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heron resources ltd (HRR) Snapshot

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52 Week High
09/2/14 - A$0.22
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Market Cap
30.4M
Average Volume 10 Days
109.0K
EPS TTM
A$-0.03
Shares Outstanding
253.0M
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heron resources ltd (HRR) Details

Heron Resources Limited engages in the exploration and development of mineral properties in Australia. It primarily explores for a range of commodities, including nickel, zinc, gold, and base metals. The company owns interests in the Woodlawn zinc-copper project located to the southwest of Sydney in New South Wales; and the Kalgoorlie nickel project located north of Kalgoorlie in Western Australia. It also holds various other base metal and copper-gold exploration properties located in the Lachlan Fold Belt of New South Wales. Heron Resources Limited is based in West Perth, Australia.

19 Employees
Last Reported Date: 11/7/14

heron resources ltd (HRR) Top Compensated Officers

Chief Executive Officer, Managing Director an...
Total Annual Compensation: --
Chief Financial Officer and Joint Company Sec...
Total Annual Compensation: --
Executive Director and Member of Audit Commit...
Total Annual Compensation: A$321.1K
Joint Company Secretary and Financial Control...
Total Annual Compensation: A$201.3K
General Manager of Strategy & Business Develo...
Total Annual Compensation: A$261.5K
Compensation as of Fiscal Year 2014.

heron resources ltd (HRR) Key Developments

Heron Resources Limited Provides Update on Woodlawn Underground Project Preliminary Economic Assessment

Heron Resources Limited provided an update on the progress being made with the Woodlawn Underground Project Preliminary Economic Assessment. This PEA or detailed scoping study commenced during third quarter 2014 and, once completed, will represent the first complete study since mine closure in 1998 targeting the economics of re-establishing underground operations at Woodlawn. The company provided progress to date and acknowledges the effort being made by Heron employees, consultants and contractors assisting in the compilation of this important study. The principle objective of the PEA is to demonstrate the viability of recommencing operations at Woodlawn. Whilst this study has a focus on the high grade underground mineralisation, the development plan for the Woodlawn Project will involve the combined development of underground mining and the tailings retreatment project at the Woodlawn site. The metallurgical testwork currently ongoing reflects this approach. The tailings retreatment project has previously been studied to a higher level of detail (Feasibility Study and Front End Engineering Design Study) than the underground project. The PEA thus forms the first step in raising the level of review on the underground project to allow for an integrated study to be completed. The current (Phase 1) drilling program has been designed to provide the inputs for a revised Mineral Resource estimate, a key component of the PEA study. Approximately 1,150m of RC drilling has been completed. This tested a number of the shallow up-dip positions of known lenses, after which the program moved to predominantly diamond drilling. Approximately 6,300m of diamond core drilling has now been completed in 16 holes. The drilling program to date has returned 20 massive sulphide intercepts which represents an outstanding - success - hit rate with results that have included high grade intercepts such as WNDD0007 (12.3m at 20.0% Zn, 2.1% Cu, 6.1% Pb, 0.8g/t Au and 53g/t Ag from 414m). In addition, during the last two years, two new lenses have been identified, with the potential for a third being investigated. These results demonstrate the very real potential to continue to make new discoveries within the Woodlawn system. The focus of the diamond drilling has primarily been on Kate Lens where seven of the nine holes drilled to-date intersected massive sulphide mineralisation. Overall, the boundaries currently interpreted from drilling the Kate Lens have met expectations and are expected to provide a significant addition to the overall Mineral Resource tonnage. Kate Lens is viewed as a likely source for early, high-grade, tonnage for the planned underground operation. Importantly, the lens still remains open in a number of directions. The majority of the holes drilled in the current program have been surveyed with DHEM probes which provide an indication of the potential occurrence of conductive massive sulphides adjacent to the drill hole. Recent technological progress has provided a marked improvement in the measured response to sphalerite (zinc sulphide mineral), which has historically been a limitation with DHEM techniques. During the Phase 1 drill program, the recorded and modelled response from the DHEM surveys has, in many cases, successfully guided follow-up drilling, and continues to be an important component of drill-targeting. As an example, the massive sulphide intercepts in drill hole WNDD0012 (4.75m of massive sulphides, assays pending), WNDD0013 (6.0m of massive sulphides, assays pending) and WNDD0014 (2.0m of massive sulphides, assays pending) were the result of off-hole conductors modelled from WNRC0010. Similarly, the Kate Lens conductors modelled in WNDD0002 and WNDD0003 provided an excellent platform for targeting the further holes into the Kate Lens. Two conductors have now also been modelled from drill hole WNDD0009, providing down-plunge indicators for the G Lens, and indicating the Kate Lens is open in the up-dip position. These are robust targets for future drilling. Given this success, DHEM will continue to be a key contributor to the future exploration programs at Woodlawn.

