Al Bhatti
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March 13 2015
Mapping and chip sampling has identified new areas of gold as well as copper at Block 4 in Oman,
Mapping and chip sampling has identified new areas of gold as well as copper at Block 4 in Oman, Savannah Resources (LON:SAV) said today.
The exploration work pointed to a number of new anomalies. The rock chips included one with 5.7% copper and another containing 3.7g/t gold with the Gaddamah prospect in particular producing a large number of anomalous samples.
Historical drilling had already indicated gold and copper were present in reasonable quantities at Gaddamah.
Savannah is also carrying out diamond drilling at both the Sarami (Block 5) and Ghayth (Block 4) prospects in Oman with five of a 10 hole diamond drill programme completed to date.
David Archer, chief executive
, described the gold mineralisation as “highly exciting”.
“We see these unexplained gold anomalies, especially Gaddamah, which is located close to the old Lasail (9.2Mt at 1.6% copper) and Lasail West (0.4Mt at 1.0% copper) copper mines, as significant opportunities and we intend to analyse and evaluate these prospects further over the coming months.”
Savannah Resources unearths new gold traces in Oman - Proactiveinvestors (UK)
----------------------------
5th May 2015
Savannah Resources Gets "Encouraging" Results From Block 4 In Oman
Savannah Resources PLC Tuesday said it has received further "encouraging" drill results from the Gaddamah and Gyath prospects on Block 4 in Oman but said it failed to find any anomalies on the Sarami West prospect on Block 5.
The company said it conducted a five-hole diamond drill programme to test a series of high calibre ground electromagnetic anomalies at the Sarami West prospect on Block 5, and the Gyath prospect on Block 4.
At Gyath, drilling confirmed the presence of volcanogenic massive sulphide style mineralisation returning intersections of 1.15 metres at 3.6% copper from 35.5 metres. Further drilling on Gyath will be conducted to define full extent of mineralisation and potential resource, Savannah said.
Drilling at the Sarami West anomaly on Block 5 failed to locate the targeted electromagnetic anomalies, but intersected a strong alteration system similar to those seen around the margins of volcanogenic massive sulphide deposits, it said in a statement.
A downhole electromagnetic survey is planned at Sarami West to confirm and provide an accurate location of the original electromagnetic anomalies.
"We are pleased to confirm volcanogenic massive sulphide mineralisation at Ghayth, which continues to provide strong indications that an economic copper deposit could be present. Whilst we have not yet intersected copper mineralisation at Sarami West, the results clearly highlight that we are hunting in the right area as we are seeing strong evidence of an alteration system that could host volcanogenic massive sulphide mineralisation," said Chief Executive David Archer.
In a separate statement, Savannah said it has identified further areas of high-grade gold mineralisation with associated copper and zinc at its Gaddamah Prospect which also lies on Block 4 in Oman. The results form part of a recently completed rock chipping, trenching and geological mapping programme at the prospect, which is 7 kilometres south of the Ghayth prospect.
Individual 1 metre trench samples produced results up to 60.7 grammes of gold per tonne, with grades of 9.1% zinc and 1% copper.
Other trench sample results from a different area included 5 metres at 18.49 grammes of gold per tonne at 1.7% zinc and 0.53% copper, 4.9 metres at 18.82 grammes of gold per tonne at 0.96% zinc and 0.76% copper, and 7.7 metres at 11.35 grammes of gold per tonne at 1.45% zinc and 0.4% copper.
Additional trench sampling will now be conducted to establish the strike and depth extents of the mineralisation.
Savannah shares rose by 2.4% to 2.00 pence per share on Tuesday morning.
Savannah Resources Gets "Encouraging" Results From Block 4 In Oman - Finance News - London South East
---------------------------------
May 15, 2015
Oman's mining body to examine worth of gold found in North Batinah
Reacting to the news that a company had found a large amount of gold in Oman, Hilal Al Busaidi, CEO of the Public Authority for Mining (PAM) said preliminary information gained from samples collected from the site reveals that it is not of much 'economic value'.
Talking to Al Shabiba, he said, "The PAM officials would contact the company to discuss the discovery of gold and determine the final commercial value of the element. We have yet to be sure of these discoveries and their commercial viability."
Al Busaidi was reacting to an interview in which David Archer, the chief executive of Savannah Resources told Proactive Investors that they were extracting copper in North Batinah Governorate when they accidentally struck gold.
"According to the law and contracts with the mining companies, the initial announcement of any mineral discovery should be done only through the PAM. Only after this procedure is followed, mining companies can make announcements of their discovery," he said.
He also said that the company should have referred it to the authority before making any announcements.
Assurance
Al Busaidi explained that the mining contract was for copper discovery by an Omani company and they had requested assistance from Savannah.
Al Busaidi told Al Shabiba that he had given an assurance that the authority would initiate all steps for the benefit of the Sultanate if commercial quantities of gold ore were found.
