Savannah locate Heavy Mineral Sands in Mozambique

PUBLISHED: 21 Sep 2014 @ 10:43 | Comments (3) |

Significant Zones of Higher Grade Heavy Mineral Sands Identified at Jangamo Project, Mozambique

Savannah Resources plc (AIM:SAV) has said that it has now received the analysis results from the 3,990m scout drilling programme detailed in the 2 July 2014 RNS at its highly prospective, 180km² Jangamo heavy mineral sands project, located in a world-class mineral sands province in southern Mozambique.

Highlights:

· Drilling confirmed five significant HMS mineralised zones within the Project area with the potential for higher grade HMS mineralisation ranging from 2 to 15km in strike length

· Better results include:

o 33m at 5.9% HMS from surface including 12m at 9.2% HMS

o 33m at 5.1% HMS from surface including 12m at 7% HMS

· Drilling results highlight higher grade HMS mineralisation with a peak result from one 3m composite of 10.3% HMS

· Significantly much of the higher grade HMS mineralisation commences from surface

· Additional scout drilling is now underway targeting the 15km western strandline target and a grid drill out of the four eastern higher grade HMS zones

· On track to define a potential JORC Mineral Resource in late 2014

Savannah’s CEO, David Archer said, “We are delighted with the results which meet our expectations – we’re seeing very good grades of thick, near surface HMS mineralisation over excellent strike lengths.

“Drilling has already started on a major, 15km strandline in the western part of the Project area which is the longest combined airmagnetic and radiometric anomaly and remains largely untested. This will be followed by a drill-out of four discrete HMS zones identified in the east of the Project area which are shaping up to host a potential Mineral Resource.

“Although Jangamo is a large system, we are focused on defining a higher grade project that has superior economic characteristics for the development of a profitable mining operation with modest capital costs. Much of the mineralisation we are seeing in the four eastern zones is from surface which brings significant economic benefits from low stripping ratios and the potential for more flexible dry mining techniques. This complements the favourable local infrastructure setting that benefits from nearby roads, power and a port.

“We remain on track to define a potential JORC compliant Mineral Resource by the end of 2014.”

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.