Business
Drilling Update at Jangamo
Drilling Update at Jangamo.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5637R Savannah Resources PLC 29 October 2013 \n\n \n29 October 2013\nSavannah Resources Plc (\"Savannah\", \"SAV\" or \"the Company\")\nDrilling underway at Jangamo\n \nSavannah Resources plc (AIM: SAV), the AIM listed exploration company, announces that it has commenced an initial drilling programme at the Company's 80% owned 180 sq km Jangamo heavy mineral sands project ('Jangamo' or the 'the Project'), located in a world-class mineral sands province in southern Mozambique. To view the press release with the illustrative map and drilling programme photograph, please use the following link: \n \nhttp://www.rns-pdf.londonstockexchange.com/rns/5637R_-2013-10-28.pdf\n \nHighlights:\n· Commenced 2,000m, reverse circulation ('RC') drilling programme to further define prospectivity of Jangamo and test key dunal systems within project area\n· Previous regional scout sampling conducted by Savannah returned results up to 18.1% total heavy minerals ('RC'), with ilmenite, rutile and zircon recorded in the mineral concentrate\n· Project is adjacent to Rio Tinto's major Mutamba1 mineral sands deposit, which along with another licence area in Mozambique, have an exploration target of 7-12 billion tonnes at 3-4.5% THM\n· Agua Terra, which has extensive experience in the Jangamo locality, has been contracted to complete this initial drill programme\n \nSavannah's CEO, David Archer, said \"This is a highly exciting time for the Company as we embark on our maiden drilling campaign at our flagship Jangamo project. The programme has been designed to test the prospectivity of the three main morphological zones identified and test key dunal systems which are thought to be prospective for mineral sands. We believe that the Project has the potential to generate significant value for the Company and its shareholders and look forward to reporting on this drilling programme and results in due course.''\n \nDrilling Programme Underway\nThe Project is covered by a series of north-east trending Quaternary dunal and fluvial deposits, many of which have confirmed heavy mineral mineralisation from surrounding explorers. The area has three morphological zones, composed of two inland dunes (red sands) which are the highest area...