Havilah Resources Limited plans to sequentially develop its portfolio of gold, copper, iron, cobalt, tin and other mineral resources in South AustraliaAdelaide, Jan 23, 2017 AEST (ABN Newswire) - Havilah Resources Limited (ASX:HAV) reports that it has received approval for mining the southern and northern extensions at Portia. This will allow the 120 metre southern cutback to immediately proceed in accordance with the MOU signed with our mining partner, Consolidated Mining and Civil Pty Ltd ("CMC"), and extend the Portia mine life by at least another twelve months.
- Approvals received for mining southern and northern extensions at Portia.
- Channel sampling of southern extension mineralisation in pit wall returns 56 m @ 7.1 g/t Au.
- Saprolite gold ore is being mined from the current pit floor to maintain continuous processing.
- Processing plant is being optimised to increase ore throughput.
Channel sampling of the south pit wall returned a wide zone of comparatively high grade gold mineralisation, namely 56 m @ 7.1 g/t, confirming nearby high grade drilling results.
Saprolite ore material will continue to be mined from the pit floor as required to maintain ore stockpiles on the ROM pad and so maintain gold production until such times as additional new ore is accessible from the southern cutback.
Recent focus has been on increasing ore throughput and gold production with the acquisition of a second trommel, which is now being rebuilt and customised to suit the Portia saprolite material in CMC's Broken Hill engineering workshop. This trommel is scheduled to be commissioned in mid-February and should allow the throughput target of 100 tonnes per hour to be met.
Havilah Managing Director, Dr Chris Giles, commented:
"Our first opportunity to channel sample the open pit south wall has returned some promising high gold grades over a considerable width, which confirms nearby high grade drilling results.
"Our mining and processing experience to date, plus our drilling results from the southern extension, gives us no cause to doubt that these gold grades will ultimately be reflected in our gold recoveries.
"The good news is that we have sufficient saprolite gold ore ahead of us to mine and our processing plant is not likely to run short of ore in the foreseeable future.
"Our focus now is how to ramp up gold production and we are addressing this with the new trommel and various other improvements to the processing plant with CMC's assistance.
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About Havilah Resources Ltd
Havilah Resources Ltd (ASX:HAV) has successfully financed and developed its first gold mine at Portia in north-eastern South Australia, which is a high margin operation producing a steady cash flow. It plans to follow on with two copper-gold developments that can potentially support an initial production of at least 34,000 tonnes of copper and 105,000 ounces of gold annually. This is underpinned by a JORC minerals resource inventory of over 900,000 tonnes of copper and 2.4 million ounces of gold.
Havilah Resources Ltd