Proactive Investors - Run By Investors For Investors

Havilah Resources partners reveal wide copper intersection at Punt Hill

A wide 244-metre interval of anomalous copper mineralisation averaging 0.26% copper was detected.
Untested magnetic targets will now be prioritised

Havilah Resources Ltd’s (ASX:HAV) earn-in partners OZ Minerals Limited (ASX:OZL) and Red Metal Limited (ASX:RDM) maiden drill program at Punt Hill has returned anomalous copper mineralisation from the first hole into the PH1 target.

The PH1 target straddles the boundary of Exploration Licences 6014 and 6035 in South Australia.

The first drill hole lies just inside EL 6035 within metres of the boundary of EL 6014, which is held by Havilah (14.13%) and Red Metal (85.87%).

OZ Minerals entered into an agreement in 2017 to earn up to a 70% interest in Punt Hill, which is 42 kilometres south of OZ’s large Carrapateena copper and gold development.

Drill hole DD18PTH001 was directed towards the high-gravity portion of the anomaly and intersected meta-sediment rocks.

Notably, a wide 244-metre interval of anomalous copper mineralisation averaging 0.26% copper was detected throughout the meta-sedimentary rocks with one of the better zones returning:

• 35.0 metres at 0.6% copper from 841 metres, including 10.8 metres at 1.0% copper from 841 metres.

It is speculated that the magnetite and chlorite alteration together with the wide intervals of anomalous copper in DD18PTH001 may indicate a near-miss hole.

Further evaluation using deep penetrating electrical geophysics

Recent 3D modelling of the magnetic data highlights stronger magnetic material, possibly associated with better copper mineralisation, located a little further north of the DD18PTH001 drill trace that remains to be drill tested.

The common association of magnetic minerals such as magnetite and weakly magnetic hematite with the copper mineralisation at PH1 has important implications for future targeting in the joint venture area.

The use of deep penetrating electrical geophysical methods to prioritise the untested magnetic targets within the Punt Hill joint venture areas are being evaluated.

View full HAV profile View Profile

Havilah Resources Ltd Timeline

Related Articles

March 29 2019
The cash flow provides ballast against dilution, allowing the company carefully to consider each new opportunity on its merits
A flow sheet aims to recover more than 90% of battery materials at a pilot plant
February 20 2019
A battery-recycling pilot plant at Lakefield in Canada advances its lithium efforts.
Supersaturated brine flows from the Long Canyon No 2 well to the cuttings pit
April 16 2019
The company has a $1.65 million commitment from a strategic investor and is rattling the tin for a further $1.35 million.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use