17th Sep 2015 08:34
LONDON (Alliance News) - Herencia Resources PLC on Thursday said it has extended the area of the Picachos copper project in Chile after identifying four mineralised zones at the site.
The company said the four mineralised zones it has identified have high-grade mineralisation at the surface. All four are located in the central-southern area of the Picachos area and open the door for the company to pursue multiple open pit mines.
"This is really a significant step in the overall development of the Picachos project as it not only confirms the longer-term potential of the area but also the potential for multiple open pits which could be mined individually or concurrently to optimise production rates and grade control," said Managing Director Graeme Sloan.
Shares in Herencia were down 2.6% to 0.0925 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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