Heron Resources Limited Closer to Delineating Zinc-Copper Resource in New South Wales

Heron Resources Limited has made a number of high grade massive sulphide intersections and discovered a potential new lens at its Woodlawn Zinc-Copper Project in New South Wales. The intercepts in the G Lens and the new Lisa Lens represent new discoveries at relatively shallow depths and are both open in a number of directions. Assay results from the G Lens include: 14.8 metres at 5.4% zinc 2.7% copper 2% lead 1.2 grams per tonne gold and 49g/t silver from 198 metres; and 4.4 metres at 4.1% zinc 3.2% copper 0.9% lead 0.5g/t gold 39g/t silver from 206 metres. The company also intersected 2.9 metres and 4.9 metres of massive sulphides at the Lisa Lens. The latest assay results and massive sulphide intercepts form part of the highly successful 2014 drilling program targeting the delineation of the Resource base to be used in the Preliminary Economic Assessment for the Woodlawn Underground Project. Approximately 5,750 metres of diamond drilling has now been completed with a further 2,000 metres being drilled as part of the initial program. Further results are pending.

Heron Resources Limited Provides Drilling Update at its Woodlawn Deposit

Heron Resources Limited announced further high grade assay results from a number of massive sulphide intercepts and the potential discovery of a new lens with an intercept of massive sulphides in a new area of the Woodlawn deposit. The intercepts in the G Lens and the new zone, Lisa Lens, are particularly encouraging as they represent new discoveries at relatively shallow depths and both positions remain open in a number of directions. The latest assay results and massive sulphide intercepts form part of the highly successful 2014 drilling program targeting the delineation of the Woodlawn Mineral Resource base to be used in the Preliminary Economic Assessment for the Woodlawn Underground Project. Approximately 5,750 metres of diamond drilling has now been completed with a further 2,000 metres being drilled as part of the initial program. Woodlawn is a high-grade volcanogenic massive sulphide (VMS) deposit, located some 50km north-east of Canberra and 250km south-west of Sydney in New South Wales, Australia. Assay results for diamond holes WNDD0009 -10 have been received and have returned encouraging results in the G and Kate Lens positions. The most significant intercepts include: WNDD0009: 14.8m at 5.4% Zn, 2.7% Cu, 2.0% Pb 1.2g/t Au, 49g/t Ag from 198m (G Lens); WNDD0009: 8.1m at 7.2% Zn, 1.1% Cu, 2.3% Pb, 0.9g/t Au, 28g/t Ag from 309m (Kate Lens); and NDD0010: 4.4m at 4.1% Zn, 3.2% Cu, 0.9% Pb, 0.5g/t Au, 39g/t Ag from 206m (G Lens). These holes were primarily designed to test the southern extent of the Kate Lens downhole EM plate with a typical zone of massive sulphide mineralization intersected in the Kate Lens position in WNDD0009. Hole WNDD0010 intersected mostly pyritic mineralisation in the bottom south corner of the Kale Lens and, while assays are pending, it is not expected to have economic grades and represents the pyritic mineralisation seen on the edges of other Woodlawn lenses. However, additional zones of massive to semi-massive and stringer sulphide mineralisation were intersected in both these holes around 200m downhole depths and this represents a previously un-modelled ore position corresponding with the down-plunge extension of the G Lens. Diamond drill hole WNDD0015 was targeted to follow-up an interpreted structural position, including two historical drill holes that encountered mineralization, to the south of I lens. The historical drilling recorded intercepts of: W089: 4.0m at 4.9% Zn, 2.8% Cu, 2.3% Pb, 0.8g/t Au and 25g/t Ag from 266m depth; and W145: 4.0m at 2.0% Cu from 234m depth. Hole WNDD0015, which is located approximately 40m to the north of the historical drill intercepts, recorded a number of mineralised zones (new Lisa Lens) including: 2.9m of massive sulphides from 237m; and 4.1m of massive sulphides from 242m. These results are of particular significance being based on a revised structural model for the mineralisation that was successful in predicting the position of the lens within the Woodlawn deposit environ. Down hole EM will be conducted as a priority in WNDD0015 to provide a better indication of the likely dimensions of this new lens. The diamond drilling is continuing at Woodlawn with 3 rigs currently in operation, two conducting exploration/resource drilling and the third testing the geotechnical conditions for the box-cut, portal and access to the existing decline on the eastern side of the pit. The initial program is approximately 75% completed and has achieved the objective of defining the Kate Lens mineralisation plus identified a number of new or extensional ore positions that will be included in updated Mineral Resource estimate that is currently being calculated. The remainder of the program will continue to step out in various positions to test mostly shallow targets in the Kate, Lisa, D and G lens positions. An approximately 500m deep hole is also being designed to test below the southern end of the Woodlawn pit where hole W024 (historical Jododex hole) intersected 15.7m at 8.7% Zn, 2.6% Pb, 0.9% Cu, 1.0g/t Au and 71g/t Ag and has had limited follow up drilling. This target will be drilled when a suitable drill site can be designed taking into account the existing infrastructure.

 

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