Havilah Resources (ASX: HAV) has announced positive results from a study program on its Mutooroo copper-cobalt-gold project, funded by JX Advanced Metals Corporation (JXAM). The study, which included a 7,511-meter drilling program, metallurgical test work, and a mining study, has confirmed the potential for resource expansion and high copper recoveries. Drilling extended sulphide mineralization beyond current resource limits, with new drillholes showing grades comparable to the average Mutooroo JORC sulphide resource grade of 1.53% copper, 0.16% cobalt, and 0.20 g/t gold.
Metallurgical test work achieved copper recoveries exceeding 91% and produced high-grade concentrates with low levels of deleterious elements, aligning with JXAM’s smelter requirements. The study also validated multiple flow-sheet options, enabling the production of varying concentrate types based on smelter needs and market conditions.
A mining study considered a combined open pit and underground mining operation, accessed via a decline at the base of the open pit. The study indicated that a larger resource base would strengthen the project’s economic viability. Havilah and JXAM are now negotiating an agreement to proceed with a pre-feasibility study (PFS), aiming to commence work in July 2025. JXAM maintains exclusivity over Mutooroo until September 30, 2025. Mutooroo currently contains 195,000 tonnes of copper, 20,200 tonnes of cobalt, and 82,100 ounces of gold. Further drilling is planned as part of the PFS to optimize project economics. The positive study outcomes bring Havilah closer to potentially developing the Mutooroo project, leveraging JXAM’s expertise and financial backing.
