Herencia Resources Share Discussion Threads

[haydock] 09/9/2015 11:00

Better start collecting water in the buckets now !!!

[haydock] 09/9/2015 10:50

Well it may have been that Zambian mine that they were closing, but you have the gist of the story.

Also I found this:

[steelwatch] 09/9/2015 10:38

...and that's not all:

[haydock] 09/9/2015 09:47

Overnight hints that copper may rapidly bounce back in price & demand.

Glencore has closed a huge mine in AUS, massive effect on world demand / supply.

[martyn9] 06/9/2015 10:35

A hint of the next runs,roll up, roll up.Get in now HER plans huge mining operation on the moon,multiple open pits,this gigantic opportunity cannot be missed!!!! GS regurgitates grab these shares folks you will be a fool not to? i know i must add more water to it,but honestly it's not far off the mark is it? enjoy your sunday folks.

[valentine] 01/9/2015 18:20

Waiting for 0.01p for another fwq mill.

[martyn9] 28/8/2015 14:39

what amazes me in the last runs gs mentions "multiple open pits" start with bloody one first!!! i wait in anticipation off the next fairy tale episode/saga to all this.

[martyn9] 26/8/2015 16:18

I wonder if GS was a snake oil salesman in a past life!!!

[stockready] 26/8/2015 15:45

Martyn

thanks for that view, and you are 100% right
but already cracks are all over this shaky Pyramid, and we soon collapse sadly and I just hope GS stays right at the bottom of this structure when it collapses, and pay for what he has done to decent shareholders who kept believe in his BS and amount of utter nonsense and unrealistic promises and deadlines which NONE has been achieved.

people should take legal action against these cowboys!

SPEAK out and write to this idiot and demand answer of why such a simple case needs 5 months of negotiation ? why we have no Feaso? why there is no licence? no PR? and no direction or managements?

ask GS to return some of the money he earn from back of our investment and resign immediately and let someone like Jimmy to direct this company back to path of success,

this dummy has ruined this company completely, and he is still dare to come here and talk about multiple OPEN PIT, while he couldn't even deliver one simple open pit!

the guy has truly lost it!

[nevik2] 26/8/2015 12:49

Better welcome any newcomers that checked in on the last rns, welcome, here's the official Company song to greet you, I hope you enjoy your stay.

[martyn9] 26/8/2015 12:49

IT's like the old scam of pyramid selling providing you get enough mugs ploughing money into a dead loss scheme,the money/rewards can be milked from the top or in other words nice fat salaries!!! when the mug investors run out the pyramid collapses.

[valentine] 26/8/2015 12:03

Think about Am nev. Oleoducto and lupo all well. Put the profits in .. uhmm?

[nevik2] 26/8/2015 10:18

Why am I not getting excited about that good rns. Might be because we always end red.

[liquid millionaire] 26/8/2015 08:16

Herencia Resources plc

("Herencia" or "the Company")

More Widespread High Grade Results from Picachos

Highlights:

-- An ongoing XRF surface sampling program at Picachos has confirmed further high grade copper mineralisation
-- Sampling to the east of the 40M Shaft and the Santa Rosa mine resulted in multiple high grade zones

-- At the 40M Shaft, high grades were identified immediately up-dip from where earlier drilling had intersected deeper high grade copper mineralisation. This supports the view that this mineralisation can extend all the way to surface.

-- Many of the new areas sampled fall within the proposed open pit at Picachos
-- Updated geological-structural mapping together with recent sampling have confirmed the existence of shallow copper mineralisation over 1,200 metres extending from south of 40M Shaft through Flor del Bosque to La Ñipa.

Herencia Resources plc (AIM:HER), the Chile-focussed mineral exploration and development Company, is pleased to advise that further surface sampling at its advanced Picachos Copper Project ("Picachos" or the "Project") in central Chile, has identified high grade copper mineralisation in a number of new areas immediately adjacent to the proposed open pit mining operations.

The extensive surface sampling program using the hand held XRF analyser and undertaken by company geologists focussed on mineralisation at 40M Shaft East, Flor del Bosque, La Ñipa, Santa Rosa and the southern tenement areas, following several parallel mineralised structures and three limestone-bearing sequences.

