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Savannah Resources Plc
Summary
| Project: | Mutamba | |
|---|---|---|
| Deposit: | Ravene | |
| Location: | Mozambique | |
| Commodities: | Zircon-Titanium-Iron | |
| Date: | 2/28/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Scoping Study | |
| Report details: | 28-2-2017: Savannah Resources Plc announces an Exploration/Drilling Update report for its Ravene deposit at the Mutamba project. JV with Rio Tinto - Drilling results incl. 45m @ 7.7% THM from 0m (5% THM cut off). Savannah Resources plc (AIM: SAV) ('Savann | |
| Resources: | (Maiden resource, I+I): 3.5Bt @ 3.8% THM at project | |
| CP/QP: | [Overall Report]: Dale Ferguson (Internal) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to confirm that is has identified significant zones of high grade total heavy mineral ('THM') mineralisation at the Ravene deposit in Mozambique. This follows the receipt of drill results from recent work undertaken by Savannah alongside the compilation and verification of legacy drill work undertaken by Rio Tinto (Figures 1). The Ravene deposit forms part of the Mutamba Mineral Sands Project, being explored by Savannah and Rio Tinto as part of a consortium agreement (the 'Consortium'). Savannah’s CEO, David Archer said: “The drilling results have underscored the Ravene deposit as a potential point of focus for evaluation as an initial mining area in the Scoping Study, which is currently underway. High THM grades have been identified from surface, which are very supportive of our development model for a high grade, low stripping ratio dry mining development. The Ravene deposit main zone shows very good continuity with thick sections of high grades in a 3.5km long zone and up to 1.5km wide. The programme was successfully planned and executed to more precisely define the high grade zones of THM at the Ravene deposit, which we believe could increase the current global Indicated and Inferred Mineral Resource inventory of 3.5 billion tonnes at 3.8% THM at the Mutamba Project North. In parallel, our Scoping Study to better determine the development potential of Mutamba continues to progress well.” | |
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