Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
24 December 2014
Savannah Resources Plc
Ground Electromagnetic Survey Completed on Blocks 4 and 5 Copper Targets, Oman
Savannah Resources plc (AIM: SAV) advises that it has competed a ground electromagnetic survey ('EM'), at Blocks 4 and 5 Copper Projects, located in the mineral rich Oman Ophiolite belt. This work is the precursor to drilling over a series of high priority copper targets which is targeted to begin Q1 2015. To view the press release with the illustrative maps and diagrams please use the following link:
HIGHLIGHTS:
· A ground electromagnetic survey has been completed over Versatile Time Domain Electromagnetic Surveying ('VTEM') targets
· VTEM anomalies were surveyed at Sarami West (Block 5), Wadi Ahin (Block 5) and one at the Ghayth Prospect (Block 4)
· Results from the EM survey targeted for release in January 2015 which, together with other key data layers, will be used to target drill holes to test the anomalies for VMS copper mineralisation
· Tenders are now being sought for a 2,000m diamond drilling programme expected to commence in Q1 2015
Savannah's CEO, David Archer said, "Our exploration campaigns in Oman are progressing well and on target with the timely completion of the EM programme over the Block 5 VTEM targets and the expansion of the survey to include a promising target on Block 4. The data processing is underway and the conclusions from the analysis of the EM data will be released in January 2015. However, based on what we have already seen from the EM, we are going out to tender a 2,000m diamond drilling programme which is expected to commence early in Q1 2015.
"In 2015, we will be accelerating the tempo of our exploration activities on Blocks 4, 5 and 6 with tenders also being sought for an extensive airborne VTEM survey over the newly acquired Block 4 project."
Competent Person
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.
**ENDS**
For further information please visit www.savannahresources.com or contact:
David Archer |
Savannah Resources plc |
Tel: +44 20 7389 5019 |
James Biddle (Nominated Adviser) Charlie Cryer (Corporate Broker) |
RFC Ambrian Limited |
Tel: +44 20 3440 6800 |
Felicity Winkles/ Charlotte Heap |
St Brides Media & Finance Ltd |
Tel: +44 20 7236 1177 |
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, exploration and development company. It has an 80% shareholding in Matilda Minerals Limitada which operates the Jangamo exploration project in a world class mineral sands province in Mozambique which borders Rio Tinto's Mutamba deposit, one of two major deposits Rio Tinto has defined in Mozambique, which collectively have an exploration target of 7-12Bn tonnes at 3-4.5% THM1 (published in 2008).
Savannah has interests in three copper projects 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, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper 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.
In addition, Savannah owns a 19.7% strategic shareholding in Alecto Minerals Plc which provides Savannah with exposure to both the highly prospective Kossanto Gold Project in the prolific Kenieba inlier in Mali and also to the Wayu Boda and Aysid Meketel gold / base metal projects in Ethiopia for which Alecto has a joint venture with Centamin Plc. Under this joint venture, Centamin Plc is committing up to US$14m in exploration funding to earn up to 70% of each project.
