Business
Gravity Surveys Completed in Oman
Gravity Surveys Completed in Oman.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 3139Z Savannah Resources PLC 26 May 2016 \n\n \nSavannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining\n \n26 May 2016\n \nSavannah Resources Plc\nTargeted Gravity Surveys Completed over a Series of High Priority Copper Prospects\n \nSavannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, announces that it has completed three targeted gravity surveys on its 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.\n \nHIGHLIGHTS:\n \n· A gravity survey has been completed over VTEM 13 (Zuha prospect, Block 4), Ghayth (Block 4 ) and Sarami West (Block 5) prospects \n· These three high priority exploration areas cover a total of 12 Electromagnetic (EM) conductors identified by Versatile Time Domain Electromagnetic ('VTEM') (airborne EM) and ground EM surveys\n· All three areas were drill tested during 2015 and contained encouraging alteration systems suggesting proximity to volcanogenic massive sulphide ('VMS') mineralisation\n· Gravity surveying is a proven tool in VMS exploration, responsible for many discoveries and; results of these gravity surveys, expected in June, will further refine drill targets\n· The two stage 2,080m drill programme1, targeting a resource upgrade, is continuing as planned at the Maqail South and Mahab 4 prospects in Block 5 and the Dog's Bone (part of the Aarja Mine) and Bayda Prospects in Block 4\n \nDavid Archer, Savannah's Chief Executive Officer said \"We are continuing to accelerate activity in Oman; with our two stage drill programme now well underway at the Aarja Mine in Block 4 and the completion of a gravity survey over three VMS targets on Blocks 4 and 5. We continue to target commercial production in late 2017.\n \n\"The gravity surveys provide another layer of information to assist in the discovery of VMS orebodies in this highly prospective region. The three areas surveyed exhibit excellent geological and geophysical characteristics that make ...