Heron Resources Limited (ASX:HRR TSX:HER, “Heron” or the
“Company”) is pleased to advise that it has placed initial
orders for a number of items of equipment that are on the project
critical path for the development of the Woodlawn Zinc-Copper
Project located 250km southwest of Sydney, New South Wales,
Australia.
- First project orders have been placed for long lead,
critical path equipment at Woodlawn
- Equipment orders include:
- IsaMill M10000 fine grinding mill
- Outotec floatation cells
- Outotec thickeners
- Orders have been placed under the EPC contract with
Sedgman and are expected to have a positive impact on the project
delivery schedule
The procurement of this equipment follows an analysis of the
development schedule aimed at identifying the long lead items
sitting on the critical path to first production. The items are
integral to the processing facility and include:
- IsaMill M10000 fine grinding mill (value USD4.4M)
- Outotec floatation cells (value AUD4.9M)
- Outotec thickeners (value AUD1.2M)
The placement of the orders is expected to have a positive
impact on the overall schedule and have been placed under the EPC
contract with Sedgman.
Commenting on this development, Heron’s Managing Director, Mr
Wayne Taylor said “The placement of orders for long lead items will
ensure that after securing project finance we are able to optimise
the development schedule for Woodlawn. We expect construction will
commence immediately after our project financing is completed at
the end of this month”.
To view Figure 1: 3D view of the Woodlawn process plant, please
click on the link
http://www.heronresources.com/tsximages/20170814/170814_Fig
1.jpg
The process treatment facility will be delivered in stages that
aligns with mine development at Woodlawn. The processing facility
will have a rated throughput capacity of 1.5 Mtpa when treating the
reclaimed tailings ore and 1.0Mtpa when treating underground ore.
The facility will commence with the tailings reprocessing and will
switch over to underground processing when ore is available. Three
separate base metal concentrates will be produced, namely, zinc,
copper and lead with precious metal credits in the copper and lead
concentrates.
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.
Following the release of the Woodlawn Feasibility Study in 2016,
the Company announced on 30 June 2017 that it had secured an A$240
million financing package for the development of the project1.
1 Transaction is subject to various conditions precedent
including Heron shareholder approval. Refer to Heron’s market
release of 30 June 2017 ‘Heron Secures Complete A$240 Million
Funding Package for Development of its Woodlawn Zinc-Copper
Project’
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 forward-looking 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.
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)