Savannah Reports Maiden Resource Estimate for Ravene Deposit
March 27 2017 - 5:20AM
Dow Jones News
LONDON--Savannah Resources PLC (SAV.LN) Monday reported maiden
resource estimate of 900 million tons at 4.1% total heavy minerals
for the Ravene deposit located in Mozambique.
The Ravene deposit is a part of the Mutamba Mineral Sands
Project, being jointly developed by Savannah and Rio Tinto
(RIO.LN).
The exploration company said the new resource estimate
represents a 26% increase in the global mineral resource of Mutamba
and an 8% increase in total heavy minerals, grade compared to the
overall resource.
Shares of Savannah at 0848 GMT trading 10% higher at 6
pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
(END) Dow Jones Newswires
March 27, 2017 05:05 ET (09:05 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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