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Herencia Resources Plc.
Herencia Resources plc is a mineral exploration and
development company listed on AIM in February 2005 with a primary focus on
developing its Paguanta zinc-silver-lead-gold Project in Northern
Chile.
Herencia recently completed a Mineral Resource Estimate
boosting the metal content estimate of zinc, lead and silver by 64%, 51% and
72% respectively (4% zinc cut-off) and completed a Feasibility Study in 4Q 2010
with the goal of bringing the deposit into production by 4Q 2012.
The resource estimate for the Paguanta
Zinc-Lead-Silver-Gold Project in Northern Chile
highlighted the following:
• Total Mineral Resource Estimate of:
o 5.51 Mt @ 3.5% Zn, 1.2% Pb, 75 g/t Ag & 0.2 g/t Au (at
0% Zn cut-off)
o 3.51 Mt @ 4.6% Zn, 1.5% Pb, 93 g/t Ag & 0.2 g/t Au (at
2% Zn cut-off)
o 1.42 Mt @ 7.7% Zn, 2.4% Pb 146 g/t Ag & 0.3 g/t Au (at
4% Zn cut-off)
• Significant increase to tonnage, grade and metal content
at Paguanta
• Gold grade estimation included for the first time to
provide possible revenue credit
• Mineralisation remains open in all directions
Recent surface sampling nearby at the 'Doris'
Prospect returned high grade assays of copper (up to 4.5%) and silver (up to
617g/t) from Chrysocolla mineralisation, a secondary mineral which may occur in
the oxidised zones of copper deposits.
Herencia has the backing of some major resources identities
including the global zinc group Nyrstar, in addition to some well known London institutional
groups. Website to Herencia Resources plc http://www.herenciaresources.com/
Mike Bohm (MD) uses proceeds from sale of 6m shares to exercise 12.5m share options - to achieve a net increase in overall holding to circa 27m (2.16%) COMPLETED 18.01.11
Feb- Doris Geophysics COMPLETED 03.02.11
Herencia has entered into a non-binding Memorandum of Understanding (MOU), to potentially aquire a 51% controlling interest in a new copper-gold opportunity in Chile (11.2 sq-km area – potential IOCG Iron Oxide Copper Gold system). COMPLETED 03.02.11
Feasibility study work ('Golder Associates') - Preliminary metallurgical samples for the Feasibility Study are to be dispatched to the laboratory in Canada COMPLETED 18.04.11
Mar - Mobilise 1st drill rig to site - begin Doris drilling ('Major Drilling') - COMPLETED 07.03.11
Q2 Apr – Doris drilling COMPLETED 18.04.11
Final fiscal results for 12 months ended 31 December 2010 and Notice of AGM - ISSUED 19.04.11
Move 1st drill rig to begin La Rosa drilling ('Major Drilling') - COMPLETED 18.04.11
May – First drill assay results from Doris COMPLETED 09.05.11 (Final assay results due early June)
Finalisation of JV agreement to acquire 51% interest in new copper-gold opportunity and confirmation of project details TARGET 21 DAYS FROM 09.05.11 (Target 30th May)
Drilling of Metallurgical sample holes at Patricia for feasibility study COMMENCED 09.05.11
Geotechnical and Sterilisation drilling to commence
Mobilise ‘multi-purpose’ Drill Rig to site - begin infill drilling at Patricia (Following permitting)
Early June - Final drill assay results from Doris / Confirmation and details of new JV IOCG Project
First half of June - First drill assay results from La Rosa / Surface sampling results from new surface copper-oxide outcropping SW of La Rosa / First drill assay results from drilling to "potential new vein At eastern end of Patricia"
Q3 Jul - Progress update on infill drilling at Patricia
IOCG Project - commencement of geophysics
Aug - Final drill assay results from Patricia
Sept – IOCG Project - finalisation of geophysics and confirmation of drilling
Q4 Oct – IOCG Project - Commence drilling
Updated JORC mineral resource estimate incorporating drill results from infill Patricia, Doris and La Rosa
Nov – IOCG Project – Drilling results
Completion of feasibility study, incorporating updated mineral resource from Patricia, Doris and La Rosa, and DMS results
Dec - Project update
Corb notes:-(summise)
Herencia are carrying out further drilling at Patricia too, so expect some more
RNS's on Patricia), and to add to the above if all veins increase by only 11%
(all veins are open along strike and in particular down dip) from Patricia we
could see a 100% increase in the resource before we even get a resource from:
Doris and La Rosa and Source of mineralisation (if not from above) which
Herencia have said they will look for and suspect the source is from la rosa -
also the obvious 300 metre ""walk up"" drill target that is
located at doris as well as the 403/404pdf on web.
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status. Herencia is a mineral exploration and development company and is not
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