19th Jan 2015 11:46
LONDON (Alliance News) - Herencia Resources PLC said Monday that results from its recently completed drill programme at its Picachos Copper project in Chile show a continuation of high grades, and it plans to deliver a maiden resource for a 40 metre shaft area shortly, from which it will develop a mine plan.
The company said that although only a small area from around the shaft area has been drilled to date, the number of high grade results from the drilling "is impressive."
"Whilst the resource estimate will be released shortly, it is evident from the geological model that with minor amounts of additional drilling it is highly likely the upcoming resource could be expanded significantly," the company said in a statement.
The company said that work on its Picachos feasibility study is progressing to schedule, and a mineral resource estimate is scheduled for completion within a matter of weeks.
Shares in Herencia Resources are trading up 15.8% at 0.220 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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