Growth of copper mineralization at Havilah
Golden Deeps (ASX: GED) is making notable advancements in broadening its Havilah copper project, situated within the highly promising Lachlan Fold Belt of New South Wales. The firm recently announced the identification of a 92-meter-thick segment of copper mineralization in hole HVD004, as part of its ongoing diamond drilling initiative. This finding underscores the potential for a considerable enhancement in the project’s resource portfolio.
The Lachlan Fold Belt is renowned for containing world-class copper-gold deposits, and the recent findings from Havilah indicate that Golden Deeps is strategically positioned to leverage this bountiful region. The 92-meter intercept gains particular attention as it reflects an extensive zone of mineralization, which could facilitate future resource advancements and improve the project’s economic viability.
With copper prices remaining robust due to rising demand from the renewable energy and electric vehicle industries, the timing of this discovery could be beneficial for Golden Deeps. Investors are expected to closely monitor the company’s forthcoming actions as it continues to investigate and define the extent of copper mineralization at Havilah.
Encouraging outcomes from diamond drilling initiative
The diamond drilling initiative at Havilah has yielded encouraging outcomes, with hole HVD004 standing out prominently. The 92-meter-thick segment of copper mineralization found in this hole is a major breakthrough, as it indicates the possibility of a large-scale copper system. This intercept is remarkable not just for its thickness but also for the steady mineralization throughout the area, suggesting a strong and continuous copper deposit.
Golden Deeps’ drilling strategy has been tailored to examine extensions of known mineralized areas, as well as pinpointing new targets within the expansive Havilah project zone. The success of HVD004, the fourth hole in the current series, highlights the effectiveness of this methodology. The company has already signified that additional drilling is on the agenda to follow up on these promising results, aimed at enlarging the mineralized footprint and enhancing geological comprehension of the deposit.
Investors will be eager to see how these findings shift into resource expansion. If the mineralization observed in HVD004 can be replicated in future holes, it could lead to a substantial upgrade in the project’s resource assessment. This would not only elevate the value of the Havilah project but also establish Golden Deeps as a significant player in the copper sector, especially at a juncture where global copper demand is anticipated to escalate dramatically.
As the diamond drilling initiative advances, the market will be attentively observing assay results and updates regarding the geological model. Positive developments from the continuous exploration could serve as a trigger for the company’s share price, particularly if the drilling persists in intersecting broad zones of copper mineralization akin to HVD004.
