Woodlawn DFS due for release before end June, says Heron

JOHANNESBURG (miningweekly.com) – The definitive feasibility study (DFS) results for minerals developer Heron Resources’ 100%-owned high-grade Woodland zinc-copper project in New South Wales (NSW) are scheduled for release before the end of the June quarter, the company announced on Monday.
 
The fully funded DFS would provide an updated mineral resource statement, an initial ore reserve statement for the underground project, an updated ore reserve statement for the tailings project, updated operating and capital cost estimates, and business case modelling.

This study would also underpin Heron’s funding campaign to bring the Woodlawn Project into production in 2018.
 
Heron Resources MD and CEO Wayne Taylor said he was pleased with the progress made to date, adding that the DFS remained on budget and on schedule for release before the end of June.
 
“The team is working very hard to make sure that we meet the DFS release schedule which, pleasingly, also coincides with a fundamental shift taking place in the zinc market, impacted by restricting global supply which, in turn, will support improved prices,” said Taylor.
 
“The restriction in global supply has been a result of some key industry players either curtailing their production output or closing their operations due to ore reserve depletion. This gives near-term development projects such as Heron’s the opportunity to step up and satisfy the growing demand needs.”
 
Taylor added that Woodlawn was perfectly placed to become a meaningful producer in the zinc market as early as 2018.
 
Heron further revealed that, following the release of the DFS results, a 2 500 m drilling programme would be undertaken focusing on the B Lens North and other near-mine targets, which were considered to be the highest ranking exploration targets with the potential to significantly grow the project after the current development phase.