18:00 Mon 09 Dec 2019
Savannah Resources - Mining Concession Issued for the Mutamba Project
Mining Concession Issued for the
To view the announcement with the illustrative maps and diagrams, please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1258W_1-2019-12-8.pdf
Highlights
· Licence 9735C issued, covering 11,948 hectares ('ha') and valid to April 2044, with the possibility of an additional 25-year extension
· Licence 9735C is part of Mutamba, which contains an Indicated and Inferred Mineral Resource of 4.4Bt, grading 3.9% total heavy minerals
· Licence 9735C is the first of three contiguous concessions to be issued that will result in the full tenement permitting of Mutamba
· The Concession is close to the
"Our focus is now on progressing the Pre-Feasibility Study ('PFS') at Mutamba towards completion, which, upon delivery, will trigger the increase in our interest in the Project from 20% to 35%. I look forward to updating our shareholders with further developments in due course."
Further Information:
Savannah is the operator of Mutamba, which is held in joint venture with Rio Tinto. Savannah currently holds a 20% interest in the Project but can increase this to 35% upon delivery of the PFS, which is currently underway, and ultimately to 51% upon delivery of a Feasibility Study ('FS').
The Project contains an Indicated and Inferred Mineral Resource of 4.4Bt, grading 3.9% total heavy minerals. It consists of four concessions, including Licence 9735C, which has now been issued with a mining licence valid to
The mining concessions are well served by road and air transport and are situated near the
Table 1.
Mining Concession Number |
Mining Concession Name |
Area in Hectares |
Area in Sq. Kilometres - km2 |
Expiry Date |
Status |
9735C |
Jangamo Matilda |
11,948 |
119.48 |
|
Licence Issued |
9228C |
Jangamo Rio |
11,807 |
118.07 |
|
Conditionally Awarded |
9229C |
Dongane |
16,126 |
161.26 |
|
Conditionally Awarded |
9230C |
Chilubane |
13,797 |
137.97 |
- |
Under Consideration |
Figure 1. Map of the Mutamba Project Area
Competent Person and Regulatory Information
The information in this announcement that relates to exploration results is based upon information compiled by Mr.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.savannahresources.com or contact:
|
|
Tel: +44 20 7117 2489 |
Bouverat (Nominated Adviser) |
|
Tel: +44 20 3470 0470 |
|
finnCap Ltd |
Tel: +44 20 7220 0500 |
|
|
Tel: +44 20 7659 1225 |
Akerman (Financial PR) |
|
Tel: +44 20 7236 1177 |
About Savannah
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