Last checked at 14 Oct 2015 07:00
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
14 October 2015
Savannah Resources Plc
Drilling Underway of High Priority Targets
Block 4, Semail Ophiolite Belt, Oman
Savannah Resources plc (AIM: SAV) ('Savannah' or the 'Company') advises that a 10 hole, 965m reverse circulation drilling programme of selected new VTEM targets and historical copper results, including the Aarja and Gaddamah prospects and VTEM Targets #4 and #13 in the Block 4 permit area in Oman, has commenced.
Savannah is earning a 65% shareholding in the Omani company, Al Thuraya LLC, the owner of the Block 4 Project ('the Project') by undertaking exploration activities on behalf of Al Thuraya.
Competent Person
The information in this announcement has been reviewed by Mr Dale Ferguson, Technical Director of Savannah Resources Limited. Mr Ferguson is a Member of the Australian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code).
**ENDS**
For further information please visit www.savannahresources.com or contact:
David Archer | Savannah Resources plc | Tel: +44 20 7389 5019 |
David Hignell / Gerry Beaney (Nominated Adviser) | Northland Capital Partners Ltd | Tel: +44 20 7382 1100 |
Jon Belliss / Elliot Hance (Corporate Broker) | Beaufort Securities Ltd | Tel: +44 20 7382 8300 |
Felicity Winkles/ Charlotte Heap | St Brides Partners Ltd | Tel: +44 20 7236 1177 |
**ENDS**
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, exploration and development company.
Savannah has agreed to acquire 100% of Matilda Minerals Limitada which currently operates the Jangamo exploration project, and has agreed with Rio Tinto to form a joint venture in Mozambique to develop the combined Mutamba/Jangamo Project. On 31 December 2014 Savannah announced maiden, 65Mt Inferred Mineral Resource @4.2% total heavy minerals ("THM") at a 2.5% cut-off grade for Jangamo. The Mutamba, Dongane and Chilubane deposits have a combined exploration target of 7-12Bn tonnes at 3-4.5% THM (published in 2008).
Savannah has interests in three copper blocks in the highly prospective Semail Ophiolite Belt in Oman. The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper and high grade intercepts of up to 56.35m at 6.21% Cu, with additional gold upside potential, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper and gold producer in a relatively short time frame. Together with its Omani partners, Savannah aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits.