Savannah Resources (LON:SAV) has completed a scout drilling programme at its highly prospective Jangamo heavy mineral sands (HMS) project in the southern part of Mozambique.
The programme targeted eastern and western dune systems, and after 96 holes were drilled visual estimations suggested that drilling so far has defined six major anomalous zones within the project area; however, it is important to note that the visual estimates will need to be confirmed by assaying. The company said drill samples have been sent for analysis, the results of which are expected in a few weeks.
Meanwhile, further analysis based on the recently acquired airborne magnetic data suggests in excess of 20 significant, multi-kilometre long strandlines could be present within the highly prospective eastern and western dune systems.
The boffins are still poring over the data and expect to complete their deliberations before the end of this month.
"With our second scout drilling programme at Jangamo now complete we are pleased to report that these fast-paced and well-executed exploration programmes mean we remain on target to define a potential maiden, JORC-compliant mineral resource by the end of 2014. The lead up to this will be a close spaced grid drilling programme scheduled to start in August,” said Savannah’s chief executive officer, David Archer.
The company said the next steps for the project are: finalisation of airborne magnetics processing and interpretation; completion of drill sample assaying; detailed grid drilling and assaying; and the potential delineation of a JORC-compliant mineral resource.
Savannah is currently on track to deliver all these outcomes during the 2014 exploration programme.