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
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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 Awaitinganticipateddecisions for Mining Leaseapplications for Mahab4 and Maqail South
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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
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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)
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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.
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."
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
For further information please visit www.savannahresources.com or contact:
David Archer
David Hignell / Dugald J. Carlean
(Nominated Adviser) Christopher Raggett / Camille Gochez (Broker)
Grant Barker (Equity Adviser) Charlotte Page / Lottie Wadham (Financial PR)
About Savannah
Savannah Resources plc Northland Capital Partners Ltd
finnCap Ltd
Whitman Howard
St Brides Partners Ltd
Tel: +44 20 7117 2489 Tel: +44 20 3861 6625
Tel: +44 20 7220 0500
Tel: +44 020 7659 1225 Tel: +44 20 7236 1177
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".