Savannah’s CEO, David Archer said, “These exciting initial assay results confirm the high-grade nature of Aarja’s copper mineralisation and, importantly, show that it is associated with significant gold with grades of up to 1.9g/t. Gold was not previously assayed for and these results suggest that it could be a very valuable by-product credit.
“The Aarja Mine is a key piece of our overall copper consolidation strategy of targeting the start of high-grade, low cost copper concentrate production from late 2017 from multiple deposits on Blocks 4 & 5 to coincide with projected global copper deficits and strengthening copper prices.
“Our next steps will include defining Exploration Targets for the Aarja, Bayda and Lasail Mines within the Block 4 and 5 areas and then moving these into JORC compliant Mineral Resources.”
Savannah Resources plc (AIM: SAV) has told DirectorsTalk that it has received initial positive assay results intersecting high-grade copper, zinc and gold from the current 1,800m drill programme over Blocks 4 and 5 in 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:
HIGHLIGHTS:
-- Results include (Table 1):
– Dog’s Bone: 9m at 4.86% copper, 1.54% zinc, 1.3g/t gold and 37.3g/t silver from 103m in 15B4RC003 Incl. 6m at 7.01% copper, 2.20% zinc, 1.9g/t gold and 53.8g/t silver from 103m
– Mahab 4: 6.6m at 6.92% copper, 5.6% zinc, 0.3g/t gold and 23.8g/t silver from 67m in 15B5DD005
— Results expanded the high-grade (>5% copper) portion of the Mahab 4 deposit with drilling targeting further expansions continuing
— Work at the Dog’s Bone Zone has confirmed the high-grade nature of the mineralisation and work is now underway to test extensions and compile a compliant mineral resource estimate
— Dog’s Bone Zone and much of the Aarja Deposit has existing underground access which would allow rapid development and exploitation
— Work has been slowed by mechanical problems with the drill rigs – targeting the end of December to finish the drilling
— Results help build on the strategy of targeting the start of high-grade, low cost copper concentrate production from late 2017
Aarja Drilling Programme
Drilling targeting the Dog’s Bone Zone of mineralisation (15B4RC002, 3 and 4) intersected high-grade mineralisation and confirmed the presence of the zone. Dog’s Bone has existing underground development that could facilitate a fast development of the zone as part of any potential operation.
Significant results are detailed below and in Table 1 and Figure 2.
Dog’s Bone:
– 9m at 4.86% copper, 1.54% zinc, 1.3g/t gold and 37.3g/t silver from 103m in 15B4RC003 Incl. 6m at 7.01% copper, 2.20% zinc, 1.9g/t gold and 53.8g/t silver from 103m
- 5m at 2.17% copper, 0.37% zinc, 0.4g/t gold and 7g/t silver from 151m in 15B4RC004 - 21.7m at 0.79% copper, 0.79% zinc, 1.97g/t gold and 12g/t silver from 174 in 15B4RC004
Drilling (15B4RC005, 6 and 7) targeting the Dog’s Bone Gossan intersected thin zones of near surface copper and gold mineralisation with results including 3m at 1.3% copper, 4.4g/t gold and 3g/t silver from surface in 15B4RC007. Further work to access the potential of this zone is currently being undertaken.
Mahab 4 Drilling Programme
Results from the first hole at Mahab 4 were very encouraging with a result of 6.6m at 6.92% copper, 5.6% zinc, 0.3g/t gold and 23.8g/t silver from 67m in 15B5DD005 expanding the high-grade (>5% copper) zone up dip and increasing the contained metal of the deposit.
15B5DD005 was completed to 96.5m with Lasail Basalts intersected in the hanging wall to a thin umber horizon at 32m. Geotimes Basalts were then intersected to the end of hole at 96.5m. Three zones of massive sulphide mineralisation were intersected between 51 and 72m. The thickest zone was at 67-73.6m (Figure 3) and consisted
of pyrite and chalcopyrite. A section for this hole is shown in Figure 4.
http://www.rns-pdf.londonstockexchange.com/rns/4269I_-2015-12-8.pdf
Table 1. Summary of significant drill results (intercepts calculated using 0.5% copper cut off with high grade intercepts calculated using 1% copper cut off)
Hole ID Prospect Northing Easting rL Azimuth Dip EOH From To (m) Down Grade Grade Grade Grade
(Deg) (Deg) (m) (m) hole
----------- ---------- ----------- ---------- ------- -------- ------ ------ ------- -------
Interval % Cu % Zn g/t g/t
(m) Au Ag
----------- ---------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
15B5DD005 Mahab 4 2656287.00 468762.00 219.00 255 -50 96.50 51.70 53.00 1.30 3.04 0.27 0.1 15.7
----------- ---------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
58.80 60.60 1.80 8.15 1.97 0.2 22.0
---------------------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
67.00 73.60 6.60 6.92 5.60 0.3 23.8
---------------------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
15B5DD007 Mahab 4 2656314.00 468761.00 215.00 255 -55 93.35 Assays Pending
----------- ---------- ----------- ---------- ------- -------- ------ ------ -----------------------------------------------------------
VTEM
Target
15B4RC001 #4 2693035.0 440591.0 228 270 -70 100 Assays Pending
----------- ---------- ----------- ---------- ------- -------- ------ ------
15B4RC002 Dogs Bone 2692565.0 440382.0 231 0 0 150 No Significant Assays
----------- ---------- ----------- ---------- ------- -------- ------ ------ -----------------------------------------------------------
15B4RC003 Dogs Bone 2692576.0 440416.0 230 0 -90 145 103.00 112.00 9.00 4.86 1.54 1.3 37.3
----------- ---------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
inc 103.00 109.00 6.00 7.01 2.20 1.9 53.8
15B4RC004 Dogs Bone 2692554.0 440488.0 230 0 -90 205 151.00 156.00 5.00 2.17 0.37 0.4 7
----------- ---------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
174.73 196.00 21.27 0.79 1.97 0.6 12
---------------------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
Dogs Bone
15B4RC005 Gossan 2692608.0 440341.0 230 300 -60 50 0.00 3.00 3.00 0.31 0.10 0.2 -
----------- ---------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
Dogs Bone
15B4RC006 Gossan 2692620.0 440343.0 230 300 -60 50 0.00 3.00 3.00 0.21 - 0.3 -
----------- ---------- ----------- ---------- ------- -------- ------ ------ ------- ------- --------- ------ ------ ------ ------
Dogs Bone
15B4RC007 Gossan 2692612.0 440304.0 235 0 -90 30 0.00 3.00 3.00 1.30 0.10 4.4 3
----------- ---------- ----------- ---------- ------- -------- ------ ------
15B4RC011 Dogs Bone 2692575.0 440386.0 229 0 0 138 Assays Pending
----------- ---------- ----------- ---------- ------- -------- ------ ------ -----------------------------------------------------------
