Savannah Resources (SAV:AIM)
Final results for the resource drilling program at the Mahab 4 prospect in Block 5, Oman reveal high grade zones of copper.
- Mahab Resource Drilling: 14.25m@3.86% copper, 0.62% zinc and 0.22 g/t gold from 109.1m.
- Mahab 4: 67.4m@4.64% copper, 1.13% zinc and 0.3 g/t gold from 18.6m incl. 35.4m@8.3% copper, 2.1% zinc and 0.4 g/t gold.
- Maqail South: 25.63m@ 2.66% copper and 0.1 g/t gold from 49.37m.
David Archer, CEO commented: “We continue to be encouraged by the broad high grade zones of copper mineralisation at both the Mahab 4 and Maqail South deposits. To further advance the mining studies around a potential mine development for late 2017, drilling is now underway at the Aarja prospect targeting the Dog’s Bone zone.”
There is the potential to extend the high grade portion of the current indicated and inferred mineral resource of 1.7Mt@2.2% copper; an updated estimate is expected Q4 2016. A new 600m diamond drill programme at Dog’s Bone lens is now underway with the goal of establishing a JORC compliant mineral resource estimate.