Havilah Resources (ASX: HAV) has successfully concluded its drilling program at the Mutooroo copper-cobalt-gold project in South Australia. The program, which was conducted in partnership with JX Advanced Metals Corporation (JXAM), has provided valuable insights into potential resource extensions and has confirmed mineralisation within the existing JORC resource envelope. This marks a significant step forward in Havilah’s strategy to expand and develop the project.
Located approximately 60 km southwest of Broken Hill, the Mutooroo deposit is a high-grade sulphide resource that contains substantial amounts of copper, cobalt, and gold. The current resource includes 195,000 tonnes of copper, 20,200 tonnes of cobalt, and 82,100 ounces of gold.
Drilling Program and Early Results
The drilling campaign comprised 35 drillholes, totaling 7,511 metres. The primary objectives of the program were to collect metallurgical samples and evaluate the northern extension of the Mutooroo deposit. Early results from the campaign indicate a promising resource upside, with mineralised intersections identified beyond the boundaries of the existing measured resource area.
Noteworthy Drill Intercepts and Resource Expansion
The recent drilling results have confirmed the presence of significant copper, cobalt, and gold mineralisation to the north of the established JORC resource boundary. Some of the standout intercepts include:
10 metres at 1.59% copper, 0.14% cobalt, and 0.29 g/t gold from 151 metres (MTRCD283)
8 metres at 1.26% copper, 0.13% cobalt, and 0.26 g/t gold from 174.7 metres (MTRCD284)
7.2 metres at 1.53% copper, 0.14% cobalt, and 0.43 g/t gold from 228.3 metres (MTRCD285)
These high-grade sulphide mineralisation intercepts demonstrate strong potential for expanding the resource beyond previously defined limits.
Moving Toward Feasibility and Mine Development
Havilah and JXAM are advancing metallurgical testing and mining studies to optimise extraction and processing methods. The results of these studies will feed into an updated mineral resource estimate and inform a mining feasibility study. Under the terms of their agreement, JXAM has the option to fund this study.
Additionally, the company plans to conduct downhole electromagnetic surveys to explore potential massive sulphide targets beyond the current drilling coverage. No further drilling is scheduled until all results from the current campaign have been fully evaluated.
With the drilling program now complete, Havilah is well-positioned to continue its work on advancing the Mutooroo project toward the next stages of development.
Related topics:
- India Surpasses China in Gold Purchases, Buying 51% More in Three Months
- Gold Rates Skyrocket in Chennai on Diwali, 24K Gold Exceeds Rs. 81,000 Per 10 Grams
- Bitcoin Poised for a Surge Amid Gold’s Delivery Delays, Expert Claims
