Savannah Resources: Ravene Drill Program Completed at Mutamba
February 01 2017 - 4:28AM
Dow Jones News
LONDON--Savannah Resources PLC (SAV.LN) said Wednesday it has
completed drilling at the Ravene deposit in Mozambique.
Savannah said the analysis is expected to be completed in
February with results available thereafter. Results will be used to
estimate an initial inferred resource over the Ravene prospect to
potentially increase the Mutamba project's recently defined initial
indicated and inferred mineral resource estimate of 3.5 billion
tons at 3.8% total heavy minerals, Savannah said.
The Ravene deposit forms part of the Mutamba mineral sands
project, being developed by Savannah and Rio Tinto PLC as part of a
consortium agreement.
Shares at 085 GMT flat at 6 pence, valuing the company at
GBP26.5 million.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
(END) Dow Jones Newswires
February 01, 2017 04:13 ET (09:13 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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