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5 stories mentioning ASX:HGOUpdated 1d ago

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Asia

Hillgrove Resources Says Drilling at South Australia Mine Confirms Presence of High-Grade Mineralization; Shares Gain 6%

Hillgrove Resources (ASX:HGO) said drilling at its Kanmantoo copper mine in South Australia between April and May further confirmed the presence of high-grade mineralization at the Emily Star deposit, according to a Wednesday filing with the Australian bourse.Assay results for five of the seven completed holes include 19 meters at 1.49% copper plus 0.13 grams per tonne grade of gold from 287 meters; about 15.9 meters at 1.53% copper plus 0.21 g/t gold from 254.1 meters; 4.5 meters at 0.77% copper plus 0.06 g/t gold from 319.9 meters; nearly 3 meters at 1.86% copper plus 0.02 g/t gold from about 65 meters; and about 2.7 meters at 1.3% copper plus 0.16 g/t gold from 297.5 meters.Drilling at Emily Star will continue into the September quarter to support a final investment decision, with a 2026 mineral resource estimate update scheduled for the December quarter, the company said.Hillgrove Resources shares gained 6% in recent Wednesday trade.

ASX:HGO
Asia

Hillgrove Resources Completes Stage One Consideration Payment to Havilah Resources

Hillgrove Resources (ASX:HGO) completed the AU$5 million stage one consideration payment to Havilah Resources (ASX:HAV) under the farm-in agreement on the Mutooroo project in South Australia, according to a Friday filing with the Australian bourse.The company issued 116.3 million shares as well as 116.3 million unlisted options at an exercise price of AU$0.052, with an expiry date of June 29, 2028, the filing said.The issue of the shares and options was conditional on the renewal of exploration license 6592, which was fulfilled on May 22.Meanwhile, the first phase of the Mutooroo pre‑feasibility study has started, with mobilization of the study team underway, per the filing.Havilah Resources shares rose 2% in midday trade Friday.

ASX:HAVASX:HGO
Asia

Hillgrove, Havilah Strike Binding Farm-in Agreement for South Australia Copper Project; Hillgrove Shares Up 4%, Havilah Jumps 7%

Hillgrove Resources (ASX:HGO), its unit Mutooroo Copper, Havilah Resources (ASX:HAV), and its subsidiary Copper Aura entered into a binding agreement giving Hillgrove the right to earn an 80% interest in the Mutooroo copper project in South Australia, according to a Wednesday Australian bourse filing.They executed a farm-in agreement contemplating the formation of an unincorporated joint venture. Hillgrove believes the project has the potential to lift Hillgrove's copper production beyond 20,000 tonnes per annum, subject to further test work and the outcomes of the prefeasibility study.Hillgrove will issue an up-front consideration of AU$5 million in Hillgrove fully paid ordinary shares as well as one attaching unlisted option per share issued, using its current available placement capacity, subject to the renewal of exploration license 6592 on reasonably acceptable terms. It will also invest up to AU$10 million, including a commitment to 5,000 meters of drilling for resource definition, over an earn-in period of up to 24 months.Hillgrove could earn an 80% interest in the project upon a final investment decision, via the payment of stage 2 consideration of AU$35 million, in both cash and fully paid ordinary shares. The stage 2 consideration and transfer of an 80% interest in Mutooroo are subject to satisfaction of certain customary conditions.Havilah's shares rose over 7% in recent trading on Thursday, while those of Hillgrove climbed over 4%.

ASX:HAVASX:HGO
Asia

Hillgrove Resources Intersects Copper-Gold Mineralization at Depth at South Australia Mine

Hillgrove Resources (ASX:HGO) intersected high-grade copper-gold mineralization at depth during the Kavanagh underground drilling activities at the Kanmantoo copper mine in South Australia, according to a Thursday Australian bourse filing.It encountered intercepts of 14.5 meters at 2.02% grade of copper, 0.07 grams per tonne grade of gold, and 5.42 g/t grade of silver from 132.5 meters, as well as 11.8 meters at 1.99% grade of copper, 0.14 g/t grade of gold, and 5.4 g/t grade of silver from 177.25 meters.The drilling is expanding the mineralized footprint beyond the current mineral resource estimate, Bob Fulker, Hillgrove's Chief Executive, said.Its shares rose 2% in recent trading on Thursday.

ASX:HGO
Asia

Hillgrove Resources Establishes Exploration Target For South Australia Prospect

Hillgrove Resources (ASX:HGO) established an exploration target for the Kanappa prospect in South Australia, which will be evaluated by the upcoming drilling program, according to a Thursday Australian bourse filing.It approximated an exploration target for the southern area of Kanappa of between 5.8 million and 11.5 million tonnes, with a target grade of 0.2% to 0.8% copper and 0.05 to 0.1 grams-per-tonne grade of gold, based on drilling results, soil geochemistry, geophysical surveys, and geological interpretation of the prospect.The South Australia Department for Energy and Mining approved the Exploration Programme for Environmental and Progressive Rehabilitation for the Kanappa target on EL6526.Its shares rose over 2% in recent trading on Thursday.

ASX:HGO

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