(MENAFN- ProactiveInvestors - Australia) Havilah Resources (ASX: HAV) has an iron ore deposit in northeastern South Australia so close to the Transcontinental railway line that "one can see and hear the trains moving along the line."
So said chairman, Dr Bob Johnson when talking about the initial resource estimate of 304 million tonnes for the Grants deposit.
Apart from being 8 kilometres from the Transcontinental railway and in close proximity to other power and gas infrastructure and one hour from Broken Hill, the discovery is blessed with no overburden.
The Grants prospect is in the Braemar Iron Ore Province.
This discovery is hot on the heels of Havilah's other iron ore success at the Maldorky iron ore project.
This also contains a substantial iron ore resource of similar style in addition to the Lilydale iron ore prospect currently being explored.
It underscores Havilah's intention of developing a long life regional iron ore portfolio capable of production within a relatively short timeframe for moderate capital expenditure.
The style of mineralisation and associated processing for these projects has indicated that a high grade (plus 60% Fe), low impurity product can be shipped from site.
Other key features of the Grants iron ore deposit are an Inferred Resource of 304 million tonnes of 24% iron applying an 18% Fe cut-off grade.
It contains more than 100 million tonnes of premium grade product (>60% Fe) with very low levels of impurity elements, assuming a yield factor of 33%.
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