Savannah Resources PLC Investor Evening (7241P)
22 November 2016 - 6:00PM
UK Regulatory
TIDMSAV
RNS Number : 7241P
Savannah Resources PLC
22 November 2016
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector:
Mining
22 November 2016
Savannah Resources Plc
Investor Evening
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'),
the AIM quoted resource development company, announces that it will
be holding an investor evening at 6.00pm on Tuesday 13 December
2016 at The Chesterfield Mayfair Hotel, 35 Charles Street, London,
W1J 5EB.
At the event, Savannah Resources' Chief Executive Officer, Mr
David Archer, will provide an update on recent milestone
achievements with the Company's resources development
portfolio:
-- Heavy mineral sands Consortium Project in Mozambique - the
signature of a Consortium Agreement with Rio Tinto and the
announcement of an initial Indicated and Inferred Mineral Resource
Estimate of 3.5 billion tonnes at 3.8% Total Heavy Minerals.
-- Block 4 and 5 Copper Projects in Oman - recent drilling has
highlighted the potential to further define the high grade portion
of the current Indicated and Inferred Mineral Resource of 1.7Mt at
2.2% copper.
-- Somero and Erajarvi Lithium Projects in Finland - following
the acquisition of these licences earlier this year, early
reconnaissance work is continuing and additional assay results are
expected shortly.
To register for a place at the event or for more information
please email info@savannahresources.com, referencing 'Investor
Event' as the subject line. Please submit any interest in attending
by Wednesday 7 December 2016.
**ENDS**
For further information please visit www.savannahresources.com
or contact:
David Archer Savannah Resources Tel: +44 20
plc 7117 2489
David Hignell / Gerry Northland Capital Tel: +44 20
Beaney (Nominated Partners Ltd 3861 6625
Adviser)
Jon Belliss / Elliot Beaufort Securities Tel: +44 20
Hance Ltd 7382 8300
(Corporate Broker)
Charlotte Page / St Brides Partners Tel: +44 20
Lottie Brocklehurst Ltd 7236 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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