25th Nov 2015 08:19
LONDON (Alliance News) - Herencia Resources PLC on Wednesday said it has secured further high grade copper results from the Montenegro mine at the Pastizal project in Chile.
Herencia said the high-grade results have confirmed the extensive nature of the mineralisation at the project and the latest sampling work result in zones of wide high-grade mineralisation being found.
To date, grades of up to 2.8% copper have been achieved from surface sampling, with grades of up to 5.9% from underground sampling.
The project is immediately adjacent to Herencia's existing Picachos project and Herencia said a formal option agreement to acquire the Pastizal site from its current owner is expected to be finalised very soon.
"The results achieved from sampling at the Montenegro Mine clearly support not only the logic behind our pending acquisition of the Pastizal tenement, but also our belief in the huge potential of the Picachos Project," said Herencia Managing Director Graeme Sloan.
Herencia shares were up 6.7% to 0.08 pence on Wednesday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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