Havilah Locks Down Exploration Target for Grants Basin

- April 3rd, 2019

Havilah Resources has reported an initial iron ore exploration target for the Grants Basin in South Australia.

Havilah Resources (ASX:HAV) has reported an initial iron ore exploration target for the Grants Basin in South Australia.

Highlights from the press release are as follows:

Two separate models have been generated for the Exploration Target, which are considered potentially mineable given the estimated 0.35 – 0.40 stripping ratio, as summarized below:

  • West End – covers the western end of the Grants Basin where most of the drilling has been completed to date and therefore has a higher level of confidence. The 3D model was developed by generating a shape or volume lying between two interpreted surfaces, namely “top of iron sequence” and “base of iron sequence” which were constrained by drilling data in conjunction with surface mapping of outcropping iron sequence and interpretation of the aeromagnetic data. An infill reverse circulation (RC) / diamond drilling (DD) drilling program is planned for the West End area during 2019 in order to define a JORC resource.

  • South Flank – covers the southern flank of the Grants Basin. The western limit is defined by RC drilling with drillholes GBRC003 & GBRC013 showing the continuation of the gently to moderately north dipping, thick, iron bearing sequence. The South Flank model is interpreted to extend 500 m to the east beyond existing drilling but the magnetite bearing iron sequence is likely to continue considerably beyond this, based on aeromagnetic interpretation. For this Exploration Target it has been modelled to a vertical depth of ~500 m below surface, but may be considerably deeper. Future wide-spaced RC drilling is planned on 1 km spaced lines to better define the South Flank model.

Click here to read the full press release from Havilah Resources.

Are gold stocks a good idea for 2019?


Get your free market forecast today

Get the latest Iron Investing stock information

Get the latest information about companies associated with Iron Investing Delivered directly to your inbox.

Iron Investing

Leave a Reply

Your email address will not be published. Required fields are marked *