11th Jun 2014 07:38
LONDON (Alliance News) - Herencia Resources PLC Wednesday said it has received more high-grade drill results from the Picachos drill programme in Chile, continuing to confirm broad zones of high grade copper mineralisation at shallow depths.
The Chile-focused mineral exploration and development company said laboratory assay results from the most recent drilling includes a 45 metre space at 1.70% copper from 95 metres in depth at the PP14022 hole and an 11 metre space at 1.20% copper from 72 metres depth at the PP14027 hole.
The company reiterated that following a range of strong results, the potential for several near surface zones of copper mineralisation with high grades and significant widths could support open-pit type mining operations, and the site is near to a number of operating copper processing plants that could provide near-term toll treatment opportunities.
Herencia Resources said its drilling programme on the site has now been completed, the drilling rig has been demobilised, and it expects final results to be provided by the end of June.
Last week, the company said it fround a range of very strong copper results at shallow depths from Picachos drilling, including a 91 metre space at 1.42% copper grades from 19 metres depth and a 20 metre space at 3.10% copper grades from 76 metres depth from its PP14019 hole.
Herencia Resources shares were up 7.4% to 0.537 pence, putting it in the top ten AIM ALL-Share risers during early trading on Wednesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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