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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Savannah Resources Plc | AQSE:SAV.GB | Aquis Stock Exchange | Ordinary Share | GB00B647W791 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.35 | 3.20 | 3.50 | 3.35 | 3.35 | 3.35 | 0.00 | 07:01:06 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSAV
RNS Number : 4572J
Savannah Resources PLC
12 September 2016
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
12 September 2016
Savannah Resources Plc
High Grade Copper Intersected in Oman - Resource Drilling Update
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, announces that it has now received further results from the ongoing drill programme 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:
http://www.rns-pdf.londonstockexchange.com/rns/4572J_-2016-9-9.pdf
HIGHLIGHTS:
-- A further six drill holes for a total of 608m have been completed and assayed -- Broad high grade zones of copper intersected at both Mahab 4 and Maqail South in Block 5:
o Mahab 4
-- 16B5DD012, 15.18m at 4.02% copper and 0.2g/t gold from 62.50m
o Maqail South
-- 16B5DD001, 25.63m at 2.66% copper and 0.1g/t gold from 49.37m
-- 16B5DD001A, 20.55m at 3.09% copper and 0.1g/t gold from 48.95m
-- New results point towards a potential expansion of the current high grade portions of both the Mahab 4 and Maqail South resources, which have a current Indicated and Inferred Mineral Resource of 1.7Mt at 2.2% copper
-- Highest individual assays of 23.47% copper over 0.4m from 56.95m (16B5DD003) and 7.60% zinc (not same sample)
-- Additional drilling at Bayda in Block 4 suggests a larger tonnage, lower grade deposit target
o Drilling intersected a broad mineralised zone with 33.4m at 0.69% copper and 0.1g/t gold in 16B4DD003 from 87m, including 4m at 1.56% copper and 5.1m at 1.22% copper
-- Drilling is ongoing and expected to be completed before the end of Q3 2016 -- An updated Mineral Resource for both Maqail and Mahab 4 will be released in Q4 2016
-- Drilling will also assist the completion of initial geotechnical and metallurgical testwork for both Blocks 4 and 5, which will feed into feasibility studies and ultimately Ore Reserves as the Company continues to target production in late-2017
David Archer, Savannah's Chief Executive Officer said today "The broad, high grade copper intersections outlined by the drilling underscore the very appealing, early development potential of the Block 4 and 5 licences in Oman. The Mahab 4 and Maqail South deposits in Block 5 already have a current Indicated and Inferred Mineral Resource of 1.7Mt at 2.2% copper and these recent drill results further underpin our confidence in their potential.
"The drilling is part of a wider set of preliminary studies being undertaken, with the intention that a central processing facility can be established to support the development of multiple, geocentric deposits. A broad, lower grade copper intersection was drilled at Bayda in Block 4, with the results consistent with our understanding of this deposit. We will continue to target this deposit as a potential larger tonnage, lower grade deposit alongside the higher grade Block 5 targets, as we continue to target production in late-2017."
Figure 1. Location Map showing Position of Proposed Drilling - see PDF link
DRILLING PROGRAMME UPDATE
The introduction of a third drilling rig has seen a significant improvement in the drill rate of the resource definition programme on Block 4 and Block 5. To date the following holes have been completed and are summarised in Table 1.
-- Mahab 4: One drill hole 16B4DD012 (81m) completed and assayed.
-- Maqail South: Three drill holes 16B5DD001 (93m). 16B5DD001A (73m) and 16B5DD003 (72m) completed and assayed.
-- Bayda: Two drill holes 16B4DD002 (139m) and 16B4DD003 (150m) completed and assayed.
