Herencia Resources PLC Drilling Commences in Chile (3997Y)
05 December 2017 - 7:32PM
UK Regulatory
TIDMHER
RNS Number : 3997Y
Herencia Resources PLC
05 December 2017
Herencia Resources plc
("Herencia" or "HER" or the "Company")
Herencia Commences Copper Drilling Program in Chile
Herencia Resources plc (AIM: HER) is pleased to announce that it
has commenced a significant drill program on its highly prospective
Pastizal/Picachos copper field in central Chile.
The drilling program will test the newly acquired Pastizal
tenement (See Figure 3) abutting the Picachos lease and consist of
3,000 metres of Reverse Circulation (RC) drilling.
Following the recent geological review of Herencia's copper
properties Herencia has planned the drilling program to test under
the current mine workings at Pastizal, Montenegro and Pastizal
Norte as shown in green outline in Figure 3.
The geological review, conducted by Herencia's Geological
Advisor, experienced international Geologist John Holliday,
concluded that he believes significant upside exists for the
discovery of further copper mineralisation if future drilling
focuses on the 'main mineralised manto .... a cherty limestone at
the base of a sedimentary sequence above a volcanic breccia'.
Herencia is now testing that potential with this program.
Commenting on the program Chairman Mr Peter Reeve said,
"Following a period of intense restructuring and adjustment,
Herencia Resources is now getting back to the basics of drilling
and evaluating its very prospective copper properties. At a time of
rising copper prices and refocus on the junior exploration sector,
very little value has been ascribed to Herencia for these strongly
mineralised tenements in a field which is proven for returning high
grade copper drill results".
Previous drilling during 2015 in the adjoining Picachos
tenements, which hosts the same mantos mineralisation as Pastizal,
intercepted mineralisation in 28 of the 29 drillholes with broad
zones of medium grade copper interspersed with high grade copper
intercepts within the mantos zones. The full details of the 2015
drill program are set out in the annoucement dated 26 August
2015.
One of the most interesting results of this style was drilled at
the '40m Shaft' prospect (see Figure 1) where significant copper
was intersected with; PP 14019 returning;
91 metres @ 1.42% copper and 13.5 g/t silver
Including 20 metres @ 3.10% copper and 25.4 g/t silver
Herencia expects this type of mineralised pattern to be found
over several distinct areas in the tenement block
http://www.rns-pdf.londonstockexchange.com/rns/3997Y_-2017-12-5.pdf
Figure 1: High grade drill results at the 40m Shaft Prospect
Another significant success in the field was at Picachos in 2014
(see announcement dated 18 December 2014) where Diamond Drill Hole
(DDH) 14003 targetting the southern end of the Picachos deposit
(see Figure 2) successfully drilled down the dipping manto for
approximately 250m intersecting good copper grade mineralisation as
follows;
-- 27m grading 1.18% Copper (Cu) from 182m,
-- 30m grading 0.94% Cu from 213m, and
-- 51m grading 1.44% Cu from 248m and opening up deep exploration potential in that area.
DDH 14003 demonstrates that the main manto horizon has good
potential for consistent grade and regular-shaped mineralisation
and supports the geological review indicating these structures as
the main target zones for Herencia's future drilling campaigns.
Significantly, little drilling has been focussed on the chert
sequence in the Pastizal/Picachos field where XRF surface samples
grading 7.54% and 3.77% copper have been measured.
http://www.rns-pdf.londonstockexchange.com/rns/3997Y_-2017-12-5.pdf
Figure 2: High grade copper intercepts from DDH 14003
http://www.rns-pdf.londonstockexchange.com/rns/3997Y_-2017-12-5.pdf
Figure 3: Pastizal lease
http://www.rns-pdf.londonstockexchange.com/rns/3997Y_-2017-12-5.pdf
Figure 4 Picachos tenement location
http://www.rns-pdf.londonstockexchange.com/rns/3997Y_-2017-12-5.pdf
Figure 5 Picachos tenements near existing treatment plants
For further information please contact:
Peter Reeve, Herencia Resources plc +61 3 9516 6500
Jeff Williams, Herencia Resources plc +61 3 9516 6500
Katy Mitchell, WH Ireland Limited (NOMAD) +44 161 832 2174
Jon Belliss, Beaufort Securities Limited (UK) +44 207 382 8300
Further background details on the Company can be found at
www.herenciaresources.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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