29 May 2012 09:27
Herencia Resources plc
("Herencia" or the "Company")Drill Results from Guamanga Project
Herencia Resources plc is pleased to provide an update on the drill results for the Guamanga Project (copper-gold project, Herencia earning 51%) located 25km east of the Pan American Highway and approximately 15km south of Anglo American's Manto Verde copper mine in northern Chile.
All drill assay results have now been received from the 2012 six hole diamond drill program which totalled 1,534m (with hole depths ranging from approximately 100m to 521m), undertaken at Guamanga during the first quarter of 2012. Results from this six hole program included:
·; 6m at 0.60% copper and 0.20g/t gold from 146m (hole GUADD013)
·; 5m at 314ppm molybdenum from 436m (hole GUADD013)
·; 3m at 1.3% copper. 0.37g/t gold and 158ppm cobalt from 50m (hole GUADD017)
·; 2m at 1.3% copper. 0.33g/t gold and 103ppm cobalt from 75m (hole GUADD017)
Herencia's technical team will now review the drill assays and core mineralogy of each hole to build an understanding of the Project's geology to assist in determining the full potential of the Guamanga Project (for both the shallow oxide mineralisation and potential deeper porphyry mineralisation).
When combined with the shallower holes drilled previously by Herencia and reported on 29 February 2012, the 'Paulina' zone (located in the north-east corner of the Guamanga property and the target of the December 2011 drill program) has returned the following mineralised intercepts:
·; 10m at 1.1% copper and 0.63g/t gold from 25m including 5m at 1.7% copper and 1.07g/t gold (hole GUADD002)
·; 15m at 0.8% copper and 0.35g/t gold from 17m including 6m at 1.0% copper and 0.42g/t gold (hole GUADD003)
·; 6m at 1.3% copper and 0.49g/t gold from 5m (hole GUADD005)
·; 13m at 1.0% copper, 0.4g/t gold from 12m including 4m at 1.6% copper, 0.67g/t gold and 135ppm cobalt (hole GUADD007)
·; 14m at 0.7% copper, 0.37g/t gold from 63m including 2m at 1.2% copper, 0.55g/t gold and 129ppm cobalt (hole GUADD007)
·; 5m at 1.4% copper, 0.38g/t gold, 168ppm cobalt and 136ppm molybdenum from 13m including 2m at 2.6% copper , 0.63g/t gold, 172ppm cobalt and 189ppm molybdenum (hole GUADD009)
·; 6m at 0.6% copper and 0.20g/t gold from 146m (hole GUADD013)
·; 3m at 1.3% copper. 0.37g/t gold and 158ppm cobalt from 50m (hole GUADD017)
·; 2m at 1.3% copper. 0.33g/t gold and 103ppm cobalt from 75m (hole GUADD017)
Herencia's Managing Director Michael Bohm commented "These assay results will now be reviewed by our Geological team in Chile, who are particularly interested in the numerous shallow intersections of mineralisation returned from those holes drilled into the 'Paulina' zone.
The majority of holes drilled into the 'Paulina' zone have intersected copper, gold, cobalt and molybdenum mineralisation, particularly in the first 150m. This outcropping oxide zone appears well mineralised and will be the primary focus of investigation by our Geologists in the coming months. We will also review the deeper core geology, looking for the potential source of the oxide mineralisation, as we seek to also assess the Projects depth potential".
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
Appendix 1 - Assay Results from 2012 Guamanga Drilling Program:
(All widths stated are down-hole intersections)
Hole ID | Easting | Northing | Dip/Az. (degrees) | From (m) | To (m) | Width Down-hole (m) | Copper Grade (%) | Gold Grade (g/t) | Cobalt Grade ppm |
GUADD012 | 361542 | 7042426 | -70/107 | 349 | 350 | 1.00 | - | 2.08 | 151 |
441 | 444 | 3.00 | - | 0.29 | 257 | ||||
449 | 451 | 2.00 | - | 0.45 | 844 | ||||
GUADD013 | 364121 | 7044105 | -70/225 | 146.00 | 152.00 | 6.00 | 0.60 | 0.20 | 50 |
405.00 | 407.00 | 2.00 | 0.92 | 0.35 | 20 | ||||
436.00 | 441.00 | 5.00 | 314ppm molybdenum | ||||||
GUADD014 | 361315 | 7044381 | -53/058 | No Significant Intersections | |||||
GUADD015 | 361316 | 7044019 | -50/063 | No Significant Intersections | |||||
GUADD016 | 364119 | 7044106 | -70/271 | 49.00 | 50.00 | 1.00 | 1.39 | - | 29 |
103.00 | 104.00 | 1.00 | 0.57 | 0.20 | 39 | ||||
143.00 | 145.00 | 2.00 | 0.72 | 0.26 | 23 | ||||
170.86 | 172.00 | 1.14 | 0.58 | 0.10 | 27 | ||||
GUADD017 | 364092 | 7044110 | -52/271 | 7.00 | 9.00 | 2.00 | 0.69 | 0.33 | 27 |
19.00 | 20.00 | 1.00 | 0.57 | 0.22 | 23 | ||||
29.00 | 31.00 | 2.00 | 0.67 | 0.22 | 60 | ||||
43.00 | 46.00 | 3.00 | 0.64 | 0.28 | 85 | ||||
| 47.00 | 48.00 | 1.00 | 0.68 | 0.36 | 62 | |||
50.00 | 53.00 | 3.00 | 1.34 | 0.37 | 158 | ||||
55.00 | 57.00 | 2.00 | 0.98 | 0.34 | 58 | ||||
75.00 | 77.00 | 2.00 | 1.29 | 0.33 | 103 | ||||
·; All samples assayed by ALS Laboratory Group, Chile
·; Crushing all sample 70% < 2mm; quirting to 1 Kg; and powdered 85% < 75 µm
·; Total Copper Cu-AA62 (4 acid near total digestion and ICP finish, 0.01 - 40%)
·; Co - ME ICP41 method
·; Mo - ME ICP41 method
·; Au - AA23 ore grade finish Au 0.005 - 10ppm Au fie assay
·; Hole ID co-ordinate grid is PSAD56 UTM Zone 19S
References in this announcement to exploration results and potential have been approved for release by Mr Antonio Valverde (Bsc Geology Universidad Complutense de Madrid), who has more than 15 years' relevant experience in the field of activity concerned. Mr Valverde has 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**