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Herencia Resources Plc
Summary
| Project: | Picachos | |
|---|---|---|
| Deposit: | Pastizal | |
| Location: | Chile | |
| Commodities: | Copper-Silver | |
| Date: | 1/29/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-1-2018: Herencia Resources Plc announces an Exploration/Drilling Update report for its Pastizal deposit at the Picachos project. Drilling results incl. 17m @ 1.92% Cu, 20.01g/t Ag from 48m. Herencia Resources plc (AIM Code: HER.L or "Herencia") is plea | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Jeffrey Williams, Miguel Torres (Not stated) | |
| ABSTRACT: | Herencia Resources plc (AIM Code: HER.L or "Herencia") is pleased to advise that the initial Reverse Circulation (RC) drilling at the Pastizal copper project in central Chile, reported copper assays from the 25 holes drilled of up to 4.13% including other high grade near surface copper (Cu) mineralisation. We are so pleased to be back drilling for copper to provide confidence to shareholders that we are very focused on improving the Business and are able to report that Herencia has completed its first RC drill program at the Pastizal project which identified high grade copper mineralisation over a 2-kilometre strike zone and a high success rate per hole. We have an enviable ground position in an established copper belt and within 10 km of the Teck Resources Andacollo open pit copper mine processing up to 20 million tonnes per year at around 0.4% copper." The Picachos-Pastizal area, located eight (8) km on the western part of the Andacollo Copper-Molybdenum porphyry has produced several millions tonnes of copper and significant silver over, at least, the last 30 years. Copper-silver mineralisation in Pastizal consist mainly of structurally-lithologically controlled bornite and chalcopyrite associated with inclusions of silver sulfosalts. However, galena (lead sulphide)-sphalerite (zinc sulphide) mineralisation with grades over 1% lead-zinc, has been identified in some intercepts, indicating the existence of a secondary mineralised event in the area. The mineralisation is hosted by dark limestones, chert-bearing limestones and calcareous sandstones, which can eachreach thicknesses up to 20-30 metres. The origin of the copper-silver mineralisation is thought to be mafic rocks or older deposits that were heated and leached by either circulating water at low temperatures within calcareous sequences, driven up dip from the tensional faults associated with the axis of the Atacama faulting trend during Jurassic-Cretaceous times | |
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