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Savannah Resources Plc
Summary
| Project: | Block 5 | |
|---|---|---|
| Deposit: | Maqail South | |
| Location: | Oman | |
| Commodities: | Copper-Zinc-Gold-Silver | |
| Date: | 8/4/2016 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 4-8-2016: Savannah Resources Plc announces an Exploration/Drilling Update report for its Maqail South deposit at the Block 5 project. JV - drilling results incl. 2.00m @ 6.84% Cu, 0.02% Zn, 0.3g/t Au, 5g/t Ag from 47.50m. Savannah Resources plc (AIM: SAV) | |
| Resources: | (Resource, I+I): 1.7Mt @ 2.2% Cu | |
| 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 six drill holes have now been completed and assay results from two holes have been received 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 “While the drilling has been slower than expected, excellent results are coming from both the Aarja and Maqail South targets. Aarja is shaping up as a moderate-grade, underground deposit that can be readily accessed via the existing portal and decline while Maqail South is being validated as a very attractive, high-grade copper deposit readily mineable via open-cut methods. “An updated Mineral Resource for both Maqail South and Mahab 4 will be released in Q4, 2016 and will form an important part of our mining studies around a planned mine development for late 2017. “Drilling is continuing on both Maqail South and Bayda and we keenly await the results from the drilling completed to date.” | |
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