Table 1. Drill Hole Collar and Significant Drill Intercept Summary Table
Hot Features
Premium
rL From To Down
Hole ID Prospect Northing Easting Azimuth Dip EOH (m) (m) hole Grade Grade Grade Grade
Interval % % g/t g/t
(Deg) (Deg) (m) (m) Cu Zn Au Ag
Maqail
*16B5DD001 South 2661240.0 453578.0 403.0 276 -54 93.00 49.37 75.00 25.63 2.66 0.02 0.1 1
------------- ------------ ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
Maqail
*16B5DD001A South 2661240.0 453578.0 403.0 276 -54 75.00 48.95 68.50 20.55 3.09 0.00 0.1 3
------------- ------------ ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
Maqail
16B5DD002 South 2661240.0 453578.0 403.0 314 -55 81.50 47.50 49.50 2.00 6.84 0.02 0.3 5
------------- ------------ ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
Maqail
*16B5DD003 South 2661240.0 453578.0 403.0 135 -80 72.80 56.00 57.35 1.35 7.86 0.00 0.0 4
------------- ------------ ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
including 56.95 57.35 0.40 23.47 0.00 0.1 14
-------------------------- ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
Maqail
16B5DD004 South 2661278.0 453520.0 390.0 180 -75 Hole in Progress
------------- ------------ ---------- --------- ------ -------- ------ ------ -----------------------------------------------------------
Maqail
16B5DD005 South 2661210.0 453553.0 407.0 23 -72 Assays Pending
------------- ------------ ---------- --------- ------ -------- ------ ------ -----------------------------------------------------------
Maqail
16B5DD006 South 2661210.0 453553.0 407.0 259 -71 Assays Pending
------------- ------------ ---------- --------- ------ -------- ------ ------ -----------------------------------------------------------
Maqail
16B5DD007 South 2661230.0 453530.0 412.0 261 -70 Assays Pending
Dogs
16B4DD001 Bone/Aarja 2692584.0 440376.0 225.0 342 -72 261 109.30 115.10 5.75 1.84 0.09 0.8 8
------------- ------------ ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
131.12 133.60 2.51 2.62 0.07 1.0 6
-------------------------- ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
*16B4DD002 Bayda 2694175.0 441040.0 226.0 270 -74 139 45.00 47.00 2.00 0.49 0.00 0.0 0
------------- ------------ ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
72.00 76.00 4.00 0.50 0.00 0.0 0
------- ------- --------- ------ ------ ------ ------
105.90 109.00 3.10 0.51 0.00 0.0 0
------- ------- --------- ------ ------ ------ ------
*16B4DD003 Bayda 2694275.0 440997.0 223.0 0 -90 150 87.00 120.40 33.40 0.69 0.00 0.1 1
------- ------- --------- ------ ------ ------ ------
including 101.00 105.00 4.00 1.56 0.15 0.5 3
-------------------------- ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
including 111.90 117.00 5.10 1.22 0.00 0.1 1
-------------------------- ---------- --------- ------ -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD008 4 2656070.0 468769.0 218.0 256 -60 Assays Pending
-----------------------------------------------------------
Mahab
16B5DD009 4 2656070.0 468769.0 218.0 256 -68 Assays Pending
-----------------------------------------------------------
Mahab
16B5DD010 4 2656125.0 468767.0 221.0 256 -53 Hole in Progress
-----------------------------------------------------------
Mahab
16B5DD012 4 2656216.0 468700.0 251.0 103 -55 81 57.50 59.40 1.90 4.39 7.60 0.52 37
------- ------- --------- ------ ------ ------ ------
62.50 77.68 15.18 4.02 1.00 0.2 12
------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD013 4 2656216.0 468700.0 251.0 103 -62 Assays Pending
-----------------------------------------------------------
Mahab
16B5DD015 4 2656216.0 468700.0 251.0 51 -60 Assays Pending
-----------------------------------------------------------
Mahab
16B5DD017 4 2656305.0 468760.0 220.0 256 -63 Hole in Progress
-----------------------------------------------------------
Mahab
16B5DD018 4 2656202.0 468639.0 238.0 113 -25 To be Completed
------------- ------------ ---------- --------- ------ -------- ------ ------ -----------------------------------------------------------
-- New results highlighted in bold and marked with a *
-- Full details can be found in the JORC Table 1 attached
Mahab 4
Drilling at Mahab 4 is targeting an expansion of the high grade portion and an upgrade of the current resource classification to establish Indicated and Measured Resources, which can be used as part of the ongoing financial evaluations of the project. The results from the first completed hole (16B5DD012) have been very encouraging returning results of 1.9m at 4.39% copper, 7.6% zinc and 0.52g/t gold from 59.40m, and 15.18m at 4.02% copper and 0.2g/t gold from 62.50m.
