The Asia Miner

JAN-FEB 2018

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Page 68 of 83

Volume 15 • Issue 1 | 2018 | ASIA Miner | 67 Australia Copper Regional exploration Exploration is in Havilah's corporate DNA judging by the number of minerals deposits discovered. Chris Giles says, "Every ounce of gold and every tonne of copper and other metals we have found and delineated our- selves with our own drill rig and crew. The region is highly prospective, with our very own equivalent of the Central African cop- per belt contained within our tenement hold- ing, and we reckon on finding a lot more copper." Drilling this year confirmed an exciting new copper-tungsten discovery at Cro- ziers. There were 17 RC holes drilled for 1462 metres over the copper-bearing magnetite skarn with best results of 5 me- tres at 0.9% copper from 69 metres, 20 metres at 0.54% copper from 75 metres and 15 metres at 0.45% copper from 83 metres. Economic grades of associat- ed tungsten mineralisation were also re- vealed. "We have found shallow dipping copper mineralisation over a down-dip extent of po- tentially more than 400 metres, confirming our original exploration thesis. The copper horizon is sufficiently thick to be of econom- ic interest for an open pit mine in the up- per parts and the tungsten mineralisation is potentially significant when combined with the copper. Given the 50 metre-wide spac- ing of holes and lack of previous RC drilling there is plenty of room for a sizeable cop- per-tungsten deposit, which we will follow up with further drilling. "Croziers is about 10km north of Kalkaroo and within short trucking distance, which enhances its development prospects even for a modest deposit, given the shallow cover in this area." There are excellent IOCG targets in the region. At the Bassanio IOCG prospect a single 325 metre diamond hole intersected highly brecciated ironstones, which given the 1.5km long by 820 metre target zone, definitely warrants follow up drilling. A more intriguing IOCG target was identi- fied by recent University of Adelaide mag- netotelluric (MT) surveys 30km north of the Portia mine. The MT method is able to dis- tinguish zones of varying electrical conduc- tivity in the earth's crust to depth of more than 20km. A prominent vertical low resistiv- ity feature rising to the surface, comparable with that observed beneath the giant Olym- pic Dam ore body, was identified by the MT survey. Chris Giles said, "The Jupiter MT anomaly, as we have called it, is an amazing geophysical feature and warrants further ex- ploration work to see if indeed it is pointing us towards a major mineralised system as for Olympic Dam. On the road to success Although Havilah's share price has suffered recently, Chris Giles says Havilah remains in a very good place with its large copper, gold and cobalt JORC resources situated in a mining supportive jurisdiction. "Funda- mentally nothing has changed except the company has moved closer to achieving its expanded mining objectives as the copper outlook only continues to improve. "We cannot change the share price, but we can certainly strive to deliver on our Copper Growth Strategy and so establish Havilah credentials as an emerging cop- per-cobalt producer." Havilah's association with CMC has given the company more confidence that it can get its other projects going, especially low- er capital projects like Mutooroo. It looks increasingly likely that Havilah's hard-won exploration achievements will mature into profitable copper-gold-cobalt mining opera- tions at a time when there is unprecedented demand for these commodities. The distinguishing features of Havilah Resources, which has a suite of projects around the border of South Australia and New South Wales. The value steps for Havilah as it progresses its projects.

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