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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 | - |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMSAV
RNS Number : 2457P
Savannah Resources PLC
16 November 2016
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
16 November 2016
Savannah Resources Plc
Robust zones of copper mineralisation identified and further drilling underway, Oman
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, announces that the final results for the resource drilling programme at the Mahab 4 prospect in Block 5, Oman have now been received. In addition, a new four drill hole drilling programme has commenced at the Aarja/Dog's Bone prospect in the highly prospective Block 4 licence area, Oman. 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/2457P_-2016-11-15.pdf
HIGHLIGHTS:
-- Final results have now been received from Mahab Resource Drilling with 16B5DD018 returning a result of 14.25m at 3.86% copper, 0.62% zinc and 0.22g/t gold from 109.1m
-- This new result complements previously released results, as announced on 31 October 2016 and 12 September 2016, including:
Mahab 4
o 16B5DD009*: 67.4m at 4.64% copper, 1.13% zinc and 0.3g/t gold from 18.6m incl. 35.4m at 8.30% copper, 2.1% zinc and 0.4g/t gold from 18.6m
o 16B5DD017*: 47m at 6.07% copper, 1.43% zinc and 0.3g/t gold from 52m
* drilled oblique to section to maximise sample size for metallurgical test work
Maqail South
o 16B5DD001: 25.63m at 2.66% copper and 0.1g/t gold from 49.37m
o 16B5DD001A: 20.55m at 3.09% copper and 0.1g/t gold from 48.95m
-- The results of the completed drill programme point towards robust zones of VMS mineralisation at both Mahab 4 and Maqail South, with potential to extend the high grade portion of the current Indicated and Inferred Mineral Resource of 1.7Mt at 2.2% copper - updated estimate is expected Q4 2016
-- A new 600m diamond drilling programme is now underway targeting areas of known mineralisation to establish a JORC compliant mineral resource estimate at the Dog's Bone lens, which is part of the Aarja deposit
David Archer, Savannah's Chief Executive Officer said today "We continue to be encouraged by the broad high grade zones of copper mineralisation at both the Mahab 4 and Maqail South deposits. To further advance the mining studies around a potential mine development for late 2017, drilling is now underway at the Aarja prospect targeting the Dog's Bone zone. Drilling here is focused on getting this zone of mineralisation into a JORC compliant resource so that it can be considered as part of the potential mine development."
Figure 1. Location Map showing Position of Proposed Drilling - see PDF link
DRILLING RESULTS
To date the following holes have been completed and are summarised in Table 1 (along with previously announced results).
-- Mahab 4: Final hole 16B5DD018 (168m) completed
Table 1. Drill Hole Collar and Significant Drill Intercept Summary Table
Hot Features
Premium
Hole rL From To Down
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 80.00 58.60 64.40 5.80 4.42 0.00 0.2 2
------------ ------------ ---------- --------- ------ -------- ------ ------- ------- ------- --------- ------ ------ ------ ------
Maqail
16B5DD005 South 2661210.0 453553.0 407.0 23 -72 80.20 62.12 63.10 0.98 5.20 0.00 0.1 3
------------ ------------ ---------- --------- ------ -------- ------ ------- ------- ------- --------- ------ ------ ------ ------
Maqail
16B5DD006 South 2661210.0 453553.0 407.0 259 -71 90.00 81.30 82.20 0.90 1.95 0.00 0.2 4
------------ ------------ ---------- --------- ------ -------- ------ ------- ------- ------- --------- ------ ------ ------ ------
Maqail
16B5DD007 South 2661230.0 453530.0 412.0 261 -70 91.00 80.70 82.85 2.15 3.70 0.00 0.1 0
------------ ------------ ---------- --------- ------ -------- ------ ------- ------- ------- --------- ------ ------ ------ ------
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
------------------------- ---------- --------- ------ -------- ------ ------- ------- ------- --------- ------ ------ ------ ------
155.65 168.00 12.35 0.20 0.38 0.3 2
------------------------- ---------- --------- ------ -------- ------ ------- ------- ------- --------- ------ ------ ------ ------
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 67.45 18.20 24.00 5.80 9.53 15.06 1.7 49
------- ------- --------- ------ ------ ------ ------
including 18.20 20.00 1.80 28.99 6.00 1.7 52
------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD009 4 2656070.0 468769.0 218.0 256 -68 109.00 18.60 86.00 67.40 4.64 1.13 0.3 15
------- ------- --------- ------ ------ ------ ------
including 18.60 54.00 35.40 8.30 2.10 0.4 28
------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD010 4 2656125.0 468767.0 221.0 256 -53 59.00 34.95 45.00 10.05 10.51 2.67 0.4 19
------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD012 4 2656216.0 468700.0 251.0 103 -55 81.00 57.50 59.40 1.90 4.39 7.60 0.5 37
------- ------- --------- ------ ------ ------ ------
62.50 77.68 15.18 4.02 1.00 0.2 12
------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD013 4 2656216.0 468700.0 251.0 103 -62 105.00 65.20 85.00 19.80 6.15 1.80 0.4 18
------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD015 4 2656216.0 468700.0 251.0 51 -60 120.00 84.45 98.00 13.55 6.43 0.68 0.2 11
------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD017 4 2656305.0 468760.0 220.0 256 -63 147.00 52.00 99.00 47.00 6.07 1.43 0.3 16
------- ------- --------- ------ ------ ------ ------
108.00 110.00 2.00 3.37 1.75 0.3 6
------- ------- --------- ------ ------ ------ ------
Mahab
16B5DD018 4 2656202.0 468639.0 238.0 113 -25 180.00 109.10 123.35 14.25 3.86 0.62 0.2 7.1
------------ ------------ ---------- --------- ------ -------- ------ ------- ------- ------- --------- ------ ------ ------ ------
Mahab 4
The final hole at Mahab 4, 16B5DD018, was completed to a depth of 168.4m to collect geotechnical information about a possible decline path. The hole also intersected the main massive sulphide lens at 110m, with a 14m interval of massive sulphide at the planned position returning a result of 14.25m at 3.86% copper, 0.62% zinc and 0.22g/t gold.
