PERTH (miningweekly.com) – Gold junior Havilah Resources has signed a memorandum of understanding (MoU) with Beijing-based Wanbao Mining to complete a prefeasibility study (PFS) on the Kalkaroo copper/gold project, in South Australia.
The PFS, which will be undertaken by an independent mining consultancy, is expected to provide Wanbao with sufficient information to make a decision on further participation in the Kalkaroo project.
The study is expected to take six months to complete, Havilah told shareholders on Monday.
“We are delighted to have formed a cooperative relationship with Wanbao Mining, which is a well respected and successful Beijing-based offshore copper and cobalt producer,” said Havilah MD Chris Giles.
“The PFS will primarily address the development implications of the recently upgraded resource for Kalkaroo and will increase the confidence in the final processing circuit and associated capital and operating costs for an expanded operation.”
The Kalkaroo project is considered to be one of the largest undeveloped copper/gold projects in Australia and is estimated to host a resource of some 232-million tonnes of ore, containing over 1.1-million tonnes of copper and 3.3-million ounces of gold.