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Savannah Resources (LSE:SAV)announces that it has received positive testwork results from follow-up analysis of samples collected from a 27 hole, 1,812m scout drilling programme completed in November 2013.
The results confirm broad zones of heavy minerals at its prospective 180km² Jangamo heavy mineral sands project (‘Jangamo’ or the ‘the Project’), which is located in a world-class mineral sands province in southern Mozambique.
Highlights:
– Results confirm the potential for the Jangamo tenement to host a major heavy minerals system
– Assay results from heavy media separation and mineralogy test work confirm broad intersections of heavy minerals of up to 39 metres deep with total heavy minerals (‘THM’) of up to 3.5% including ilmenite, rutile/leucoxene and zircon
– Identified strike lengths of at least 6km and 10km with strong THM grades in three strand lines:
o eastern finger with 18m at 3.5% THM
o eastern line with 24m at 3.2% THM
o western line with 10m at 2.2% and 39m at 2.0% THM
– Initial work suggests that the mineralisation is low in slimes and the THM is ilmenite dominated with lesser magnetite, rutile/leucoxene and zircon – further samples will be analysed
– Final Jangamo heavy mineral product will likely contain a high percentage of titanium dioxide (‘TiO₂’) minerals including ilmenite, leucoxene and rutile
– Commissioned leading mineral sands consulting group TZ Minerals International to scope out and characterise the potential of Jangamo and to outline a path for the Project through to a scoping study
– 2014 exploration program me is being designed and will comprise geophysics, further drilling and mineralogical studies to commence during Q2 2014
– World class province – Jangamo is adjacent to Rio Tinto’s major Mutamba1 mineral sands deposit which, along with another licence area in Mozambique, has an exploration target of 7-12 billion tonnes at 3-4.5% THM Savannah’s CEO, David Archer said, “We are excited with the results returned from the first set of composite samples taken from our initial scout drilling campaign at our flagship Jangamo Project.
Results have returned excellent concentrations of heavy minerals including ilmenite, rutile/leucoxene and zircon over some very broad intersections in two major zones, with strike lengths of at least 6km and 10km.
There are excellent THM grades in three strand lines – the eastern finger with 18m at 3.5% THM, the eastern line with 24m at 3.2% and the western line with 10m at 2.2% and 39m at 2.0%.
Further composite samples will be analysed in order to further prove up the resource potential but importantly, the results are consistent with the grades in the published data for Rio’s Tinto’s adjacent “tier one’’ Mutamba deposit.
“Given the early stage of the exploration programme and the large distances between our scout drill holes, in many cases over 5km, we have made excellent progress towards identifying a major heavy minerals system.
The results confirm the prospectivity of the tenement and we’ll now move to define the strike and lateral extents of the heavy mineral sequences. In line with this, I’m also delighted to report that we have established a close collaboration with the globally leading heavy minerals consultancy, TZ Minerals International Pty Limited, which will help guide a rigorous and effective approach to the Project.”
