9 January 2012
Herencia Resources plc ("Herencia" or the "Company") Geophysical program confirms drill targets at Guamanga Highlights:
• Geophysical program at Guamanga Project confirms existence
of deeper drill targets
• Shallow diamond drill program successfully completed at
Guamanga
• Assay results from Guamanga anticipated in February
Herencia Resources plc, the multi-commodity Project
Development company, is pleased to provide an update on its
activities at the Guamanga Project (copper-gold project,
Herencia earning 51%) and Paguanta Project (zinc-silver
project, Herencia 70%) in northern Chile:
• Geophysical survey work over the potential porphyry targets
at Guamanga has been completed and a report submitted. The
results of the geophysical survey support the previous
recommendation that drilling be carried out on these
geological targets. Planning for the deep diamond drilling
program, scheduled for this first quarter 2012, is currently
well underway.
• Drilling of the shallow high grade copper-gold target at
the Guamanga Project was successfully completed in December
2011. Eleven (11) diamond drill holes, ranging from 60m to
122m in depth, were drilled for a total of 1,048m. The
diamond core has been logged and photographed and has now
been dispatched to ALS Laboratories in La Serena for
assaying. Assay results are anticipated in February 2012.
• Work on the Paguanta Project Feasibility Study continues.
The process plant design and layout has been completed and is
currently being reviewed by management. The detailed mine
planning phase of the Feasibility Study is scheduled to
commence this month.
• Follow-up Dense Media Separation (DMS) testwork will be
carried out this quarter on samples of Patricia drill core,
looking at the impact of varying the crush size on DMS feed.
Whilst DMS is not currently being considered for inclusion in
the base case processing option, management continues to look
at various opportunities to further optimise operating costs,
tonnage, grade and plant throughput.
• Drilling of the deep diamond hole at the La Rosa prospect
was suspended at 292m down-hole depth due to adverse ground
conditions in the drill hole. Management will look to
re-drill this hole during calendar 2012.
Herencia's Managing Director Michael Bohm commented "Progress on both our Paguanta zinc- silver Project and Guamanga copper-gold Project in Chile has been excellent. The Feasibility Study at Paguanta is progressing well.
We are particularly excited with the results of the recent geophysical work at Guamanga, which has provided clear targets for deeper drill testing, and with the prospect of receiving the assay results during February from the recently completed shallow drilling program at Guamanga.
Our Management team in Chile are to be commended for completing a significant work program in
2011. We are looking forward to building on that in 2012 as we continue to move both our projects forward."
For further information, please contact:
Michael Bohm, Herencia Resources plc +61 8 9481 4204
Katy Mitchell, WH Ireland Limited +44 161 832 2174
Simon Courtenay, Broker Profile +44 207 448 3244
1
References in this announcement to exploration results and potential have been approved for release by Mr Michael Bohm (BAppSc Mining Engineering WASM) and Mr Antonio Valverde (Bsc Geology Universidad Complutense de Madrid), both with more than 15 years' relevant experience in the field of activity concerned. Mr Bohm is a Member of the Australasian Institute of Mining and Metallurgy. Mr Bohm and Mr Valverde have consented to the inclusion of the material in the form and context in which it appears.
Further background details on the Company can be found at www.herenciaresources.com
**ENDS**2
distribué par | Ce noodl a été diffusé par Herencia Resources plc et initialement mise en ligne sur le site http://www.herenciaresources.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-09 12:59:17 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Positive Results from Guamanga Geophysical Program |