Mr. Wayne Taylor reports
WOODLAWN PHASE II DRILLING PROGRAM COMPLETED - HIGH GRADE INTERSECTIONS CONTINUE
Heron Resources Ltd. has provided a summary of recent results from the phase 2 drilling program as part of the Woodlawn feasibility study at its wholly owned Woodlawn project, located 250 kilometres southwest of Sydney, New South Wales, Australia.
- Recent significant assays received from E, G and H lenses:
- 1.3 metres of 33 per cent zinc equivalent (ZnEq) from 283 metres (8.8 per cent zinc, 4.8 per cent copper, 3.2 per cent lead, 1.8 grams per tonne gold, 168 g/t silver), WNDD0074 (G):
- ZnEq in this release is based on the formula: Zn (percentage) plus 0.81 times Pb (percentage) plus 3.12 times Cu (percentage) plus 0.86 times Au (g/t) plus 0.03 times Ag (g/t). All these metals are expected to be recoverable. Refer to the announcement of April 22, 2015, entitled "Preliminary Economic Assessment Delivers Strong Business Case for the Woodlawn Zinc-Copper Project" for further information;
- 1.8 metres of 25.0 per cent ZnEq from 106 metres (1.5 per cent Zn, 4.4 per cent Cu, 3.7 per cent Pb, 2.7 g/t Au, 145 g/t Ag), WNDD0081 (H);
- 3.8 metres of 11.8 per cent ZnEq from 80 metres (6.4 per cent Zn, 1.0 per cent Cu, 1.7 per cent Pb, 0.3 g/t, 17.7 g/t Ag), WNDD0084 (E);
- 2.9 metres of 35.4 per cent ZnEq from 96 metres (12.7 per cent Zn, 2.6 per cent Cu, 8.1 per cent Pb, 2.5 g/t Au, 202 g/t Ag), WNDD0088 (G);
- 1.8 metres of 32.3 per cent ZnEq from 116 metres (6.4 per cent Zn, 3.5 per cent Cu, 3.5 per cent Pb, 2.2 g/t Au, 341 g/t Ag), WNDD0089 (G);
- 6.1 metres of 12.2 per cent ZnEq from 50 metres (6.9 per cent Zn, 0.5 per cent Cu, 2.2 per cent Pb, 1.0 g/t Au, 36 g/t Ag) , WNDD0093 (E);
- 1.8 metres of 32.0 per cent ZnEq from 80 metres (13.8 per cent Zn, 1.3 per cent Cu, 8.6 per cent Pb, 0.8 g/t Au, 216 g/t Ag), WNDD0093 (E);
- 9.3 metres of 18.7 per centZnEq from 41 metres (8.2 per cent Zn, 0.7 per cent Cu, 3.2 per cent Pb, 1.6 g/t Au, 144 g/t Ag), WNDD0098 (G);
- Recent significant assays received from Kate lens:
- 18.9 metres of 9.3 per cent ZnEq from 351 metres (2.6 per cent Cu, 0.7 g/t Au, 8.3 g/t Ag), WNDD0084 (Kate Copper);
- Significant high-grade massive sulphides intersected in Lisa lens:
- 12.5 metres from 222 metres of polymetallic and copper massive sulphides (WNDD00104).
The company continues to make excellent progress with the Woodlawn feasibility study following the completion of the phase 2 drilling program. Final drill hole surveying and resource modelling are now proceeding. Additional components to this detailed study, including metallurgical testwork, mining and geotechnical engineering, are all well under way, and the study remains on target for completion in the second quarter of 2016.
Phase 2 drilling
The objective of the phase 2 drilling program has been to expand the underground resource base and delineate sufficient measured and indicated resources that can be converted into an underground mineral reserve for the feasibility study. The phase 2 drilling program at Woodlawn, comprising approximately 19,000 metres of diamond drilling, has now been completed (18,653 metres being drilled in 84 holes) ahead of time and below budget.