Figure 2. Diamond drill core from 16B5DD012 showing the massive sulphide zone - see PDF link
Figure 3. Mahab 4 - Vertical Long Section showing new drilling targeting the high grade portion of the resource - see PDF link
Maqail South
Maqail South has an Inferred Mineral Resource of 0.16Mt at a grade of 3.8% Cu, which was been defined by five holes completed by Gentor Resources. Seven diamond holes for 550m are proposed (Figure 2) to infill the resource to a hole spacing of 25m centres which will allow for an Indicated Resource Classification and to continue exploration to the west where the resource remains open. Results from an additional three holes have now been received, which include:
-- 16B5DD001, 25.63m at 2.66% copper and 0.1g/t gold from 49.37m -- 16B5DD001A, 20.55m at 3.09% copper and 0.1g/t gold from 48.95m -- 16B5DD003, 1.35m at 7.86% copper from 56m
The results from 16B5DD001 and 16B5DD001A are significant as the broadest intersection returned in past drilling at Maqail South was 8.46m in GRB5D031. The mineralised intersection of 25.63m in 16B5DD001 points towards the potential for an upgrade in the high grade core of the Maqail South project, which has excellent potential as a high grade open pit opportunity.
Figure 4. Diamond drill core from 16B5DD001 showing the massive sulphide zone - see PDF link
Figure 5. Maqail South - Longitudinal Projection (Plan View) showing new drilling - see PDF link
Bayda
Bayda is a historic mining area that was mined by OMCO between 1980 and 1994 producing 1Mt at a grade of 3% Cu from a small underground operation. Two diamond drill holes were drilled to test the presence of the mineralisation and the continuity of mineralised zones of greater than 1% Cu which are at the southern end of the mineralised area.
Drilling intersected a broad mineralised zone with 33.4m at 0.69% copper and 0.1g/t gold in 16B4DD003 from 87m including 4m at 1.56% copper and 5.1m at 1.22% copper. Further work is now required to fully understand the mineralisation, with a particular focus on the higher grade zone of mineralisation below this zone which has been partially mined in the early 1990's.
Competent Person
The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson, Technical Director of Savannah Resources Limited. Mr Ferguson is a Member of the Australian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code). Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**S**
For further information please visit www.savannahresources.com or contact:
David Archer Savannah Resources plc Tel: +44 20 7117
2489
David Hignell / Gerry Beaney Northland Capital Partners Tel: +44 20 3861
(Nominated Adviser) Ltd 6625
Jon Belliss / Elliot Hance Beaufort Securities Tel: +44 20 7382
(Corporate Broker) Ltd 8300
Charlotte Heap / Lottie St Brides Partners Ltd Tel: +44 20 7236
Brocklehurst 1177
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, development company.
Savannah has agreed to acquire 100% of Matilda Minerals Limitada which currently operates the Jangamo exploration project, and has agreed with Rio Tinto to form a joint venture in Mozambique to develop the combined Mutamba/Jangamo Project. Formation of the joint venture remains subject to approval by the Ministry of Mineral Resources and Energy of the Republic of Mozambique. Jangamo has a 65Mt Inferred Mineral Resource at a grade of 4.2% total heavy minerals ("THM") at a 2.5% cut-off grade. The Mutamba, Dongane and Chilubane deposits have a combined exploration target of 7-12Bn tonnes at a grade of 3-4.5% THM (published in 2008).
