Havilah Resources' Mutooroo Project - Copper, Cobalt & Gold
Mineral resource or reserve:
JORC Mineral Resources*: Total sulphide resource of 12.5 million tonnes @1.53% copper, 0.16% cobalt and 0.20 g/t gold for 192,000 tonnes of copper, 20,000 tonnes of cobalt and 80,600 ounces of gold.
Current or planned level of processing:
a) Operation underpinned by copper production. It is one of the highest-grade sulphide cobalt deposits with associated copper in Australia. Cobalt is contained within the iron sulphide minerals, pyrite and pyrrhotite, which can be separated and recovered during the copper sulphide concentration process.
b) The cobalt-bearing iron sulphides are potentially an attractive grade cobalt feedstock for subsequent processing to recover cobalt, and also if feasible, significant amounts of associated gold and sulphur.
c) Excellent resource expansion potential both along strike, down dip at depth and at many untested copper and cobalt prospects in the surrounding region.
1) Havilah is open to financial investment participation by a third party. Arrangements are flexible with respect to sale, direct investment and/or JV participation in the projects and regional exploration.
2) Offtake agreements for the copper concentrates and cobalt (in pyrite concentrate) -
a) Standard grinding and flotation processing on site will produce high quality copper concentrates with very low uranium and arsenic levels.
b) Up to 40% of cobalt is contained within cobaltian pyrite. This cobaltian pyrite can be concentrated from the copper concentrate tail during the flotation process.
3) Investment is also welcomed in the mineral processing, particularly for recovery of cobalt and sulphur from iron sulphide concentrates.
Project status update
Project status: PFS in progress, based on a 1 million tonne per annum throughput from an initial >5 year open pit followed by an underground operation.
Government approval status: Mining licence application in progress.
Current expected mine-life: 5+ years open pit followed by underground operations.
Expected start date - As yet undetermined as commencement of mining is subject to completion of a PFS and grant of required mining approvals.
Expected end date - Undetermined, but expected to be >13 years based on current resources and a potential 1 million tonne per annum ore throughput.
Funding round finish date - Funding is sought immediately to assist with work relating to completion of the PFS and mining approvals. Given the ability to utilise the nearby Broken Hill skilled workforce and the simplicity of the sulphide ore processing it is expected that capex requirements will be at the lower end of comparable projects.
Planning for smart energy efficient conventional open pit mining and ore processing that utilises modern technology including:
Low CO2 emissions with the majority of power from renewable sources due to the abundance of sunlight and wind.
Surveying and pitwall stability monitoring to be controlled by a state of the art I-Site laser scanner.
Highly automated processing plant able to recover copper and iron sulphide concentrates, which can be monitored and controlled remotely.
Opportunity to convert cobaltian pyrite feedstock to critical minerals cobalt compounds suitable for use in lithium ion batteries.
Investment sought: A$5M - A$25M
- Revenues underpinned by initial copper production from a high grade open pit, with substantial additional cobalt revenue targeted. One of the highest grade sulphide-associated cobalt deposits in Australia.
- Favourable logistics, located 16 km south of transcontinental railway and the Barrier Highway and 60 km southwest of the major regional mining centre of Broken Hill with its skilled workforce, permitting a drive-in and drive-out workforce.
- Exceptional exploration potential for discovery of additional copper, cobalt and gold resources in extensions to the deposit and in the surrounding tenements in the Mutooroo Copper-Cobalt District of northeastern South Australia.
- Havilah Resources Limited
Expected start date
Expected end date
Funding round finish date