(MENAFN- ProactiveInvestors - UK) Savannah Resources (LON:SAV) is making "excellent" progress with its copper-gold projects in Oman it told investors releasing the remaining assays from drilling completed at the end of December.
Priorities for Blocks 4 and 5 include now a mineral resource estimate for the previously producing Aarja Bayda and Lasail mines in Block 4 and a feasibility study of an amalgamated mine development of the deposits within both blocks.
The firm will also apply for mining leases over the deposits.
Highlights from the remaining seven holes from the latest programme include 16 metres at 0.85% copper from 105 metres at Mahab 4 Block 5 and 9m at 0.5% copper and 2g/t gold from 4 metres at Gaddamah Block 4.
David Archer chief executive said: "Additional copper-gold mineralisation has been confirmed at Aarja in Block 4 the high-grade copper envelope of the Mahab 4 deposit in Block 5 where we have defined our current resource of 1.5Mt at 2.1% copper for 31500t of contained copper has been extended gold mineralisation at Gaddamah in Block 4 has been increased and recently compiled drill data has highlighted both the high-grade open-cut and underground copper potential of the Lasail Mine."
The Lasail Mine is the largest VMS deposit within the Oman ophiolite belt and 13 million tonnes at 2% copper was mined between 1986 and 1994.
Based on analysis of historic data Savannah has identified several potential areas which could present future mining opportunities.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.