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Heron Resources Ltd.
Summary
| Project: | Lewis Ponds | |
|---|---|---|
| Deposit: | Lewis Ponds | |
| Location: | Australia | |
| Commodities: | Zinc-Gold | |
| Date: | 1/6/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-1-2017: Heron Resources Ltd. announces a Resource Estimation report for its Lewis Ponds deposit at the Lewis Ponds project. Bulk tonnage Exploration Target defined. Heron Resources Limited (Heron or Company) is pleased to provide an update on Ardea Reso | |
| Resources: | Exploration Target: 15 - 25Mt @ 2.2% - 3.7% ZnEq (1.2g/t - 2.0g/t AuEq) | |
| CP/QP: | [Overall Report]: Ian Buchhorn (Internal) | |
| ABSTRACT: | Heron Resources Limited (Heron or Company) is pleased to provide an update on Ardea Resources Limited (Ardea) and its project activities, as disclosed in the prospectus (Prospectus) lodged with the Australian Securities and Investments Commission on 9 November 2016 and Supplementary Prospectus lodged 18 November 2016. Ardea’s management team has completed preparatory field programs including rock chip sampling ahead of the 2017 listing and project drilling. The recent focus has been on resource estimation and preparation of drilling approvals at Goongarrie South, Black Range and Kalpini (KNP Cobalt Zones) and at Lewis Ponds, and scoping of metallurgical and feasibility work for the KNP Cobalt Zone deposits and the Lewis Ponds stringer mineralisation. At Lewis Ponds, “the mineralisation is accepted as Volcanogenic Massive Sulphide (VMS) type” (Prospectus, page 46). The mineralisation as described is multiple lenses (1, 2 and 3) of massive stratabound base metal sulphides hosted within the Anson Formation pyritic siltstones. Exploration has historically been on the basis of a narrow high grade underground mining model, and has generated a mineral resource totaling 6.6Mt at 1.5g/t gold and 2.4% zinc2 estimated at a 3% ZnEq cut-off grade (refer Prospectus Table 3.2 for full description of resource status). As noted in the Prospectus (page 44), Lewis Ponds “occurs on the Lewis Ponds Fault; a subsidiary fault to the Godolphin Fault. The region is well known for being prospective for a variety of deposit types, especially VMS deposits and orogenic gold deposits.” | |
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