Savannah has interests in three copper blocks in the highly prospective Semail Ophiolite Belt in Oman. The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt at a grade of 2.2% copper and high grade intercepts of up to 56.35m at a grade of 6.21% Cu, with additional gold upside potential, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper and gold producer in a relatively short time frame. Together with its Omani partners, Savannah aims to outline further mineral resources to provide the critical mass for a central operating plant to develop the deposits, and in December 2015 outlined exploration targets of between 10,700,000 and 29,250,000 tonnes grading between 1.4% and 2.4% copper.
APPIX 1 - Mahab 4 and Maqail South JORC 2012 Table 1
Section 1 Sampling Techniques and Data
Sampling
techniques * Nature and quality of sampling (eg cut channels, * All data at the Maqail South and Mahab 4 Prospects
random chips, or specific specialised industry has been gathered from diamond core. HQ and NQ core
standard measurement tools appropriate to the sizes have been used. Holes have been angled to
minerals under investigation, such as down hole gamma optimally intersect lithology structures.
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad
meaning of sampling. * Sampling from diamond drilling is by half core
sampling of NQ or HQ core
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any * Core is geologically logged and samples selected
measurement tools or systems used. based on geological logging. Samples are then
dispatched to Bureau Veritas in Turkey for analysis
using the following process route.
* Aspects of the determination of mineralisation that
are Material to the Public Report.
* Whole sample is dried at 85degC, Crush to 70% -10
mesh (2mm), 100% pulverize to 85%passing -200 mesh
* In cases where 'industry standard' work has been done (75 m).
this would be relatively simple (eg 'reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g * Au: 30gr Fire Assay / lead collection fusion / AAS
charge for fire assay'). In other cases more finish / 5ppb - 10ppm
explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg * Au>10ppm (& Ag if also over-limit): 30gr / fire assay
submarine nodules) may warrant disclosure of detailed fusion / GRAVIMETRIC finish
information.
* 24 Element (Mo, Cu, Zn, Ag, Ni, Co, Mn, Fe, As, Sr,
Cd, Sb, Bi, Ca,P, Cr, Mg, Al, Na K, W, Hg, S) Aqua
Regia Digest ICP-OES finish.
* Bulk density determinations are made for all samples
that are assayed, using the Archimedes method. This
measurement is completed in Oman by Savannah
employees.
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Diamond drilling used HQ2 or NQ2 sized equipment.
hammer, rotary air blast, auger, Bangka, sonic, etc) Diamond core was not orientated.
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by * Down hole surveys are completed using a single shot
what method, etc). Tropari device at approximately 30-50m intervals down
hole.
Drill sample
recovery * Method of recording and assessing core and chip * Diamond core recoveries were recorded in the drill
sample recoveries and results assessed. logs. It is unknown if a relationship exists between
sample recovery and grade.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Areas of poor recoveries were observed in some areas
and recorded in the logging.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred * In areas of poor recovery additional drilling muds
due to preferential loss/gain of fine/coarse were applied to improve recovery.
material.
Logging
* Whether core and chip samples have been geologically * All drill holes were logged for recovery, RQD,
and geotechnically logged to a level of detail to geology and structure.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Logging of recorded lithology, mineralogy,
mineralisation, weathering, colour and other features
* Whether logging is qualitative or quantitative in of the samples. Diamond core was photographed wet.
nature. Core (or costean, channel, etc) photography.
* All drill holes were logged in full.
* The total length and percentage of the relevant
intersections logged.
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * HQ and NQ core was cut in half using a core saw.
and sample half or all core taken.
preparation
* Certified reference standards, blanks and duplicates
* If non-core, whether riffled, tube sampled, rotary are routinely inserted in the sample sequence to
split, etc and whether sampled wet or dry. assess the quality of sampling and analysis.
* For all sample types, the nature, quality and * Sample sizes are considered appropriate for the style
appropriateness of the sample preparation technique. of mineralisation expected.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples.
* Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
Quality
of assay * The nature, quality and appropriateness of the * The analytical techniques used are appropriate for
data and assaying and laboratory procedures used and whether the elements and mineralization styles being explored
laboratory the technique is considered partial or total. for.
tests
* For geophysical tools, spectrometers, handheld XRF * Savannahs QAQC protocol is to industry standards with
instruments, etc, the parameters used in determining standard reference material and blanks submitted at a
the analysis including instrument make and model, minimum of 5% frequency rate.
reading times, calibrations factors applied and their
derivation, etc.
