17th Feb 2014 12:11
LONDON (Alliance News) - Savannah Resources PLC Monday said its Jangamo Project scout drilling has provided positive initial results and confirmed broad mineralised zones.
The Mozambique-focused mineral sands company said initial assay results confirm broad zones up to 45 metres of titanium dioxide and zirconium dioxide, along with low levels of deleterious elements such as chromium, uranium and thorium contaminants.
The company said the results mark progress towards identifying a major minerals system within the Jangamo tenement.
Savannah Resources said that two major mineralised dunal systems were identified with lengths of at least 6 to 10 kilometres, and further testwork is ongoing, including mineralogy and metallurgy on selected anomalous intersections to determine the percentage total heavy minerals content.
The company said 27 holes were drilled, and a total of 1,812 meters of reverse drilling was completed to assess the project's prospects.
Reverse circulation drilling is a lower, more expensive drilling method which achieves better penetration than other possible methods. In this method, broken bits are pumped up and out of the drill pipe.
The Jangamo site is adjacent to Rio Tinto PLC's major Mutamba mineral sands deposit, which along with another licence area in Mozambique has an exploration target of 7 to 12 billion tonnes at 3 to 4.5% total heavy minerals.
Savannah has an 80% shareholding in Matilda Minerals Limitada, the owner of the Jangamo site.
?On the back of results in February, we'll be designing a second round of drilling on the mineral sands,? Chief Executive Officer David Archer told Alliance News in December. ?Probably something in the order of 5,000 metres of drilling, which will be implemented towards the middle of 2014 in order to hopefully frame up a JORC resource in the second half of 2014.?
Savannah Resources shares were trading flat at 7.75 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Savannah Resources