Northland Capital partners view: The final set of assay results from Savannah Resources latest drill programme continues to expand the areas of known copper and gold mineralisation at Blocks 4 and 5. The compilation of the historic drill holes at the Lasail Mine has added significant data at a low cost that can be included in an update to the current mineral resource estimate of 1.7mt at a grade of 2.2% Cu. Priorities at Blocks 4 and 5 for 2016 include: planning of additional drill programmes; completion of a mineral resource estimate for the previous producing Aarja, Bayda and Lasail Mines; feasibility study of an amalgamated mine development of several deposits; application for mining licences and associated financing activities.
| Final drill results and update on Lasail |
| n The final results from the Block 4 and 5 drill programme include; 16m at 0.85% Cu from 105m (15B5DD006) at Mahab located in Block 5 and 9m at 0.5% Cu and 2g/t Au from 4m (15B4RC009) at Gaddamah located in Block 4.
n Data compilation of historic drill results for 155 holes (18,745m) at the previously producing Lasail Mine has highlighted both open pit and underground potential mining opportunities. Some of the historic drill results include; 16.8m at 3.1% Cu from 86.37m (2-29), 15.8m at 3.9% Cu (MOB197-007 – a horizontal underground hole) and 56m at 1.52% Cu from 103m (2-2). |
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