Havilah Resources has discovered a major new iron ore deposit in the Grants Iron Ore Basin in South Australia.
|Aerial view of drill site GBRC005, recently completed within the Grants Iron Ore Basin|
A recently completed 13-hole, 3.5-kilometre reverse circulation (RC) drilling program successfully intersected consistently thick iron formation in multiple drillholes over an area of at least 3.5 km2 in the western part of the basin.
This drilling is part of a comprehensive program of work currently being performed and funded by SIMEC Mining – an affiliate of the GFG Alliance – as part of their due diligence investigation of the commercialisation potential of Havilah’s Maldorky and Grants iron ore projects.
The drilling was carried out by Ausdrill (ANW) using a large capacity RC drilling rig. Several holes were drilled to 316 metres depth (utilising the total of the available drilling rods) and still remained in the iron formation.
Commenting on the drilling results, Havilah’s Technical Director, Dr Chris Giles said the drilling program has confirmed the original exploration concept for the existence of a thick, relatively shallow, iron formation in the Grants Iron Ore Basin.
“The beauty is that the deposit starts near surface, lies only 11 km from the Transcontinental Railway line and is just over a one-hour drive from Broken Hill, which makes it uniquely favourable for development.
“At this stage, we can only guess at the potential size of the deposit, but based on the thickness of the iron formation and its areal extent, it is apparent that there exists significant resource potential,” said Dr Giles.
The iron-rich lateritised cap on the deposit was mined from the Grants quarries by BHP in the 1890s as flux for the Broken Hill smelters, but the primary iron deposit has lain essentially unrecognised until now.
“Havilah’s recognition of the exploration potential and patience in accumulating all of the ground covering the Grants Iron Ore Basin over a period of several years, has finally been rewarded with these substantial interim drilling results,” commented Dr Giles.