PERTH (miningweekly.com) – Junior Havilah Resources has reported a maiden ore reserve of 474 000 t of contained copper and 1.41-million ounces of gold at its Kalkaroo copper/cobalt/gold project, in South Australia.
ASX-listed Havilah noted that the ore reserve estimate did not include cobalt at this stage, with the Kalkaroo project estimated to host some 23 200 t of cobalt resource, making it the largest sulphide cobalt deposit, underpinned by copper, in Australia, on a mineral resource basis.
“The Kalkaroo ore reserve clearly indicates the significant value of this copper/cobalt/gold project. The large ore reserve estimate highlights Kalkaroo as a standout among the very few openpit copper development opportunities presently available in Australia,” said Havilah CEO Walter Richards.
“Kalkaroo is a robust copper/cobalt/gold project with a value multiple many times higher than Havilah’s current market capitalistion.”
Havilah is now working on a revised prefeasibility study for Kalkaroo, incorporating the cobalt resource and pyrite tails into an economic model and improving metal recoveries, specifically for gold.
Meanwhile, mine permitting, including native title negotiations, was also advancing.