Herencia Appoints Consulting Firm for Paguanta Project
09 October 2009

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Mineral exploration company Herencia Resources has appointed resources consulting firm Runge for its Paguanta zinc-silver-lead-gold project, located in northern Chile.

Runge will help plan and optimise the next drilling programme, which is expected to start early next year subject to financing.

Herencia hopes to target the high-grade extensions along the strike and down dip of the holes that provided high grade assay results during the earlier drilling programme.

Runge has been in charge of the project's mineral resource estimate activity to date.

Runge will also be responsible for assessing the significance of the comprehensive gold mineralisation within the present resource envelope.

To date the highest gold grade has been 1.56g/t in a 150kg bulk metallurgical sample and 4.57g/t in a drill hole, the company said.

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From another BB:
"Forgot to add, Herencia is debt free. How many junior explorers can you say that?
Anyone notice BHP's Colorado copper mine is 40 clicks across the valley; one of the worlds largest supergenes copper mine? Whats between us and them (BHP) in regards to mining? nothing!!!
How many mines/explorers keep selling and swapping mining tenements, abandoning as unviable? Keep issuing placements without a hope of becoming a mine? Talk the talk but cant walk?
How many other junior explorers are there listed on aim in Chile, especially undergoing a paid for feasibility study? Come on clever find me another? YOU CANT - so chile, one of the worlds greatest mining areas full of huge multi national mining corporations makiing billions of dollars in profits
Has our tiny minnow of Herencia, unloved for so long, now finally arrived on the world stage, with a resource, smack in the middle of a mineralised zone, with all exploring licenses and exploitation (mining) licenses in place in readiness.... and the last time the 400 metre addit was mined was c1880 when our Cornishman mined there with a small team of chileans.
Mike Bohms has been inside the addit (mine entrance) he liked what he saw (minesite statement) and no ones been back and mined there since.
For info: Once Herencia identifies the name of the Cornishman they are going to honour him at the addit. When they do, I shall raise a glass and thank this Cornishman, kernow miner- thanks -Corbine and all modern day herencians "

nice one grevis2, like that a lot:))

Hub any chance of a graph.

One to keep an eye on in near future as Rig arrives Feb and results from drill wil be April.

One of the directors offloaded 250k of his private allocation, 6 million of 15million he owns? price due to surge?

From Minesite

February 11, 2011

Herencia Resources Will Soon Set The Drills Turning At Pagantua, And May Be About To Add An IOCG Project To Its Portfolio In Chile
By Charles Wyatt



Its a bit like hitting successive balls back over the bowlers ahead and into the pavilion at Lords. No point in trying to translate that for those who dont understand cricket, but the drift is that its pretty good. The last company Minews wrote about was ASX-listed South Boulder Mines, shares in which have just about quadrupled since the beginning of December. And the start of this rise in the share price virtually coincided with publication of the article on Minesite. In the case of Aim-traded Herencia Resources, the share price rise didnt quite coincide with a Minesite article, but its been pretty substantial none nonetheless.
We last wrote about Herencia in mid-August, and the first upward tick in the share price came about a month later, when it rose from 0.5p to 1.5p. It then gave another jump in November to 2.5p, but December saw a clean sweep up to 4p. And the shares have been hovering around there ever since. Take a look at the announcements from the company and one can see that it raised 4.7 million at 1.75p per share at the beginning of that month, and that just before Christmas an update on the companys 70 per cent-owned Paguanta project in northern Chile was announced.

It was this announcement that kicked the share price into gear, as it contained confirmation that Major Drilling, one of the worlds largest metals and minerals contract drilling companies, had agreed to undertake a 15,000 metres programme over Paguanta. This drill programme will focus on the Doris prospect, where high copper and silver grades have been seen at surface, but the company will also take a look at the La Rosa porphyry copper prospect. Infill drilling is also planned at the Patricia mineral resource with a view to upgrading the inferred estimate to indicated, and to obtaining samples for metallurgical and geotechnical testwork. At the same time a feasibility study will start at Patricia, so 2011 is clearly going to be a very busy year for Mike Bohm, the managing director of Herencia.

Exciting times, as the 39 square kilometre Paguanta project is on the northern part of the main Chilean porphyry copper belt, which hosts some of the worlds largest open-cut copper mines. An ex-Xstrata man, Sergio Avendano, has been appointed to oversee the feasibility study, and the required preliminary metallurgical samples will shortly be sent to a laboratory in Canada. Geophysical work has now been completed at Doris, and the next round of drilling should start at the end of this month, with the first assay results due around Easter. There are still some permitting permissions to be obtained for Patricia, but drilling should start there at about the same time.

On top of all this Herencia is negotiating a joint venture with an influential Chilean citizen to earn a 51 per cent interest in another copper-gold project 750 kilometres north of Santiago. If an agreement materialises, and there seems little doubt as it will, as Mike is on very good terms with the potential partner, Herencia will have to drill 6,000 metres and make staged payments amounting to US$600,000 over a 30 month period. As part of this deal, US$150,000 will be paid when the final agreement is signed and 2,400 metres must be drilled in the first year. On the telephone with Mike Bohm in Chile, Minews asked if there was a chance of acquiring a bigger share of the property at some time in the future. He did not seem to think so, as his potential partner has a good idea of the potential of the project and simply needs an efficient mining company to get things moving. Herencia fits that role, and Mike is happy with the arrangement. When I was with Ashton Mining, he says, and we had 40 per cent of the Lake Argyle diamond project I often said that I would rather have a small stake in a big project than a large stake in a tiddler.

It certainly doesnt look as though this new project will be a tiddler, as its mineralisation style is that of a potential iron-oxide-copper-gold system, and they tend to be big. Two examples in the vicinity are the Candelaria mine where an IOCG system is being mined by open pit by Freeport McMoRan and Sumitomo, and the Manto Verde mine, which is a similar project operated by Anglo-American. The clues to the new projects IOCG potential lie in the presence of abundant iron oxides, in the copper mineralisation associated with it as breccias and stockworks, in iron- gold-copper veins and mantos mineralisation, and the presence of copper, gold, cobalt and molybdenum anomalies at surface. In addition, significant gold and copper mineralisation has been intersected at shallow depths by drilling. Mikes conclusion is that it offers operatorship of an advanced copper-gold target which should be open-pittable. And it is in the right area, with good infrastructure.

A large part of the reason for Herencias progress in Chile lies in the relationships that Mike has built with locals. He is there at regular intervals, his Spanish is improving, he has his family with him at the moment, and says he is looking for an apartment. Mining executives who put down a few roots in the countries in which they operate gain a lot of respect, and this can be put to good use when applying for various permissions and expanding a business. He will be at PDAC to give more information on both projects and his presence there will doubtless generate an even bigger fan club for the company