Havilah controls more than 16,000 km² of mineral tenements in the Curnamona Province in northeastern South Australia. This highly mineralised region is host to the largest lead-zinc deposit in the world at Broken Hill. Havilah’s cost-effective exploration over the last two decades has been very successful in delineating a JORC Mineral Resource metal inventory of 1.3 million tonnes of copper, 3.2 million ounces of gold, 43,400 tonnes of cobalt and 451 million tonnes of iron ore, plus appreciable molybdenum, sulphur, tin, uranium and the potential for rare earth elements.
The Curnamona Copperbelt is a world-class copper-gold-cobalt province, with widespread sulphide mineralisation typically occurring in a 100-150 metre thick carbonate-rich horizon at a major redox boundary. The geological setting is similar to the Zambian Copperbelt, with the following striking geological analogies:
Regionally extensive copper mineralised 'prospective horizon' at a major redox boundary;
Metasediments folded into a series of granite-cored domes;
Ore grades where structural disruption and preparation ('broken rocks'); and
Persistent cobalt association, but gold is an added bonus in South Australia.
Aeromagnetics clearly identifies the redox boundary and the position of the prospective mineralised horizon. The picture above shows the prospective horizon extending for over 200 km around several major structural domes.
Over $80 million (in current dollars) spent by major company tenement holders in the past has led to the discovery of numerous promising prospects, many with ore-grade intersections that have never been adequately followed up (see map above). Extensive younger sediment cover has masked the mineralisation, but geophysics, detailed knowledge of the regional geology and in-house drilling capability has turned this into an advantage for Havilah, resulting in the discovery of several sizeable mineral deposits (eg Kalkaroo and North Portia). In all cases, the probability for discovery of repetitions of Kalkaroo style copper-gold-cobalt-molybdenum mineralisation is high both in the Kalkaroo north and south domes and in other domes (eg Lake Charles, Eurinilla, Benagerie domes). Other known styles of copper-gold mineralisation include skarn hosted (eg Croziers) and IOCG type (eg Lake Charles).
In addition, widespread lead-zinc mineralisation is found in a particular horizon just above the redox boundary that is recognised throughout the region as the Broken Hill host equivalent (eg at Deep Well, Jessica and McBrides Dam prospects).
South of the main highway is the Mutooroo Project Area where copper-cobalt sulphide mineralisation occurs in well defined shear and lode structures in high grade metamorphic rocks similar to those hosting the giant Broken Hill deposit (eg Mutooroo). Within this district there are numerous prospects, some with ore-grade copper intersections dating from the 1960’s that have never been assayed for cobalt or gold, which are frequently associated with the copper mineralisation. Recent surface geochemical sampling has highlighted widespread, exceptionally high copper and cobalt values, confirming a major new copper-cobalt sulphide mineralised district.
Also south of the transcontinental railway are large iron ore deposits at Maldorky, Grants and Grants Basin. All projects are in close proximity in relation to heavy duty rail links to the Spencer Gulf ports of Whyalla, Port Augusta and Port Pirie (and also Port Waratah and Port Kembla to the east).
Exploration Strategy and Funding
The Group aims to drive exploration value through the detailed evaluation of its tenements to identify quality exploration prospects and targets. It is strategically important for the Company’s longer-term sustainability to maintain a focus on ensuring a future pipeline of prospective opportunities that can add to existing resources. The Board's reponsibility is to ensure that allocation of exploration expenditure is commensurate with the perceived potential of the exploration targets and hence maintain a prudent balance between risk and reward.
The Strategic Alliance with OZ Minerals provides up to $18 million of funding for Havilah over the next 18 months (commenced 1 September 2022, unless extended or earlier suspended) to be divided equally between:
1. Exploration for predominantly copper deposits in the Strategic Alliance Area of Interest tenements, that includes most of the Havilah exploration licences lying in the Curnamona Copper Belt and the Northern Tenements (see map above, excluding EL 5873). A $4 million initial exploration drilling program commenced during November 2022 on a number of promising prospects within EL6659 that surrounds Kalkaroo with the objective of discovering new copper resources that are additive to the existing Kalkaroo resource.
2. Havilah's other activities, including exploration of the Mutooroo Project Area and the iron ore projects south of the main highway that do not form part of the Strategic Alliance Area of Interest tenements. This will be carried out by Havilah’s own drilling crew using its own percussion drilling rig that has proven itself to be effective in past drilling campaigns in the Curnamona Province. These funds may also be used to support Havilah's corporate costs.
Summary of governance arrangements and internal controls in place for the reporting of Ore Reserves and Mineral Resources
Ore Reserves and Mineral Resources are estimated by suitably qualified employees and consultants in accordance with the JORC Code, using industry standard techniques and internal guidelines for the estimation and reporting of Ore Reserves and Mineral Resources. These estimates and the supporting documentation were reviewed by suitably qualified Competent Persons prior to inclusion here.
Competent Person’s Statement
The information in this website that relates to Exploration Targets, Exploration Results, Mineral Resources and Ore Reserves is based on data compiled by geologist, Dr Chris Giles, a Competent Person who is a member of The Australian Institute of Geoscientists. Dr Giles is a Director of the Company, a full-time employee and is a substantial shareholder. Dr Giles has sufficient experience, which is relevant to the style of mineralisation and type of deposit and activities described herein, to qualify as a Competent Person as defined in the 2012 Edition of “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Dr Giles consents to the inclusion in this website of the matters based on his information in the form and context in which it appears. Information for the Kalkaroo Ore Reserve and Mineral Resource and the Mutooroo Inferred cobalt and gold Mineral Resources complies with the JORC Code 2012. All other information was prepared and first disclosed under the JORC Code 2004 on the basis that the information has not materially changed since it was last reported. Havilah confirms that all material assumptions and technical parameters underpinning the reserves and resources continue to apply and have not materially changed.