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26 Feb 2010 09:15
26 February 2010
Herencia Resources plc
("Herencia" or the "Company")
Project Update - Paguanta Project
(zinc-silver-lead-gold Project in Chile)
Highlight:
·; Commencement of diamond drill program at Paguanta Project
·; Program on target for update to Mineral Resource Estimate by mid-2010
Herencia Resources Plc (AIM: HER) is pleased to provide an update on its Paguanta zinc-silver-lead-gold Project in northern Chile:
·; The drill program has now commenced at Paguanta with the works being carried out by specialist contractor, Major Drilling.
·; The program, consisting of approximately 3,500m of diamond drilling, will target potential high grade extensions to the known mineralisation immediately along strike and down dip of the holes that returned high grade assay results in the previous drilling program in 2008.
·; The drill program remains on target to receive first assay results in April 2010. The drilling program will likely run until May, with all assay results planned to be returned by June 2010.
·; All previous samples from within the existing mineral resource envelope have now been submitted to the laboratory for gold analysis. Previously, only samples with silver grades in excess of 50ppm were assayed for gold. It is anticipated that these gold assay results will be available in mid-March 2010.
Commenting on the update, Managing Director Michael Bohm stated:
"We remain on track to achieve our goal of completing our drilling program by May, receiving assay results regularly between April and June and delivering an update to our Mineral Resource Estimate by mid-2010. The results of this will form the basis for making a decision on moving to a Feasibility Study phase in the second half of 2010."
Enquiries:
|
Herencia Resources plc |
Michael Bohm |
+61 8 9211 0600 |
|
WH Ireland Limited |
Katy Mitchell |
+44 161 832 2174 |
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