Perth, Nov 23, 2009 (ABN Newswire) - Havilah Resources NL (ASX:HAV) advises that it has completed the first stage of the detailed gravity survey at the Lilydale iron ore project, targeting the area of highest magnetic intensity of the Braemar Iron Formation. Gravity readings were carried out at 50m spacing along traverses 200m apart, covering approximately 2 km of strike of the western limb of the iron formation. Strong positive gravity anomalies closely match the areas of intense magnetism, indicating higher density material and hence higher iron contents in the underlying iron formation. In this regard it is of note that a sample, which previously assayed 58.6% Fe, lies in a comparatively moderate intensity part of the gravity and magnetic anomalies.
Both the gravity and magnetic data indicate that the iron formation is greatly thickened in the area of the gravity survey. This may be the result of thicker accumulation of iron-rich sediments in the original sedimentary basin, and / or subsequent structural repetition caused by folding or faulting.
An oblique 3D view of the magnetic data, reprocessed from PIRSA open files, shows the nonmagnetic Anabama Granite is enveloped on both sides by the highly magnetic iron formations. It is possible that heating and fluid input from the underlying granite remobilised and concentrated iron in this area, resulting in the high magnetic intensity. The extremely high magnetic ridge shown in the 3D view, and coincident with the gravity anomaly, is a priority target area for high grade iron ore.
A drilling program is planned to target the areas of interpreted higher grade iron as deduced from the gravity and magnetic data. In the absence of surface outcrops, the drilling is critical in understanding the geometry and grade distribution of iron within the iron formations.
The Lilydale iron ore projects lies 50 km southeast of Yunta, which is located on the Transcontinental Railway, some 200km east of Port Pirie. Aeromagnetic anomalies associated with magnetic ironstone indicate at least 20 km of strike of the Braemar Iron Formation lie within Havilah's 100% owned EL 3519.
About Havilah Resources Nl
Havilah Resources NL (ASX:HAV) was formed in late 1996 to explore for gold and other metals in South Australia. In mid 1997 Lion Selection Group Ltd became a cornerstone investor in Havilah and subsequently invested A$1.9m.
Havilah listed on the ASX on 21st March 2002, following a successful A$6 million capital raising. Since then the Company has patiently acquired a strategic, 100% owned ground holding in the Curnamona Province, now covering more than 6000 square kilometres of highly prospective Broken Hill age rocks.
As part of its copper strategy, Havilah aims to achieve annual copper and gold production of 55,000 tonnes and 100,000 ounces respectively, from mining operations to be developed on its three advanced projects, namely Kalkaroo, Mutooroo and Benagerie over the next three years. This will be accompanied by appreciable by-product cobalt, molybdenum and sulphuric acid production. Accordingly, Havilah is focused on completing feasibility studies on these three projects by the end of 2008.
Havilah Resources Nl
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