD065 | 494227 | 7809782 | -45/149 | 34.00 | 43.50 | 9.50 | 3.48 | 3.00 | 103.2 | 0.20 |
inc. 1.00m @ 7.05% Zn, 6.77% Pb, 247g/t Ag and 0.30g/t Au from 34m | ||||||||||
and 1.00m @ 13.30% Zn, 6.20% Pb, 228g/t Ag and 1.12g/t Au from 42.5m | ||||||||||
52.50 | 57.00 | 4.50 | 5.55 | 2.54 | 120.04 | 0.18 | ||||
PTDD066 | 494298 | 7809692 | -50/185 | 68.00 | 70.00 | 2.00 | 3.10 | 0.71 | 89.70 | 0.11 |
189.20 | 193.00 | 3.80 | 1.38 | 0.16 | 18.40 | 0.06 | ||||
PTDD073 | 494550 | 7809600 | -54/180 | 241.00 | 261.00 | 20.00 | 3.00 | 1.40 | 80 | |
inc. 6.00m @ 5.9% Zn, 2.6% Pb, 144g/t Ag and 0.12g/t Au from 253m | ||||||||||
·; All samples assayed by ALS Laboratory Group, Chile
·; Crushing all sample 70% < 2mm; quirting to 1 Kg; and powdered 85% < 75 µm
·; Zn-Pb-Ag-ME ICP41 method or AA46 ore grade for Pb 0.01-30%, Zn 0.01 -30% Ag 1-1500ppm
·; Au-AA23 ore grade finish Au 0.005 - 10ppm Au fire assay
·; Hole ID co-ordinate grid is PSAD56 UTM Zone 19S
Further background details on the Company can be found at www.herenciaresources.com