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Heron Drilling Intersects Significant Mineralisation at Currawang
Heron has completed two diamond drill holes, of a four hole program, for 1,166m at the Currawang Prospect, 10km north west of Woodlawn Hole CWDD0002, targeting below the known main lens, intersected 5.3m of semi-massive and stringer-style zinc and copper sulphide mineralization from 486m down-hole. This is interpreted to represent a new zone (lens?) of significant …
- Heron has completed two diamond drill holes, of a four hole program, for 1,166m at the Currawang Prospect, 10km north west of Woodlawn
- Hole CWDD0002, targeting below the known main lens, intersected 5.3m of semi-massive and stringer-style zinc and copper sulphide mineralization from 486m down-hole. This is interpreted to represent a new zone (lens?) of significant mineralisation directly to the east and below the main lens.
- A full 50% of direct drilling costs are funded by the New South Wales Government’s Cooperative Drilling Program
Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the “Company”) is pleased to provide an update to the drilling program underway at its wholly owned Currawang prospect located 10 kilometres north west from the Company’s Woodlawn Zinc-Copper Project in New South Wales, Australia.
Commenting on the drilling progress, Heron’s Managing Director, Mr Wayne Taylor said: ”The sulphide intercept and interpreted geology is a very exciting development at Currawang as we are seeing direct evidence of a broader mineralised system than previously contemplated. In addition to the drilling results we anticipate receiving from the next two holes, the drilling campaign is designed to establish an expansive platform for down-hole electromagnetic modelling (DHEM), providing geophysical targeting well beyond the strike-length of the known mineralised occurrence. While still at early stages, we are looking forward to completing the program to establish the next phase of work at what could be the next chapter to Woodlawn’s growth.“
Currawang Prospect
As described in the release dated 31 July 2017, a program of four holes for 2,150m is underway at Currawang with two holes for 1,166m completed. The program is targeting potential extensions to, as well as possible new lenses, associated with high-grade volcanic massive sulphide (VMS) mineralisation that was previously mined (approximately 0.5Mt) in the mid- 1990’s; this is the first drilling program at Currawang since 1996.
The first hole (CWDD0001) targeted the along-strike extension to the north of the main Currawang Lens (Figure 1) in an area of limited historic drilling. This hole intersected a broad interval (38m, from 341m down-hole) of moderate to intense sericite, silica, pyrite, and chlorite alteration within a strongly foliated, and in-part, brecciated basalt (the Currawang Basalt). Within this interval is 16m of intense alteration and minor stringers of zinc sulphides with lesser lead and copper sulphides. These stringers sulphides are analogous to, and represent, the mine horizon; as well, the intensity of the alteration indicates potential proximity to high-grade mineralisation.
The second drill hole (CWDD0002) targeted the down-plunge extension to the main Currawang Lens (Figure 1) and intersected 5.3m of 5-10cm stringers and semi-massive zinc sulphide mineralization (Figures 2 and 3) from 485.7m within a broad zone of alteration hosted by the basalt sequence. Copper sulphides within this zone are probably responsible for the weak, historic DHEM anomaly measured in this area.
This hanging-wall zone of mineralisation represents a potential new zone, or lens, of mineralisation at Currawang and subject to receipt of assay results, will warrant follow-up drilling,. The hole (CWDD0002) continued to a depth of 640m and passed through a broad (50m+) zone of intense chlorite alteration with minor copper-sulphide stringers. Such chlorite zones are typically associated with the feeder zones which lead into, and feed, the main VMS lenses; these alteration zones therefore provide encouragement that stronger grades of mineralisation could be nearby.
Both drill holes are currently being sampled and assays are expected within a few weeks. The holes are being cased with PVC pipe and will be surveyed with DHEM at the completion of the program. The two remaining proposed holes are shown on the long section in Figure 1.
The program is part of the NSW Government’s Cooperative Drilling Program with 50% of the direct drilling costs being reimbursable to Heron.
About Heron Resources Limited:
Heron’s primary focus is the development of its 100% owned, high grade Woodlawn Zinc-Copper Project located 250km southwest of Sydney, New South Wales, Australia. In addition, the Company holds a significant high quality, gold and base metal tenement holding regional to the Woodlawn Project.
For further information,
please visit www.heronresources.com.au or contact: Australia: Mr Wayne Taylor Managing Director and Chief Executive Officer Tel: +61 2 9119 8111 or +61 8 6500 9200 Email: heron@heronresources.com.au Jon Snowball FTI Consulting +61 2 8298 6100 jon.snowball@fticonsulting.com Canada: Tel: +1 647-862-1157 (Toronto)
Compliance Statement (JORC 2012 and NI43-101)
The technical information in this report relating to the exploration results is based on information compiled by Mr. 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 Resources Limited and has sufficient experience, which is relevant to the style of mineralisation 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 “qualified person” as this term is defined in Canadian National Instrument 43-101 (“NI 43-101”). Mr. von Perger has approved the scientific and technical disclosure in the news release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
This report contains forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws, which are based on expectations, estimates and projections as of the date of this report. This forward-looking information includes, or may be based upon, without limitation, estimates, forecasts and statements as to management’s expectations with respect to, among other things, the timing and amount of funding required to execute the Company’s exploration, development and business plans, capital and exploration expenditures, the effect on the Company of any changes to existing legislation or policy, government regulation of mining operations, the length of time required to obtain permits, certifications and approvals, the success of exploration, development and mining activities, the geology of the Company’s properties, environmental risks, the availability of labour, the focus of the Company in the future, demand and market outlook for precious metals and the prices thereof, progress in development of mineral properties, the Company’s ability to raise funding privately or on a public market in the future, the Company’s future growth, results of operations, performance, and business prospects and opportunities. Wherever possible, words such as “anticipate”, “believe”, “expect”, “intend”, “may” and similar expressions have been used to identify such forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the information is given, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties, assumptions and other factors that could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking information. These factors, including, but not limited to, fluctuations in currency markets, fluctuations in commodity prices, the ability of the Company to access sufficient capital on favourable terms or at all, changes in national and local government legislation, taxation, controls, regulations, political or economic developments in Canada, Australia or other countries in which the Company does business or may carry on business in the future, operational or technical difficulties in connection with exploration or development activities, employee relations, the speculative nature of mineral exploration and development, obtaining necessary licenses and permits, diminishing quantities and grades of mineral reserves, contests over title to properties, especially title to undeveloped properties, the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drill results and other geological data, environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins and flooding, limitations of insurance coverage and the possibility of project cost overruns or unanticipated costs and expenses, and should be considered carefully. Many of these uncertainties and contingencies can affect the Company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Prospective investors should not place undue reliance on any forward-looking information. Although the forward-looking information contained in this report is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure prospective purchasers that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forwardlooking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law. No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this report.
Source: www.heronresources.com.au
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