Perth, Feb 22, 2010 (ABN Newswire) - Havilah Resources NL's (ASX:HAV) Lilydale Iron Ore Project, following routine repairs and maintenance, the drilling rig has been mobilized to site to commence the 2010 drilling program. Drilling commenced yesterday at the Lilydale iron ore project, where up to ten shallow percussion (RC) holes are planned. These holes are designed to test the core of the large coincident gravity and magnetic anomaly associated with a poorly exposed portion of the Braemar Iron Formation.
The first hole was collared on a low ironstone outcrop from which a surface sample containing 58.6% Fe was previously collected. The first hole intersected a 40 metre downhole width of iron-rich, magnetite - bearing material and remained in ironstone at the completion of drilling yesterday. Drill chip samples will be collected over metre intervals in each drillhole and composited for assay.
The Lilydale iron ore projects lies 50 km southeast of Yunta, which is located on the Transcontinental Railway, some 200 km 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.
Contact
Dr Bob Johnson Chairman Tel: +61-8-8338-9292 www.havilah-resources.com.au
ASX:HAV) Lilydale Iron Ore Project, following routine repairs and maintenance, the drilling rig has been mobilized to site to commence the 2010 drilling program. Drilling commenced yesterday at the Lilydale iron ore project, where up to ten shallow percussion (RC) holes are planned. These holes are designed to test the core of the large coincident gravity and magnetic anomaly associated with a poorly exposed portion of the Braemar Iron Formation.
Havilah Resources Nl
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