- Havilah Resources (HAV) receives assays from four holes drilled at the Kalkaroo Project in South Australia
- Reverse circulation drilling tested breccia-hosted copper-gold mineralisation on the eastern side of the Kalkaroo orebody
- Drilling successfully intersected widespread copper and gold mineralisation which is closely associated with highly brecciated and veined host rocks
- Alongside planned work on the western side of the project, Havilah intends to follow up on the mineralisation with further drilling
- Company shares are up 5.95 per cent to trade at 22.3 cents
Havilah Resources (HAV) has received assays from four holes drilled at the Kalkaroo Project in South Australia.
Kalkaroo has a JORC mineral resource of 1.1 million tonnes of copper, 3.1 million ounces of gold and 23,200 tonnes of cobalt. It also has an open-pit JORC ore reserve of 100.1 million tonnes at a copper equivalent grade of 0.89 per cent.
The reverse circulation (RC) drill holes were drilled at the East Kalkaroo area to test for breccia-hosted copper-gold mineralisation on the eastern side of the Kalkaroo orebody.
Positively, RC drilling intersected widespread copper and gold mineralisation in all drill holes. The mineralisation is closely associated with highly brecciated and veined host rocks within or adjacent to the Kalkaroo fault zone.
Best results include 39 metres at 1.62 per cent copper from 131 to 170 metres, 59 metres at 0.83 per cent copper and 0.28 grams of gold per tonne (g/t) from 145 to 204 metres, 15 metres at 1.59g/t gold from 118 to 133 metres, and 34 metres of 0.7 per cent copper and 0.78g/t gold from 100 to 134 metres.
Technical Director Dr Chris Giles was pleased with the excellent drill results.
“These results highlight the possibility of breccia-vein-style copper and gold mineralisation below the current Kalkaroo JORC mineral resource that may have bulk tonnage underground mining potential.”
Alongside planned work on the western side of the project, Havilah intends to follow up on the mineralisation with further drilling.
Havilah’s first priority however is completing preparation work at West Kalkaroo to begin development of the West Kalkaroo gold open pit next year once a final investment decision is made.
Company shares were up 5.95 per cent to trade at 22.3 cents at 1:19 pm AEST.