Drilling Underway of High Priority Targets, Oman

RNS Number : 1470C

Savannah Resources PLC

14 October 2015

 

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

14 October 2015

Savannah Resources Plc

Drilling Underway of High Priority Targets  

Block 4, Semail Ophiolite Belt, Oman

Savannah Resources plc (AIM: SAV) ('Savannah' or the 'Company') advises that a 10 hole, 965m reverse circulation drilling programme of selected new VTEM targets and historical copper results, including the Aarja and Gaddamah prospects and VTEM Targets #4 and #13 in the Block 4 permit area in Oman, has commenced.

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.

Competent Person

The information in this announcement has been reviewed 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).

**ENDS**

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

David Archer	Savannah Resources plc	Tel: [phone]
David Hignell / Gerry Beaney (Nominated Adviser)	Northland Capital Partners Ltd	Tel: [phone]
Jon Belliss / Elliot Hance (Corporate Broker)	Beaufort Securities Ltd	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

 

 

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