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Havilah Update on North Portia Copper-Cobalt-Gold Resource

Havilah Resources (ASX: HVL) announced a resource upgrade for its North Portia copper-cobalt-gold project yesterday, 15 May 2018.

The figures included a maiden cobalt resource of 594 tonnes and took total resources of other minerals to 258,000 ounces of gold and 5,630 tonnes of molybdenum.

Cobalt has enjoyed very strong gains over the last 12 months due to growing demand by battery manufacturers.

3 mineralisation zones defined by geological controls and resource block modelling at North Portia. New resources are reported for the two upper zones - both contained within the conceptual 5 year open pti design. (Oxide gold – gold, with very minor uneconomically recoverable copper and molybdenum. Supergene sulphide copper-gold – dominated by the copper mineral chalcocite and cobaltian pyrite. Primary sulphide copper-gold – dominated by the copper mineral, chalcopyrite and cobaltian pyrite.)

Havilah CEO, Mr Walter Richards said: “Confirmation of the upgraded Measured Resource status of the supergene sulphide copper-cobalt-gold mineralisation is an important step for us. This establishes, with a high level of confidence, sufficient JORC resources to sustain ongoing mining operations at Portia with the addition of mining of the North Portia project.

Activity including metallurgical test work and negotiations relating to the future mining agreement are ongoing.

Havilah continues to work on its Kalkaroo and Mutooroo projects.