26th Aug 2015 08:19
LONDON (Alliance News) - Herencia Resources PLC shares were trading higher on Wednesday morning after the company said it has found further high-grade copper mineralisation at the Picachos project in Chile.
Further surface sampling work carried out at the project identified high-grade copper mineralisation in a number of new areas immediately adjacent to the proposed open pit mining operations at the project.
"It is always pleasing to see consistent and extensive high grade copper values on the surface, especially when associated with deeper drilling showing mineralisation," said Managing Director Graeme Sloan.
"In many ways this latest program confirms the prospectivity of Picachos and potentially opens the door to a multiple open pit scenario which could provide the Company the all-important flexibility and optionality needed for production. This in turn could lead to better use of equipment, higher productivity and an overall lower operating cost," Sloan added.
Herencia shares were up 11% on the news to 0.1385 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Herencia Resources