Explorer Herencia Resources has bought additional land adjacent to its Paguanta project in northern Chile.
The 16 square km of land has a large porphyry-copper exploration target. Low-cost work will be undertaken ahead of trying to secure a farm-in partner. The Patricia zinc-silver-lead project is 2km away on the Paguanta land.
Herencia owns 70% of Paguanta, which has two potential copper bearing zones. The company also owns 100% of the Guamanga project where OZ Minerals is in the process of earning a 80% stake in the potential iron oxide copper gold mineralisation.
At 0.6p a share, Herencia is valued at £11.6m.
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