Savannah Resources 'encouraged' by copper mineralisation at Oman sites

The results for the drilling programme at the Mahab four prospect in block five in Oman found that the 16B5DD018 licence, drilled at 14.25 meters had 3.86% copper, 0.62% zinc and 0.22 grams per tonne of gold from 109.1 meters.

The AIM-listed company has a 65% stake in Omani company, Al Thuraya, the owner of the block four project

65% stake in Al Fairuz Mining, the holder of the block five licence.

Previously, the company has drilled at Maqal South prospect and the Mahab prospect on different licenses with similar results to those published today.

The results of the completed drill programme pointed towards “robust” zones of volcanogenic massive sulphide mineralisation at Mahab four and Maqail South, with potential to extend the high grade portion of the current indicated and inferred mineral resource of 1.7m per tonne at 2.2% copper.

In addition, a new 600 meter diamond drilling programme is currently underway targeting areas of known mineralisation to establish an Australasian Joint Ore Reserves Committee Code (JORC) compliant mineral resource estimate at the Dog's Bone lens, which is part of the Aarja deposit in the block four licence area.

The company holds a 65% stake in Al Thuraya, the owner of the block four project.

Chief executive David Archer said: "We continue to be encouraged by the broad high grade zones of copper mineralisation at both the Mahab 4 and Maqail South deposits.

“To further advance the mining studies around a potential mine development for late 2017, drilling is now underway at the Aarja prospect targeting the Dog's Bone zone. Drilling here is focused on getting this zone of mineralisation into a JORC compliant resource so that it can be considered as part of the potential mine development."

Shares in Savannah Resources were up 6.5% to 5.32p at 1107 GMT.