Havilah Resources NL (ASX:HAV) Recent Drilling Indicates New Iron Ore Discovery at The Maldorky Iron Ore Project
Perth, Aug 12, 2010 AEST (ABN Newswire) - Havilah Resources NL (
ASX:HAV) recent drilling of a high intensity aeromagnetic anomaly at its 100% owned Maldorky iron ore project indicates a significant new iron ore discovery. A line of drillholes have defined over 50m thickness of shallow south dipping iron rich siltstones, with generally better than average iron grades for the Braemar Iron Formation. The drill cuttings are exceptionally magnetite rich, and Davis Tube test work is underway to determine the quality of the upgraded magnetite concentrate from drill samlples.
Although the deposit does not outcrop, it has minimal overburden and limited surface oxidation.
These attributes, combined with the shallow dip are very favourable for a low cost open pit mining operation.
The Maldorky iron ore project lies 30km south of the Transcontinental Railway, some 300km east of Port Pirie. This is Havilah's second iron ore discovery in the region this year. At its 100% owned Lilydale iron ore project, 70 km to the southwest, Havilah has previously announced a potentially substantial deposit of similar grade iron ore that can be beneficiated into a high iron, low impurity magnetite product.
Both the Lilydale and Maldorky iron ore discoveries form part of an emerging potentially important new iron ore province that has appreciable resource development potential for premium magnetite ore, located in proximity to rail and port facilities.
Havilah's immediate intention is to secure financing from a foreign joint venture partner involved in the steel industry in order to complete feasibility studies and to develop the project.
For the complete Havilah Resources announcement, please refer to the following link below:
http://www.abnnewswire.net/media/en/docs/63506-ASX-HAV-179108.pdf
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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