Havilah Resources NL (ASX:HAV) Planned Activities For First Quarter Of 2010
Adelaide, Feb 10, 2010 AEST (ABN Newswire) - Against a background of continuing buoyancy in commodity prices, Havilah Resources NL (
ASX:HAV) plans an active year balanced between moving its advanced projects towards production and exploring its portfolio of promising prospects.
Havilah's primary objective is to realize the value and exploit the potential of the three mineral deposits it has discovered, namely Kalkaroo, Mutooroo and Portia. All projects are potentially attractive propositions at current metal prices. Planned activities in the first quarter of 2009 are summarized below.
Further information for the Kalkaroo feasibility study is presently being compiled incorporating initial comments by partner, Glencore International, on a draft version produced just prior to Christmas.
Results of the feasibility study will be released upon finalisation and subject to approval by Glencore.
At Portia, a Mining Lease has been offered by PIRSA. Before this can be granted a Mining and Rehabilitation Plan (MARP) must be prepared by Havilah and accepted by PIRSA.
This document requires details of mine design and mining methods and engineering design for the gold processing circuit. Havilah is currently evaluating various exploitation alternatives in order to minimize project risk by reducing start up capital costs, specifically concerning removal of overburden. It is planned to complete this work during the first quarter so that the MARP document can then be completed for approval by PIRSA.
At North Portia, resource calculations in progress will determine the size and grade of the oxidized copper-gold resource. If viable to mine, this resource could be treated with Kalkaroo ore in the same processing plant, owing to similar nature of the mineralization.
A processing flow sheet and first pass costs for a 500,000 tonne per annum roaster and sulphuric acid plant to treat Mutooroo ore has been prepared by an experienced metallurgical consultant. Havilah is now preparing a detailed resource and financial model for Mutooroo in order to determine the best development scenarios. The alternative of producing a copper concentrate via a conventional milling and flotation circuit and stockpiling the sulphide rich tailings for later processing will also be investigated. In the meantime, Havilah will continue to seek a funding partner to assist with development of the project.
The Lilydale iron ore project south of Yunta will be drilled in February, once the drill rig returns to site after completion of routine maintenance. Locations for at least ten drillholes have been selected at the peak of the coincident gravity / magnetic anomaly.
About Havilah Resources Ltd
Havilah Resources Ltd (ASX:HAV) is a debt free South Australian gold producer having recently financed and developed its first gold mine at Portia in north-eastern South Australia. It plans to follow on with three copper-gold-cobalt mining developments at North Portia, Kalkaroo and Mutooroo, which are underpinned by a JORC resources mineral inventory of over 1.4 million tonnes of copper, 3.6 million ounces of gold, and 18,000 tonnes of cobalt.
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