Summary

Kalkaroo is Havilah’s flagship mineral project and is the largest undeveloped open pit copper deposit in Australia on a CuEq ore reserve basis, with a 0.74% CuEq grade.

It contains  1.1 million tonnes of copper, 3.1 million ounces of gold and 23,200 tonnes of cobalt in Measured, Indicated and Inferred JORC Resources.

From a mining perspective Kalkaroo has extremely favourable geometry as it forms a consistently mineralised 40-80 metre thick dipping slab over a strike length of at least 3 km. The oxidised top 100 metres of the deposit is enriched in both gold (forming a gold cap) and copper which occurs as native copper (copper metal) and chalcocite (a copper rich secondary sulphide mineral).

                                                                                                                 

History

In May 2017 Havilah signed an MOU with Wanbao Mining Limited (Wanbao) for the completion of a pre-feasibility study (PFS) on Kalkaroo at Wanbao’s expense. The PFS work was carried out by mining consultants, RPMGlobal, who independently confirmed Havilah’s earlier JORC resource for Kalkaroo (see above)  and estimated a 100 million tonne Ore Reserve for the deposit as summarised below.

Based on this Ore Reserve the project can potentially sustain a bulk open pit mining operation at an average annual production rate of XX tonnes of copper, XX ounces of gold and XX tonnes of cobalt over a period of at least 14 years.

There are excellent prospects to expand the resource at depth below 200 metres and at each end with additional drilling.  The surrounding exploration potential is also very high with a three out of three hit rate in wild cat drillholes that targeted conceptual targets chosen by Havilah geologists.

 

Future work

Havilah is presently working on additional PFS studies aimed at improving gold metal recoveries and incorporating the potentially considerable value of the cobalt resources and pyrite tails in the economic model.