Board Change

RNS Number : 5048V

Savannah Resources PLC

07 August 2015

 



Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining

7 August 2015

Savannah Resources Plc

Board Change

Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), advises that Charlie Cannon-Brookes, who has served as Non-Executive Director since February 2013, has retired from the Board effective immediately.

Savannah's Chairman, Matthew King, said, "This change is a result of Charlie having successfully steered the Company through its recent strategic transformation, where it exited its West African gold projects and acquired interests in projects in its two new core geographies of Oman and Mozambique, in copper and heavy minerals respectively.

"During Charlie's directorship the Company strengthened its balance sheet, established a key management group and secured a valuable portfolio of new projects. Charlie had always made it clear that once this strategic transformation had been successfully implemented he would look to stand down and this has been cemented by the recent agreement to form a joint venture with Rio Tinto on their heavy minerals tenements in Mozambique.  The Company wishes to thank Charlie for his very significant contribution and to also wish him well in all his future endeavours, including the Executive Director role he has just taken on at Duke Royalty Limited. 

"We are now in the process of seeking a new Non-Executive Director to support us in our active growth strategy as we advance into our next phase of development and look forward to updating shareholders on our progress in due course."

**ENDS**

For further information please visit www.savannahresources.com or contact:

David Archer	Savannah Resources plc	Tel: [phone]
Samantha Harrison (Nominated Adviser) Charlie Cryer (Corporate Broker)	RFC Ambrian Limited	Tel: [phone]
Felicity Winkles/ Charlotte Heap	St Brides Partners Ltd	Tel: [phone]

**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.

 

END

 

 

BOAPRMATMBIMBIA