19th Aug 2008 11:22
19 August 2008
Herencia Resources plc
("Herencia" or the "Company")
Latest Drilling Returns High Grades at Depth at Paguanta
Herencia Resources Plc (AIM: HER), the exploration and development company with a primary focus on identifying resource opportunities in South America, is pleased to announce continued positive drilling results at the 'Patricia' deposit, part of its 70% owned Paguanta zinc-lead-silver project in northern Chile.
Operational Highlights
Mineralised veins extended with high grades at depth at 'Patricia'
Drilling commenced at 'La Rosa' porphyry-copper prospect
Golder Associates appointed to undertake Scoping Study
Drilling at 'Patricia' deposit
The current 10,000m Diamond and Reverse Circulation ('RC') drilling program at 'Patricia' is well advanced, with approximately 8,800m drilled. Assay results have been positive so far with high grade intercepts in all veins. A summary of significant assay results received to date is provided in Appendix 1.
High grade assay results returned from drilling at the 'Patricia' deposit include:
Cathedral Vein - RC hole PTRC079
9m @ 6.64% Zn, 1.38% Pb and 81ppm Ag from 158m
Cathedral Vein - Diamond hole PTDD019
10.5m @ 6.52% Zn, 2.26% Pb and 97ppm Ag from 160m
including - 3.5m @ 12.89% Zn, 4.87% Pb, 202ppm Ag from 162.5m
Central Vein - Diamond hole PTDD015
6m @ 9.86% Zn, 4.77% Pb and 349ppm Ag and 0.67 ppm Au from 216.5m
including - 2m @ 15.47% Zn, 4.32% Pb, 411ppm Ag and 0.57ppm Au from 220.5m
Camp Vein North-West (newly identified) - Reverse circulation hole PTRC066
4m @ 4.69% Zn, 1.98% Pb and 170ppm Ag from 52m
including - 2m @ 8.57% Zn, 3.66% Pb, 366ppm Ag and 1.08ppm Au
Note: meterage quoted relates to down-hole width.
Central and Cathedral Veins Significant Intercepts at Depth:
Drilling of both Central and Cathedral Veins has returned mineralised widths of high grade sulphides at depth. Diamond drilling of Central Vein in PTDD015 has shown high grade continuity at depth, whilst RC drilling of Cathedral vein in PTRC079 has also returned high grade mineralisation at depth. This bodes well for the high grade continuity of both veins at depth below the existing resource.
Newly identified Camp Vein NW:
At Camp Vein NW a new vein has been identified, dipping to the south east, 40m from the nearest known mineralization. RC drill hole PTRC066 has intersected the new vein returning high zinc, lead and silver grades at a relatively shallow depth and included gold mineralisation.
Drilling at La Rosa
Drilling of the 'La Rosa' porphyry-copper target, located 3km to the north of 'Patricia' on the same tenement group, has commenced with a diamond drill hole underway and RC drilling to follow. Drilling at La Rosa is scheduled for completion in September, with results in October 2008.
Scoping Study
Golder Associates have been appointed to undertake a Scoping Study into the potential for mining and processing of the 'Patricia' zinc-lead-silver resource. The Scoping Study will commence in early October once the resource modeling work has been finalised in late September. The Scoping Study is scheduled to be completed by the end of November 2008.
Executive Director, Michael Bohm commented:
"The 2008 Patricia drill program has been most successful and the second half of 2008 is shaping up as a busy period for the company. The continued identification of high grade assay results at depth supports our view that the Patricia project has plenty of upside and now extends to at least 200m depth. It is pleasing that we are seeing high grades across the entire zinc, lead and silver spectrum, while also noting the presence of gold. Additionally, the La Rosa drill program has also now commenced, with the aim of testing its copper potential."
Mr. James Sinclair, Exploration Manager (Chile) for Herencia, has reviewed the information contained in this announcement. Mr. Sinclair has 13 years experience in the resources sector and is a qualified person within the definition of the AIM guidelines.
