TIDMSAV
RNS Number : 2925Z
Savannah Resources PLC
17 September 2015
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector:
Mining
17 September 2015
Savannah Resources Plc
Salahi 1 Continues to Return High Grade Gold Results
Block 4, Semail Ophiolite Belt, Oman
Savannah Resources plc (AIM: SAV) ('Savannah' or the 'Company')
advises that it has identified further high grade gold
mineralisation at the Salahi 1 Prospect (Figure 1) at its Block 4
copper-gold project in Oman. The results follow completion of
additional rock chipping and trenching as part of the geologically
mapping of Block 4. Savannah is earning a 65% shareholding in the
Omani company, Al Thuraya LLC, the owner of the Block 4 licence
project ('the Project'). To view the press release with the
illustrative maps and diagrams please use the following link:
HIGHLIGHTS:
-- Block 4 gold potential increased by the identification of
further high grade gold mineralisation between the Salahi Main
Gossan and Salahi North Prospects (Figure 2)
-- Individual grab samples produced results of up to 13.9g/t gold
-- Significant trench sampling results include 12m at 11.87g/t
gold in SCH16 (previously reported)
-- Anomalous gold results have now been identified over 1km
along strike, with widths up to 26m and remains open to the north
and south providing significant further upside potential
-- Additional sampling now being planned to further define the
extent of the mineralisation as a precursor to drilling to define
the strike and depth extents of the mineralisation
Savannah's CEO, David Archer said, "Further geological mapping
and rock chips sampling continues to highlight the significant gold
potential of the Salahi 1 prospect. With grades of up to 13.9g/t
gold returned from this recent campaign, we remain confident that
Block 4 has the potential to host significant gold mineralisation.
The large zone of gold mineralisation defined at Salahi 1 has good
strike length and width, and importantly remains open along strike
to the north and south. The exploration team will continue to
sample and conduct geological mapping of the project area in order
to determine the most prospective targets for drilling.
Importantly, Block 4 is prospective for both gold and copper, so in
conjunction with our gold exploration activity, we continue to
define the licence's outstanding copper potential. With
multi-commodity upside opportunity, a strategic location close to
established infrastructure and a defined development path, Block 4
and our wider Omani portfolio represents a strategic investment
opportunity and I look forward to the opportunities available to
us."
Figure 1. Salahi 1 Project Location Map - see PDF link
http://www.rns-pdf.londonstockexchange.com/rns/2925Z_-2015-9-16.pdf
Rock Chip Channel Sampling Programme
The sampling at Salahi 1 was concentrated on two main areas, the
Main Gossan area and the North Gossan, which outcrops about 1km to
the north of the Main Gossan.
Salahi 1 North Gossan
Following the trench sampling and surface rock chip samples,
that were collected in May and June 2015 (and reported on 5 May and
3 June 2015), a small programme of mapping and sampling was
subsequently completed to try and locate the position of gossanous
material between the Salahi Main Gossan and the Salahi North
Gossan. Several gossanous outcrops were identified and sampled. Ten
samples were collected with several elevated values returned with a
maximum of 13.9g/t gold.
The mapping and sampling indicated that there is some continuity
of the gossanous zones. Further, more detailed mapping is now
required to determine the exact mineralised positions prior to
drill testing.
Figure 2. Salahi 1 Rockchip and Trench Sampling Location Map -
see PDF link
http://www.rns-pdf.londonstockexchange.com/rns/2925Z_-2015-9-16.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:
David Archer Savannah Resources plc Tel: +44 20 7389
5019
Samantha Harrison (Nominated RFC Ambrian Limited Tel: +44 20 3440
Adviser) 6800
Charlie Cryer (Corporate Broker)
Felicity Winkles/ Charlotte St Brides Partners Ltd Tel: +44 20 7236
Heap 1177
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented,
multi-commodity, exploration and development company.
It has a 100% shareholding in Matilda Minerals Limitada which
operates the Jangamo exploration 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 project is located in a world class mineral sands province in
Mozambique which borders Rio Tinto's Mutamba deposit, one of two
major deposits Rio Tinto has defined in Mozambique, which
collectively have an 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.
APPENDIX 1
Summary of Anomalous Results from Rock Chipping Programme
(>0.1g/t Au, >0.5% Cu, >1% Zn)
Sample Area Prospect East North Sample Gold Silver Copper Zinc Lead
Description (g/t) (g/t) (%) (%) (%)
-------- --------- -------------- ---------- ----------- ------------- ------- ------- ------- ------ ------
Salahi North
GR4031 Block_4 Gossan 454076.35 2671627.36 Gossan 8.199 35 0.008 0.02 0.05
-------- --------- -------------- ---------- ----------- ------------- ------- ------- ------- ------ ------
Salahi North
GR4032 Block_4 Gossan 454078.28 2671625.69 Gossan 0.912 <2 0.014 0.08 <0.01
-------- --------- -------------- ---------- ----------- ------------- ------- ------- ------- ------ ------
Salahi North
GR4033 Block_4 Gossan 454079.82 2671631.45 Gossan 5.05 33 0.027 0.18 0.02
-------- --------- -------------- ---------- ----------- ------------- ------- ------- ------- ------ ------
Salahi North
GR4034 Block_4 Gossan 454123.09 2671253.75 Gossan 0.101 <2 0.024 0.02 <0.01
-------- --------- -------------- ---------- ----------- ------------- ------- ------- ------- ------ ------
GR4039 Block_4 Salahi1 454155 2671571 Si Gossan 5.679 11 0.014 0.07 0.02
-------- --------- -------------- ---------- ----------- ------------- ------- ------- ------- ------ ------
GR4040 Block_4 Salahi1 454012 2671769 Si Gossan 13.9 60 0.002 <0.01 0.05
-------- --------- -------------- ---------- ----------- ------------- ------- ------- ------- ------ ------
Rock chips were assayed via the following method
-- The tested samples were dried at 85degC, crushed and pulverized to 75 <MU>m
-- The method for gold analysis was using was fire assay (using
30g samples) with an atomic absorption spectrometry (AAS) finish,
which detected gold in the range of 5ppb - 10ppm. A re-assay with
gravimetric finish was used with the initial assay detected
>10ppm gold (and silver) using a further 30g sample
-- The method for copper analysis was a 24 element inductively
coupled plasma optical emission spectrometry (ICP-OES) analysis of
an Aqua Regia digestx
This information is provided by RNS
The company news service from the London Stock Exchange
END
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