Herencia Resources makes 'dream start' to Picachos drilling

4th Jun 2014 15:31

Chile-focused explorer Herencia Resources claimed to have made a "dream start" to its drilling programme at its Picachos copper project in Chile. Initial drilling results found near-surface high grades and broad widths of copper mineralisation across most zones that were drilled, which it said strongly supported the potential for open pit mining at the Picachos.One hole found 91m at 1.42% copper at a depth beginning at 19m including 60m at 1.94% copper and 20m at 3.10% copper deeper down.Managing Director Graeme Sloan said: "This is a great start to the drill programme and clearly shows the potential of what we are targeting at Picachos. We are seeking shallow, open pit-able type mineralisation and what we have seen to date definitely fits this category. "With the results to date, including the 91m at 1.42% copper and other very good grades and widths, it is really a dream start to the program and we are very excited."He emphasised that Herencia was at an early stage in the drill programme, with results from only nine holes back from the laboratory.But he added: "If this style and tenor of shallow mineralisation continues, it could potentially be a 'game-changing' milestone for Herencia. We have a number of copper mines operating in very close proximity to Picachos, so the mineral endowment of the immediate area is well recognised."Shares in Herencia were 4.17% higher at 0.5p by 15:10 on Wednesday.OH