13th Mar 2014 12:47
LONDON (Alliance News) - Savannah Resources PLC Thursday said follow-up analysis of samples at its Jangamo heavy minerals sands project in Mozambique have confirmed broad zones of heavy minerals.
The exploration and development company said assay results confirm broad intersections of heavy minerals of up to 39 metres deep with total heavy minerals of up to 3.5% including ilmenite, rutile and zircon.
The study identifies strike lengths of at least 6 kilometres and 10 kilometres with strong mineral grades in three areas, including the eastern finger area with an 18 metre space at 3.5% total heavy minerals.
The company said it has commissioned leading mineral sands consulting group TZ Minerals International to scope out and characterise the potential of Jangamo and to outline a path for the project through to a scoping study.
Savannah said its 2014 exploration programme is being designed and will include geophysics, further drilling and mineralogical studies, commencing in the second quarter.
Savannah resources shares were up 2.8% to 12.725 pence Thursday.
By Tom McIvor; [email protected]; @TomMcIvor1
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