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herencia resources plc (HER) Snapshot

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09/23/13 - 0.67 GBp
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herencia resources plc (HER) Details

Herencia Resources plc, together with its subsidiaries, operates as a mineral exploration and development company in South America. It owns a portfolio of zinc, silver, lead, copper, and gold exploration properties in Chile. The company primarily holds a 70% interest in the Paguanta project located in northern Chile. The Paguanta project comprises Patricia zinc-silver-lead-gold mineral resource; Doris copper-silver prospect; and La Rosa porphyry-copper prospect. Herencia Resources also owns interest in the Guamanga Copper-Gold Project, which comprises the Paulina shallow oxide copper-gold target and several potential deeper porphyry targets; and has various tenement positions in the La Serena area. The company was incorporated in 2005 and is based in West Perth, Australia.

Founded in 2005

herencia resources plc (HER) Top Compensated Officers

Managing Director and Executive Director
Total Annual Compensation: 235.3K GBP
Compensation as of Fiscal Year 2013.

herencia resources plc (HER) Key Developments

Herencia Resources plc Enters into Memorandum of Understanding to Negotiate Toll Treatment Agreement for its Picachos Copper Project, Located in Northern Chile

Herencia Resources plc announced that the company has entered into a Memorandum of Understanding in relation to negotiating a toll treatment agreement for its Picachos Copper Project, located in northern Chile. The company's Picachos Project is located within 10kms of the Tambillos Processing Plant and which is the closest of four ore treatment (processing) plants located in the immediate Picachos area (all of which are capable of processing future mine production from Picachos). The owners of the Tambillos plant have confirmed the capacity of their plant to treat up to one million tonnes per year mined from Picachos. Negotiation to finalise a term sheet (which would set out agreed commercial and technical parameters), in relation to the toll treatment arrangement will commence immediately, with a likely initial term of 3 to 5 years. In a further project development, a recent geological field mapping program at Picachos identified anomalous igneous rocks with potassic alteration and porphyritic texture in which copper anomalism was confirmed using the XRF handheld analyzer. As a result, eight petrographic samples were submitted to the Geology Department at the University of La Serena. Results from thin sections has confirmed that most of the dacite porphyry presents with slight to moderate potassic alteration, indicating there is potential for an underlying porphyry system at depth.

Herencia Resources plc Provides an Update on Progress of Projects

Herencia Resources plc provided an update on the progress of its projects and of the significant project activities and advancement. As previously announced to the market in June and July 2014, the recent Picachos drill program achieved numerous outstanding copper assay results including 91m at 1.42% copper from only 19m downhole (within this intersection included 60m at 1.94% copper and 20m at 3.10% copper) and 45m at 1.70% copper from 95m (including 34m at 2.09% copper) - examples of only two, of many, high grade intersections. Geological cross-sections and 3D models have now been prepared for the '40m Shaft Zone', which at this time is the main zone of high grade mineralisation. This work has confirmed both outcropping and shallow copper mineralisation ideal for bringing an open pit into production at low capital and operating costs. In addition, it has identified key targets for potential future resource expansion adjacent to, at depth, and to the east of this high-grade area. Given the significance of these shallow and high-grade results, Herencia has commenced negotiations with the owners of a number of local processing plants in relation to toll treatment opportunities for Picachos production. The local processing plants have significant throughput capacities, some of which is under-utilised, and Herencia have indicated a potential supply target of up to one million tonnes per annum (1Mtpa), potentially commencing within 12 to18 months - these totals are obviously subject to further work and the results of the company's economic assessment which is being undertaken by the Company's experienced technical team with assistance from external contractors.

Herencia Resources plc Commences Drilling at the Guamanga Copper Project

Herencia Resources plc announced that drilling has commenced at the Guamanga Copper Project. The drilling program will target a significant IOCG anomaly identified during a series of ground geophysical programs. The Guamanga area is a prospective and established copper producing region in Chile. Both companies have high hopes for this potentially significant IOCG target, noting that Guamanga sits within close proximity of Anglo American's very large Mantoverde copper mine. The Guamanga Project is located approximately 750 kilometres north of Santiago in Region III in Chile. Access to the Project site is excellent with the Pan-American Highway located only 30 kilometres to the west and a major airport a 60 minute drive to the south. The Project mineralisation style appears to correspond to a potential Iron Oxide Copper Gold (IOCG) system, an example of which is Anglo American's large Mantoverde Mine, located only 15 kilometres to the north of the Guamanga Project.


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