Herencia Resources reports high grade Picachos results

8th Dec 2014 09:57

Multi-commodity resources company Herencia Resources reported further high grade assay results for its Picachos copper project in Chile.Following tests, Herencia has confirmed that the site's near surface high grade copper mineralisation is consistently in the 1% to 2% copper grade range.The company also reported the discovery of a new copper-rich zone, located in a down-plunge position close to the current shaft area.Both diamond and reverse circulation drill holes intersected high-grade copper sulphides in this new zone, which appears to be related to a major regional fault trending in a north-west direction.Managing director Graeme Sloan said: "We are greatly encouraged by both the discovery of a new zone of mineralisation and the very broad widths of copper assays being encountered." As of 10:31 on Monday, the group's share price was down 6.98% at 0.2p her share.