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Savannah Resources Plc
Summary
| Project: | Block 4 | |
|---|---|---|
| Deposit: | Bayda | |
| Location: | Oman | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 9/12/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-9-2016: Savannah Resources Plc announces an Exploration/Drilling Update report for its Bayda deposit at the Block 4 project. Drilling results incl. 33.4m @ 0.69% Cu, 0.1g/t Au from 87m. Savannah Resources plc (AIM: SAV) (‘Savannah’ or ‘the Company’), t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dale Ferguson (Internal) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV) (‘Savannah’ or ‘the Company’), the AIM quoted resource development company, announces that it has now received further results from the ongoing drill programme over its highly prospective Block 4 and 5 properties in the Sultanate of Oman, which are prospective for copper and gold. Savannah is earning a 65% shareholding in the Omani company, Al Thuraya LLC, the owner of the Block 4 Project, and is a 65% shareholder in Al Fairuz Mining, the holder of the Block 5 licence. David Archer, Savannah’s Chief Executive Officer said today “The broad, high grade copper intersections outlined by the drilling underscore the very appealing, early development potential of the Block 4 and 5 licences in Oman. The Mahab 4 and Maqail South deposits in Block 5 already have a current Indicated and Inferred Mineral Resource of 1.7Mt at 2.2% copper and these recent drill results further underpin our confidence in their potential.” “The drilling is part of a wider set of preliminary studies being undertaken, with the intention that a central processing facility can be established to support the development of multiple, geocentric deposits. A broad, lower grade copper intersection was drilled at Bayda in Block 4, with the results consistent with our understanding of this deposit. We will continue to target this deposit as a potential larger tonnage, lower grade deposit alongside the higher grade Block 5 targets, as we continue to target production in late-2017.” | |
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