Havilah Resources Ltd (ASX:HAV) has received encouraging results of up to 20 metres at 6.3 g/t gold in shallow drilling at West Kalkaroo prospect near the Kalkaroo Copper-Gold Project in northeast South Australia.
The results are from the first round of gold resource drilling at West Kalkaroo which was carried out by Havilahs drilling crew using the aircore (AC) drilling method.
This method is suited to clayey material and soft decomposed rock and the horizontal, clay-hosted base of Tertiary gold mineralisation was confirmed in several aircore drill holes, including 2 metres at 2.9 g/t.
Havilahs technical director Dr Chris Giles said: “It is pleasing that the base of Tertiary gold mineralisation persists at this location. Also, that the saprolite gold mineralisation was intersected where predicted with very good grades and widths.”
Shares were as much as 30% higher to 12 cents intra-day, up from 5.3 cents at close on March 13.
The specific objectives of the program are to define a gold resource in Tertiary age Namba Formation clays and to better define the underlying saprolite gold mineralisation within the confines of a conceptual starter open pit at West Kalkaroo.
Clay-hosted, base of Tertiary assay results include:
- 2 metres at 2.9 g/t from 29-31 metres downhole; and
- 9 metres at 0.61 g/t from 32-41 metres downhole.
Results in waste clay
These results occur in what would normally be considered as waste clay overburden material that must be removed to access the underlying copper-gold ore body.
It is thought that gold in these clays is secondary, having migrated upwards in acidic groundwater from the underlying primary bedrock gold mineralisation before depositing in the more carbonaceous and reduced Namba clay layers near the base of Tertiary age sediments.
Aircore drilling is being undertaken within the confines of the conceptual starter open pit at West Kalkaroo (light blue) and is targeting both the base of Tertiary gold mineralisation (dark blue) and underlying saprolite gold mineralisation (yellow).
All aircore drill holes were continued into the underlying saprolite gold and native copper zones until the rock became too hard for the aircore blade bit to penetrate further.
Results from the saprolite gold and native copper zones include:
- 20 metres at 6.3 g/t from 77-97 metres downhole and 10.5 metres at 1.8 g/t from 104-114.5 metres downhole (in native copper zone);
- 12 metres at 1.1 g/t from 89-10Read More – Source