3rd Jun 2015 07:30
LONDON (Alliance News) - Savannah Resources Wednesday said it has confirmed gold mineralisation and associated copper mineralisation at the Salahi 1 prospect at Block 4 in Oman.
Savannah has a 65% stake in Al Thuraya LLC, the owner of the Block 4 licence.
The results from recent trench sampling identified a gold prospect at the Salahi 1 area, with samples producing results of up to 72.2 grams per tonne of gold.
"Al Thuraya and Savannah are very encouraged by the gold mineralisation observed at both the Gaddamah West target and now at Salahi 1 within the Block 4 project area. The zone of gold mineralisation defined at Salahi 1 has good strike length, varying in width from 12m to 1m, and importantly remains open along strike to the north and south," said Savannah Chief Executive David Archer.
Shares in Savannah were up 10% to 2.149 pence in early trade, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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