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Havilah Resources Ltd.
Summary
| Project: | Portia | |
|---|---|---|
| Deposit: | Portia | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 11/4/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 4-11-2016: Havilah Resources Ltd. announces an Exploration/Drilling Update report for its Portia deposit at the Portia project. Drilling results incl. 23m @ 6.8g/t Au from pit floor. Havilah Resources Limited (“Havilah” or “Company”) is pleased to report | |
| Resources: | (Resource, Inf.): 720000t @ 2.9g/t Au for 67000oz Au contained at Portia (excluding Portia North) | |
| CP/QP: | [Overall Report]: Dr. Chris Giles (Internal) | |
| ABSTRACT: | Havilah Resources Limited (“Havilah” or “Company”) is pleased to report that bedrock assay results for drilling carried out on the open pit floor, more than two months ago, shows gold mineralisation extends more than 20 metres into the bedrock below the current open pit floor. The best reportable result so far is from aircore drillhole PTAC244: 23 metres of 6.8 g/t Au from the pit floor to 24 metres vertically below (to approximately -35 metre RL). As is typical of Portia, this gold mineralisation is patchy with localised high grades, and it is necessary to wash the entire weight of each one metre drill sample in order to obtain a representative gold assay result that can be relied upon. Other nearby holes drilled in the same program contain potentially economic gold mineralisation based on conventional gold assays but are considered to be too unreliable to report, as explained in the cautionary note below. Additional drilling on the pit floor is planned once the pit floor is available and it is safe to do so. At the present time, a portion of this gold mineralised material has been mined and delivered to the ore stockpile at the processing plant. It is anticipated that the bulk of the remainder of this mineralised material, comprising extensively altered and veined soft clayey saprolite (or weathered bedrock), will be mined over the coming weeks. Havilah’s mining partner Consolidated Mining and Civil Pty Ltd (CMC) reports that it is now approaching the final stages of exposing the open pit floor in accordance with the original mine design. Accordingly, within the next month, the remainder of the original target in pit resource of 355,000 tonnes of ore material will be delivered to the surface. This will be largely within the original 18 month time frame estimated by CMC, despite several abnormal rain delays and the geotechnically driven pitwall re-profiling. Processing of the stockpiled ore will continue for several months. | |
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