A number of drill intercept assay results are still to be received and reported; however, the overall program has been very successful with numerous high-grade drill intercepts being recorded across a number of the lenses within the Woodlawn mineralized system. The consistency of high-grade results provides increased confidence in these new areas of mineralization, which are expected to be incorporated into the mine production plan for the feasibility study. The massive sulphide intercept reported for the recently discovered Lisa lens is also extremely encouraging.
E, G and H lenses
In undertaking the phase 2 program, the company has investigated opportunities to reduce project start-up time to first production and thereby reduce initial capital costs by targeting relatively shallow mineralized positions in a number of lenses (E, G, H). Recent assay results from these lenses continue to confirm the presence of very high grades over minable widths at depths that support this early production approach. An encouraging high-grade result was also returned from the lower part of the G lens in WNDD0074. Recent significant assays received are listed below, with drill hole details provided in an accompanying table.
- 1.3 metres of 33 per cent ZnEq from 283 metres (8.8 per cent Zn, 4.8 per cent Cu, 3.2 per cent Pb, 1.8 g/t Au, 168 g/t Ag), WNDD0074 (G);
- 1.8 metres of 25.0 per cent ZnEq from 106 metres (1.5 per cent Zn, 4.4 per cent Cu, 3.7 per cent Pb, 2.7 g/t Au, 145 g/t Ag), WNDD0081 (H);
- 3.8 metres of 11.8 per cent ZnEq from 80 metres (6.4 per cent Zn, 1.0 per cent Cu, 1.7 per cent Pb, 0.3 g/t, 17.7 g/t Ag), WNDD0084 (E);
- 2.9 metres of 35.4 per cent ZnEq from 96 metres (12.7 per cent Zn, 2.6 per cent Cu, 8.1 per cent Pb, 2.5 g/t Au, 202 g/t Ag), WNDD0088 (G);
- 1.8 metres of 32.3 per cent ZnEq from 116 metres (6.4 per cent Zn, 3.5 per cent Cu, 3.5 per cent Pb, 2.2 g/t Au, 341 g/t Ag), WNDD0089 (G);
- 6.1 metres of 12.2 per cent ZnEq from 50 metres (6.9 per cent Zn, 0.5 per cent Cu, 2.2 per cent Pb, 1.0 g/t Au, 36 g/t Ag) , WNDD0093 (E);
- 1.8 metres of 32.0 per cent ZnEq from 80 metres (13.8 per cent Zn, 1.3 per cent Cu, 8.6 per cent Pb, 0.8 g/t Au, 216 g/t Ag), WNDD0093 (E);
- 9.3 metres of 18.7 per centZnEq from 41 metres (8.2 per cent Zn, 0.7 per cent Cu, 3.2 per cent Pb, 1.6 g/t Au, 144 g/t Ag), WNDD0098 (E).
Kate lens -- copper zone
The recent assay result from WNDD0084 through the upper south end of the Kate Copper zone has confirmed the grade continuity of the copper zone in the hangingwall of the Kate lens polymetallic mineralization.
- 18.9 metres of 9.3 per cent ZnEq from 351 metres (2.6 per cent Cu, 0.7 g/t Au, 8.3 g/t Ag), WNDD0084 (Kate Copper).
While the overall metal grade of the copper zone is lower than the grade of the main Kate lens in ZnEq terms, its overall thickness (approximately 20 metres) and continuity make this an attractive mining target either during or after completion of mining of the main lens.
Lisa lens
One hole was drilled into the Lisa lens position at the end of the phase 2 program and returned an excellent high-grade massive sulphide intercept:
- 12.5 metres from 222 metres of polymetallic and copper massive sulphides (WNDD00104) -- assays pending.
The Lisa lens is now shaping up as an important addition to the shallow mining inventory, and this recent hole will bring the lens to an inferred mineral resource category for reporting as part of the feasibility study.
Feasibility study timetable
Now that the phase 2 drilling program has been completed, Heron will be focusing its efforts on completing the Woodlawn feasibility study, which it expects to deliver in the second quarter of 2016.
