(MENAFN- Muscat Daily) Savannah Resources Plc a multicommodity- focused exploration and development company has announced that it has received positive and encouraging results form its recent re-processing of an electromagnetic airborne survey of its copper project in Oman.
Savannah owns interests in Oman's Block 5 and Block 6 copper projects which together cover 870sq km of the highly prospective copper-rich seminail ophiolite belt in Oman – proven to host clusters of moderate to high grade copper deposits with gold credits and metallurgically simple ores. Blocks 5 and 6 are located 40km and 60km south of Sohar port respectively.
Earlier in July Savannah had completed the acquisition of interests in Block 5 and Block 6 copper projects in Oman from Toronto Canada-based Gentor Resources Inc.
In a statement on its website Savannah said that its multifaceted exploration programme is now well underway with a view to commencing drilling in the fourth quarter of 2014. The company said a site office and operational base has been established in Sohar.
David Archer CEO of Savannah said 'We are particularly please with these highly encouraging results from the reprocessing of the electromagnetic airborne survey. These new results point towards the real possibility that a number of clusters of volcanic massive sulphide (VMS) deposits are present within the tenements.'
He added 'These early results underscore Savannah's strategy that through the application of systematic exploration an excellent opportunity exists in Oman to build a significant midtier copper producer around the development of clusters of moderate to high grade copper deposits utilising a central processing facility.'
Archer said that the company's copper project in Oman benefits from close proximity to Sohar port bitumen roads across the license areas and adjacent power lines low fuel and labour costs in addition to a favourable fiscal and tax regime.
Savannah said initially it will be focused on evaluating potential open-pittable copper targets at Block 5 during the first two years of exploration.
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