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Exploration Update - Jangamo Project
Exploration Update - Jangamo Project.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3117J Savannah Resources PLC 11 June 2014 \n \n\nSavannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining\n11 June 2014\nSavannah Resources Plc\nExploration Update - Jangamo Project\n \nSavannah Resources plc (AIM: SAV) announces that it has completed over 2,000m of the planned 4,000m scout drilling programme at its highly prospective 180km² Jangamo heavy mineral sands project ('Jangamo' or the 'the Project'), located in a world-class mineral sands province in southern Mozambique. To view the release with the illustrative map please use the following link: \nhttp://www.rns-pdf.londonstockexchange.com/rns/3117J_-2014-6-10.pdf\n \nHighlights:\n· Visual Heavy Mineral Sands ('HMS') mineralisation identified in many of the holes of the scout drilling programme to date suggesting the potential to outline a major HMS deposit \n· First batch of samples to be dispatched this week with results expected in 4-6 weeks\n· Commenced a heliborne magnetic and radiometric survey with results expected towards the end of June 2014\n· Positive results from the recent ground magnetic survey shows that it is possible to detect the geophysical signature of the HMS deposits using an airborne platform\n· World class province - Jangamo is adjacent to Rio Tinto's major Mutamba1 mineral sands deposit which, along with another licence area in Mozambique, has an exploration target of 7-12 billion tonnes at 3-4.5% THM\n \nSavannah's CEO, David Archer said, \"The visual HMS mineralisation identified so far in the 4,000m drilling programme is highly encouraging and we look forward to reporting on first assay results expected in the next 4-6 weeks. In addition, the low level airborne magnetic and radiometric survey is now underway, which will provide us with a better understanding of the prospective dune system and potential additional drill targets. The Project is now poised for further positive results as our 2014 exploration programme is rolled out and we work towards defining a maiden JORC compliant resource towards the end of the year.\"\n \nScout Drilling Programme \n \nThe Project is covered by a series of north-east trending Quaternary dunal and fluvial deposits, many of which have confirmed HM...