Business
Resource Drilling Underway in Oman
Resource Drilling Underway in Oman.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 9878X Savannah Resources PLC 12 May 2016 \n\n \nSavannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining\n \n12 May 2016\n \nSavannah Resources Plc\nResource Drilling Underway in Oman Targeting High-Grade and Disseminated Copper Mineralisation\n \nSavannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, announces that it has commenced the next round of drilling 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. To view the press release with the illustrative maps and diagrams please use the following link: \nhttp://www.rns-pdf.londonstockexchange.com/rns/9878X_-2016-5-11.pdf\n \n \nHIGHLIGHTS:\n· Two stage 2,930m diamond drill programme underway at the Maqail South and Mahab 4 prospects in Block 5 and the Dog's Bone and Bayda Prospects in Block 4\n· Targeting to increase resource potential and upgrade current resource classification to establish Measured Resources at Maqail South and Mahab 4, which have a current Indicated and Inferred Mineral Resource of 1.7Mt at a grade of 2.2% copper\n· Aiming to further define the resource potential at Dog's Bone (which is part of the Aarja target) and Bayda, which were part of previously producing copper mines - reviews of historic data have identified that a significant volume of disseminated sulphide mineralisation remains at Bayda whilst high-grade mineralisation including 9m at a grade of 4.86% copper has been identified at Dog's Bone\n· Drilling will also assist the completion of initial geotechnical and metallurgical test work at both Block 4 and 5, which will feed into feasibility studies and ultimately Ore Reserves as the Company continues to target production in late-2017\n \nDavid Archer, Savannah's Chief Executive Officer said today \"This drill campaign represents another significant step forward in advancing our copper/gold portfolio in Oman. With a current Indicated and Inferred Mineral Resource of 1.7Mt at a grade of 2.2% co...