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Airborne Magnetics Identify Multiple Potential Strand Lines – Jangamo Project
Savannah Resources (LSE: SAV) has received preliminary results from the recent airmagnetic survey completed at its highly prospective, 180km² Jangamo heavy mineral sands project, located in a world-class mineral sands province in southern Mozambique.
Highlights:
· Heliborne magnetic and radiometric survey completed and preliminary results have been received
· Preliminary results highlight the potential for multiple, multi-kilometre long strandlines within the highly prospective dune systems in the eastern and western parts of the tenement
· Re-worked strandlines are likely to carry higher grade HMS
· Most of the newly identified potential strandlines have not yet been drill tested
· Positive results from the airmagnetic survey confirm its effectiveness as an exploration tool to detect the geophysical signature of potential HMS strandline targets
· Drill testing of these potential strandlines is underway
· Final airmagnetic results are due for delivery towards the end of June 2014
· World class province – Jangamo is adjacent to Rio Tinto’s major Mutamba1 mineral sands deposit which, along with another licence area in Mozambique, has an exploration target of 7-12 billion tonnes at 3-4.5% THM
Savannah’s CEO, David Archer said, “We are pleased to report that we continue to deliver on our enunciated milestones and timelines for our Jangamo Project.
”The preliminary airmagnetic results are encouraging and will provide us with a better understanding of the prospective dune systems and our drillhole targeting. Significantly, we have identified multiple, multi-kilometre long potential strandlines which represent an excellent opportunity for us to discover high grade HMS within the Project area.
”It is also important to note that most of the potential strandlines were not drilled in either the 2013 or the current scout drilling campaign and that re-worked strandlines are likely to carry higher grades. Drill testing of these excellent targets is currently underway, while the drill rig is on-site.”
Next Steps:
The next steps for the Project are:
· Finalisation of airborne magnetics processing and interpretation
· Completion of scout and strandline drilling and assaying
· Detailed grid drilling and assaying
· Potential delineation of a JORC resource
Savannah is currently on track to deliver all these outcomes during the 2014 exploration programme.
Further Information:
Jangamo Project – Exploration Licence 3617L
The Jangamo Project is located in Southern Mozambique within a world class mineral sands province and is highly prospective for mineral sands including zircon, ilmenite and rutile. The Project covers an area of 180km² along an extensive dune system near the village of Jangamo, about 350km to the North East of the capital, Maputo.
Jangamo lies immediately to the west of Rio Tinto’s (‘Rio’) Mutamba deposit, one of two major deposits Rio has defined in Mozambique1, which collectively have an exploration target of 7-12Bn tonnes at 3-4.5% THM (published in 2008). Importantly, exploration work conducted at the Project to date indicates that the geology and geomorphology of Jangamo is similar to that of Rio’s adjacent Mutamba deposit.
The Project area features excellent infrastructure with both grid power and the main EN1 highway cutting through the middle of Jangamo. The nearby town of Inhambane is serviced daily by LAMAir flights out of Maputo and there is excellent logistics in place to support operations, including a small port. The licence is valid until 10 December 2017.
