Regulatory Filings • Nov 4, 2015
Regulatory Filings
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National Storage Mechanism | Additional information
RNS Number : 4566E
Savannah Resources PLC
04 November 2015
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
4 November 2015
Savannah Resources Plc
Drilling Underway at High Priority Targets
Block 4, Semail Ophiolite Belt, Oman
Savannah Resources plc (AIM: SAV) ('Savannah' or the 'Company') advises that drilling has commenced of selected new VTEM targets and historical copper results around the Aarja Prospect in the Block 4 permit area (Figure 1-5). Savannah is earning a 65% shareholding in the Omani company, Al Thuraya LLC, the owner of the Block 4 Project ('the Project') by undertaking exploration activities on behalf of Al Thuraya. To view the press release with the illustrative maps and diagrams please use the following link:
HIGHLIGHTS:
· 10 hole RC/diamond programme targeting the Aarja, Zuha and Gaddamah prospects has commenced
· High Priority VTEM targets #4 (Aarja) and #13 (Zuha) will be drilled to test for VMS mineralisation
· Drill testing the depth extents of the gossan at the southern end of the Aarja pit which returned a trenching result of 14.5m at 8.03g/t gold and 0.9% copper (AJT001)
· Drill testing at the Gaddamah Gossan following up encouraging trenching results like 7.7m at 11.35g/t gold, 1.45% zinc and 0.40% copper in GDT01
· Confirmation drilling targeted at the historical drill results in the Aarja Main and Dog Bone zones as a precursor to a JORC resource estimate
o Aarja Main - 18.58m at 4.7% copper from 143m (hole 10-23)
o Dog's Bone - 33.8m at 3.35% copper from 153.1m (hole AEX-39)
· To date a total of 6 holes (603m) of the planned 7 hole programme at the Aarja Prospect have been completed
· Drilling has been slower than expected due to some equipment breakdowns and is scheduled to continue for a further 2 weeks
Savannah's CEO, David Archer said, "This new drill programme marks the start of a very exciting new phase for Savannah and our joint venture partners Al Thuraya as we begin drill testing some of the highly prospective exploration targets and begin work to confirm the historical drill results. Given the strength of the new VTEM targets and their favourable location within the geology we think our chances of a new discovery are very good. Drilling to verify the historical data will also commence and if successful we plan to complete a maiden JORC compliant mineral resource estimate before the end of the 2015 calendar year."
Figure 1. Project Location Map - see PDF link
http://www.rns-pdf.londonstockexchange.com/rns/4566E_-2015-11-3.pdf
Planned Drilling Programme
Aarja: Seven (7) holes (Table 1 and Figure 2-4) have been designed to test 3 separate targets at the Aarja Prospect area. One hole will test VTEM Target #4, the priority 1 VTEM anomaly identified 400m to the west of the Aarja pit and the top of this conductor is modelled at 30m below the surface. Three (3) holes are proposed to confirm the location and grades reported for the Dogs Bone mineralisation as a precursor to a mineral resource estimation. Significant historical results include:
o Aarja Main - 18.58m at 4.7% copper from 143m (hole 10-23)
o Dog's Bone - 33.8m at 3.35% copper from 153.1m (hole AEX-39)
A further three holes targeted at the high grade gold returned from trenching across the gossan at the southern end of the pit which returned a result of 14.5m at 8.03g/t gold and 0.9% copper (AJT001).
VTEM 13: Target #13 (Figure 5) was identified from the VTEM survey flow over Block 4 in April 2015 and is located about 2km north of the Zuha Gossan. The anomaly is visible on three adjacent lines which suggests that mineralisation may have continuity over 300m.
Gaddamah: Two (2) 30m holes testing down dip extensions of surface sampling completed on the Gaddamah West Gossan where elevated gold results (Figure 2) were returned to determine if the results have any down dip continuity. Significant trench sampling results include:
- 5m at 18.49g/t gold, 1.7% zinc and 0.53% copper in GDT08
- 4.9m at 18.82g/t gold, 0.96% zinc and 0.76% copper in GDT02
- 7.7m at 11.35g/t gold, 1.45% zinc and 0.40% copper in GDT01
The prospectivity of Gaddamah West prospect is underscored by historical drill intercept of 15.9m @1.91 g/t gold and 1.2% copper from BEC23 which is located at the southern end of the gold zone.
Table 1: Aarja Drill Hole Summary
| Project | Hole ID | Northing | Easting | mRL | Azimuth | Dip | EOH Depth |
| VTEM #4 | 15B4RC001 | 2693035 | 440600 | 230 | 270 | -60 | 100 |
| Dogs Bone | 15B4RC002 | 2692558 | 440379 | 230 | 0 | -90 | 150 |
| Dogs Bone | 15B4RC003 | 2692581 | 440431 | 230 | 0 | -90 | 150 |
| Dogs Bone | 15B4RC004 | 2692571 | 440499 | 230 | 0 | -90 | 220 |
| Dogs Bone Gossan | 15B4RC005 | 2692619 | 440326 | 230 | 300 | -60 | 50 |
| Dogs Bone Gossan | 15B4RC006 | 2692606 | 440323 | 230 | 300 | -60 | 50 |
| Dogs Bone Gossan | 15B4RC007 | 2692624 | 440313 | 235 | 0 | -90 | 30 |
| VTEM #13 | 15B4RC008 | 2678185 | 451625 | 212 | 270 | -60 | 175 |
| Gaddamah | 15B4RC009 | 2684594 | 440339 | 290 | 0 | -90 | 30 |
| Gaddamah | 15B4RC010 | 2684583 | 440347 | 290 | 0 | -90 | 30 |
Figure 2. Gaddamah Prospect - Planned drilling showing trenching results - see PDF link
http://www.rns-pdf.londonstockexchange.com/rns/4566E_-2015-11-3.pdf
Figure 3. Aarja Prospect - Proposed drilling and historical intercepts - see PDF link
http://www.rns-pdf.londonstockexchange.com/rns/4566E_-2015-11-3.pdf
Figure 4. VTEM Anomaly 4 planned drilling - see PDF link
http://www.rns-pdf.londonstockexchange.com/rns/4566E_-2015-11-3.pdf
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:
For further information please visit www.savannahresources.com or contact:
| David Archer | Savannah Resources plc | Tel: +44 20 7389 5019 |
| David Hignell / Gerry Beaney (Nominated Adviser) | Northland Capital Partners Ltd | Tel: +44 20 7382 1100 |
| Jon Belliss / Elliot Hance (Corporate Broker) |
Beaufort Securities Ltd | Tel: +44 20 7382 8300 |
| Felicity Winkles/ Charlotte Heap | St Brides Partners Ltd | Tel: +44 20 7236 1177 |
**ENDS**
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, exploration and development company.
Savannah has agreed to acquire 100% of Matilda Minerals Limitada which currently operates the Jangamo exploration project, and has agreed with Rio Tinto to form a joint venture in Mozambique to develop the combined Mutamba/Jangamo Project. On 31 December 2014 Savannah announced maiden, 65Mt Inferred Mineral Resource @4.2% total heavy minerals ("THM") at a 2.5% cut-off grade for Jangamo. The Mutamba, Dongane and Chilubane deposits have a combined exploration target of 7-12Bn tonnes at 3-4.5% THM (published in 2008).
Savannah has interests in three copper blocks 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, with additional gold upside potential, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper and gold 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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