DETAILS OF MASSIVE SULPHIDE INTERCEPTS AND REPORTED GRADES FROM THE PHASE 2 DRILL CAMPAIGN
Downhole True
Hole No. From To width width ZnEq Zn Cu Pb Au Ag
(m) (m) (m) (m) (%) (%) (%) (%) (g/t) (g/t)
WNDD0023* 166.8 170 3.1 2.6 5.6 0.1 1.7 0 0.1 5.9
WNDD0024* 30 33 3.0 2.4 33.9 8.5 3.5 5.2 6.3 160.6
WNDD0025* 151.3 153.8 2.5 2.0 9.2 1.9 1.2 0.2 3.4 16.5
WNDD0026* 108.7 110.4 1.7 1.0 38.5 3.5 6.8 4.9 3.9 213
WNDD0027* 103.8 104.6 0.75 0.6 51.4 5.6 8.1 6.8 3.6 398
WNDD0029* 324.3 329.1 4.8 4.0 11.3 7.6 0.4 0.9 0.7 37.4
WNDD0029* 340 347.15 7.1 6.0 39.4 16.9 0.9 11.3 3.5 254.1
WNDD0031* 383.2 403.7 20.5 16.4 20.7 8.1 2.4 2.9 0.8 68
WNDD0032* 405.2 417.3 12.1 9.7 13.7 4.7 2.2 0.8 0.8 22.2
WNDD0033* 316.7 319.3 2.6 2.1 7.4 1.2 0.7 1.4 0.8 76.5
WNDD0033* 326 346.7 20.7 16.6 25.8 14.1 1 4.7 1.4 120.4
WNDD0033* 351.1 360 8.9 7.1 18.9 5.8 1.9 2.6 2.7 90.1
WNDD0035* 389.7 413 23.3 18.6 6.8 0.3 1.9 0 0.5 6.3
WNDD0037* 347.5 383 35.5 28.4 11.2 5.1 0.8 1.3 0.9 61.7
WNDD0038* 376.3 396.0 19.8 15.8 9.9 0.7 2.6 0.2 0.7 8.0
WNDD0039* 351.3 356.8 5.4 4.3 27.7 15.1 1.5 6 1 70.3
WNDD0042* 77.6 83.2 5.7 4.6 12.3 5.9 0.2 3.9 0.4 73.3
WNDD0044* 116.8 117.8 1.1 0.9 52.2 24 4.3 12.9 1.5 97.2
WNDD0045* 94.6 97.2 2.6 2.1 7.4 3.6 0.1 2.4 0.2 49.6
WNDD0046* 400.6 428.3 27.7 22.2 23.4 6.9 3.9 1.5 1 74.6
WNDD0050* 103.1 108.4 5.3 4.2 10.1 1.4 1.6 0.9 1.3 62.7
WNDD0053* 408.0 411.9 3.9 3.1 26.9 0 8.5 0 0.1 8.9
WNDD0053* 419.3 425.7 6.4 5.1 9.0 0 2.8 0 0.1 3.7
WNDD0054* 83.6 90.4 6.8 5.4 4.1 1.8 0.1 1.1 0.4 29.2
WNDD0054* 106.0 112.8 6.8 5.4 4.5 2.8 0.5 0.1 0 0.7
WNDD0057* 40.4 45.1 4.7 3.8 30.4 3.9 5.5 2.3 1.6 203
WNDD0058* 52.4 57.1 4.7 3.8 22.4 6.1 2.3 4 1.4 153.3
WNDD0062* 127.95 132.75 4.8 3.8 4.4 0.9 0.9 0.1 0.4 6.4
WNDD0062* 139.5 142.6 3.1 2.5 4.8 3.6 0.1 0.9 0.1 6.3
WNDD0064* 65.7 69.85 4.2 3.4 37.2 18.9 1.7 10.1 1 131.1
WNDD0066* 79.2 90.53 11.3 9.0 10.3 5.2 0.2 3.2 0.5 47.2
WNDD0068* 76.0 80.4 4.4 3.5 6.2 4 0.2 1.5 0.1 12
WNDD0070* 73.5 79.6 6.1 4.9 7.6 4.9 0.2 2.1 0.1 12.7
WNDD0071 332.1 333.4 1.3 1.0 15.3 9.1 0.8 3.2 0.6 18.1
WNDD0071* 377.8 399.7 21.9 17.5 13 0.3 3.7 0.1 0.8 16.8
WNDD0071* 405.0 411.5 6.5 5.2 7.8 4.5 0.6 0.9 0.5 12.5
WNDD0073* 365.6 366.6 1.1 0.9 5 0 1.5 0 0.2 4.4
WNDD0073* 369.7 378.8 9.1 7.3 31.6 18.3 2.3 4.6 1.1 53.7
