6th Nov 2014 09:47
LONDON (Alliance News) - Herencia Resources PLC on Thursday said the drilling programme at the Picachos copper project in Chile has started on schedule.
The Chile-focused company said the drilling programme started as expected, with a focus on the 40 metre shaft zone, where previous drilling had intersected broad high-grade copper mineralisation in multiple holes.
The group is targeting its maiden resource estimate for Picachos in the first quarter of 2015 and is targeting mine production at the site in the second half of 2015.
"Our second drill program at Picachos, commencing hot on the heels of the very successful first program, marks an important milestone for the company. The first major step toward production next year has now been taken. We believe the pace being set demonstrates management's commitment to bring Picachos into production in the second half of 2015," said Herencia Managing Director Graham Sloan.
Herencia shares were down 8.0% to 0.230 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Herencia Resources