Positive Drilling Results

22nd Jul 2008 10:00



22 July 2008

Herencia Resources plc

("Herencia" or the "Company")

Latest Drilling Returns Multiple High Grade Intersections 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 provide an update of positive drilling results at its Patricia deposit, part of its 70% owned Paguanta zinc-lead-silver project in northern Chile. 

Highlights:

Multiple high grade assay results returned from drilling at the 'Patricia' deposit: 

Cathedral vein:

 

Central vein: 

 

- Diamond hole PTDD018 - 8m @ 4.05% Zn, 2.13% Pb and 122ppm Ag including:

 

- 2.5m @ 6.68% Zn, 3.91% Pb, 249ppm Ag and 0.44ppm Au from 214.5m

 

- 2m @ 5.54% Zn, 2.65% Pb, 123ppm Ag and 0.32ppm Au

Recent diamond drilling has returned several mineralised intercepts at depth on the Cathedral and Central Veins. 

Newly identified Rosada vein, a near surface vein adjacent to the Camp vein, returns high grade intersections:

 

- RC hole PTRC058 - 8m @ 4.6% Zn, 1.8% Pb and 157ppm Ag from 36m including:

 

- 3m @ 8.61% Zn, 3.16% Pb, 299ppm Ag and 0.48ppm Au 

 

- RC hole PTRC059 - 22m @ 3.2% Zn, 0.32% Pb and 18ppm Ag from 38m including:

 

- 3m @ 6.61% Zn, 0.5% Pb and 42ppm Ag

  Recent Drilling Success at Paguanta

 

The current 10,000m Diamond and RC drilling program at Patricia is continuing. Herencia have completed 14 diamond holes to a maximum depth of 300m, for approximately 2,500m of drilling and 42 RC holes, to a maximum depth of 230m, for approximately 5,000m of drilling. 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.

Cathedral and Central Veins Extended at Depth

Recent diamond drilling has returned several visually mineralised intercepts at depth below the current resource. In particular, drilling on the Cathedral Vein has intersected visible sulphides between 183 and 213m depth in PTDD024, a 30m intercept, approximately 200m below the surface outcrop of the vein. Whilst the dip of the vein is thought to be close to the orientation of the drill hole, Herencia is encouraged to intersect mineralisation at depth at Patricia below the current resource. All veins remain open at depth. Assay results are expected in Q3 2008.

New Vein Identified

The recently identified Rosada vein that lies adjacent to the Camp vein has returned several high grade intercepts near surface (as seen in holes PTRC058 and PTRC059 set out in Appendix 1).  It is noted that the vein is also gold bearing. Further drilling is underway to delineate the extent of mineralisation in this vein.

Drilling is now scheduled to continue at Paguanta until early September 2008.  Drilling of the La Rosa porphyry-copper target, 3km to the north of Patricia on the same tenement group, is set to commence within the next seven to 10 days.

Commenting on the latest results of the drilling program, Herencia's Executive Director, Michael Bohm, said: 

"The intercepts of mineralisation at depth at Patricia are very encouraging and indicate the high potential of the project.  We are pleased to see that the new veins being found are of high grades similar to those encountered in the earlier defined veins."

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: Recent Drilling Results

Hole ID	East	North	RL	From	Width	Grade				Comments
						Zn %	Pb %	Ag ppm	Au ppm
PTDD013	4250E	09815N	3655	38.5m	3.5m	3.73	0.94	28		Rolando Vein
PTDD014	4165E	9760N	3702	29m	17m	2.10				Camp NW Supergene Zone
PTDD017	4355E	9540N	3772	61.5m	4.5m	8.04	1.40	74		Cathedral
PTDD018	4385E	9740N	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
PTRC056	4250E	9760N	3700	5m	11m	0.95	1.52	53		Camp Vein
including				14m	2m	4.63	2.81	112
PTRC058	4130E	9650N	3730	36m	8m	4.60	1.80	157		Rosada Vein steep SE dip extends strike 40m SW
Including				39m	3m	8.61	3.16	299	0.48	Note gold grades
PTRC059	4150E	9680N	3720	38m	22m	3.20	0.32	18		Rosada Vein steep SE dip adds 30m down dip
Including				51m	3m	6.61	0.50	42		Rosada Vein, includes 1m @ 3.0ppm Au
PTRC060	4541E	9569N	3813	19m	6m		3.89	41		Oxidised zone
				142m	22m	3.43	0.98	49		Broad zone of mineralisation between 2 high grade zones
				142m	7m	4.08	1.65	78		Cathedral infill section
including				142m	4m	6.10	2.45	115
				161m	6m	6.95	1.24	65		Cathedral footwall west side of fault
including				161m	3m	12.46	2.10	107		Includes 1m @ 25.2% Zn, 1.78% Pb and 104ppm Ag
PTRC061	4541E	9569N	3813	80m	15m	1.89				Cathedral
				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

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

ENDDRLSELSAESASEIW

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