High grade finds send Herencia soaring

10th Sep 2010 10:22

Sampling at Herencia Resources' Paguanta project in the north of Chile has found high grades of copper and silver, the miner said today, sending the shares soaring.Managing director Michael Bohm said the company would be following up the sampling over the next two or three months with a 'systematic' mapping and sampling programme. He said the company's main focus just now is to pave the way for an update mineral resource estimate for Paguanta. He expects this to happen by the end of the month.Paguanta is Herencia's main project and consists of 14 licenses over about 15 square miles. Herencia also some rights in Chile's La Serena region over areas thought to have potential for copper mining.