Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
2 February 2015
Savannah Resources Plc
Drilling Underway at High Priority Copper Targets, Oman
Savannah Resources plc (AIM: SAV) is pleased to announce that drilling has commenced in Oman, targeting the recently identified high priority ground Electro-Magnetic ('EM') targets at Sarami West (Block 5 - Savannah 65%) and Ghayth (Block 4 - Savannah earning 65%). To view the press release with the illustrative maps and diagrams please use the following link:
· A 10 hole diamond drill programme has commenced to test a series of high calibre ground EM anomalies at the Sarami West (Block 5) and Ghayth (Block 4) prospects
· The strongest anomaly was identified at Sarami West, which has very high conductance and the anomaly spans over 200m and remains open to the south
· The programme is expected to take around one month to complete and the Company will announce the results when they become available
· Semail Ophiolite belt is proven to host clusters of relatively high grade copper deposits with gold credits and metallurgically simple ores
· The Sultanate of Oman is a modern Middle Eastern country with excellent infrastructure, low fuel costs and a favourable fiscal regime for any potential mine development
Savannah's CEO, David Archer said, "We are very pleased to have been able to generate some very exciting, high quality ground EM targets and be drill testing them within six months of commencing ground activities in Oman. Our technical team has done a tremendous job identifying a number of high quality discrete EM anomalies with exceptionally high conductance demonstrating the excellent potential for the discovery of copper deposits within our licence area.
"The particularly important thing for us is that VMS deposits in Oman are known to occur in clusters or camps, so the fact that the recent ground EM survey has identified a series/cluster of new untested anomalies at both the Sarami West and Ghayth anomalies is particularly encouraging for us. We look forward to reporting on the progress of the drill programme over the coming weeks and months as work continues."
Diamond Drilling Programme
Oman based drilling company Gulf Geotech is contracted to complete the 10 hole programme testing four to five high priority ground EM targets at Sarami West and Ghayth with 1000-1200m of drilling expected to be completed.
Sarami West Prospect (Block 5)
A five hole diamond drilling programme has been designed for Sarami West to test the very strong response which has been identified towards the middle of line 2647450n (VTEM target 145), a second anomaly on the eastern end of the grid (VTEM target 146) and if results are encouraging the newly defined anomaly in the south east of the survey grid. Modelling of the ground EM data confirmed the three main anomalies have excellent conductance with the main anomaly defined over a strike length of at least 200m and remains open to the south where there is currently no further ground EM survey coverage.
Ghayth Prospect (Block 4)
A series of five diamond drill holes have been designed for the Ghayth Prospect to test two of the three discrete, flat lying, ground EM anomalies which have been defined at a depth of around 80m to determine whether they are sulphide mineralisation associated with the extensive surface gossan.
Ongoing Exploration Programme
Further work is now required to test the EM conductors defined by the recent ground EM survey and continue the ongoing exploration programme. The ongoing work programme is planned to include:
· Completing a detailed targeting assessment of the geophysical data looking at subtle anomalies, targets under cover and potential targets concealed by cover along known prospective trends
· Improving understanding through better characterisation of known deposits, inside and outside the blocks, especially through geochemical signatures of mineralisation and alteration and a better definition of structural and stratigraphic control
· Further geological mapping, geochemical sampling and airborne VTEM survey
· Drill targets being defined by a combination of VTEM conductors, ground EM follow-up, systematic surface geochemistry, geological mapping and geochemical targeting
The information in this document that relates to exploration results is based upon information compiled 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). Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.
For further information please visit www.savannahresources.com or contact:
Savannah Resources plc
Tel: 44 20 7389 5019
Samantha Harrison (Nominated Adviser)
Charlie Cryer (Corporate Broker)
RFC Ambrian Limited
Tel: 44 20 3440 6800
Felicity Winkles/ Charlotte Heap
St Brides Partners Ltd
Tel: 44 20 7236 1177
This information is provided by RNS