Ann: Company Update - Hera Project Commences , page-3

Nice NR.

Timeline is more or less as expected, though maybe a bit conservative re: first production - but it all depends on the NSW gov ...


I especially liked the part about the new Federation target (p 6):

"NEW GOLD TARGET 12KM SOUTH OF HERA
Ground investigation of an untested gravity high approximately 12km south of Hera identified mineralised outcrops with strong rock chip results up to 2.5g/t Au and 0.1% Pb. A subsequent soil survey delineated a coherent north-west trending gold anomaly over 400m at >10ppb Au with peak values at 50ppb Au (refer figure below).

The gold-in-soil values are HIGHER THAN the response over the HERA deposit and the gold anomaly is coincident with the gravity high."

Comment: Not only does that mean that we might have a potential second Hera mine in trucking range (reduced capex!), it also means that some of the other gravity highs in our prospective corridor might be future gold mines, too ...

The part about the new copper-cobalt target sound good, too ... (p7).

The Nymagee drilling (p7) hasn't turned up anything new, but that's just a matter of time imO.

P.S. Anybody ever asked management what happened to ZEUS? We are still waiting for drill results from that one, IIRC ...


@tuapui
Well, if the market were rational, we should get there as soon as financing is final and we get the mining lease.

Since Mr Market is highly irrational these days, I won't venture any guesses. Copper climbing above 3,70 should help ... (but it didn't today).