Woodlawn Zinc-Copper Project – Project Development Progress
- On track to start commissioning in fourth quarter – on time and within budget
- Final major operating contracts now in place – tailings mining, electricity supply & concentrate logistics
- Overall EPC completion at 62% by 30 June – including earthworks 100%, equipment procurement 93%, concrete placement 87%
- Progressive establishment of underground and reclaimed mining areas
- Good progress with operational recruitment
- Key fine grinding equipment, IsaMillTM, delivered to site after the end of the quarter
Woodlawn Exploration
- Diamond core drilling: 17 holes for 3,225m targeting the G2 and Lisa Lens positions completed
- G2 Lens: (14 holes for 2,411m) extension and definition program completed with significant results to date of:
- 6.1m grading 37.2% ZnEq from 120.3m (22.0% Zn, 1.0% Cu, 7.1% Pb, 3.3g/t Au, 115g/t Ag) WNDD0138 G2HW
- 1.9m grading 8.2% ZnEq from 138.3m (4.1% Zn, 0.3% Cu, 2.2% Pb, 0.5g/t Au, 27g/t Ag) WNDD0138 G2 Main
- 8.3m grading 15.6% ZnEq from 128.7m (8.2% Zn, 0.3% Cu, 4.8% Pb, 0.6g/t Au, 62g/t Ag) WNDD0139 G2 Main
- 6.5m grading 5.6% ZnEq from 153.5m (3.7% Zn, 0.2% Cu, 1.2% Pb, 0.1g/t Au, 9g/t Ag) WNDD0140 G2 Main
- Several sulphide intercepts were drilled late in the quarter with assays pending
- Lisa Lens: (3 holes for 725m) a significant copper intercept was returned in the upper part of the lens providing support to add to the early mine schedule. Further definition drilling to be conducted from underground
- 8.6m @ 12.5% ZnEq (3.6% Cu) from 203m (WNDD0135)
Woodlawn Regional Exploration
Peelwood: Electromagnetic anomalies (2014 airborne survey) potentially related to base metal mineralisation defined north of the John Fardy and Cordillera prospects provide walk-up drill targets, with drill approvals currently being progressed
Corporate
- Cash: Heron held A$74.3 million in cash (including bonds of A$8.77 million) and A$7.9 million in investments as at 30 June 2018
- Debt: US$20 million senior secured facility was drawn down during the June quarter. US$40 million senior secured facility remains undrawn
Add Comment