- Havilah Resources (HAV) has received positive gold assay results from its ongoing drilling program at West Kalkaroo in South Australia
- The aim of this drilling is to define a gold resource in Tertiary age Namba Formation clays and underlying saprolite gold mineralisation
- Air core drilling confirmed widespread tertiary gold mineralisation, including 5 metres at 4.84 g/t gold
- Havilah is pleased these latest results have demonstrated the potential of a start up gold open pit mining operation
- Company shares have soared 21.6 per cent to trade for 12 cents each
Havilah Resources (HAV) has received positive gold assay results from its ongoing shallow gold resource drilling program at West Kalkaroo in South Australia.
The aim of this drilling is to define a gold resource in Tertiary age Namba Formation clays and to better define the underlying saprolite gold mineralisation at West Kalkaroo.
Best results include 5 metres at 4.84 g/t gold from 49-54 metres, 2 metres at 3.23 g/t gold from 53-55 metres, 2 metres at 4.25 g/t gold from 55-57 metres, and 2 metres at 4.79 g/t gold from 54-56 metres.
Significant new gold intercepts in the saprolite gold zone include 31 metres at 2.60 g/t gold from 92-123 metres, 23 metres at 2.17 g/t gold from 60-83 metre, 6 metres at 5.26 g/t gold from 81-87 metres, 15 metres at 3.87 g/t gold from 85-100 metres, and 65 metres at 1.20 g/t gold from 77-142 metres.
While this gold mineralisation isn’t included in the Kalkaroo JORC Mineral Resource, it demonstrates the potential of a gold-only start up open pit mining operation.
“This shallow gold mineralisation is of key importance in generating potential early revenue for the Kalkaroo project from what was previously classified as barren overburden,” Technical Director Dr Chris Giles said.
Company shares have soared 21.6 per cent to trade for 12 cents each just before market close.