He said that the certificate for discovery and prospecting is different from the one for mining, and the Omani company possessed the discovery and prospecting certificate.
They are given priority in discovering large quantities of gold, and according to the terms of the contract given by the government, the company and government both receive a share.
The only other gold mine was Rakah gold mine in the Yanqul region.
It produced over 4.25 tonnes of gold in the 1990s.
"According to the samples obtained by Savannah, around 60 grammes of high grade gold were discovered with 9.1 per cent zinc and 1 per cent copper," he said.
"When people talk about high grade gold discoveries these days, they mean about three to four grammes. In this case we are talking of double digits in the 18-gramme range," said Archer.
Times of Oman | News :: Oman's mining body to examine worth of gold found in North Batinah
------------------------------
May 15, 2015
‘Large quantities’ of gold discovered in Oman
Government says feasibility study must be conducted before assessing commercial value
The Public Authority for Mining affirmed that what was announced by Australian mining company Savannah about the presence of large amounts of gold in Oman were only preliminary results for superficial exploratory samples in North Batinah governorate.
Hilal Al Busaidi, the chief executive officer of the mining authority, told Shabiba, a daily local newspaper, that such discovery cannot be deemed economically significant until the discoveries are confirmed and their commercial feasibility assessed.
Al Busiadi added the mining authority summoned those in charge of Savanah company to discuss the discovery to get final results on the feasibility of these discoveries.
He pointed out that according to the law and the contracts signed with mining companies, the initial declaration must be issued by the mining authority first and later those companies can announce their results in the mining operations.
Al Busaidi explained the company should return to the mining authority before announcing that, stressing the authority will deal with any violations carried out by the company or other companies winning contracts for utilisation in the mining field.
“There are other discoveries of gold and copper in some governorates with commercial quantities”, said Al Busaidi.
Al Busaidi affirmed the authority will take actions to save the interests of the sultanate in case of the possibility of exploiting gold commercially.
Meanwhile, the gold discovery announcement by the Australian company went viral on the social media.
Many called on authorities to exploit that in the right proper way as it’s a national wealth.
Oman has vast mineral resources including chromite, copper, dolomite, zinc, limestone, marble, gypsum, silicon, gold, cobalt and iron.
Mining sector is considered as a promising sector to national economic diversification, contributing of more than OMR100 million (Dh954 million) to the states coffer last year.
‘Large quantities’ of gold discovered in Oman | GulfNews.com
Mapping and chip sampling has identified new areas of gold as well as copper at Block 4 in Oman,
Mapping and chip sampling has identified new areas of gold as well as copper at Block 4 in Oman, Savannah Resources (LON:SAV) said today.
The exploration work pointed to a number of new anomalies. The rock chips included one with 5.7% copper and another containing 3.7g/t gold with the Gaddamah prospect in particular producing a large number of anomalous samples.
Historical drilling had already indicated gold and copper were present in reasonable quantities at Gaddamah.
Savannah is also carrying out diamond drilling at both the Sarami (Block 5) and Ghayth (Block 4) prospects in Oman with five of a 10 hole diamond drill programme completed to date.
David Archer, chief executive
, described the gold mineralisation as “highly exciting”.“We see these unexplained gold anomalies, especially Gaddamah, which is located close to the old Lasail (9.2Mt at 1.6% copper) and Lasail West (0.4Mt at 1.0% copper) copper mines, as significant opportunities and we intend to analyse and evaluate these prospects further over the coming months.”
Savannah Resources unearths new gold traces in Oman - Proactiveinvestors (UK)
----------------------------
5th May 2015
Savannah Resources Gets "Encouraging" Results From Block 4 In Oman
Savannah Resources PLC Tuesday said it has received further "encouraging" drill results from the Gaddamah and Gyath prospects on Block 4 in Oman but said it failed to find any anomalies on the Sarami West prospect on Block 5.
The company said it conducted a five-hole diamond drill programme to test a series of high calibre ground electromagnetic anomalies at the Sarami West prospect on Block 5, and the Gyath prospect on Block 4.
At Gyath, drilling confirmed the presence of volcanogenic massive sulphide style mineralisation returning intersections of 1.15 metres at 3.6% copper from 35.5 metres. Further drilling on Gyath will be conducted to define full extent of mineralisation and potential resource, Savannah said.
Drilling at the Sarami West anomaly on Block 5 failed to locate the targeted electromagnetic anomalies, but intersected a strong alteration system similar to those seen around the margins of volcanogenic massive sulphide deposits, it said in a statement.
A downhole electromagnetic survey is planned at Sarami West to confirm and provide an accurate location of the original electromagnetic anomalies.
