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Havilah Resources teams up to evaluate iron ore projects

The iron ore projects are favourably located in relation to existing operations at Whyalla.

mining trucks
Both projects have JORC hematite-magnetite ore deposits

Havilah Resources Ltd (ASX:HAV) has reached an agreement with SIMEC Mining to conduct due diligence on the 100% owned Maldorky and Grants iron ore project in South Australia.

The joint objective is to determine the future development and commercialisation potential of the projects.

SIMEC Mining is an affiliate of the GFG Alliance and also owns and operates iron ore mines in the in South Australia.

SIMEC Mining can potentially realise value in the assets

Havilah’s CEO Walter Richards said: “SIMEC Mining has the technical expertise, and most importantly, the logistical capability at Whyalla to handle iron ore shipments from the Maldorky and Grants projects.

“Our co-operation has started well, with SIMEC Mining now in possession of all Havilah’s technical data relating to the projects, as well as representative drill chip samples and drill core that is being used for the metallurgical test work, which is now in progress.

“This co-operation has the potential to realise value from the iron ore component of Havilah’s multi-commodity portfolio without distracting from our primary focus on the copper growth strategy - enhanced by cobalt.

“SIMEC Mining’s solid track record, demonstrated capability, and extensive resources available to execute this study make them an ideal partner on these projects.”

Both projects have JORC-compliant resource estimates for their iron ore deposits.

READ: Havilah Resources’ shares ride higher after establishing large copper-gold reserve

Earlier this week, Havilah revealed a maiden ore reserve of 474,000 tonnes of contained copper and 1.41 million ounces of gold for its Kalkaroo copper-cobalt-gold project in South Australia.

The ore reserve was independently estimated by mining consultants, RPMGlobal Asia Ltd, as part of the Kalkaroo preliminary pre-feasibility study (PFS) report.

Importantly, the maiden ore reserve establishes the Kalkaroo project as the largest undeveloped open pit copper-gold deposit in Australia on a copper-equivalent ore reserve basis.

Quick facts: Havilah Resources Ltd

Price: 0.11 AUD

ASX:HAV
Market: ASX
Market Cap: $28.05 m
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