🕐07.05.14 - 12:00 Uhr
S P ANGEL COMMENT ON SAVANNAH RESOURCES PLC FOLLOWING EXPANSION OF TECHNICAL TEA
M TO MANAGE THE COMPANY’S FAST PACED EXPLORATION PROGRAMMES IN MOZAMBIQUE AND OMAN
Hi there,
Please find below a note from S P Angel on Savannah Resources Plc after the company announced that it had appointed three experienced geoscientists to manage the Companys fast paced exploration programmes in Mozambique and Oman, where it is exploring for heavy mineral sands and copper respectively.
This follows an announcement on 10 April 2014, which announced that the Company has entered into an agreement to acquire a prospective interest in the highly prospective Block 5 and Block 6 copper projects in Oman from TSX-V listed Gentor Resources Inc.
The acquisition of these Projects, which contain part of one of the best preserved copper-rich Ophiolite belts in the world, forms part of Savannahs growth strategy of building a multi-commodity exploration and development company.
I have included the note and todays announcement below.
Kind regards,
Charlotte
S P Angel Note:
Savannah Resources (SAV LN) 6.94 pence, mkt Cap 9.6m Expands technical team in Mozambique and Oman
* Savannah Resources are ramping up operations in Mozambique and Oman with the appointment of three geoscientists to the team.
* The team are to advance work on the Jangamo mineral sands project in Mozambique and on the copper prospects in Oman.
* This work should direct forthcoming drilling and lead to new resource definition at both sites
* This follows the successful acquisition / earn in of resources in Oman from Gentor Resources.
* The new team are Dean Wadsworth, formerly at Freeport, Hillgrove, TPG and Goldmex.
* Colin Rothnie formerly Kenmares Competent Person at Moma in Mozambique on mineral sands.
* Greg Nowak, formerly, Hog Ranch (Nevada) and was responsible for Perseus discover at Grumsea in Ghana
Conclusion: We are particularly keen on the potential for further discovery in Oman.
The deal with Gentor is a largely and effectively a no-win, no-fee schedule with $3m out of the $3.8m cash commitment to be paid following the discovery resources and on the decision to develop the assets.
New geophysical techniques should better define the VMS targets sitting around the current resource and will hopefully bulk up the project sufficiently to enable planning for an economic mine plan around a central concentrator.
We see Oman as a friendly nation which is looking to diversify its economy away from dependency on oil and gas and we believe proposals mining and mineral processing should be well supported by the authorities.
[Savannah7 (2)]
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
7 May 2014
Savannah Resources Plc
Expansion of Technical Team in Mozambique and Oman
Savannah Resources plc (AIM: SAV) announces that it has appointed three experienced geoscientists to manage the Companys fast paced exploration programmes in Mozambique and Oman.
These technical appointments will support Savannah in defining a maiden resource at its Jangamo Heavy Mineral Sands Project in Mozambique and help the Company deliver on its strategy of becoming a mid-tier copper development company and producer in Oman.
Savannahs CEO, David Archer said, We have assembled a high calibre team of very capable senior executives to lead and develop the Companys exciting mineral sands project in Mozambique and our soon to be acquired copper projects in Oman.
The quality of the team will help Savannah quickly advance its exploration portfolio as we remain focussed on adding significant value to our prospective portfolio of projects.
Mozambique Exploration Manager
Savannah has secured the services of the experienced geologist Dean Wadsworth who graduated with a Bachelor of Science from the University of Auckland and has over 28 years experience in the exploration industry.
Much of Deans exploration work has been gold and copper focussed around the Pacific region, working primarily on the island of New Guinea in Papua New Guinea (PNG) and Indonesian Papua, along with New Zealand, Canada, Mexico, Ghana, Australia, and more recently Mozambique.
He has led a number of large exploration programmes in these culturally diverse areas especially PNG and Indonesia with much success in achieving project goals.
He has worked with a mix of major and junior companies including Freeport Indonesia, Hillgrove Resources Limited, Triple Plate Junction Plc and Goldminex Resources Limited and brings a wealth of experience to the role.
Mozambique Exploration Professional
In addition to the new exploration managers Savannah has contracted a highly experienced mineral sands geologist, Colin Rothnie, to provide technical support in Mozambique.
Colin has a wealth of experience exploring and developing mineral sands deposits and was the Technical Manager - Mining at Kenmares Moma titanium minerals project in the Nampula Province in Mozambique, supervising the geology, mine planning and survey teams.
He spent seven years in Mozambique helping Kenmare develop this resource and held the role of Competent Person for their reserves and resources.
Prior to this Colin worked in a number of Australian based roles within the mineral sands sector.
Oman Exploration Manager
Greg Nowak has been appointed to the role of Exploration Manager for Oman.
Greg is a well-credentialed geologist and brings over 25 years hands-on experience in all phases of exploration for gold, uranium, base metals, diamonds and petroleum in West Africa, the western and south-western United States, Canada and South America.
This includes 20 years of gold exploration field and management experience in the Precambrian Birimian greenstone belts and Archan greenstone belts of West Africa (Ghana, Cte dIvoire, Mali, Burkina Faso, Liberia, Sierra Leone and Niger).
Greg was a member of the exploration field team that discovered the Noranda (WMC) Hog Ranch Gold Deposit in northwest Nevada, USA and was responsible for the initial grassroots discovery of the Grumesa Gold Deposit in Ghana, Africa, currently being developed by Perseus Mining Ltd.
**ENDS**
For further information please visit www.savannahresources.com or contact:
David Archer
Savannah Resources plc
Tel: +44 20 3664 9330
James Maxwell / Jen Boorer
N+1 Singer
Tel: +44 20 7496 3000
Felicity Edwards/ Charlotte Heap
St Brides Media & Finance Ltd
Tel: +44 20 7236 1177
About Savannah
Savannah Resources Plc (AIM: SAV) is a multi-commodity focussed exploration and development company.
Through its 80% ownership of Matilda Minerals Limitada it operates the Jangamo exploration project in a world class mineral sands province in Mozambique which borders Rio Tintos Mutamba deposit, one of two major deposits Rio Tinto has defined in Mozambique, which collectively have an exploration target of 7-12Bn tonnes at 3-4.5% THM1 (published in 2008).
Savannah also holds the right to two copper projects in the highly prospective Semail Ophiolite Belt in Oman.
The projects, which have an Indicated and Inferred Mineral Resource of 1.7Mt @ 2.2% copper and high grade intercepts of up to 56.35m at 6.21% Cu, provide Savannah with an excellent opportunity to potentially evolve into a mid-tier copper producer in a relatively short time frame.
Together with its Omani partners Savannah will look for ways to aggregate and explore as many opportunities as possible to provide the critical mass for a central operating plant to develop the deposits.
In addition, Savannah owns an effective 20.9% strategic shareholding in Alecto Minerals Plc which provides Savannah with exposure to both the highly prospective Kossanto Gold Project in the prolific Kenieba inlier in Mali and also to the Wayu Boda and Aysid Meketel gold / base metal projects in Ethiopia for which Alecto has a joint venture with Centamin Plc.
Under this joint venture, Centamin Plc is committing up to US$14m in exploration funding to earn up to 70% of each project.
The Company is also evaluating additional opportunities to expand its portfolio and geographical focus.
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Charlotte Heap
St Brides Media & Finance Ltd
3 St Michaels Alley, London, EC3V 9DS
www.stbridesmedia.co.uk
Tel: 020 7236 1177 | Mob: 07771862283 | Twitter: @StBrides1