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
Verification
of sampling * The verification of significant intersections by * No independent or alternative verification of the
and assaying either independent or alternative company personnel. assays has been made
* The use of twinned holes. * No twin holes have been drilled
* Documentation of primary data, data entry procedures, * No adjustments have been made to the assay data
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
Location
of data * Accuracy and quality of surveys used to locate drill * Holes have been located using a handheld GPS unit
points holes (collar and down-hole surveys), trenches, mine using WGS84 Zone 40N co-ordinates.
workings and other locations used in Mineral Resource
estimation.
* Holes have been downhole surveyed using a Tropari
single shot device
* Specification of the grid system used.
* Detailed topographic data is available for Maqail
* Quality and adequacy of topographic control. South and Mahab 4.
* The quality of the topographic data is excellent with
elevations recorded to an accuracy of 0.1m.
Data spacing
and * Data spacing for reporting of Exploration Results. * Hole spacing is approximately 25m by 25m at Maqail
distribution South.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * Hole spacing at Mahab 4 is approximately at 25m
grade continuity appropriate for the Mineral Resource centers or less and have been designed to selectively
and Ore Reserve estimation procedure(s) and target the mineralized zone.
classifications applied.
* Data at Maqail South and Mahab 4 is sufficient to
* Whether sample compositing has been applied. establish geological and grade continuity needed for
Mineral Resource estimation. The current drilling is
infilling previously reported Mineral Resources.
Orientation
of data * Whether the orientation of sampling achieves unbiased * Drill holes are angled approximately perpendicular to
in relation sampling of possible structures and the extent to the orientation of the lithological trends.
to which this is known, considering the deposit type.
geological
structure * Orientation of the holes does not bias sampling data.
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this * Reported intervals are down hole widths and are not
should be assessed and reported if material. necessarily true widths of mineralisation.
Sample
security * The measures taken to ensure sample security. * Chain of custody is managed by Savannah. Samples are
stored on site in a locked yard. Samples are then
transported to Turkey by airfreight. Savannah
personnel have no contact with the samples once they
have been dispatched.
Audits or
reviews * The results of any audits or reviews of sampling * No audits or reviews of the sampling techniques or
techniques and data. data have been completed.
------------- ------------------------------------------------------------ -----------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Mineral
tenement * Type, reference name/number, location and ownership * The Maqail South and Mahab 4 prospects are located
and land including agreements or material issues with third with the exploration permit referred to as Block 5
tenure status parties such as joint ventures, partnerships, Savannah has a 65% interest in the Block with the
overriding royalties, native title interests, remainder being held by a local JV partner.
historical sites, wilderness or national park and
environmental settings.
* The tenement is in good standing with no known
impediment to renewal.
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a license to operate in the area.
Exploration
done by * Acknowledgment and appraisal of exploration by other * Previous exploration has been completed at Maqail
other parties parties. South and Mahab 4 by Gentor Resources between 2010 -
2012.
Geology
* Deposit type, geological setting and style of * The deposit type being tested is the Cyprus type VMS
mineralisation. model. VMS mineralisation is interpreted to have
formed on a mid ocean ridge and then emplaced as an
ophiolite on the Arabian Craton. Several examples of
this model exist in the region.
Drill hole
Information * A summary of all information material to the * The location of the drilling at Mahab 4 and Maqail
understanding of the exploration results including a South are summarised in Table 1 in the body of this
tabulation of the following information for all release.
