Havilah Resources Ltd (ASX:HAV) says results from a recent drilling program suggest its current resource at the Mutooroo copper-cobalt gold project in South Australia could be expanded with mineralisation at shallow depths.
To date, 26 reverse circulation (RC) and RC precollar drillholes have been completed for a total of 3,859 metres.
From this, Havilah has intercepted 21 metres of 1.60% copper, 0.18% cobalt and 0.31 grams per tonne (g/t) gold intersected in one hole, which was located around 200 metres outside the current envelope for Mutooroo’s measured resource.
Additionally, the program has achieved the extension of 13 precollar drillholes through the deeper sulphide mineralisation by a contractor diamond drilling rig, while two diamond drillholes have been completed from surface, for a total of approximately 1,274 metres of drillcore to date.
Grades evident in the intercepts echo those seen in the average (JORC) sulphide resource: the latter being 1.53% copper, 0.16% cobalt, and 0.20 g/t gold over a true width of approximately 21 metres.
Havilah’s technical director Dr Chris Giles said the drilling work would serve several ends.
“Drilling at Mutooroo in cooperation with JXAM has achieved its initial aim of generating representative metallurgical drillcore samples,” he said.
“Our drilling is now focused on upgrading existing mineral resource categories and expanding it in previously undrilled areas to the north, both of which are generating positive results as reported here.
“We have long anticipated possible extensions of the Mutooroo orebody and these recent drilling results highlight the substantial resource upside potential.”
Havilah has been trading at 19 cents – a fall of 2.56% since the market opened.
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