13th Jun 2006 16:19
Herencia Resources PLC13 June 2006 Herencia Resources plc Project and Exploration Update South American Opportunities Highlights • Iquique project drilling and surface rock chip/dump assay results are pending. • Paguanta Project - assay results have been received from surface and underground sampling Paguanta. Best result over a 6m width from an underground drift averaged 7.3% zinc, 3.0% lead and 145 ppm silver. Background of Herencia Resources Plc in Chile Herencia Resources Plc (Herencia) holds an interest in two prospective silverand copper districts in Chile, both of which have had only modest explorationusing modern systematic techniques. Herencia has a right to earn a 70% interestin the Iquique and Paguanta projects located in northern Chile (See figure 1 inthe copy of this announcement on the company's website). A copy of this projectupdate can be downloaded from the Company website which includes a map of theLocation of Projects in northern Chile. Iquique Project The Iquique project area covers secured tenements over approximately 97 km(2) onthe coast of northern Chile. This mineral field contains numerous old silverworkings dating back to the Inca Empire and the Spanish colonial era. Thisproject area covers almost the entire Iquique mining district, which in the 19thCentury, with over 60 operating mines, was the second largest silver producer inChile. A drilling program of 36 holes was completed in April 2006. A total of 3887meters was drilled to an average depth of 110 meters. The holes targetedsub-vertical and stratabound structures in historical silver and copper workingsat Rosa Amelia, Rose Marie, Monte Cristo, and Pajonales. A copy of this projectupdate can be downloaded from the Company website which includes a map of theIquique Project location and drill collar plan. Assays results have been received for 18 holes and 18 holes are stilloutstanding. The samples received are being collated and validated, and theinterpretation of the drill holes results will be undertaken in conjunction withthe outstanding samples when received. Details of the assay results will beannounced as soon as all the results have been received. Laboratories in Chilehave had increased assay turnaround time due to increased exploration activitiesin recent months. Geological mapping and rock chip/dump sampling are currently underway. Paguanta project The Paguanta Project is located on the northern trend of the main Chileanporphyry copper belt, approximately 120km east of the coastal port of Iquiqueand 20 km south of the highway to Bolivia. Paguanta has old silver-zinc-leadworkings which provide drill targets and additionally our geologists haveidentified a number of other copper, silver and gold targets that will beevaluated. A total of 837 surface and underground samples have been collected. Thoseinclude 166 grid outcrop panel samples, 214 channel samples from historic mineworkings, 298 trench channel samples and 67 stream sediment samples during theon-going stream sediment sampling program. Approximately 200 more samples willbe taken during reconnaissance of the district. Samples were collected from outcrops on a 50 meters and a 25 meters grid over anarea centered on the Patricia (Englishman) mine workings. A copy of this projectupdate can be downloaded from the Company website which includes a map of thePaguanta Project location plan. The most significant results are from within a300 meters by 350 meters area in andesites. The range of analytical results forzinc is 100 to 10,000 ppm, for lead is 50 to 5900 ppm and for silver is 0.25 to32.1 ppm. Table 1 shows some of the better silver results. A copy of thisproject update can be downloaded from the Company website which includes thelocation of the surface silver and zinc results from the Patricia area. The areais open to the west and to the north. Several very anomalous samples taken atthe northern edge of the grid suggest the existence of an anomaly occurring inthat direction. Analyses are pending from two trenches located approximately 150and 300 m west of the anomaly and containing hydrothermally altered volcanicrocks. Surface sampling in the Patricia mine area is continuing, including thearea to the west and north, to determine the extent of mineralisation. A surfacesample just received from a 3.3m channel in the east of the grid assayed 419 g/tAg and 11.3% Pb. Table 1: Surface sampling silver results from the Patricia area Sample No. Au ppm Ag ppm Pb % Zn % Notes 36571 0.054 32.2 0.97 0.11 50m grid sample 36651 0.042 55.8 0.44 0.01 25m grid sample 36662 0.039 48.3 0.37 0.01 25m grid sample 36677 0.262 59.1 0.16 0.1 25m grid sample 36688 0.469 175 0.36Related Shares:
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