8th Oct 2013 07:56
LONDON (Alliance News) - Herencia Resources PLC Tuesday said it has achieved high-grade copper results in tests at its Picachos Project in Chile.
The mineral exploration-and-development company, with operations in South America, said that sampling of both shallow, surface and stockpile ore returned numerous high-grade results including one ore stockpile study which saw grades at 9.3%,16.4% and 25.2% of copper.
Herencia said its 'Frenchman Zone' stockpile also returned high grades of 4.4% copper and rock chip sampling returned a best grade of 6.4% copper.
The company said that results also returned some levels of silver and molybdenum, increasing the geological value of the site. It said it is currently progressing discussions with potential partners towards full production at the site.
Herencia shares were up 12% to 0.547 pence, putting the company in the top-10 AIM movers in early trading Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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