CVRD-Inco completes 2nd stage of Kalgoorlie Nickel evaluation

CVRD-Inco has completed the second stage of evaluation of the Kalgoorlie Nickel Project, managed in a joint venture with Heron Resources Ltd, the West Perth-based company has announced.

The third stage will involve the delivery of a pre-feasibility study on or before the end of January 2009, after which there is a six month period to evaluate the results of the pre-feasibility study.

The full text of a Heron announcement is pasted below

Heron Resources Limited (ASX:HRR) is pleased to announce it has today been informed by Kalgoorlie Nickel Project managers CVRD-Inco, a wholly-owned subsidiary of CVRD, that they have completed the work required for Step 2 of the Evaluation Phase and will make a decision as to whether to proceed to Step 3 by November 30th 2007, as pursuant to the Kalgoorlie Nickel Project Farm-in and Joint Venture Agreement.

Step 3 of the Evaluation Phase involves the delivery of a pre-feasibility study on or before the end of January 2009 after which there is a six month period to evaluate the results of the pre-feasibility study.

Heron will provide the market with a summary of results from the work completed during Step 2 when CVRD-Inco makes those results available.

When CVRD-Inco informs Heron of its decision on Step 3 Heron will inform the market.