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Havilah Resources begins drilling at Kalkaroo Copper-Gold-Cobalt Project in South Australia

The program is designed to define a shallow gold resource in Tertiary age clays as well as to better identify saprolite gold mineralisation within the confines of a conceptual starter open pit at West Kalkaroo.

Havilah Resources Ltd - Havilah Resources begins drilling at Kalkaroo Copper-Gold-Cobalt Project in South Australia
Recent drilling at West Kalkaroo

Havilah Resources Ltd (ASX:HAV) has started its 2020 exploration drilling campaign at the Kalkaroo Copper-Gold-Cobalt Project near Broken Hill, South Australia following receipt of approval from the Department of Energy and Mining.

The company’s main objective is to define a shallow gold resource in the Tertiary age clays and to better define the saprolite gold mineralisation within the confines of a conceptual starter open pit at West Kalkaroo.

Additionally, Havilah plans to explore the largely untested, highly prospective Kalkaroo fault zone for shallow gold mineralisation lying outside of the current saprolite gold resource.

The company will also be investigating rare earth elements (REE) mineralisation previously reported from West Kalkaroo.

This includes elevated levels of the more valuable REE, namely neodymium (Nd), praseodymium (Pr), dysprosium (Dy) and terbium (Tb).

Bulk drill samples will be collected for further mineralogical and metallurgical recovery studies to determine whether it is feasible to produce a REE mineral concentrate from the Kalkaroo copper-gold ores.

Gold deposit containing more than 3.1 million ounces

Given Kalkaroo is a large gold deposit, containing over 3.1 million ounces and recognising the current high Australian dollar gold price, directors consider it prudent to focus on gaining as much drilling information as possible about the shallow gold resources at Kalkaroo.

With Havilah’s drilling capability the key drilling information can be obtained efficiently, and Havilah’s in-house geologists and mining engineers are able to model and evaluate the new data quickly.

Depending on the future world economic situation, it may be that obtaining development financing for the shallow open pit gold mining operation is one possible way to initiate development of the Kalkaroo copper-gold-cobalt deposit in the short to medium-term.

The current drilling program will assist in evaluating this option.

Quick facts: Havilah Resources Ltd

Price: 0.185 AUD

ASX:HAV
Market: ASX
Market Cap: $50.12 m
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Havilah Resources' Chris Giles talks plans for gold-only open pit at Kalkaroo

Havilah Resources Ltd's (ASX:HAV) (FRA:FWL) Chris Giles tells Proactive's Andrew Scott they're continuing to enhance the West Kalkaroo gold-only starter pit project in South Australia with drilling returning further positive results outside the existing resource. New reverse circulation (RC)...

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