Savannah Resources (LON:SAV) has announced its drill program at the Jangamo heavy minerals sands property has confirmed the mineralization might be extending over several kilometers as the company has encountered decent-grade HMS mineralization such as 24 and 33 meters of in excess of 5% HMS. Keep in mind the total strike length of the strandline target is approximately 15 kilometers which could result in a lot of tonnes being incorporated in the resource estimate.
The Jangamo project could be an important exploration project as its adjacent to a major HMS project owned by Rio Tinto (NYSE:RIO). On top of that, several holes at the project have intersected mineralization close to surface and this could make it quite easy (and cheaper) to mine the project.
Meanwhile, the company has identified several high-priority drill targets in Oman where the company is targeting copper mineralization. An EM survey has already been completed and Savannah has started a small 10-hole diamond drill program on the property and plans to complete 1000-1200 meters of drilling.
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Disclosure: The author holds no position in Savannah Resources. Please see our disclaimer for current positions.
