Savannah Resources has now received further results from the ongoing drill programme over its highly prospective Block 4 and 5 properties in the Sultanate of Oman, which are prospective for copper and gold.
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.
- A further six drill holes for a total of 608m have been completed and assayed
- Broad high grade zones of copper intersected at both Mahab 4 and Maqail South in Block 5
- Mahab 4: 16B5DD012, 15.18m at 4.02% copper and 0.2g/t gold from 62.50m
- Maqail South: 16B5DD001, 25.63m at 2.66% copper and 0.1g/t gold from 49.37m; 16B5DD001A, 20.55m at 3.09% copper and 0.1g/t gold from 48.95m
- New results point towards a potential expansion of the current high grade portions of both the Mahab 4 and Maqail South resources, which have a current Indicated and Inferred Mineral Resource of 1.7Mt at 2.2% copper
- Highest individual assays of 23.47% copper over 0.4m from 56.95m (16B5DD003) and 7.60% zinc (not same sample)
- Additional drilling at Bayda in Block 4 suggests a larger tonnage, lower grade deposit target
- Drilling intersected a broad mineralised zone with 33.4m at 0.69% copper and 0.1g/t gold in 16B4DD003 from 87m, including 4m at 1.56% copper and 5.1m at 1.22% copper
- Drilling is ongoing and expected to be completed before the end of Q3 2016
- An updated Mineral Resource for both Maqail and Mahab 4 will be released in Q4 2016
- Drilling will also assist the completion of initial geotechnical and metallurgical testwork for both Blocks 4 and 5, which will feed into feasibility studies and ultimately Ore Reserves as the Company continues to target production in late-2017