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Savannah Resources Plc
Summary
| Project: | Mutamba/Jangamo | |
|---|---|---|
| Deposit: | Ravene | |
| Location: | Mozambique | |
| Commodities: | Zircon-Titanium-Iron | |
| Date: | 3/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 27-3-2017: Savannah Resources Plc announces a Resource Estimation report for its Ravene deposit at the Mutamba/Jangamo project. JV with Rio Tinto - Initial Mineral resource estimate for Ravene Deposit. Savannah Resources plc (AIM: SAV) (‘Savannah’ or ‘the | |
| Resources: | (Resource, I+I): 4.4Bt @ 3.9% THM at project | |
| CP/QP: | [Resources]: Colin Rothnie (Independent) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV) (‘Savannah’ or ‘the Company’), is pleased to announce a maiden resource estimation for the Ravene deposit in Mozambique (‘Ravene’) (Figures 1). Ravene forms part of the Mutamba Mineral Sands Project, being developed by Savannah and Rio Tinto as part of a consortium agreement between the two parties (the ‘Consortium’). Savannah’s CEO, David Archer said: “The increased Mineral Resource for the Mutamba Project highlights its potential to be a significant producer of titanium feedstocks. In addition, this year we are seeing increasing prices for titanium feedstocks such as ilmenite and rutile, which means that it is an ideal time to be taking this project forward. “The addition of a further 92Mt of high grade resource defined at Ravene, when combined with the other three major deposits at the Mutamba Project, means we are off to a great start in delivering on the Consortium’s objective of defining an aggregate tonnage of high grade resources able to support an initial mining operation for at least 20 years.” The resource estimation utilised drill results from an initial drill programme completed by Rio Tinto between 2002 and 2004, with a total of 119 holes RC for 5,039m on a 1km by 500m grid (Figure 2- 4) and recent work completed by Savannah pursuant to the Consortium, with 107 holes drilled for a total of 2,914m, which infilled the drilling to 500m x 500m spacing. The aim of the drilling at Ravene was to infill the original grid on a 500m line spacing to provide drilling information at a concentration of 500m x 500m so that it could be used to calculate an Inferred Mineral Resource estimate and be incorporated into the scoping study that is currently underway. | |
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