14th Oct 2015 10:33
LONDON (Alliance News) - Savannah Resources PLC on Wednesday said it has started a 10-hole reverse circulation drilling programme on Block 4 permit area in Oman.
The miner said it will drill a total of 965 metres over the 10 holes, which will focus on new targets that were identified by the Versatile Time-Domain Electromagnetic survey and other targets that were identified from previous drilling on the site.
The Aarja and Gaddamah prospects, alongside VTEM Targets four and thirteen, are included in the programme, which is now underway.
Savannah is earning a 65% shareholding in the Omani company, Al Thuraya LLC, the owner of the Block 4 permit, by undertaking exploration activities on behalf of Al Thuraya.
Shares in Savannah Resources were trading flat at 2.00 pence on Wednesday.
By Samuel Agini; [email protected]; @samuelagini
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