25 Oct 2011 09:02
Herencia Resources plc
("Herencia" or the "Company")
Two New Potential Porphyry-Copper Targets Identified at Guamanga
Highlights:
·; Detailed surface geological mapping and sampling completed at the Guamanga Project
·; Independent geological consultants report received
·; Three priority targets identified:
1. The existing high grade copper-gold zone
2. A newly identified potential porphyry-copper target in the south-west of the property; and
3. A newly identified potential porphyry-copper target in the western part of the property
·; Significant geological indicators identified supporting the potential of these porphyry targets
Herencia Resources, a multi-commodity project development company, is pleased to provide an update in relation to its Guamanga Copper-Gold Project (Herencia earning 51%), located to the north of Copiapo in northern Chile.
Following recent geological fieldwork at Guamanga and the receipt of a detailed Geological report, prepared by an independent geological consulting group (RM Limitada), the Company is pleased to announce the identification of two potential porphyry-copper targets within the Guamanga Project area. These targets are additional to the existing copper-gold target identified by high grade assays returned from previous diamond drilling (announced on 3 February 2011).
Mapping and sampling has identified localised geological indicators and returned multiple anomalous surface assays for gold (up to 1.5g/t), copper (up to 0.4%) and molybdenum (up to 22ppm). When considered within the projects geological setting, these anomalies provide the potential for the existence of a porphyry system. The geological work recently completed on site and the subsequent report has clearly delineated two new drill targets, with a strong recommendation that they be considered for drill testing.
Herencia's Managing Director Michael Bohm commented "This is a very significant and unexpected development in our evaluation of the Guamanga Project. Our focus has been the high grade copper/gold target previously identified, which remains on schedule for drilling this quarter. To be presented with two additional drill targets with the potential to host porphyry mineralisation at Guamanga is a real bonus for the Company. This new information is being further assessed in order to consider our next steps."
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
Appendix 1 - surface sample details:
Sample | Easting | Northing | Au (g/t) | Cu (%) | Mo (ppm) |
G-1 | 362019 | 7043552 | 1.50 | - | 18 |
G-11 | 361426 | 7042204 | 0.18 | 0.40 | 16 |
G-13 | 361487 | 7042169 | 0.12 | 0.34 | 22 |
·; Sample co-ordinates in UTM Zone 19/South Hemisphere/WGS84
·; All samples assayed by Andes Analytical Assay Ltda. (Santiago, Chile) 0.5kg 95% passing 104 micron HF-HNO3-HClO4 digest and AAS (Au-AEF AAS1EE1) and ICP analysis for 39 elements (ICP AES HF39).
References in this announcement to exploration results and potential have been approved for release by Mr. Antonio Valverde (Bsc Geology Universidad Complutense de Madrid), who has more than 15 years' relevant experience in the field of activity concerned. Mr Valverde has consented to the inclusion of the material in the form and context in which it appears.
Further background details on the Company can be found at www.herenciaresources.com