Savannah Resources plc (LON:SAV) Chief Executive Officer David Archer caught up with DirectorsTalk for an exclusive interview to discuss the potential VMS clusters identified at the Block 4 Copper-Gold project in Oman
Q1: We have seen in your recent announcement that you have identified potential VMS clusters in the copper-gold project at Block 4 in Oman You’ve used a technique known as VTEM to conduct the survey, which I believe is like a giant metal detector. Could you elaborate a little bit on my simple explanation of VTEM and are you pleased with the results?
A1: We’re very pleased with the results. As you say, the VTEM survey was conducted by helicopter and defectively it is an airborne metal detector which is used to actually characterise where accumulations of metal might be in the ground and we think it’s done a really very good job. Effectively, it’s allowed us to characterise the quite large Block 4 tenements, about 408 square kilometres and quite challenging country, it’s quite wild country, well located but quite wild. It’s allowed us to define a series of targets, the result also is that it’s confirmed that it works. The VTEM survey has confirmed anomalies over known existing volcanic massive sulfide deposits; that is the old mines themselves, and a prospect that we’ve actually drilled and confirmed VMS mineralization. Effectively, we’ve proven the efficacy or the usefulness of the technique and finally it provide us with an excellent sort of road map for our drilling activities.
Q2: What’s the significance of the results announced today? What does it mean for Savannah?
A2: Firstly, we look like we’ve defined some very exciting anomalies which are in zones immediately adjacent to the old mines which is very sort of suggestive of extensions of mineralization from the old mined areas into adjacent areas around these pits so that’ll be a high priority target for us. The second thing is that it’s also identified zones in rather more sort of greenfields areas which if you like are wildcat prospects and certainly, they hold very exciting potential for discovery of previously identified VMS deposits. So I think in aggregate, really good news. It provides us with a very sort of solid road map on which to build and will provide us with a whole series of targets which we’ll be actively drill testing with RC drilling, once the very extreme temperatures in Oman subside, starting in late August.
Q3: So with the results in, what are the next steps for Savannah and what can investors expect to see?
A3: I think for the next steps, we’ll probably come out with a further series of announcements, zeroing in on these priority targets and giving more detail around the exact drilling that’s planned on each one of the high priority targets. That’ll be followed by the commencement of RC drilling, hopefully late August, so we should have a very active period of news flow starting of late August and running through subsequent months as we methodically work our way through these drill targets. We’re moving into another drilling season in to Oman and should be a pretty news-rich environment for the market and our shareholders.
