20th Oct 2014 06:57
LONDON (Alliance News) - Herencia Resources PLC on Monday said it has awarded the drilling contract for the Picahos copper project in Northern Chile and said it remains on track to hit its production target for 2015.
Herencia has hired AC Perforaciones, a Chile-based drilling company, to handle the work, which will include reserve circulation drilling and diamond drilling at the site. It is set to start the work in November.
It said up to 4,500 metres it to be drilled at Picachos and said it is targeting a maiden mineral resource estimate in the first quarter of 2015.
"Once this work is completed we will be in a position to collate all the assay and geological data to construct a geological model and look to produce a mineral resource estimate for the Picachos Project. This will then be used as the basis of the Mine Feasibility Study, looking to optimise and schedule open pit mine production from Picachos," said Herencia Managing Director Graeme Sloan.
By Sam Unsted; [email protected]; @SamUAtAlliance
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