Material drill holes:
* Previously completed holes by Gentor at Maqail South
o easting and northing of the drill hole collar are not all reported in this release.
o elevation or RL (Reduced Level - elevation
above sea level in metres) of the drill hole
collar * Not all holes completed in this program by Savannah
o dip and azimuth of the hole have been reported in this release.
o down hole length and interception depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
Data
aggregation * In reporting Exploration Results, weighting averaging * Significant intersections are based on assays greater
methods techniques, maximum and/or minimum grade truncations than 0.5% Cu and may include up to a maximum of 3.0m
(eg cutting of high grades) and cut-off grades are of internal dilution, with a minimum composite grade
usually Material and should be stated. of 0% Cu. The minimum width for an intersection is
0.2m.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade * Cu grades used for calculating significant
results, the procedure used for such aggregation intersections are uncut.
should be stated and some typical examples of such
aggregations should be shown in detail.
* Minimum and maximum diamond core sample intervals
used for intersection calculation are 0.2m and 1.2m
* The assumptions used for any reporting of metal respectively subject to location of geological
equivalent values should be clearly stated. boundaries.
* No metal equivalents are used in the intersection
calculation.
* Where core loss occurs; the average length weighted
grade of the two adjacent samples are attributed to
the interval for the purpose of calculating the
intersection. The maximum interval of missing core
which can be incorporated with the reported
intersection is 1m.
Relationship
between * These relationships are particularly important in the * Exploration results are reported as length weighted
mineralisation reporting of Exploration Results. averages.
widths and
intercept
lengths * If the geometry of the mineralisation with respect to * No high grade cuts have been applied to the reporting
the drill hole angle is known, its nature should be of the exploration results.
reported.
* No metal equivalent values have been used.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known'). * Down hole intervals have been reported. True widths
are not known.
Diagrams
* Appropriate maps and sections (with scales) and * Relevant diagrams and maps have been included in the
tabulations of intercepts should be included for any main body of the release.
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
Balanced * All results have been reported.
reporting * Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
Other
substantive * Other exploration data, if meaningful and material, * The interpretation of the results at Maqail South and
exploration should be reported including (but not limited to): Mahab 4 are consistent with the observations and
data geological observations; geophysical survey results; information obtained from historical data collected.
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
Further
work * The nature and scale of planned further work (eg * No further drilling is planned for Mahab 4 or Maqail
tests for lateral extensions or depth extensions or South. Recent results will be incorporated into an
large-scale step-out drilling). updated mineral resource estimate.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
APPIX 2 - Bayda JORC 2012 Table 1
Section 1 Sampling Techniques and Data
Sampling
techniques * Nature and quality of sampling (eg cut channels, * All data at the Bayda Prospect has been gathered from
random chips, or specific specialised industry diamond core. HQ and NQ core sizes have been used.
standard measurement tools appropriate to the Due to topographic constraints the angle of some
minerals under investigation, such as down hole gamma holes is not optimal to test true thickness of
sondes, or handheld XRF instruments, etc). These mineralisation.
examples should not be taken as limiting the broad
meaning of sampling.
* Sampling from diamond drilling is by half core
sampling of NQ or HQ core
* Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used. * Core is geologically logged and samples selected
based on geological logging. Samples are then
dispatched to Bureau Veritas in Turkey for analysis
* Aspects of the determination of mineralisation that using the following process route.
are Material to the Public Report.
* Whole sample is dried at 85degC, Crush to 70% -10
* In cases where 'industry standard' work has been done mesh (2mm), 100% pulverize to 85% passing -200 mesh
this would be relatively simple (eg 'reverse (75 m).
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g
charge for fire assay'). In other cases more * Au: 30gr Fire Assay / lead collection fusion / AAS
explanation may be required, such as where there is finish / 5ppb - 10ppm
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed * Au>10ppm (& Ag if also over-limit): 30gr / fire assay
information. fusion / GRAVIMETRIC finish
* 24 Element (Mo, Cu, Zn, Ag, Ni, Co, Mn, Fe, As, Sr,
Cd, Sb, Bi, Ca,P, Cr, Mg, Al, Na K, W, Hg, S) Aqua
Regia Digest ICP-OES finish.
* Bulk density determinations are made for all samples
that are assayed, using the Archimedes method. This
measurement is completed in Oman by Savannah
employees.
