Business
Update re Alecto
Update re Alecto.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0933T Savannah Resources PLC 14 November 2013 \n\n \n \n \n14 November 2013\n \nSavannah Resources Plc\nAlecto's Kossanto Gold Project Update\n \nSavannah Resources plc (AIM: SAV), advises that its effective1 25.6% owned Alecto Minerals Plc has released an exploration update for its 100% owned, 270 km² Kossanto Gold Project in western Mali which underscores the high prospectivity of the Project. To view the press release with the illustrations, please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/0933T_-2013-11-14.pdf\n \nHighlights\n· New, intensive artisanal workings have highlighted a previously unidentified zone of gold mineralisation in the southern part of Alecto's Massakama prospect at Kossanto\n· Both coarse and fine grained gold being mined from hard rock, quartz vein occurrences with finer a system of finer stockwork quartz veins also observed\n· New zone at Massakama is co-incident with a 2kms x 1km zone of gold geochemical anomalism\n· Regionally favourable structural setting for the discovery of major gold deposits being located on a splay of the significant Main Transcurrent Shear Zone which is a major transcrustal dislocation\n \nDavid Archer, the Chief Executive Officer of Savannah said today \"Kossanto has many of the hallmarks you'd like to see for a potential major gold discovery. It sits in a major crustal shear zone, there is extensive gold mineralisation within the tenement and the presence of felsic intrusives is an important feature of many of the multi-million ounce gold deposits in the region''.\n \nAlecto's full announcement is included in the notes to this announcement.\n \nNotes\n1 \"Effective\" shareholding is based on the 121,739,133 shares held in Alecto plus a convertible loan note over 30,434,783 shares\n \n**ENDS**\n \nFor further information please visit www.savannahresources.com or contact:\n\n\n\n\nDavid Archer\n\n\nSavannah Resources plc\n\n\nTel: +44 (0)774 777 7911\n\n\n\n\nJames Maxwell / Jenny Wyllie\n\n\nN+1 Singer\n\n\nTel: +44 (0)20 7496 3000\n\n\n\n\nFelicity Edwards/ Charlotte Heap\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: +44 (0)20 7236 1177\n\n\n\n\n \nNotes\nAbout Savannah\nSavannah Resour...