22nd Sep 2015 09:53
LONDON (Alliance News) - Savannah Resources PLC on Tuesday said it has identified high-grade copper mineralisation at the Aarja prospect at Block 4 in Oman.
Savannah said the Aarja Main prospect showed copper grades of up to 4.7%, with up to 8.5% seen in the Dog's Bone prospect and 3.9% at Aarja South.
The group will drill a series of holes to confirm the results ahead of calculating a resource estimate for the site, which is hopes to release in the fourth quarter.
"Savannah, together with our partners Al Thuraya, are very encouraged by these results from the compilation of the historic data at the Aarja Prospect at Block 4. Whilst work is still continuing in finalising this model, the early signs point towards a significant zone of copper mineralisation being present under the Aarja pit and along strike," said Chief Executive David Archer.
Savannah shares were flat at 1.95 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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