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  • Havilah Resources Hits Near Surface Gold Over 250 Metres Strike At West Kalkaroo 0 comments
    Oct 4, 2013 12:13 AM

    Havilah Resources (ASX:HAV) should trade higher today after intersecting shallow clay-hosted tertiary gold mineralisation over 250 metres of strike at its West Kalkaroo copper-gold project, South Australia.

    Previously discovered clay-hosted tertiary gold mineralisation has been shown to persist in at least six drill lines that are neatly confined to the limits of the stage 1 conceptual open pit.

    Notable results include 10 metres of 4.7 grams per tonne gold from 82 metres; 15 metres of 3.9 grams per tonne gold from 77 metres; 29 metres of 1 gram per tonne gold from 82 metres; and 40 metres at 1% copper from 85 metres.

    Preliminary modelling suggests that the target resource of 5,000 ounces of tertiary clay hosted gold at an average depth of 30 metres has been confirmed by the drilling.

    At the eastern end of the conceptual open pit, tertiary clay-hosted gold mineralisation diminishes, replaced at slightly greater depth by gold mineralisation in the upper saprolite bedrock.

    In most cases where aircore holes were able to penetrate to greater depths in the bedrock, relatively high grades of gold and native copper typical of West Kalkaroo were returned.

    The new drilling data is currently being incorporated into an updated resource and mining model specifically for the stage 1 to 4 open pit mine design.

    The Kalkaroo copper-gold project currently hosts has a measured and indicated resource of 124 million tonnes at 0.5% copper and 0.39 grams per tonne gold in the main copper-gold deposit, and 18.6 million tonnes at 0.74 grams per tonne gold in the gold cap on top of the copper-gold deposit.

    This equates to 622,500 tonnes of contained copper and 2 million ounces of gold.

    Analysis

    While more work remains to be done, the aircore drilling lends further support to the gold-bearing basal Tertiary clays overlying the main deposit at its Kalkaroo copper-gold project being extensive enough to be processed.

    This will provide early cash flow for the company while reducing start-up risk.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX "Small and Mid-cap" stocks with distribution in Australia, UK, North America and Hong Kong / China.

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