Whilst these results are indicative of the presence of mineralisation in a selection of rocks at the surface, the high grade results in the 40M Shaft East area and mapping of additional mine workings confirm the continuity, at shallow levels, of the copper grades seen in diamond drill hole DDH14003 which returned 117m at 1.14% copper from 182m and which included higher grade intervals of 18m at 1.53% copper from 184m, 9m at 2.02% copper from193m, 16m at 1.50% copper from 213m, 10m at 1.95% copper from 254m, 10m at 2.00% copper from 268m and 11m at 2.21% copper from 288m (refer RNS dated 18 December 2014).

The significance of this is that the area of the proposed open pit immediately to the east of the 40M shaft which was previously modelled as waste could be potential high grade mineralisation based on the excellent results from the latest sampling program and the structural interpretation of this area.

Significant results from the sampling program, including the highest result of 24.8% copper in the 40M Shaft area, are attached in Table 1 and on a diagram available on the Company's website at www.herenciaresources.com and attached here:



An extensive geological and structural mapping program was undertaken in conjunction with the most recent sampling which has confirmed the existence of shallow copper mineralisation over a strike length of 1,200 metres - extending from south of the 40M Shaft through Flor del Bosque to La Ñipa. A similar geological structure has also been identified between Santa Rosa, Rancho 4 and 40M Shaft East.

Managing Director, Graeme Sloan, commented:

"It is always pleasing to see consistent and extensive high grade copper values on the surface, especially when associated with deeper drilling showing mineralisation. In many ways this latest program confirms the prospectivity of Picachos and potentially opens the door to a multiple open pit scenario which could provide the Company the all-important flexibility and optionality needed for production. This in turn could lead to better use of equipment, higher productivity and an overall lower operating cost.

Many of the high grade copper samples in the 40M Shaft East area are located immediately above and adjacent to an already defined JORC mineral resource where our own diamond drilling (the most accurate and expensive of all drilling), has confirmed large zones of high grade copper and silver mineralisation.

Our indicative open pit mine studies have modelled the majority of the area to the east of the 40M shaft as waste, however if we are correct and this area is mineralised then it could have a significant impact on pit economics with more ore and less waste which would be a great outcome.

In conjunction with the latest sampling program, the team have continued to progress in many areas including mine studies, approvals, mapping and a re-interpretation of the Picachos geology in preparation for mine development. We will look to provide further guidance over the coming weeks."

About the Picachos Project

The Picachos Project is located approximately 50km south of the coastal city of La Serena, 8km west of both the existing Andacollo copper-gold project operated by Teck Resources and the mining town of Andacollo (population approximately 10,000 people), and 10km south of the privately owned Tambillos copper mine. The Project is very well positioned for infrastructure with existing high voltage power located approximately 3km east of the Project area and serviced by two all-weather access roads.

Small scale mining is currently being undertaken by private miners via small open pit and underground mining operations. Ore is being trucked to a Chilean government owned processing plant (ENAMI plant) where it is processed. This mining will continue up until such time as the Option to fully acquire Picachos is exercised (at Herencia's discretion) and is seen by the Company as an excellent mechanism to achieve geological and grade data across many zones of mineralisation.

A review of available data and recent site visits have identified up to six separate zones of mineralisation. In some areas the close relationship of these zones coupled with multiple occurrences of out-cropping wide zones of mineralisation, highlights the excellent potential for large scale open pit mining to take place at Picachos. Historic mining has focused mainly around the high grade structures, however in some areas the mantos has been mined up to 50m wide. Mineralisation generally commences from one to five metres below the surface and appears open at depth.

About Herencia

Herencia Resources plc, is an AIM quoted exploration and development company operating in Chile. In addition to the Picachos Copper Project, the Company also has the Guamanga Copper Project and the 70% owned Paguanta Project, a high grade silver-zinc-lead project located in northern Chile. The Company's corporate office is located in Perth and the main technical and management office is located in Santiago, Chile where it has been operating for over eight years.