Ground Electromagnetic Survey underway on Savannah's Block 5 Copper project

PUBLISHED: 03 Dec 2014 @ 08:20 | Comments (0) |

Ground Electromagnetic Survey Underway on Block 5 Copper project, Oman

Savannah Resources plc (AIM:SAV) announces that it has commenced a ground electromagnetic survey, which is the precursor to drilling over a series of high priority copper targets on the Company’s Block 5 copper project, located in the mineral rich Oman Ophiolite belt.

HIGHLIGHTS:

· A four week, ground EM survey has commenced over six priority Versatile Time Domain Electromagnetic Surveying targets identified by the reprocessing of data and geological review
· Results from the EM survey together with other key data layers will be used to target drill holes to test the anomalies for VMS copper mineralisation
· Geological mapping has confirmed that the anomalies are located in prospective stratigraphic positions within the ophiolite sequence
· Near surface Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% Cu at Block 5 (including a high-grade zone of ~0.5Mt @ 4.5% Cu)
· Drilling expected to commence in Q1 2015

Savannah’s CEO, David Archer said, “The ground EM data is the last layer of information we need for final targeting of the drill holes on Block 5. As part of Savannah’s integrated approach we have reprocessed the VTEM and airborne magnetics, acquired detailed spot imagery, conducted a review of the geochemistry and mapped, in detail, the ophiolite sequence within Block 5 to help us best target potential Volcanogenic massive sulphide copper mineralisation.

”Past explorers have already identified two VMS deposits within Block 5 and, given that VMS deposits tend to occur in clusters, we think our new, integrated exploration approach has a high chance of discovering additional VMS deposits.

“Oman is a well-developed country with excellent infrastructure (proximal to a major deep sea port, excellent bitumen road networks and extensive power line network), low fuel and labour costs and a favourable fiscal and tax regime. Savannah is of the opinion that mining profitability in Oman will be significantly enhanced by this very favourable development setting.”

Exploration Programme:

Savannah is now ramping-up its Oman exploration programme with a view to commencing drilling on Block 5 in Q1 2015. In tandem with this, a VTEM survey will be conducted at Block 4, which the Company recently acquired in November 2014 thus enhancing its in-country footprint. The initial work programme will include:

· Completing a detailed targeting assessment of the geophysical data looking at subtle targets, targets under cover, and targets potentially concealed by cover along known prospective trends
· Improving understanding through better characterisation of known deposits, inside and outside the blocks, especially through lithogeochemical signatures of mineralisation and alteration and a better definition of structural and lithostratigraphic control
· Further geological mapping, geochemical sampling and airborne VTEM survey
· Drill targets being defined by a combination of VTEM conductors, ground EM follow-up, systematic surface geochemistry, geological mapping and lithogeochemical targeting

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