Discovering and Developing World Class Ore Bodies

Welcome to the Heron Resources Limited web site. Through this site you will be kept up-to-date with what is happening with the Company, as well as presenting a record of Heron's historical development.

Highlights

Management

  • Jonathan Shellabear appointed as Managing Director. Mr Shellabear is a senior executive with extensive experience in the Australian and international mining industries having held senior corporate and investment banking roles with NM Rothschild & Sons (Australia) Limited and Deutsche Bank. Most recently he was the Managing Director and Chief Executive Officer of Dominion Mining Limited, a position he held until February 2011 following the completion of the agreed takeover of Dominion by Kingsgate Consolidated Limited.
  • Heron has a very compact and experienced Management Team of three geoscientists, responsible for Business Development, Development Projects and Exploration Projects.

Corporate

  • Heron remains in a strong financial position with a 30 September 2011 cash balance of $45.8M, with outgoings minimized through efficient staffing levels.
  • Heron is well positioned to pursue significant Business Development opportunities which continue to be identified and systematically evaluated by the Management Team.
  • The offer rate to Heron in Business Development has significantly increased since March 2011.

Development Projects

Kalgoorlie Nickel Project

  • 744Mt at 0.73% Nickel and 0.044% Cobalt, significant Iron credits
  • Potential to produce 37,000tpa Nickel in intermediate product over a 35 year mine life
  • Metallurgical optimizing studies current, commenced research project into ore types with internationally accredited research group CSIRO.
  • The Company retained an international engineering consultancy to advise on the treatment and future marketing of potential iron-nickel targets identified within the KNP. The consultancy is a world-renowned group and has specialist expertise in the processing and marketing of iron-nickel.
  • An initial combined iron-nickel resource at the Goongarrie South deposit has been estimated at 48.5Mt at 41% iron and 0.65% nickel. An estimation of other iron-nickel resources elsewhere within the KNP has not yet been completed.
  • Internationally recognized metallurgical laboratory SGS Lakefield Oretest has commenced bench-scale metallurgical test-work of an iron-nickel bulk sample.

Yerilla Nickel Project

  • 135Mt at 0.77% Nickel and 0.05% Cobalt, significant Iron credits
  • Metallurgical optimizing studies current, including conventional leach and thermal upgrade technology
  • Shanshan may earn 70% by commissioning production, joint venture agreement in current extension of term negotiations

Exploration Projects

Shay Gap Iron Ore

  • Gravity anomalies in potential Detrital Iron Deposit (DID) positions are being drill tested, aiming to locate palaeo-channel ore positions

Black Range Nickel-Copper-PGM

  • Surface EM surveying across highly anomalous nickel-copper-PGM soil anomalies was completed and a drilling program is proposed in the December 2011 Quarter to test these geochemical and EM anomalies

Mt Zephyr Base Metal

  • Seven diamond holes completed for 3,227, sulphides intersected in all holes, with most significant intersection of 9m @ 0.67% zinc and 0.16% lead
  • Drilling confirms distal iron rich zone of a VMS system, exploration target is to now define the high grade proximal part of the VMS system
  • Down-hole EM has defined the next round of drill targets

Mt Zephyr Gale Gold

  • Strong gold anomaly of 50-273ppb over 800m of strike, 37 hole RAB program planned to test the anomaly

Binneringie Gold

  • A 411m diamond drill hole was completed to test a discrete circular magnetic anomaly, strong magnetite-pyrrhotite-pyrite-chlorite alteration at 100-172m, assays awaited

Bare Hill Gold

  • Reconnaissance RAB drilling identifies significant anomalous zone over 2,000m
  • confirmed a mineralized system with intercepts including 8m at 1.76g/t gold and 4m at 2.79g/t gold

A1 Gold Mine - Sale agreement and IPO

Heron entered into an Agreement with Gaffney's Creek Gold Pty Ltd and A1 Consolidated Gold Ltd relating to interlinked transactions which will result in:

  • A1 Consolidated Gold acquiring the A1 Gold Mine in Victoria;
  • Heron and Gaffney's Creek becoming foundation shareholders in A1 Consolidated Gold; and
  • A1 Consolidated Gold listing on the ASX through an IPO of its shares.

It is expected that a Prospectus will be lodged in late 2011.

See the A1 Gold Mine page for full details of Heron's work at A1.

[photo]

Massive sulphides, Mt Zephyr Project

Ian Buchhorn, Investor Relations

Any enquiries at all, give Ian a call on (08) 9215 4444 or email.

Independent research - November 2007

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Latest independent research - January 2008