Havilah Resources Ltd (ASX:HAV) has reassayed drill core from five holes at its Mutooroo project near Broken Hill to discover cobalt and gold mineralisation.
The drill core was from the 1960s and confirms that the current JORC copper sulphide resource at Mutooroo also contains cobalt and gold.
Resampling of the five historical deep holes returned high grade cobalt up to 0.32% cobalt and up to 3.8% copper and 1.7 g/t gold.
READ: Havilah Resources aims to put cobalt icing on its large South Australian copper cake
Originally, these holes were only assayed for copper but new assays include:
• 17.1 metres at 1.66% copper, 0.16% cobalt and 0.18 g/t gold from 162.0 metres;
• 9.4 metres at 1.72% copper, 0.19% cobalt and 0.63 g/t gold from 469.4 metres; and
• 6.9 metres at 1.32% copper, 0.13% cobalt and 0.07 g/t gold from 637.7 metres.
New assay data to be used to update resource
It is planned to use this new assay data to update part of the Inferred Resource covered by these holes to include copper, cobalt and gold estimations.
This work is part of the Mutooroo pre-feasibility study that is expected to be completed before the end of 2018.
Havilah’s immediate objective at Mutooroo is to complete the PFS required permitting for an open pit mining operation to 130 metres depth, and exploration to extend the deposit and test regional targets.
Expecting a significant boost to the resource estimate
Havilah’s CEO Walter Richards said: “These resampling results conclusively confirm that the earlier deeper sulphide intersections comprising the current Inferred copper resource also contain appreciable cobalt and gold.
“The mineralogy and grades of mineralisation are typical of the upper parts of the Mutooroo Measured and Indicated sulphide resource defined by Havilah’s drilling.
“We expect that incorporation of these results should give a significant boost to the total JORC cobalt resources contained in the forthcoming upgraded resource estimate for the Mutooroo deposit.”