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Resource & Reserves

Woodlawn Underground Mineral Resource Estimate 2018
7% ZnEq cut-off grade for Polymetallic and 1% Cu cut-off grade for Copper
Type Resource Category Quantity (Mt) ZnEq (%) Zn (%) Cu (%) Pb (%) Au (g/t) Ag (g/t)
Polymetallic Measured 0.5 24.4 13.7 1.3 4.9 0.3 80
Indicated 2.2 21.0 10.2 1.5 3.9 0.8 78
Inferred 1.9 16.9 7.3 1.5 3.0 0.8 61
All 4.6 19.6 9.4 1.5 3.6 0.7 71
Copper Indicated 1.9 9.7 0.7 2.6 0.1 0.2 14
Inferred 0.7 9.2 0.7 2.5 0.1 0.1 12
All 2.6 9.5 0.7 2.6 0.1 0.2 14
All Total 7.2 16.1 6.3 1.9 2.4 0.5 51

Notes:

  • Please refer to the end of the report for Qualified Persons statements.
  • ZnEq refers to a calculated Zn equivalent grade the formula for which is stated at the end of the report.
  • Polymetallic Type refers to polymetallic massive sulphide mineralisation with high-grade Zn and Pb; Copper Type refers to Cu dominated massive and stringer sulphide mineralisation.
  • Some rounding related discrepancies may occur in the totals.
  • The Mineral Resource is reported in accordance with the the JORC Code (2012).
  • Further details of the Mineral Resources estimation are provided in the JORC Code (2012) Table 1 at page 8 of the announcement dated 13 November 2017.
Woodlawn Reclaimed Tailings Mineral Resource Estimate 2015
Reported with no cut-off grade applied
Type Quantity (Mt) ZnEq (%) Zn (%) Cu (%) Pb (%) Au (g/t) Ag (g/t)
Measured + Indicated Mineral Resources
North Dam 2.7 6.0 2.40 0.42 1.30 0.27 34
South Dam 3.3 6.0 2.50 0.46 1.20 0.25 27
West Dam 3.8 6.5 2.0 0.62 1.40 0.40 35
Total Mea + Ind 9.8 6.2 2.30 0.51 1.3 0.31 32
Inferred Mineral Resources
North Dam 0.2 6.2 2.40 0.42 1.30 0.27 34
South Dam 0.9 5.6 2.30 0.48 1.20 0.25 24
West Dam 0.0 - - - - - -
Total Inf 1.1 5.8 2.30 0.47 1.20 0.25 27
Total Mea+Ind+Inf 10.9 6.2 2.30 0.51 1.29 0.30 32

Notes:

  • The Mineral Resource estimate, originally published on Heron’s website and SEDAR under the NI43-101 guidelines, is entitled Woodlawn Retreatment Project Mineral Resources Technical Report with an effective date of 30th November 2015 and authored by Mr Robin Rankin (MAusIMM CP Geology) of independent consulting firm GeoRes. Heron confirms that it is not aware of any new information or data that materially affects the information included in this report and that the form and context in which the Mr Rankin’s findings are presented have not been materially modified.
  • ZnEq (%) refers to a calculated Zn equivalent grade the formula for which is stated at the end of the report.
  • Some rounding related discrepancies may occur in the totals.
Woodlawn Underground Mineral Reserve Estimate 2016
Type Reserve Category Quantity (Mt) Grades
ZnEq (%) Zn (%) Cu (%) Pb (%) Au (g/t) Ag (g/t)
Polymetallic Proven 0
Probable 1.8 16 8.1 1.2 2.9 0.56 57
Copper Proven 0
Probable 0.96 8.8 0.61 2.4 0.13 0.23 14
Total Probable 2.8 14 5.5 1.6 1.9 0.45 42

Notes:

  • Please refer to the announcement for Qualified Persons statements;
  • Reported at cut-off grades determined by economic and metallurgical factors;
  • This estimate has been prepared in accordance with the JORC Code (2012) and the NI43-101 guidelines. Further details for the estimate can be found in Appendix 1 and the JORC Code (2012) Table 1 at the end of the announcement;
  • Some discrepancies in totals may occur due to rounding of numbers;
  • ZnEq (%) refers to a calculated Zn equivalent grade the formula for which is stated in Appendix 2 of the announcement.
Woodlawn Tailings Mineral Reserve Estimate 2016
Reported with no cut-off grade applied
Reserve Category Tonnes (Mt) ZnEq (%) Zn (%) Cu (%) Pb (%) Au (g/t) Ag (g/t)
Proven 6.4 6.0 2.2 0.5 1.3 0.29 31
Probable 3.2 6.0 2.1 0.5 1.3 0.33 32
Total (Proven + Probable) 9.5 6.0 2.2 0.5 1.3 0.31 31

Notes:

  • Combined tailings estimate for the North, South and West Tailings Dams;
  • This estimate has been prepared in accordance with the JORC Code (2012) and the NI43-101 guidelines;
  • Please refer to the announcement for Qualified Persons statements;
  • ZnEq (%) refers to a calculated Zn equivalent grade the formula for which is stated in Appendix 2 of the announcement;
  • Reported at cut-off grades determined by economic and metallurgical factors;
  • Further details for the estimate can be found in Appendix 1 and the JORC Code (2012) Table 1 at the end of the announcement;
  • Some discrepancies in totals may occur due to rounding of numbers.