"We are pleased to confirm volcanogenic massive sulphide mineralisation at Ghayth, which continues to provide strong indications that an economic copper deposit could be present. Whilst we have not yet intersected copper mineralisation at Sarami West, the results clearly highlight that we are hunting in the right area as we are seeing strong evidence of an alteration system that could host volcanogenic massive sulphide mineralisation," said Chief Executive David Archer.
In a separate statement, Savannah said it has identified further areas of high-grade gold mineralisation with associated copper and zinc at its Gaddamah Prospect which also lies on Block 4 in Oman. The results form part of a recently completed rock chipping, trenching and geological mapping programme at the prospect, which is 7 kilometres south of the Ghayth prospect.
Individual 1 metre trench samples produced results up to 60.7 grammes of gold per tonne, with grades of 9.1% zinc and 1% copper.
Other trench sample results from a different area included 5 metres at 18.49 grammes of gold per tonne at 1.7% zinc and 0.53% copper, 4.9 metres at 18.82 grammes of gold per tonne at 0.96% zinc and 0.76% copper, and 7.7 metres at 11.35 grammes of gold per tonne at 1.45% zinc and 0.4% copper.
Additional trench sampling will now be conducted to establish the strike and depth extents of the mineralisation.
Savannah shares rose by 2.4% to 2.00 pence per share on Tuesday morning.
Savannah Resources Gets "Encouraging" Results From Block 4 In Oman - Finance News - London South East
---------------------------------
May 15, 2015
Oman's mining body to examine worth of gold found in North Batinah
Reacting to the news that a company had found a large amount of gold in Oman, Hilal Al Busaidi, CEO of the Public Authority for Mining (PAM) said preliminary information gained from samples collected from the site reveals that it is not of much 'economic value'.
Talking to Al Shabiba, he said, "The PAM officials would contact the company to discuss the discovery of gold and determine the final commercial value of the element. We have yet to be sure of these discoveries and their commercial viability."
Al Busaidi was reacting to an interview in which David Archer, the chief executive of Savannah Resources told Proactive Investors that they were extracting copper in North Batinah Governorate when they accidentally struck gold.
"According to the law and contracts with the mining companies, the initial announcement of any mineral discovery should be done only through the PAM. Only after this procedure is followed, mining companies can make announcements of their discovery," he said.
He also said that the company should have referred it to the authority before making any announcements.
Assurance
Al Busaidi explained that the mining contract was for copper discovery by an Omani company and they had requested assistance from Savannah.
Al Busaidi told Al Shabiba that he had given an assurance that the authority would initiate all steps for the benefit of the Sultanate if commercial quantities of gold ore were found.
He said that the certificate for discovery and prospecting is different from the one for mining, and the Omani company possessed the discovery and prospecting certificate.
They are given priority in discovering large quantities of gold, and according to the terms of the contract given by the government, the company and government both receive a share.
The only other gold mine was Rakah gold mine in the Yanqul region.
It produced over 4.25 tonnes of gold in the 1990s.
"According to the samples obtained by Savannah, around 60 grammes of high grade gold were discovered with 9.1 per cent zinc and 1 per cent copper," he said.
"When people talk about high grade gold discoveries these days, they mean about three to four grammes. In this case we are talking of double digits in the 18-gramme range," said Archer.
Times of Oman | News :: Oman's mining body to examine worth of gold found in North Batinah
------------------------------
May 15, 2015
‘Large quantities’ of gold discovered in Oman
Government says feasibility study must be conducted before assessing commercial value
The Public Authority for Mining affirmed that what was announced by Australian mining company Savannah about the presence of large amounts of gold in Oman were only preliminary results for superficial exploratory samples in North Batinah governorate.
Hilal Al Busaidi, the chief executive officer of the mining authority, told Shabiba, a daily local newspaper, that such discovery cannot be deemed economically significant until the discoveries are confirmed and their commercial feasibility assessed.
Al Busiadi added the mining authority summoned those in charge of Savanah company to discuss the discovery to get final results on the feasibility of these discoveries.
He pointed out that according to the law and the contracts signed with mining companies, the initial declaration must be issued by the mining authority first and later those companies can announce their results in the mining operations.
Al Busaidi explained the company should return to the mining authority before announcing that, stressing the authority will deal with any violations carried out by the company or other companies winning contracts for utilisation in the mining field.
“There are other discoveries of gold and copper in some governorates with commercial quantities”, said Al Busaidi.
Al Busaidi affirmed the authority will take actions to save the interests of the sultanate in case of the possibility of exploiting gold commercially.
Meanwhile, the gold discovery announcement by the Australian company went viral on the social media.
Many called on authorities to exploit that in the right proper way as it’s a national wealth.
Oman has vast mineral resources including chromite, copper, dolomite, zinc, limestone, marble, gypsum, silicon, gold, cobalt and iron.
Mining sector is considered as a promising sector to national economic diversification, contributing of more than OMR100 million (Dh954 million) to the states coffer last year.
‘Large quantities’ of gold discovered in Oman | GulfNews.com
