This process of extraction is known as the rosin technique. Rosin will be a pure concentrate of your plants medicinal properties, having a sweeter taste, and more potent effect in smaller dosages. Using the heating iron you can also produce hash oils from marijuana keif and refine your bubble hash into a more liquid, dabbable form.
The return of oil on a small nugget will yield a 7-10% rosin oil in your parchment paper and will take several nuggets to yield a lot of resin, but 7-10% percent of oil should be enough for one to two fairly decent dabs.
The effect of rosin, like all concentrates, will be much cleaner than just smoking, where changes in heat of the nugget itself produce more carbon based poisons that are consumed by open flame. Therefore, rosin, is a quicker way to getting to the point of high you want to achieve and is much healthier than smoking.
Be warned though, inexperienced users may not be as ready as experienced users who know that onset may creep up on them after 10 to 15…