Source - SMW
Herencia Resources has appointed Peter Reeve as chairman with immediate effect. 

The company said Reeve had been acting as a non-executive director for Herencia over recent months.

He takes over from John Moore who has stepped down with immediate effect but will remain as a non-executive director.

The company acknowledged Moore for his efforts with Herencia over the recent difficult period.

Reeve said: "The directors and management of Herencia are already working hard to place the company on a sustainable operating basis for an exploration company of Herencia's size to allow exploitation of the significant geological potential of its copper assets.

"Herencia copper projects are valuable assets yet to realise their full potential. 

"The new directors believe that disproportionate focus was previously placed on achieving a mining operation rather than first evaluating the complete geological attributes of the properties. 

"Early evaluation has commenced and is highlighting multiple prospects on the properties and areas with previous high-grade copper drill results warrant extensive new evaluation."

Herencia said it planned to drill and sample the '40m shaft' prospect, at the Picachos project.

It said previous drilling intersected significant copper with; PP 14019 returning; 91 metres @ 1.42% copper and 13.5 g/t silver, including 20 metres @ 3.10% copper and 25.4 g/t silver.

Herencia said hat significantly no further drilling had been undertaken in the chert sequence, at the Picachos project towards surface where XRF surface samples grading 7.54% and 3.77% copper had been measured.

Herencia said it planned to drill and sample this area and similar areas in its initial exploration programme.

Reeve  said: "The type of opportunity found at 40m Shaft exists in multiple locations on Herencia's tenements and the company is putting in place plans to ensure the entire project package is properly reviewed from a geological position and explored methodically and fully."    

At 9:57am: (LON:HER) Herencia Resources PLC share price was +0.01p at 0.05p