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Havilah Resources reveals wide gold-copper intervals in fault intersection at West Kalkaroo

The results confirm the mineralisation potential of the fault intersection zone, with appreciable scope to potentially increase the resource tonnage in this area.

Havilah Resources Ltd - Havilah Resources Limited's RC drilling finds wide zone of gold-copper mineralisation in fault intersection at West Kalkaroo
Kalkaroo is the largest undeveloped open pit copper deposit in Australia on a copper equivalent ore reserve basis, with a 0.74% CuEq grade

Havilah Resources Ltd’s (ASX:HAV) (FRA:FWL) reverse circulation drilling has demonstrated a wide zone of gold-copper mineralisation in the fault intersection area at West Kalkaroo project, to the east of the planned stage 3 starter open pit in South Australia.

Long intervals of gold and/or gold-copper mineralisation were returned in all drill holes in the upper, oxidised saprolite gold-native copper zone as well as in the underlying sulphide zone.

Best results were 35 metres at 1.20 g/t gold from 87 metres in the oxide zone and 34 metres at 1.10% copper and 0.56 g/t gold from 152 metres in the sulphide zone.

The shallower base of Tertiary gold zone also continued to yield good results, including 8 metres at 2.28 g/t gold from 65 metres and 11 metres at 1.53 g/t from 63 metres that are mostly outside the current West Kalkaroo resource.

These results confirm the mineralisation potential of the fault intersection zone, with appreciable scope to potentially increase the resource tonnage in this area.

“Materially increase resource tonnage”

Havilah technical director Dr Chris Giles said: “These RC drilling results, combined with earlier drilling results, have demonstrated a wide zone of gold-copper mineralisation in the fault intersection area as predicted.

“There is substantial scope to materially increase resource tonnages in this part of the Kalkaroo deposit if future drilling shows this mineralisation extends eastwards and to depth.

“We plan to drill a few more RC holes here to verify the concept before moving on to other drill target priorities.”

Results

Cross-section showing significant mineralised intervals in recent West Kalkaroo RC drillholes.

Best intercepts returned from the current round of drilling include:

➢KKAC0578: 46.5 metres of 1.15 g/t gold from 77 metres (this is an earlier aircore drill hole that lies within the Stage 3 starter open pit);

➢KKRC0579: 3 metres of 0.71 g/t from 60 metres (base of Tertiary gold mineralisation); 31 metres of 1.01 g/t gold from 79 metres (saprolite gold mineralisation); and 8 metres of 1.13 g/t gold and 2.31% copper from 148 metres, within 22 metres of 0.59 g/t gold and 1.27% copper from 134 metres (ended in copper-gold sulphide mineralisation).

➢KKAC0581: 16 metres of 0.98 g/t gold from 92 metres (mostly saprolite gold mineralisation in fault zone); and 68 metres of 0.40 g/t gold and 0.20% copper from 92 metres (native copper & sulphide zone);

➢KKRC0582: 8 metres of 2.28 g/t gold from 65 metres (base of Tertiary gold mineralisation); 35 metres of 1.20 g/t gold from 87 metres (saprolite gold and native copper zone); and 32 metres of 0.27 g/t gold and 0.40% copper from 146 metres (sulphide mineralisation); and

➢KKRC0583: 11 metres of 1.53 g/t gold from 63 metres (base of Tertiary gold mineralisation); 17 metres of 1.22 g/t gold from 93 metres (saprolite gold & native copper zone); and 34 metres of 0.56 g/t gold & 1.10% copper from 152 metres (sulphide mineralisation within fault zone).

Gold-only startup open pit

Havilah’s 100%-owned Kalkaroo copper-gold-cobalt deposit contains JORC mineral resources of 1.1 million tonnes of copper, 3.1 million ounces of gold and 23,200 tonnes of cobalt and an open pit JORC ore reserve of 100.1 million tonnes.

Kalkaroo is the largest undeveloped open-pit copper deposit in Australia on a copper equivalent (CuEq) ore reserve basis, with a 0.74% CuEq grade.

Given the increased gold price, Havilah is evaluating the feasibility of developing the gold-only startup open pit at West Kalkaroo, that would initially target shallower oxidised gold resources.

Havilah’s technical personnel are focused on advancing the final Kalkaroo environmental approvals along with obtaining capital expenditure and operating expenditure estimates for the gold-only startup open pit.

Quick facts: Havilah Resources Ltd

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