Havilah Resources is advancing its multi-commodity projects in South Australia’s Curnamona Province through strategic partnerships with Sandfire and Hillgrove, unlocking over $140 million in exploration and development funding.
- Sandfire commits $105M upfront for 80% Kalkaroo stake
- Hillgrove invests $5M upfront and $10M in drilling at Mutooroo
- Planned $70M pre-feasibility study at Kalkaroo underway
- 130km large-scale drilling program to support Kalkaroo PFS
- Havilah retains 20% carried interests in both projects
Multi-Commodity Potential in Underexplored Province
Havilah Resources (ASX:HAV) is positioning itself as a key project generator in South Australia’s Curnamona Province, a region boasting significant deposits of copper, gold, cobalt, molybdenum, uranium, tungsten, and rare earth elements. The company’s Technical Director, Dr Chris Giles, outlined a clear strategic path in a recent presentation titled “Prospect – Prove – Partner,” highlighting the province’s geological similarity to Australia’s more established mining hubs like the Gawler Craton and Mt. Isa–Cloncurry.
The Curnamona’s large stratabound mineralised systems remain underexplored due to limited outcrop, presenting ample opportunities for new discoveries. Havilah’s portfolio includes multiple high-conviction prospects, backed by a robust cash position and significant partner funding to accelerate exploration and development.
Sandfire’s $105 Million Bet on Kalkaroo
Central to Havilah’s strategy is the partnership with Sandfire Resources, which has committed $105 million upfront for an 80% stake in the Kalkaroo copper-gold project. This deal includes a planned $70 million pre-feasibility study (PFS), scheduled for completion in the second half of FY28, supported by a substantial ~130 km infill and extensional drilling program.
Sandfire’s early progress is tangible, with infrastructure such as an 80-bed onsite camp and a drillcore processing facility already established. Multiple rigs are poised to execute the large-scale drilling campaign, aiming to define and expand the resource base. Kalkaroo, one of Australia’s larger undeveloped open-pit copper-gold deposits, carries the potential to become Sandfire’s next major mining development in the country.
Hillgrove’s Role in Mutooroo Development
Meanwhile, at the Mutooroo copper-cobalt-gold project, Hillgrove Resources has entered a farm-in agreement that provides Havilah with a $5 million upfront payment in shares and options, plus up to $10 million earmarked for a minimum 5,000 metres of resource drilling. Hillgrove’s existing Kanmantoo processing plant, located just 55 km from Adelaide, offers a low-risk processing solution under a draft tolling and marketing agreement, potentially accelerating Mutooroo’s path to production.
Havilah retains a 20% interest in Mutooroo, which is loan-carried through to commercial production, providing ongoing exposure to any upside. Hillgrove’s proven operational track record in South Australia adds a layer of credibility to the project’s development prospects.
A Self-Reinforcing Growth Model
Havilah’s “Prospect – Prove – Partner” model is designed to generate value through a cycle of exploration success, resource definition, and strategic partnerships. Each successful deal brings upfront payments and retained interests that fund further exploration, creating a self-sustaining growth engine.
The company has secured $30 million from Sandfire for regional exploration within trucking distance of Kalkaroo, enhancing the chances of new discoveries in what remains a highly prospective but underexplored province. This regional focus, combined with Havilah’s multi-commodity exposure, offers investors high leverage to potential discovery success.
Compliance and Reporting Standards
Havilah confirms that all mineral resource and ore reserve estimates comply with the JORC Code 2012, with competent person statements provided by Dr Chris Giles. The company maintains transparency around forward-looking statements and cautions investors about inherent exploration risks and uncertainties.
Bottom Line?
Havilah’s substantial partner funding and strategic alliances accelerate exploration and de-risk project development, but upcoming drilling results and PFS outcomes will be critical to validating the company’s growth trajectory.
Questions in the middle?
- Will Sandfire’s large-scale drilling at Kalkaroo expand the resource sufficiently to justify development?
- How will Hillgrove’s tolling agreement impact the timeline and economics of Mutooroo’s production?
- Can Havilah’s regional exploration funding translate into new discoveries beyond its current projects?