Result of General Meeting

RNS Number : 4766F

Savannah Resources PLC

24 April 2014

 



24 April 2014

Savannah Resources Plc

Results of General Meeting

Savannah Resources plc (AIM: SAV), announces that at the general meeting of the Company held today, all resolutions put to the meeting were duly passed.

**ENDS**

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

David Archer	Savannah Resources Plc	Tel: [phone]
James Maxwell / Jennifer Boorer	N+1 Singer	Tel: [phone]
Felicity Edwards/ Charlotte Heap	St Brides Media & Finance Ltd	Tel: [phone]

About Savannah

Savannah Resources Plc (AIM: SAV) is a multi-commodity focussed exploration and development company. Through its 80% ownership of Matilda Minerals Limitada it operates the Jangamo exploration project in a world class mineral sands province in Mozambique.  This borders Rio Tinto's Mutamba deposit, one of two major deposits Rio Tinto has defined in Mozambique, which collectively have an exploration target of 7-12Bt at 3-4.5% THM¹ (published in 2008).

In addition, Savannah owns an effective 20.9% strategic shareholding in Alecto Minerals Plc which provides Savannah with exposure to both the highly prospective Kossanto Gold Project in the prolific Kenieba inlier in Mali and also to the Wayu Boda and Aysid Meketel gold / base metal projects in Ethiopia for which Alecto has a joint venture with Centamin Plc.  Under this joint venture, Centamin Plc is committing up to US$14m in exploration funding to earn up to 70% of each project.  The Company is also evaluating additional opportunities to expand its portfolio and geographical focus.

Savannah holds two copper projects in the Semail Ophiolite (Oman), the world's largest and best preserved thrust sheet of oceanic crust and upper mantle, provides Savannah with an excellent opportunity to potentially evolve into a mid-tier copper producer in a relatively short time frame.  Small to medium sized Cyprus-type Cu-Au VHMS deposits have been worked in the Semail Ophiolite since ancient times. Modern exploration has identified many small to medium sized high grade copper deposits within the belt which as yet have not been brought into production. Together with its Omani partners Savannah will look for ways to aggregate and explore as many of these opportunities as possible with a view to providing the critical mass for a central operating plant to develop the deposits.

 

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