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HAVILAH RESOURCES LIMITED — Capital/Financing Update 2012
May 6, 2012
65038_rns_2012-05-06_7ea1ebbe-33cd-49f7-bf99-7266a50fbf65.pdf
Capital/Financing Update
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Kalkaroo Copper-Gold Project Drilling Update
Havilah Resources
(ASX:HAV)
The third diamond drillhole in the Kalkaroo program (KKDD406) has intersected the uppermost unit in the Kalkaroo Prospective Sequence (KPS) at 499.6m down hole and vertically about 448m below surface as of 5 pm yesterday. Typical vein and laminated replacement style chalcopyrite (copper sulphide) mineralisation, has been observed in the drill core (see core photos below).
Havilah Resources NL aims to become a significant new producer of iron ore, copper, gold, cobalt and molybdenum from its 100% owned mineral discoveries: Kalkaroo: 124.5 Mt 0.50% Cu
0.39g/t Au Meas+Indic resource plus 18.7 Mt 0.74 g/t Au Meas res Mutooroo: 13.1Mt 1.48%Cu,
0.14%Co Meas+Indic+Inferred res North Portia: 11.3Mt 0.89%Cu, 0.64g/tAu, 500ppmMo Ind+Inf res Portia: 720,000t 2.9g/t Au Inferred resource Maldorky: 147Mt 30.1% Fe (18% Fe cutoff) Indicated resource Excellent potential to expand known resources in all cases. MMG Exploration spending $12m over 5 years exploring for IOCG and sedimentary hosted Pb-Zn
While the presence of copper sulphides is a good sign, the significance of this initial mineralisation will not be known until the hole has continued a further 80-120 m through the entire KPS. KKDD406 is Havilah’s deepest hole so far and is located roughly 800m down dip from the Kalkaroo orebody in the central portion of the saddle that lies between the Kalkaroo north and south domes.
The drilling continues to show that the stratigraphic sequence here is remarkably uniform. Therefore it is possible to interpret the new drilling intersections with reference to the known layering sequence in the Kalkaroo orebody. The observed bedding dips of the sediments are slightly to the southeast as predicted.
deposits on Havilah’s tenements
Issued Capital
101.3 million ordinary shares 20.1 million listed options 10.4 million unlisted options
Contact
No major fault zone was intersected in the hole above the current level apart from several narrow sulphide
Dr Bob Johnson – Chairman + 61 (0)8 83389292
7 May 2012 Page 1 of 4
bearing breccia veins with associated alteration haloes. Occasional minor blebs and veinlets of chalcopyrite and pyrrhotite are present through this hole, suggestive of a relatively high temperature active mineralizing process.
To the northwest along this section the prospective sequence is expected to rise gently to its subcrop location some 1,600 m away on the southern end of the Kalkaroo north dome, as shown on the updated interpretive model below. Several shallow RC holes are planned to test this area over the next few days.
Following completion of KKDD406, the next planned deep diamond drillhole is KKDD405, which will test the Kalkaroo Prospective Sequence a further 500m towards the northwest.
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Cross section showing drilling progress in KKDD406. The drillhole has passed into the copper-gold bearing Kalkaroo Prospective Sequence which hosts the Kalkaroo orebody (located at the concentration of drillholes on the far right side)
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KKDD 406 : Vein and replacement mineralisation at the top of the Kalkaroo Prospective Sequence
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KKDD0406: Typical Kalkaroo bedding replacement sulphide mineralisation at the top of the Kalkaroo Prospective Sequence, showing bands of chalcopyrite and pyrrhotite
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KKDD0406 : Vein and replacement style sulphide mineralisation at the top of the Kalkaroo Prospective Sequence
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For further information visit the Company website www.havilah-resources.com.au or contact : Dr Bob Johnson, Chairman, on (08) 83389292 or email : [email protected]
Competent Persons Statement
The information in this report has been prepared by geologists Dr Bob Johnson, who is a member of the Australasian Institute of Mining and Metallurgy, and Dr Chris Giles who is a member of The Australian Institute of Geoscientists. Drs Johnson and Giles are employed by the Company on consulting contracts. They have sufficient experience which is relevant to the style of mineralization and type of deposit under consideration to qualify as Competent Persons as defined in the JORC Code 2004. Drs Johnson and Giles consent to the release of the information compiled in this report in the form and context in which it appears.
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