Savannah Resources: Drilling underway targeting copper in Oman

PUBLISHED: 13 Nov 2015 @ 10:42 | Comments (0) |

Drilling Underway Targeting Extensions to the High Grade Copper at Mahab 4 – Block 5, Semail Ophiolite Belt, Oman

Savannah Resources plc (LSE:SAV) has announced that diamond drilling is underway targeting extensions to high grade copper zones identified around the Mahab 4 deposit on the Block 5 permit in Oman.

Savannah owns a 65% shareholding in Al Fairuz Mining LLC, the owner of the Block 5 licence.

HIGHLIGHTS:

· Diamond drilling programme underway focused on testing the up and down dip extensions of the high grade copper (>5%) core of the Mahab 4 deposit
· Historical results include:

– 54.86m at 6.32% copper from 63m in B5MB4D071

– 51.58m at 5.17% copper from 44m in GRB5D035

– 20.06m at 5.62% copper from 67m in GRB5D032

– 20.40m at 5.49% copper from 99m in GRB5D047

· Current Mahab 4 Mineral Resource Estimate is 1.5Mt at 2.1% copper for 31,500t of contained copper

· Drilling targeted at increasing the contained copper of the Mahab 4 Mineral Resource

Savannah’s CEO, David Archer said, “We’re pleased that drilling is underway at the Mahab 4 project in Oman. We now have two drilling programmes underway in Oman, drilling a series of highly promising brown and greenfield targets.

At Mahab we are targeting the expansion of the identified high grade copper core of the Mineral Resource which has grades in excess of 5% copper. Given that the deposit is open along strike and up and down dip, and the high grade nature of this deposit there is an excellent opportunity to expand the contained copper in the deposit with limited drilling. Positive results from this drilling programme will continue to provide support to Savannah’s strategy of identifying a series of small to medium sized high grade copper deposits, which will be processed at a central processing facility.”

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