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * Diamond drilling used HQ2 or NQ2 sized equipment.
hammer, rotary air blast, auger, Bangka, sonic, etc) Diamond core was not orientated.
and details (eg core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by * Down hole surveys are completed using a single shot
what method, etc). Tropari device at approximately 30-50m intervals down
hole.
Drill sample
recovery * Method of recording and assessing core and chip * Diamond core recoveries were recorded in the drill
sample recoveries and results assessed. logs. It is unknown if a relationship exists between
sample recovery and grade.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Areas of poor recoveries were observed and recorded
in the logging.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred * In areas of poor recovery, additional drilling muds
due to preferential loss/gain of fine/coarse were applied to improve recovery.
material.
Logging
* Whether core and chip samples have been geologically * All drill holes were logged for recovery, RQD,
and geotechnically logged to a level of detail to geology and structure.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Logging of recorded lithology, mineralogy,
mineralisation, weathering, colour and other features
* Whether logging is qualitative or quantitative in of the samples. Diamond core was photographed wet.
nature. Core (or costean, channel, etc) photography.
* All drill holes were logged in full.
* The total length and percentage of the relevant
intersections logged.
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * HQ and NQ core was cut in half using a core saw.
and sample half or all core taken.
preparation
* Certified reference standards, blanks and duplicates
* If non-core, whether riffled, tube sampled, rotary are routinely inserted in the sample sequence to
split, etc and whether sampled wet or dry. assess the quality of sampling and analysis.
* For all sample types, the nature, quality and * Sample sizes are considered appropriate for the style
appropriateness of the sample preparation technique. of mineralisation expected.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples.
* Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
Quality
of assay * The nature, quality and appropriateness of the * The analytical techniques used are appropriate for
data and assaying and laboratory procedures used and whether the elements and mineralization styles being explored
laboratory the technique is considered partial or total. for.
tests
* For geophysical tools, spectrometers, handheld XRF * Savannahs QAQC protocol is to industry standards with
instruments, etc, the parameters used in determining standard reference material and blanks submitted at a
the analysis including instrument make and model, minimum of 5% frequency rate.
reading times, calibrations factors applied and their
derivation, etc.
* Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
Verification
of sampling * The verification of significant intersections by * No independent or alternative verification of the
and assaying either independent or alternative company personnel. assays has been made
* The use of twinned holes. * No twin holes have been drilled
* Documentation of primary data, data entry procedures, * No adjustments have been made to the assay data
data verification, data storage (physical and
electronic) protocols.
* Discuss any adjustment to assay data.
Location
of data * Accuracy and quality of surveys used to locate drill * Holes have been located using a handheld GPS unit
points holes (collar and down-hole surveys), trenches, mine using WGS84 Zone 40N co-ordinates.
workings and other locations used in Mineral Resource
estimation.
* Holes have been downhole surveyed using a Tropari
single shot device
* Specification of the grid system used.
* Quality and adequacy of topographic control. * Limited topographic data is available for the area
surrounding the Bayda prospect.
Data spacing
and * Data spacing for reporting of Exploration Results. * Hole spacing is approximately 25m by 25m at Bayda.
distribution
* Whether the data spacing and distribution is * Data at Bayda is sufficient to establish geological
sufficient to establish the degree of geological and and grade continuity needed for Mineral Resource
grade continuity appropriate for the Mineral Resource estimation. The current drilling will be used to
and Ore Reserve estimation procedure(s) and estimate a mineral resource estimate.
classifications applied.
* No compositing of samples has been applied.
* Whether sample compositing has been applied.
Orientation
of data * Whether the orientation of sampling achieves unbiased * Due to topographic constraints the orientation of
in relation sampling of possible structures and the extent to some drill holes is not optimal and there is
to which this is known, considering the deposit type. potential for some sampling bias to occur due
geological sampling down the dip of mineralised structures.
structure
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is * Reported intervals are down hole widths and are not
considered to have introduced a sampling bias, this necessarily true widths of mineralisation.
should be assessed and reported if material.
