South Australia-focused developer Havilah Resources Ltd (ASX:HAV) has discovered molybdenum grading 0.21 percent over 30 metres and 4.79 grams of gold over 5 metres at the North Dome Closure (NDC) prospect of its Kalkaroo deposit in the state’s northeast.
Two reverse circulation holes drilled at the dome’s eastern flank yielded notable intercepts.
In the first, these included 30 metres of 0.21 percent molybdenum (for 1.30 percent copper equivalent) from 150 metres, as well as 0.36 percent associated copper, gold up to 0.82 grams per tonne, uranium up to 295 parts per million (ppm), and up to 308 ppm yttrium and 39 ppm dysprosium respectively.
In another hole, gold grading up to 4.79 grams per tonne over 5 meytres.
The dome – located 10 kilometres north northwest of the Kalkaroo deposit – is associated with low grade copper, gold, uranium and heavy rare earth element mineralisation, and shares a similar north plunging dome structure.
Havilah’s Technical Director Dr Chris Giles said the company has not expected to find molybdenum over such a long interval through this drilling work.
“We were following up widespread anomalous copper results in earlier shallow 1997 Newcrest aircore drilling, so discovery of the 30 metre interval of molybdenum mineralisation and the high grade gold were both pleasant surprises,” he said.
“Molybdenum grades of 0.21 percent would be considered as exceptional compared with the sub-0.05 percent resource grades in many of the large porphyry deposits, which are currently the chief source of molybdenum.
“This, combined with the approximately 12 km of untested K2 unit prospective strike around the dome, highlights the discovery possibilities at the NDC prospect, including for the hitherto unexpected molybdenum.”
Havilah has been trading at 21 cents.