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High Quality VMS Copper Drill Targets Identified in Block 5, Oman
Savannah Resources plc (LSE:SAV) announces that field reconnaissance of high priority Versatile Time Domain Electromagnetic Survey targets at the Company’s prospective Block 5 Copper Project, located in the strongly mineralised Semail Ophiolite Belt in northern Oman, has identified a number of high quality drill targets within the vicinity of the Sarami Prospect.
It is the Company’s intention to fast track exploration at Block 5 towards drilling by the end of 2014. To view the release with the illustrations please use the following link:
Highlights:
· Systematic field checking of identified VTEM anomalies (as announced on 1 September 2014) within Block 5 and 6 has commenced
· Initial ground reconnaissance of VTEM targets at the Sarami West Prospect has highlighted three high priority VTEM anomalies located on the key Geotime/Lasail geological contact – the most mineralised contact within the Oman Ophiolite Belt
· Significantly, umber units which represent a significant time break to allow potential VMS deposits to form were also noted at these contacts
· Sarami West VTEM anomalies are in the vicinity of known VMS mineralisation and are untested
· The SW3 anomaly at Sarami West Prospect is larger and of similar intensity to the nearby Mahab 4 copper deposit anomaly (existing Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper)
· Field operations are currently underway to define high quality exploration targets for drilling before the end of 2014
· Block 5 with Block 6 forms part of a wider project area covering 870km² of the highly prospective copper-rich Semail Ophiolite belt in the Sultanate of Oman – proven to host clusters of moderate to high grade copper VMS deposits
· The Sultanate of Oman is a modern Middle Eastern country with excellent infrastructure, low fuel costs and a favourable fiscal regime for any potential mine development
Savannah’s CEO, David Archer said, “Our field activities are now underway in Oman with an initial focus on reviewing the high priority VTEM anomalies. Reconnaissance geological mapping at the Sarami West prospect has confirmed the three VTEM targets as high quality targets which sit on the highly prospective Geotimes/Lasail stratigraphic contact.
“We are particularly encouraged by the fact that the field activities did not note any features which could produce a false anomaly, increasing the probability that the VTEM anomalies are potentially associated with sulphide mineralisation.
“We are continuing to build our in-country exploration team and operational capabilities with the major focus of the team for the remainder of 2014 to progress a number of the high priority targets to drill ready stage and continue the review of the 94 newly identified VTEM anomalies.”
VTEM – Sarami Prospect:
Following the receipt of the final geophysical report on the reprocessing of the 2010 VTEM survey, ground work has commenced with initial exploration focused on the group of anomalies which form the Sarami Prospect, with a primary focus on the Sarami West Prospect which contains the strongest of the newly defined VTEM anomalies.
A study of VMS deposits worldwide suggests that they generally occur in clusters, with the presence of existing copper mineralisation and the multiple anomalies highlighted in the VTEM data possibly supporting this assumption at the Sarami Prospect and making the area a high priority for further exploration.
Sarami West Prospect:
The reprocessing of the VTEM data has identified three high priority VTEM anomalies within the Sarami West Prospect area – SW1, SW2 and SW3. Initial geological reconnaissance of these anomalies has focused on identifying the local geology and whether the Semail Ophiolite sequence is present with a particular focus on the key geological contacts.
SW3 is a complex, large, three part VTEM anomaly which occurs within the Geotimes unit close to a Geotimes/Lasail contact with associated umbers. The VTEM anomaly is larger and of similar intensity to the nearby Mahab 4 deposit (Indicated and Inferred Mineral Resource of 1.7Mt at 2.2% copper). Geological mapping has not been able to locate any surface features which could account for the VTEM anomaly. Gentor Resources drilled one hole B5MRMD078 (127m) just to the east of SW3 which intersected minor Geotimes Unit and a predominately gabbroic intrusive. A review of the drill log indicated that there was nothing intersected down hole which could potentially explain the VTEM anomaly in the area. Savannah is of the view that this anomaly has not been fully tested and remains a valid, high priority target and that ground electromagnetics (“EM”) will be required to accurately locate the position of the anomaly for testing.
SW2 VTEM anomaly is a moderate intensity discrete linear anomaly which appears to run parallel to a strongly defined Geotimes/Lasail contact zone. Surface reconnaissance failed to locate any topographic or other conductive features which could cause this anomaly. As a result, this anomaly remains a high priority exploration target.
SW1 is a moderate to strong discrete VTEM anomaly, located on a Geotimes/Lasail contact. Significantly, an umber which represents a significant time break to allow potential VMS deposits to form was also noted at this contact. Geological mapping of the area did not note any features which could produce a false anomaly increasing the probability that the VTEM anomaly is potentially associated with copper mineralisation.
