Cobalt potential boosts Havilah

SHARES in junior miner Havilah Resources surged 10% this morning after the company announced an inferred resource for cobalt contained within its flagship Kalkaroo copper-gold deposit west of Broken Hill, on the South Australian border.

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The company said it had added 23,200 tonnes of cobalt contained in a newly estimated inferred resource of 193.3 million tonnes grading 120 parts per million cobalt.

It expands Havilah’s total JORC resource cobalt inventory to 31,390t with “appreciable upside potential” once the Mutooroo copper-cobalt deposit in New South Wales is included.

If the company can get its Kalkaroo copper-gold project off the ground the cobalt would be recovered as a concentrate during the copper flotation process.

It is working on the best way to recover the metal from the cobaltian pyrite it is contained within.

Last month it entered into an agreement with ASX-listed Cobalt Blue Holdings for the testing of a sample of Mutooroo massive sulphide ore using that company’s proprietary c...