Sample
security * The measures taken to ensure sample security. * Chain of custody is managed by Savannah. Samples are
stored on site in a locked yard. Samples are then
transported to Turkey by airfreight. Savannah
personnel have no contact with the samples once they
have been dispatched.
Audits or
reviews * The results of any audits or reviews of sampling * No audits or reviews of the sampling techniques or
techniques and data. data have been completed.
------------- ------------------------------------------------------------ -----------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Mineral
tenement * Type, reference name/number, location and ownership * The Bayda Prospect is located with the exploration
and land including agreements or material issues with third permit referred to as Block 4. Savannah has a 65%
tenure status parties such as joint ventures, partnerships, interest in the Block with the remainder being held
overriding royalties, native title interests, by a local JV partner.
historical sites, wilderness or national park and
environmental settings.
* The tenement is in good standing with no known
impediment to renewal.
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a license to operate in the area.
Exploration
done by * Acknowledgment and appraisal of exploration by other * Previous exploration has been completed around Bayda
other parties parties. between 1980-1994 by OMCO with historical mining
being completed in the area.
Geology
* Deposit type, geological setting and style of * The deposit type being tested is the Cyprus type VMS
mineralisation. model. VMS mineralisation is interpreted to have
formed on a mid ocean ridge and then emplaced as an
ophiolite on the Arabian Craton. Several examples of
this model exist in the region.
Drill hole
Information * A summary of all information material to the * The location of the drilling at Bayda are summarised
understanding of the exploration results including a in Table 1 in the body of this release.
tabulation of the following information for all
Material drill holes:
* Previously completed holes by OMCO at Bayda are not
all reported in this release.
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation
above sea level in metres) of the drill hole * All holes completed in this program by Savannah have
collar been reported in this release.
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
Data
aggregation * In reporting Exploration Results, weighting averaging * Significant intersections are based on assays greater
methods techniques, maximum and/or minimum grade truncations than 0.5% Cu and may include up to a maximum of 4.0m
(eg cutting of high grades) and cut-off grades are of internal dilution, with a minimum composite grade
usually Material and should be stated. of 0% Cu. The minimum width for an intersection is
0.2m.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade * Cu grades used for calculating significant
results, the procedure used for such aggregation intersections are uncut.
should be stated and some typical examples of such
aggregations should be shown in detail.
* Minimum and maximum diamond core sample intervals
used for intersection calculation are 0.2m and 1.2m
* The assumptions used for any reporting of metal respectively subject to location of geological
equivalent values should be clearly stated. boundaries.
* No metal equivalents are used in the intersection
calculation.
* Where core loss occurs; the average length weighted
grade of the two adjacent samples are attributed to
the interval for the purpose of calculating the
intersection. The maximum interval of missing core
which can be incorporated with the reported
intersection is 1m.
Relationship
between * These relationships are particularly important in the * Exploration results are reported as length weighted
mineralisation reporting of Exploration Results. averages.
widths and
intercept
lengths * If the geometry of the mineralisation with respect to * No high grade cuts have been applied to the reporting
the drill hole angle is known, its nature should be of the exploration results.
reported.
* No metal equivalent values have been used.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this
effect (eg 'down hole length, true width not known'). * Down hole intervals have been reported. True widths
are not known.
Diagrams
* Appropriate maps and sections (with scales) and * Relevant diagrams and maps have been included in the
tabulations of intercepts should be included for any main body of the release.
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
Balanced * All results have been reported.
reporting * Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
Other
substantive * Other exploration data, if meaningful and material, * The interpretation of the results at Bayda are
exploration should be reported including (but not limited to): consistent with the observations and information
data geological observations; geophysical survey results; obtained from historical data collected and
geochemical survey results; bulk samples - size and geophysical surveys completed in the area.
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
Further
work * The nature and scale of planned further work (eg * Further drilling is planned for Bayda to test for
tests for lateral extensions or depth extensions or depth extensions to known mineralisation specifically
large-scale step-out drilling). to target higher grade zones.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
--------------- --------------------------------------------------------------- --------------------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
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