WNDD0075* 294.0 308.0 14.0 11.2 5.1 0.2 1.4 0 0.4 5.1
WNDD0076* 79.4 82.2 2.8 2.2 16.8 9.7 0.2 4.7 1.5 47.2
WNDD0077* 127.3 135.5 8.2 6.6 6.6 3.2 0.8 0.3 0.3 14.5
WNDD0078* 22.4 25.4 3.0 2.4 19.7 10.8 0.5 3.9 1.6 96
WNDD0078* 55.1 59.7 4.6 3.7 47.2 24.4 1.1 13.6 1.4 241.1
WNDD0078* 63.5 66.5 3.0 2.4 58.7 28.5 2.1 13.1 2.2 372.9
WNDD0080 100.0 104.0 4.0 3.2 4.2 2.0 0.4 0.6 0.2 16.4
WNDD0081 105.8 107.6 1.8 1.4 25.0 1.5 4.4 3.7 2.7 145.1
WNDD0084 80.3 84.1 3.8 3.0 11.8 6.4 1.0 1.7 0.3 17.7
WNDD0085 261.9 264.8 2.9 2.3 10.8 1.5 2.3 0.8 0.8 24.9
WNDD0085 350.7 369.7 18.9 15.1 9.3 0.4 2.6 0.0 0.7 8.3
WNDD0086 97.7 101.3 3.7 3.0 2.6 0.3 0.4 0.2 0.4 18.2
WNDD0088 96.1 99.0 2.9 2.3 35.4 12.7 2.6 8.1 2.5 202.4
WNDD0089 110.3 111.5 1.2 1.0 7.9 0.1 0.9 0.6 1.1 117.0
WNDD0089 114.0 115.8 1.8 1.4 32.3 6.4 3.5 3.5 2.2 340.8
WNDD0093 49.9 51.4 1.5 1.2 21.4 12.3 0.2 6.2 1.4 71.9
WNDD0093 53.7 56.1 2.3 1.8 15.6 8.6 1.1 1.4 1.4 43.0
WNDD0093 80.4 82.1 1.8 1.4 32.0 13.8 1.3 8.6 0.8 216.5
WNDD0098 41.3 50.6 9.3 7.4 18.7 8.2 0.7 3.2 1.6 144.1
Notes: True width is an estimate of the actual thickness of the intercept based on
interpreted lens orientation (approximately 80 per cent to 90 per cent of downhole width,
with 80 per cent used in this table as a general guide); grades are weighted average grades,
weighted by length of samples intervals downhole, which are nominally one metre. No
weighting was applied for differences in specific gravity, which is most cases are relatively
low.
* indicates previously reported results.
Compliance statement
The technical information in this news release relating to the exploration results at the Woodlawn project is based on information compiled by David von Perger, who is a member of the Australian Institute of Mining and Metallurgy (chartered professional -- geology). Mr. von Perger is a full-time employee of Heron and has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a competent person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results and as a qualified person as this term is defined in Canadian National Instrument 43-101. Mr. von Perger has reviewed this press release and consents to the inclusion in this news release of the information in the form and context in which it appears.
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