- Havilah Resources (HAV) updates the market regarding drilling at the Kalkaroo copper-gold-cobalt deposit in South Australia
- Over the past few months, the company has been focusing on advancing several tasks that are required to begin open pit mining
- Five reverse circulation holes were drilled with grades peaking at 1.96 per cent copper and 0.91 grams of gold per tonne (g/t)
- Additionally, infill drilling has been completed to gain greater confidence in the mineral resource
- Havilah has ended the day 2.44 per cent in the green with shares trading at 21 cents
Havilah Resources (HAV) has updated the market regarding drilling at the Kalkaroo copper-gold-cobalt deposit in South Australia.
Over the past few months the company’s focus has been on advancing several tasks that are required to begin open pit mining.
Additionally, infill drilling has been completed to gain greater confidence in the mineral resource.
Havilah’s drilling crew recently drilled two infill reverse circulation (RC) holes along strike of the proposed open pit to establish the continuity of the mineralisation.
Once received, the results will be used for future mine planning studies.
Three RC holes were then drilled to target deeper sulphide mineralisation with widespread copper and gold intersected in all holes.
Best results include 25 metres at 1.96 per cent copper and 0.91 grams of gold per tonne (g/t), 57 metres at 1.24 per cent copper and 0.89g/t gold; and 54 metres at 1.2 per cent copper and 0.75g/t gold.
Up to 3.45g/t gold was intersected in the shallower oxidised zone and intersections in this area will be followed up with shallow aircore drilling.
“Infill resource confirmation drilling continues to demonstrate good continuity of sulphide mineralisation at consistently economic copper and gold grades as is characteristic of the Main Kalkaroo orebody,” Technical Director Chris Giles said.
“Our priority objective remains advancing the West Kalkaroo gold open pit towards development during 2022, subject to a final investment decision by the Havilah Board, obtaining financing and final South Australian government approvals.”
Havilah has ended the day 2.44 per cent in the green with shares trading at 21 cents in a $62.78 million market cap.