TIDMSAV
RNS Number : 7175Z
Savannah Resources PLC
22 September 2015
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector:
Mining
22 September 2015
Savannah Resources Plc
High Grade Copper Mineralisation Identified at the Aarja
Prospect
Block 4, Semail Ophiolite Belt, Oman
Savannah Resources plc (AIM: SAV) ('Savannah' or the 'Company')
announces that it has identified new high grade copper
mineralisation on at the Aarja Prospect at its Block 4 permit
following a detailed collation of historical data. The copper
mineralisation is located along strike and under the previously
mined Aarja pit (Figure 1-4). Savannah is earning a 65%
shareholding in the Omani company, Al Thuraya LLC, the owner of the
Block 4 Project ('the Project'). To view the press release with the
illustrative maps and diagrams please use the following link:
HIGHLIGHTS:
-- New copper mineralisation model produced for the Aarja Main, Dogs Bone and Aarja South Zones demonstrating high grade copper mineralisation under the Aarja pit and along strike
-- Newly identified, historic high grade results (Appendix 1) include:
o Aarja Main - 18.58m at 4.7% copper from 143m (hole 10-23)
- 24m at 3% copper from 143.5m (hole 10-82)
- 20m at 2.5% copper from 144m (hole 10-80)
o Dog's Bone - 33.8m at 3.35% copper from 153.1m (hole AEX-39)
- 10m at 4.17% copper and 2.43% zinc from 100.5m (hole AEX-31)
- 7.8m at 6.77% copper from 116.1m (hole AEX-11)
- 5.05m at 8.49% copper and 2.86% zinc from 130.9m (hole AEX-42)
o Aarja South - 9.8m at 3.86% copper from 224m (hole AEX-36)
-- A trench previously completed by Savannah over an outcropping
gossan to the immediate south of the main Aarja pit (14.5m at
8.03g/t gold and 0.9% copper) suggest the potential to expand the
pit to the south (Appendix 2)
-- A series of holes will be drilled to confirm the historic
results prior to the calculation of a JORC compliant mineral
resource estimate, targeted during Q4 2015
-- The existing open pit and underground development allows access to the copper mineralisation
Savannah's CEO, David Archer said, "Savannah, together with our
partners Al Thuraya, are very encouraged by these results from the
compilation of the historic data at the Aarja Prospect at Block 4.
Whilst work is still continuing in finalising this model, the early
signs point towards a significant zone of copper mineralisation
being present under the Aarja pit and along strike. Following
completion of the data compilation and interpretation, we will look
to complete some confirmatory drilling to verify the historical
data as much of the previous drilling was undertaken in the 1980's.
Should our drilling verify the historical data, we plan to complete
a maiden JORC compliant mineral resource estimate before the end of
the 2015 calendar year.
"The existing open pit and underground development which access
the copper mineralisation may allow for a rapid, low cost mine
development, but further work is required to confirm this. These
results continue to support Savannah's view that Oman is a first
class destination for copper VMS mineralisation, with excellent
infrastructure coupled with a low cost setting, making Oman a
compelling investment location."
Figure 1. Project Location Map
http://www.rns-pdf.londonstockexchange.com/rns/7175Z_1-2015-9-21.pdf
Historic Data Compilation
An outline of copper mineralisation has been completed for the
Aarja Prospect based on historical drill data collected between
1975 and 1994. A total of 84 holes are known to have been drilled
into the Aarja Prospect. To date assay and lithological data for 64
holes has been located and digitised. All the historic holes were
completed using diamond coring with samples collected based on
geological intervals and assayed for copper by AAS in laboratories
in Canada and Oman.
Three dimensional wireframes of the mineralisation were
constructed based on geological logging and a nominal 0.5% Cu
cut-off grade. The next steps will be to undertake some
confirmatory drilling to verify the copper mineralisation model and
subsequently generate a maiden JORC compliant mineral resource
estimate.
Figure 2. Aarja Prospect copper mineralisation model and
selected copper intercepts
http://www.rns-pdf.londonstockexchange.com/rns/7175Z_1-2015-9-21.pdf
Note: Whilst every effort has been made to verify the historical
data, not all exploration and mining data has been located to date.
Following integration of new confirmatory drilling, and additional
historical data which may become available, the mineralisation
models as presented above may change. In the case of the main Aarja
lode, until further data can been located and integrated into the
model only intercepts below the base of the known underground
workings have been presented.
Trench Sampling
Trench sampling was recently undertaken by Savannah across a
large gossan at the southern end of the Aarja pit to test for
copper and gold mineralisation. The results have demonstrated a
broad zone of high grade gold and copper mineralisation, returning
14.5m at 8.03g/t gold and 0.9% copper. Further sampling is now
required to assess the extent and tenor of the mineralisation.
Figure 3. Summary map of new Aarja trench sampling and
historical drilling
http://www.rns-pdf.londonstockexchange.com/rns/7175Z_1-2015-9-21.pdf
Figure 4. Trench sampling at the southern end of the Aarja pit
(June 2015)
http://www.rns-pdf.londonstockexchange.com/rns/7175Z_1-2015-9-21.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.
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.
APPENDIX 1 - Significant Historical Aarja Drilling Results
Hole Prospect RL Azimuth Dip EOH From To Down hole Grade Grade
ID (Deg) (Deg) (m) (m) (m) interval Cu % Zn %
(m)
------- ------------ ---- -------- ------- ----- ------- ------- ---------- ------ ------
10-24 Aarja 225 0 -90 234 150.00 162.76 12.76* 2.56
------- ------------ ---- -------- ------- ----- ------- ------- ---------- ------ ------
Oct-80 Aarja 225 0 -90 181 144.00 164.00 20.0* 2.50
------- ------------ ---- -------- ------- ----- ------- ------- ---------- ------ ------
10-82 Aarja 225 0 -90 196 143.50 167.50 24.0* 3.01
------- ------------ ---- -------- ------- ----- ------- ------- ---------- ------ ------
10-23 Aarja 225 0 -90 186 142.96 161.54 18.58* 4.70
------- ------------ ---- -------- ------- ----- ------- ------- ---------- ------ ------
10-36 Aarja 225 0 -90 276 167.34 174.65 7.31* 3.69
------- ------------ ---- -------- ------- ----- ------- ------- ---------- ------ ------
10-36 Aarja South 225 0 -90 276 224.03 233.78 9.75* 3.86
------- ------------ ---- -------- ------- ----- ------- ------- ---------- ------ ------
AEX-08 Dogs Bone 232 0 -90 350 126.95 134.40 7.45 3.48 3.04
------- ------------ ---- -------- ------- ----- ------- ------- ---------- ------ ------
(MORE TO FOLLOW) Dow Jones Newswires
September 22, 2015 02:00 ET (06:00 GMT)
African Min&Ex (LSE:AME)
Historical Stock Chart
Von Dez 2024 bis Jan 2025
African Min&Ex (LSE:AME)
Historical Stock Chart
Von Jan 2024 bis Jan 2025