Figure 2: Schematic Cross Section of Mahab 4 showing new drill hole (new results in blue) - see PDF link
ADDITIONAL DRILLING PROGRAMME AT DOG'S BONE, BLOCK 4
Dog's Bone is a lens of high-grade massive sulphide that is situated above the mineralisation that was mined at the historic Aarja Mine between 1988 and 1994 by OMCO, which produced about 2.6Mt at a grade of 1.4% copper. A four-hole drilling programme, which is additional to the programme announced on 12 May 2016, has commenced to improve the confidence in the grade and continuity of the mineralisation. (Figure 3).
Figure 3: Schematic Cross Section of Dogs Bone showing new drill hole (new results in blue) - see PDF link
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 Page / St Brides Partners Ltd Tel: +44 20 7236
Lottie Brocklehurst 1177
Notes
Savannah Resources Plc (AIM: SAV) is a growth oriented, multi-commodity, development company.
Mozambique
Savannah operates combined heavy mineral sands projects in Mozambique with Rio Tinto, and can earn a 51% interest in the combined Consortium Project, which has an established initial Indicated and Inferred Mineral Resource Estimate of 3.5 billion tonnes at 3.8% THM over the Jangamo and Dongane deposits. Under the terms of the agreement with Rio Tinto Savannah must deliver the following to earn corresponding interest in the Consortium Project: scoping study - 20%; pre-feasibility study - 35%; feasibility study - 51%. Additionally, the Consortium Agreement includes an offtake agreement on commercial terms for the sale of 100% of production to Rio Tinto (or an affiliate).
Oman
Savannah has interests in two copper blocks in the highly prospective Semail Ophiolite Belt in Oman. The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper and high grade intercepts of up to 56.35m at 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.
Finland
Savannah has Reservation Permits over two new lithium projects, Somero and Erajarvi, covering an area of 159km(2) in Finland. Savannah holds a 100% interest in these projects through its Finnish subsidiary Finkallio Oy. Geological mapping by the Finnish Government within the project areas has highlighted the presence of lithium minerals spodumene, lepidolite and petalite with the Government also identifying Somero and Erajarvi as one of the most prospective areas to discover lithium deposits in Finland. Savannah plans to initiate an exploration programme including data compilation, geological mapping and surface sampling with the aim of generating drill ready targets during 2016.
APPIX 1 - Mahab 4 and Maqail South JORC 2012 Table 1
Section 1 Sampling Techniques and Data
Criteria JORC Code explanation Commentary
------------- ------------------------------------------------------------ -----------------------------------------------------------------
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. Majority of holes have been
minerals under investigation, such as down hole gamma angled to 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 DGPS unit by a licensed
points holes (collar and down-hole surveys), trenches, mine surveyor 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 immediate
* Quality and adequacy of topographic control. area surrounding Maqail South and Mahab 4 projects.
* 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 * Majority of drill holes are angled approximately
in relation sampling of possible structures and the extent to perpendicular to the orientation of the lithological
to which this is known, considering the deposit type. trends. Some holes have been angled down the dip of
geological the structure to collected material for metallurgical
structure testing.
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this * Orientation of the holes does not bias sampling data.
should be assessed and reported if material.
* Reported intervals are down hole widths and are not
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.)
Criteria JORC Code explanation Commentary
--------------- --------------------------------------------------------------- ------------------------------------------------------------
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 programme 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.
--------------- --------------------------------------------------------------- ------------------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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