Further background details on the Company and the Paguanta Project can be found at www.herenciaresources.com
Enquiries:
|
HERENCIA RESOURCES PLC |
|
|
Michael Bohm |
+61 8 9221 7466 |
|
WH IRELAND LIMITED |
|
|
David Youngman |
+44 161 832 2174 |
|
PELHAM PUBLIC RELATIONS |
|
|
Klara Kaczmarek |
+44 20 3159 4395 |
|
Sergei Stephantsov |
+44 20 3178 6241 |
Appendix 1: Significant Drill Assay Results
|
Hole ID |
East |
North |
RL |
From |
Width |
Grade |
Comments |
|||
|
(m) |
(m) |
(m) |
Zn % |
Pb % |
Ag ppm |
Au ppm |
||||
|
PTDD013 |
494,250 |
7,809,815 |
3655 |
38.5m |
3.5m |
3.73 |
0.94 |
28 |
Rolando Vein |
|
|
PTDD014 |
494,165 |
7,809,760 |
3702 |
29m |
17m |
2.10 |
Camp NW Supergene Zone |
|||
|
PTDD015 |
494,325 |
7,809,725 |
3720 |
216.5 |
6m |
9.86 |
4.77 |
349 |
0.67 |
Central Vein |
|
Including |
220.5 |
2m |
15.47 |
4.32 |
411 |
0.57 |
||||
|
PTDD017 |
494,355 |
7,809,540 |
3772 |
61.5m |
4.5m |
8.04 |
1.40 |
74 |
Cathedral Vein |
|
|
PTDD018 |
494,385 |
7,809,740 |
3724 |
214m |
8m |
4.05 |
2.13 |
122 |
Central Vein |
|
|
Including |
214.5 |
2.5m |
6.68 |
3.91 |
249 |
0.44 |
Note gold grades |
|||
|
and |
2.0m |
5.54 |
2.65 |
123 |
0.32 |
Note gold grades |
||||
|
PTDD019 |
494,400 |
7,809,590 |
3754 |
160m |
10.5 |
6.52 |
2.26 |
97 |
Cathedral Vein |
|
|
Including |
162.5m |
3.5 |
12.89 |
4.87 |
202 |
|||||
|
PTRC056 |
494,250 |
7,809,760 |
3700 |
5m |
11m |
0.95 |
1.52 |
53 |
Camp Vein |
|
|
Including |
14m |
2m |
4.63 |
2.81 |
112 |
|||||
|
PTRC058 |
494,130 |
7,809,650 |
3730 |
36m |
8m |
4.60 |
1.80 |
157 |
Rosada Vein |
|
|
Including |
39m |
3m |
8.61 |
3.16 |
299 |
0.48 |
Note gold grades |
|||
|
PTRC059 |
494,150 |
7,809,680 |
3720 |
38m |
22m |
3.20 |
0.32 |
18 |
Rosada Vein |
|
|
Including |
51m |
3m |
6.61 |
0.50 |
42 |
Rosada Vein, includes 1m @ 3.0ppm Au |
||||
|
PTRC060 |
494,541 |
7,809,569 |
3813 |
142m |
22m |
3.43 |
0.98 |
49 |
Broad zone of mineralisation between 2 high grade zones |
|
|
142m |
7m |
4.08 |
1.65 |
78 |
||||||
|
Including |
142m |
4m |
6.10 |
2.45 |
115 |
Cathedral Vein |
||||
|
161m |
6m |
6.95 |
1.24 |
65 |
Cathedral footwall |
|||||
|
Including |
3m |
12.46 |
2.10 |
107 |
||||||
|
1m |
25.2 |
1.78 |
104 |
|||||||
|
Hole ID |
East |
North |
RL |
From |
Width |
Grade |
Comments |
|||
|
(m) |
(m) |
(m) |
Zn % |
Pb % |
Ag ppm |
Au ppm |
||||
|
PTRC061 |
494,541 |
7,809,569 |
3813 |
80m |
15m |
1.89 |
Cathedral Vein |
|||
|
132m |
17m |
3.98 |
1.12 |
62 |
||||||
|
Including |
132m |
5m |
8.45 |
0.90 |
62 |
0.51 |
Note gold grade |
|||
|
143m |
6m |
3.40 |
2.01 |
99 |
Cathedral footwall |
|||||
|
PTRC062 |
494,350 |
7,809,755 |
3715 |
31m |
2m |
1.25 |
338 |
Camp Vein |
||
|
40m |
5m |
3.78 |
2.10 |
160 |
||||||
|
PTRC063 |
494,350 |
7,809,730 |
3725 |
62m |
10m |
2.32 |
1.09 |
46 |
Camp Vein |
|
|
PTRC065 |
494,425 |
7,809,795 |
3730 |
72m |
2m |
3.95 |
1.6 |
40 |
Camp Vein |
|
|
PTRC066 |
494,130 |
7,809,785 |
3700 |
52m |
4m |
4.69 |
1.98 |
170 |
Camp Vein NW |
|
|
Including |
2m |
8.57 |
3.66 |
366 |
1.08 |
Note gold grade |
||||
|
PTRC067 |
494,130 |
7,809,725 |
3715 |
35m |
3m |
2.89 |
1.57 |
77 |
Camp Vein NW |
|
|
PTRC068 |
494,130 |
7,809,770 |
3720 |
3m |
8m |
0.80 |
1.68 |
192 |
Camp Vein NW |
|
|
Including |
2m |
1.27 |
3.37 |
294 |
0.52 |
|||||
|
27m |
3m |
0.56 |
1.71 |
203 |
||||||
|
PTRC069 |
494,100 |
7,809,675 |
3724 |
31m |
10m |
2.14 |
Rosada Vein |
|||
|
PTRC074 |
494,980 |
7,809,425 |
3830 |
75m |
4m |
1.48 |
0.80 |
55 |
Refugio |
|
|
PTRC077 |
494,650 |
7,809,540 |
3820 |
65m |
5m |
2.93 |
1.08 |
164 |
Cathedral Vein |
|
|
PTRC079 |
494,400 |
7,809,585 |
3750 |
158m |
9m |
6.64 |
1.38 |
81 |
Cathedral Vein |
|
|
PTRC088 |
494,400 |
7,809,688 |
3740 |
59m |
11m |
2.35 |
0.88 |
145 |
Central Vein |
|
|
Including |
59m |
3m |
4.07 |
1.28 |
207 |
|||||
|
68m |
2m |
3.84 |
2.09 |
402 |
Drill Intersections based on >2% Zn cut off grade
All holes assayed by ALS La Serena 1kg 90% passing 75 micron HF-HNO3- HClO4 digest
AAS AA26 ore grade finish DL - Pb 0.01-20%, Zn 0.01 -30% Ag 1-1500ppmAu 0.01ppm Au DL Fire assay AAS finish
Hole ID co-ordinate grid is PSAD56 UTM Zone 19S.
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