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HAVILAH RESOURCES LIMITED — Capital/Financing Update 2016
Mar 30, 2016
65038_rns_2016-03-30_0ffc86cc-bf57-4b25-9582-f846d8bfaf6a.pdf
Capital/Financing Update
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Havilah Resources Limited plans to sequentially develop its portfolio of gold, copper, iron, cobalt, tin and other mineral resources in South Australia. Our vision is to become a new mining force, delivering value to our shareholders, partners and the community.
168 million Ordinary Shares -- 36 million Listed Options -- 9 million Unlisted Options
ASX and Media Release: 31 March 2016
ASX Code: HAV
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----- Start of picture text ----- Mined out north pod (foreground) and overburden removal in progress in background----- End of picture text -----
PORTIA GOLD ORE SUCCESSFULLY MINED
HIGHLIGHTS
First phase of gold ore mining from the Portia interim sub-pit successfully completed
Havilah Resources Limited (“Havilah” or “Company”) is pleased to report that mining of the north pod high grade gold ore layer has been completed at the Portia gold mine, northeast of Broken Hill. This ore was mined from an interim sub-pit some three and a half months earlier than originally scheduled, due to a redesign of the mining plan.
Mining proceeded according to plan and the geologists could readily visually identify the high grade gold ore layer. This allowed for very selective mining with limited dilution. The lower grade material above and below the main ore zone have also been stockpiled on the ore pad for processing at a later stage. Roughly ten thousand tonnes of high grade ore and considerably more lower grade ore was mined and stockpiled on the ore pad adjacent to the processing plant (see aerial photograph below). Construction of the processing plant is progressing as planned with the continuing expectation of start-up and commissioning by the middle of April.
One of the major positive factors established by the mining was the modest water inflows from the bedrock once exposed by mining. This is largely due to the extensive dewatering pumping from boreholes near the crest of the open pit over the last year. The water inflows encountered are readily handled by pumping from a collection sump cut below the existing open pit floor.
HAVILAH RESOURCES LIMITED
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ABN 39 077 435 520 MAIL: 31 Flemington Street, Glenside, SA 5065 Australia EMAIL: [email protected]
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Commenting on progress Havilah’s Managing Director, Dr Chris Giles, said:
“As the result of mining this interim sub-pit some three and a half months ahead of schedule, we now have a stockpile of gold ore available and ready for processing as soon as the processing plant is commissioned over the next few weeks.
“We have also proven it is possible to successfully and safely mine through the overburden and deal with the groundwater to allow us to selectively dig out the high grade ore layer some 75 metres below surface, which is no mean feat.
“In the meantime, Consolidated Mining & Civil are rapidly removing the overburden on the western side of the open pit, which will expose the ore layer in the remainder of the open pit within the next two months” he said.
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Interim northern sub-pit from which the high grade ore horizon has been mined. The weathered bedrock exposed in the pit floor will be sampled for high grade gold in fractures in due course. The moderate amounts of water flowing into the sump are being pumped to the surface with a powerful dewatering pump. Photo courtesy of Traviss Just.
HAVILAH RESOURCES LIMITED
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Aerial view of the Portia mine site showing the high, medium and low grade ore material mined from the northern sub-pit stacked on the ore pad, ready for processing. Construction of the adjacent processing plant is well advanced. Photo courtesy of Andrew Woidt.
For further information visit www.havilah-resources.com.au Contact: Dr Chris Giles, Managing Director, on (08) 8338-9292 or email: [email protected]
HAVILAH RESOURCES LIMITED
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