Consolidated Mining & Civil Pty Ltd. secured an exclusive option to develop Havilah Resources Ltd.'s North Portia copper-gold deposit in South Australia.
The companies signed a binding memorandum of understanding for the option, which expires June 30, 2018, to enter a development agreement.
During the option period, Havilah and Consolidated Mining will jointly complete a pre-feasibility study by the end of June 2018, and work on a detailed mine design, according to the Nov. 22 release from Havilah.
The initial mining target will be about 5 million tonnes of free digging secondary saprolite gold and copper-gold material above 150 meters depth, which can be processed in the Portia mine gold plant. A flotation circuit will be used to recover the finer free gold and the copper sulfides.
The start of overburden removal at North Portia is expected by July 2018.