13th Mar 2015 09:01
LONDON (Alliance News) - Savannah Resources PLC Friday said it has found gold and copper at Block 4 in Oman.
The miner said it discovered gold mineralisation with associated copper mineralisation after it completed a rock chipping and geological mapping programme at Block 4.
Savannah said rock chip sampling results from the Gaddamah prospect have shown grades of up to 5.7% copper and 3.7 grammes of gold per tonne. These results were not gathered from the same sample.
It said the results from the Gaddamah prospect have also confirmed the historical drilling intercepts, including 15.9 metres at 1.91 grammes of gold per tonne and 1.2% copper.
Diamond drilling continues at the Ghayth prospect in Block 4, and on the Sarami prospect on Block 5. So far, five of the ten holes on the blocks have been completed, it said.
"Recent results demonstrate there are also high levels of gold anomalism present, which is highly exciting and can often be found with copper mineralisation in addition to being prospective in its own right," said Chief Executive David Archer.
Savannah shares were up 6.1% to 2.17 pence per share on Friday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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