10th Nov 2014 08:33
LONDON (Alliance News) - Savannah Resources PLC Monday said it has identified a number of new potential copper targets in Oman.
The company has identified the targets in its exploration block 5 in Oman, where it has found a number of areas with visible copper mineralisation which have not been identified or explored using modern exploration techniques, it said in a statement.
Mapping at the targets has shown mineralised units up to 5 metres wide and the company are to release a more detailed report on the discovery and exploration in the fourth quarter of 2014, it added.
"Many of these targets show all the right features for the discovery of copper mineralisation: they are in the right contact areas between the most prospective rock units, with the right indicator minerals; co-incident geophysical anomalies are present and some are associated with visible copper oxide mineralisation," said Chief Executive David Archer.
Savannah shares were up 1.9% to 5.35 pence per share Monday morning.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Savannah Resources