Drilling Programme in Oman Targeting Copper
20 September 2018
Savannah Resources Plc
Drilling Programme in Oman Targeting Copper Resource Extensions
HIGHLIGHTS:
· A 12 hole, 1,065m, drill programme underway at two prospective deposits - Bayda and Hara Kilab
· Targeting extensions to the existing mineralisation and to build upon current resources in line with strategy to feed a hub and spoke mine development
o Awaiting anticipated decisions for Mining Lease applications for Mahab 4 and Maqail South
· Bayda: a two hole diamond drill programme, totalling 560m, to test the area immediately below the historical intersection of 12.5m at 2.9% Cu from 185m (OMCO 32-141) in an interpreted mineralised envelope potentially up to 50m wide
· Hara Kilab: a 10 hole, 515m drill programme has been designed to convert the current mineralisation into a Mineral Resource Estimate and target potential extensions both along strike and down dip of the existing mineralisation, including a historical drill hole which intersected 9.15m @ 2.78% Cu and 0.39% Zn (11-4)
· Drilling is expected to be completed in Q4 2018
Savannah Resources plc (AIM: SAV, FWB: AFM and SWB: SAV) ('Savannah' or the 'Company'), announces that a diamond drilling programme has commenced at both the Bayda (Block 4) and Hara Kilab (Block 5) deposits in the Sultanate of Oman. Savannah is earning a 65% shareholding in the Omani company, Al Thuraya LLC, the owner of the Block 4 Project and is a 65% shareholder in Al Fairuz Mining, the holder of the Block 5 licence. To view the press release with the illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/3276B_1-2018-9-19.pdf
Savannah's CEO, David Archer said: "As we move closer to the anticipated grant of Mining Leases over both the Mahab 4 and Maqail South copper deposits, we are looking at defining further Mineral Resources that could provide supplemently feed to a hub and spoke mine development centered around the copper deposits located on Blocks 4 and 5. The current programme is focussing on two of the more promising deposits that, to date, have received only limited contemporary drill testing."
Figure 1. Location Map showing the position of Block 4 and 5 relative to other projects and infrastructure
Bayda
The previously producing Bayda Mine is located on Block 4, just to the north west of the larger Aarja deposit and was mined by OMCO between 1982 and 1993 producing 1Mt @ 3%Cu of ore from a small underground operation. Much of the old underground development has collapsed, but a relatively complete set of historical data from previous exploration and mining has been collated, which has identified the potential for additional mineralisation adjacent to and below the historical mine workings. The mineralisation at Bayda is typical of most other mineralsation in the area, being a VMS deposit on the contact between the Geotimes and Lasail rock units.
An underground drill hole drilled to the east of the mine workings completed by OMCO, 32-141, intersected 12.5m @ 2.9%Cu from185m (OMCO 32-141) below surface together with a series of supporting holes suggest the potential for a broad zone of dipping mineralisation (Figure 2).
A two hole diamond drill programme totalling 560m has been proposed to test the area immediately below the intersection from OMCO 32-141 in an interpreted mineralised envelope potentially up to 50m wide.
Figure 2. Simplified Geological Cross Section through the Bayda Deposit showing the Planned Drilling
Figure 3. Diamond Drill rig on site at Bayda
Hara Kilab
The Hara Kilab deposit on Block 5 was first explored by Prospection in the 1970's and then by JICA (Japan International Cooperation Agency) and Gentor targeting a well exposed gossan (Figure 4-5). Hara Kilab is defined by a 150m by 50m gossan that is visible at surface with several slag dumps existing in the immediate area, indicating mining in ancient times. The prospect has had a variety of exploration testing in the past, including detailed mapping, grab sampling, ground geophysics and drilling. The best reported intersection at Hara Kilab is 9.15m @ 2.78% Cu and 0.39% Zn in Hole 11-4, drilled by Prospection Ltd.
A 10 hole, 515m drill programme has been planned to convert the current zone of mineralisation into a Mineral Resource Estimate and target potential expansions both along strike and down dip of the existing mineralisation.
Figure 4. Hara Kilab Resource Outline - Plan View
Figure 5. Photograph of the Hara Kilab Prospect Area
Regulatory Information Competent Persons
The information in this announcement 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 Australasian 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.
This Announcement contains inside information for the purposes of Article 7 of the Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.savannahresources.com or contact:
|
David Archer |
Savannah Resources plc |
Tel: +44 20 7117 2489 |
|
David Hignell / Dugald J. Carlean (Nominated Adviser) |
Northland Capital Partners Ltd |
Tel: +44 20 3861 6625 |
|
Christopher Raggett / Camille Gochez (Broker) |
finnCap Ltd |
Tel: +44 20 7220 0500 |
|
Grant Barker (Equity Adviser) |
Whitman Howard |
Tel: +44 020 7659 1225 |
|
Charlotte Page / Lottie Wadham (Financial PR) |
St Brides Partners Ltd |
Tel: +44 20 7236 1177 |
About Savannah
Savannah is a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in Portugal and copper in Oman - together with the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major Rio Tinto. The Board is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.
The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol FWB: AFM, and the Börse Stuttgart (SWB) under the ticker "SAV".
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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