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6.35 0.07 (1.11%)

Bid:

6.20

Ask:

6.50

Spread: 0.30 (4.839%)

Market Cap: £163.54m

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Savannah Resources Says Drill Programme Underway In Oman

Mon, 02nd Feb 2015 10:55

LONDON (Alliance News) - Savannah Resources PLC said Monday that a 10 hole diamond drill programme has started at its high priority copper targets in Oman.

It expects the programme to take around a month to complete, and will announce results when they are available.

"We are very pleased to have been able to generate some very exciting, high quality ground Electro-Magnetic targets and be drill testing them within six months of commencing ground activities in Oman," said Chief Executive Officer David Archer in a statement.

The drilling is being undertaken by Gulf Geotech LLC, and 100 to 1200 meters of drilling is expected to be completed.

Shares in Savannah Resources are trading up 1.1% at 2.02 pence Monday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews