Airborne VTEM and Magnetic Survey Completed
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
15 April 2015
Savannah Resources Plc
Airborne VTEM and Magnetic Survey Completed over Block 4 Copper-Gold Project, Semail Ophiolite Belt, Oman
Savannah Resources plc (AIM: SAV) ('Savannah' or the 'Company') advises that a Versatile Time Domain Electromagnetics ('VTEM') and airborne magnetic survey over the Company's Block 4 copper-gold project in Oman (Savannah earning 65%), utilised for identifying new copper deposits, has been completed. To view the press release with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1954K_-2015-4-14.pdf
OVERVIEW:
· A 3,667 line km VTEM and airborne magnetic survey over the majority of Block 4 has been completed
· Proven regional success with VTEM survey - in 2009 in neighbouring Blocks 1 and 2 (owned by Mawarid Mining LLC), a VTEM survey identified conductive anomalies with no surface outcrop leading to the discovery of over 11Mt of new copper mineralisation
· Processing, interpretation and targeting of the new VTEM data is expected to take around six weeks to complete
· Intention to build upon existing Mineral Resource inventory of 1.7Mt @ 2.2% copper at Savannah's Block 5 in Oman
Savannah's CEO, David Archer said, "The completion of the airborne VTEM and magnetic surveys are key milestones in the Block 4 exploration program as we continue to unlock the value potential of our Oman copper-gold projects. Block 4 has not, until now, been covered by VTEM which has been so successful in identifying new copper deposits in nearby blocks over the past 10 years, and we see this as a significant opportunity to quickly build on the existing 1.7Mt @ 2.2% copper Mineral Resource inventory we have in Oman.
"Importantly, the region has been a prolific producer of copper from both open-cut and underground mines at Aarja, Bayda, Lasail and Lasail West with reported contained copper, both mined and unmined, of approximately 238,840 tonnes. This strong history of production in the immediate area supports the excellent potential for the discovery of further VMS deposits within Block 4 as this style of deposit is known to occur in clusters or camps.
"Once the new VTEM and magnetic data have been processed it will be integrated with geology, ground geophysics and geochemistry to define target copper areas for field reconnaissance and targeting of drill holes to test the high priority targets for VMS mineralisation."
VTEM Survey
The 3,667 line km survey was conducted by Geotech Airborne Limited utilising their helicopter-borne geophysical system which collects both VTEM and magnetics and has been successful in identifying targets which have later developed into mines in the northern part of the Semail Ophiolite Belt of Oman.
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 Adviser) Charlie Cryer (Corporate Broker) |
RFC Ambrian Limited |
Tel: +44 20 3440 6800 |
|
Felicity Winkles/ Charlotte Heap |
St Brides Partners Ltd |
Tel: +44 20 7236 1177 |
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, exploration and development company.
It has an 80% 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, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper 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.
This information is provided by RNS
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