Woodlawn Drilling Update Further Shallow High-Grade Results

Sydney, Australia (FSCwire) - Heron Resources Ltd. (“Heron” or the “Company”) is pleased to report further high grade assay results from a number of massive sulphide intercepts with a focus on shallow positions. 

The intercepts in the E, G and H Lenses are particularly encouraging as they represent high grade intercepts at relatively shallow depths with these positions remaining open in a number of directions. In addition, a further result for Kate Lens continues to extend the Mineral Resource boundary for this lens.

The latest assay results and massive sulphide intercepts form part of the successful 2014 drilling program targeting a revised Woodlawn Mineral Resource to be used in the Preliminary Economic Assessment for the Woodlawn Underground Project.  

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

Assay results for diamond holes WNDD0010 - 14 have been received and have returned strong results in the E, G, H and Kate Lenses (see Figures 1-3 below). Significant intercepts include:

WNDD0010: Three 1m intercepts at 1.6% Cu between 353-366m depth (Kate Lens)

WNDD0011: 5.9m at 6.3% Zn, 3.2% Cu, 1.7% Pb, 1.3g/t Au, 74g/t Ag from 348m  (Kate Lens)

WNDD0012: 5.8m at 3.6% Zn, 0.7% Cu, 1.5% Pb, 1.0g/t Au, 60g/t Ag from 74m (H/G Lens)

WNDD0012: 4.2m at 14.8% Zn, 2.2% Cu, 6.2% Pb, 0.7g/t Au, 37g/t Ag from 135m (E Lens)

WNDD0013: 9.3m at 6.4% Zn, 3.2% Cu, 2.8% Pb, 2.4g/t Au, 151g/t Ag from 76m (G Lens)

WNDD0014: 2.1m at 3.1% Zn, 6.5% Cu, 1.3% Pb, 1.2g/t Au, 146g/t Ag from 61m (G Lens)

Hole WNDD0010 intersected mostly pyritic mineralisation in the lower south corner of the Kale Lens and, while assays do not represent economic grades under current conditions, it does replicate the pyritic mineralisation seen on the margins of other Woodlawn lenses. The high grade result for hole WNDD0011 extends the upper northern boundary of the Kate Lens and it remains open above and to the north of this intercept, where a further hole is currently being drilled.

The three high grade shallow intercepts recorded in holes WNDD0012, WNDD0013 and WNDD0014 demonstrate the near surface prospectivity that still remains at Woodlawn and represent high-grade, albeit relatively narrow massive-sulphide zones, that can be exploited early in the future operation’s life.  They also demonstrate the multiple lens system that occurs at Woodlawn and which provides excellent opportunities to incrementally expand the Mineral Resource base with further targeted drilling. 

New Intercepts

The drilling continues to generate new massive sulphide intercepts based on step out targeting of the Kate Lens and other positions.  Recent intercepts include:

WNDD0016: 9.4m of copper-rich massive sulphides from 437m (Kate Lens)

WNDD0017: 9.5m of complex and copper-rich massive sulphides from 254m (D Lens)

WNDD0017 was also targeting the up-dip positon of the new Lisa Lens position, however, it appears the lens has been stoped out here due to late stage dolerite sills that have intruded the host stratigraphy.  DHEM will be used to better understand the position of this new lens prior to follow-up drilling commencing.  WNDD0017 was continued through to intersect the D Lens position and successfully penetrated a zone of massive sulphides of similar tenor and thickness to the previously modelled portion of this lens.

Figure 1: Plan overview of the Woodlawn Lenses showing pit and existing underground decline.

To view the graphic in its original size, please click here

DHEM Surveys

The DHEM crew is scheduled to arrive on site this week to survey a number of the recent drill holes. This survey should provide good insight into the placement of further follow-up holes for potential resource expansion.

In addition, the EM crew will be undertaking a surface EM survey over the former Currawang Mine in a prospective position to the south of the known mineralisation.

Drilling Program Overview

The diamond drilling is continuing at Woodlawn with three rigs currently in operation, two conducting exploration/resource drilling and the third testing the geotechnical conditions for the proposed box-cut, portal and access to the existing decline on the eastern side of the pit. Whilst the initial drilling program is nearing completion, it has achieved the objective of defining the Kate Lens mineralisation plus identified a number of new or extensional mineralised positions that will be included in updated Mineral Resource estimate as part of the Preliminary Economic Assessment study on the Woodlawn Underground Project.

To complete the first phase drilling program, one hole is being drilled to test the north extension of the Kate Lens and a further hole is being drilled to test below the southern end of the Woodlawn open 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 .This hole has had limited follow up drilling. 

Full details of the holes drilled and assay results to date are provided in Tables 1 and 2 at the end of this report.

About Heron Resources Limited:

Heron is engaged in the exploration and development of base and precious metal deposits in Australia.  Heron’s projects include the high grade Woodlawn Zinc-Copper Project located 250km southwest of Sydney, New South Wales, and the Kalgoorlie Nickel Project located north of Kalgoorlie, Western Australia.  In addition the Company holds a number of other high quality exploration properties located in the Lachlan Fold Belt, New South Wales.

For further information, please visit www.heronresources.com.au or contact:

Australia:

Mr Wayne Taylor, Managing Director and Chief Executive Officer:

Tel: +61 8 9215 4444

Email: heron@heronresources.com.au

Canada:

Tel: +1 905 727 8688 (Toronto)

Figure 2 (top): Cross section through the Woodlawn underground lenses looking north.  Figure 3 (bottom): Long-section looking east for the Kate Lens showing recent drilling and modelled DHEM plate.

To view the graphic in its original size, please click here

Technical Information

Table 1 Drill hole details for diamond drill holes relevant to this update