Herencia Resources Plc (HER)

Herencia Resources Plc (HER)

, the development and exploration company with a primary focus on identifying and developing mineral resource opportunities in South America, is pleased to announce an upgraded Mineral Resource estimate for the Company’s 70% owned Paguanta Project in northern Chile.

• Total Mineral Resource tonnage increased by 26% (at 2% Zn cut-off)
• Mineral Resource now includes both Indicated and Inferred categories (previously all Inferred)
• Total Mineral Resource of 3.15Mt @ 3.9% Zn, 1.3% Pb & 74ppm Ag  (at 2% Zn cut-off)
• Includes high grade component of 1.01Mt @ 6.6% Zn, 2.2% Pb & 119ppm Ag (at 4% Zn cut-off)
• Mineralization open at depth with grades improving with depth
• Scoping Study underway

Executive Director, Michael Bohm commented:

“We have achieved our stated goals to increase tonnage and to upgrade part of the Mineral Resource into the Indicated category. We are also very pleased with encouraging indications that the mineralization remains open in all directions and grades appear to improve with depth.”
“We have now established a solid resource base to utilize in our Scoping Study into the potential for mine development. Despite the currently depressed metal prices, the zinc market is forecasted to recover from 2011 onwards, which should coincide well with any potential start to our production.”

No Comments

Post a Comment