Cavalla holds three Class B Mining Licenses as part of the Buchanan Iron Ore Tailings Project, located at the Port of Buchanan. Cavalla is considering a processing plant capable of producing between 0.7 and 1.2 Mt/y of 65% Fe pellet feed concentrate from the Buchanan Tailings Project. Cavalla completed a Definitive Feasibility Study for the Buchanan Tailings Project in August 2014.
In October 2015 Cavalla successfully completed the acquisition of BHP Billiton’s entire iron ore interests in Liberia. The iron ore interests acquired from BHP Billiton in Liberian comprise the exclusive rights granted over four exploration areas; Goe Fantro, Kitoma, St John River South, and Toto Range, as well as the right of first refusal over three additional exploration areas, all held under an existing Mineral Development Agreement with the Government of Liberia. Cavalla also acquired a further exploration license, Kitoma II, from BHP Billiton. The Kitoma and Kitoma II licenses are contiguous with Cavalla’s Nimba South exploration license. The defined iron ore resources for the projects acquired from BHP Billiton comprise 1.9 Bt of JORC-compliant resource, including approximately 132 Mt of Direct Shipping Ore at 57% Fe.
Cavalla is committed to becoming a junior iron ore producer through the development of its Goe Fantro project, which will be designed around an output of 5 million tonnes per annum. The project hosts a JORC compliant inferred resource of 568mt, including 101mt Direct Shipping Ore (“DSO”) averaging 57.2% Fe at a cut-off grade of 50% Fe. Significant resource upside potential exists at Goe Fantro, as the initial resource is located to the south of the deposit. Higher grade ores were found to the north of the deposit in the “Firestone” area where limited drilling has been undertaken to date.
The project has excellent infrastructure options, being 70km from the port of Buchanan with existing tarred roads. It is located within 7km of the navigable Farmington River which is 21km from the coast offering a possible barging and transhipment solution. The port of Buchanan has an existing iron ore berth with excess capacity.
Cavalla Resources is fast tracking a number of studies to determine the optimal development strategy for its iron ore projects, focused on high quality ore, proximity of infrastructure options, and low cost production.
2007 – Commencement in Liberia
2009 – Acquired mining licenses
2014 – Completed Buchanan Definitive Feasibility Study
2015 – Acquisition of BHP Billiton’s entire iron ore interests in Liberia