RESOURCE ESTIMATE FORAUBILS NICKEL LATERITE DEPOSITSUMMARY.. An...

RESOURCE ESTIMATE FOR
AUBILS NICKEL LATERITE DEPOSIT
SUMMARY
.. An Inferred Mineral Resource of 43.8 Mt grading 0.78% nickel at a 0.50% nickel cut-off has been
estimated for Heron’s Aubils nickel laterite deposit.
.. The Aubils deposit is respectively 30km and 60km north of the other two Yerilla Project deposits,
Boyce Creek and Jump-up Dam. Aubils will be included in Heron’s Scoping Study evaluation of the
Yerilla Project using beneficiation and atmospheric leaching.
.. The total JORC compliant resource at the three Yerilla Project deposits (Jump-up Dam, Boyce Creek,
and Aubils) now stands at 135.4Mt grading 0.77% nickel at 0.50% nickel cut off (see below table for
JORC category delineation).
Heron Resources Limited (ASX: HRR) (Heron) is pleased to announce the completion of a mineral resource estimate on its
100% owned Aubils nickel laterite deposit. Aubils is located approximately 200 kilometres northeast of Kalgoorlie
(Figure 1). An Inferred Mineral Resource of 43.8 Mt grading 0.78% nickel at a 0.5% nickel cut off has been estimated in
accordance with the JORC Code (JORC 2004).
Estimated by Heron Resources from mostly recent Heron drilling data, the mineral resource is based on 323 reverse
circulation (RC) drill holes for 18,650 metres of drilling at hole spacings ranging from 80 metres east by 160 metres north to
160 metres east by 320 metres north.
Heron’s Managing Director, Mr Longworth, said that the Company is very pleased with this initial resource estimate for the
Aubils project.
“Heron’s total Yerilla resource now well surpasses the 100 million tonne mark. This is a significant milestone for the company
especially in combination with the resource in the Company’s Kalgoorlie Nickel Project.” said Mr Longworth.
“These resources give the Company confidence for the expanded Yerilla Project Scoping Study currently underway which is
evaluating the production of 20,000 tpa of nickel in intermediate product.”
Estimation Methodology
The resource was estimated by ordinary kriging into 80mE by 80mN by 4mRL size panels. Uniform conditioning (UC) was
subsequently carried out for nickel using selective mining unit (SMU) dimensions of 10mE by 10mN by 4mRL. This was
done in order to produce an estimate of the tonnage and grade recoverable by selective mining once close spaced drilling
(grade control) is carried out during future mining. Both the ordinary kriged parent block estimate and the uniform
conditioning selective mining unit estimate have been classified as Inferred Mineral Resources in accordance with the JORC
Code (JORC 2004). They are reported below for 0.50%, 0.70%, 0.75%, and 1.00% nickel block cut off grades: