logo-loader
viewSavannah Resources PLC

Savannah Resources happy with copper grades in Oman

A total of six diamond drill holes have been completed so far

picture of drill core
Copper was indicated in first two assays

The latest drill programme at Block 4 and 5 in Oman has returned encouraging copper grades so far said Savannah Resources (LON:SAV).

A total of six diamond drill holes have been completed  three at Maqail South (in Block 5)  and on Block 4 one at the Dog's Bone and two at Bayda.

Results have come back for two.

A first hole at Maqail South intercepted 2m at 6.84% copper and 0.3g/t gold from a depth 47.5m.

At Dogs Bone, on the Arja target, the intercept was 5.75m at 1.84% copper and 0.8g/t gold from 109.3m.

Savannah added it will revise it geological interpretation of Dog's Bone and Aarja to allow for further targeting of depth extensions.

Drilling at another target Mahab 4 is scheduled to commence within the next week having been delayed by technical issues and Ramadan.

Savannah has scheduled an updated resource statement for both Maqail South and Mahab 4 by the end of the year with the aim still to start production from production from Blocks 4 and 5 by  late-2017

 David Archer, chief executive, added: "While the drilling has been slower than expected, excellent results are coming from both the Aarja and Maqail South targets.

“Aarja is shaping up as a moderate-grade, underground deposit that can be readily accessed via the existing portal and decline while Maqail South is being validated as a very attractive, high-grade copper deposit readily mineable via open-cut methods. “

Quick facts: Savannah Resources PLC

Price: 2.15 GBX

AIM:SAV
Market: AIM
Market Cap: £27.9 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Savannah Resources PLC named herein, including the promotion by the Company of Savannah Resources PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Savannah Resources’ Grandao lithium deposit ‘continues to grow’

David Archer, chief executive of Savannah Resources Plc (LON:SAV), tells Proactive Investors they're seeing continued encouraging results from their ongoing reverse circulation and diamond drill programme at the Mina do Barroso project in Portugal. He says they've identified 'significant...

on 26/7/18

2 min read