Savannah Goldfields Limited is making headlines with its recent advancements in gold exploration and production. The company has reported promising results from its Big Reef deposit and is now pivoting operations to the Electric Light front as it gears up to resume production at its Georgetown Gold Processing Plant. This strategic shift marks an exciting phase for the company and its stakeholders.
Promising Results from Big Reef
The recent exploration drilling program at the Big Reef and Big Reef Extended Prospects has yielded substantial results. Savannah has completed 15 reverse circulation (RC) drill holes, with samples collected and sent to an independent laboratory in Townsville for analysis. The anticipation surrounding these results is palpable, as they could significantly impact the company’s gold inventory.
Brad Sampson, the CEO of Savannah, expressed enthusiasm about the ongoing exploration efforts. He stated, “We are excited to be well underway with exploration drilling in areas with potential to expand our gold inventory.” This sentiment underscores the company’s commitment to not only increasing its resource base but also enhancing its operational capabilities.
Strategic Shift to Electric Light
As Savannah transitions its focus to the Electric Light front, the company has outlined plans for six RC drill holes in the current campaign. These holes aim to test the down dip and strike extensions of known gold mineralization. The Electric Light Prospect, located 27 kilometers north of the Georgetown Gold Processing Plant, is situated within ML3458 and extends into EPM8545.
The current inferred mineral resource at Electric Light stands at 388,000 tonnes at 3.7 g/t Au, containing approximately 46,000 ounces of gold. The exploration target for Electric Light is ambitious, aiming for 100,000 to 200,000 tonnes at grades ranging from 2.0 to 5.0 g/t Au, which could yield between 6,000 and 32,000 ounces of gold.
Upcoming Drilling Campaigns
Following the completion of the planned RC drilling at Electric Light, Savannah intends to mobilize a diamond drill rig to Georgetown in the first half of October. This campaign will involve four to eight diamond drill holes, further exploring the potential of the deposits.
The initial results from the Big Reef samples are expected within four weeks. The RC program is designed to test portions of the deposit structures where strike extensions of approximately 1,500 meters have shown anomalous gold, identified through a previous rock chip sampling program. These extensions could potentially expand the existing inferred mineral resource of 107,000 tonnes at 3.0 g/t Au, which contains around 10,000 ounces of gold.
The Road Ahead
Mining operations at the Big Reef deposit are planned to commence in October, marking a significant milestone for Savannah Goldfields. The company’s strategic focus on both the Big Reef and Electric Light prospects reflects a well-rounded approach to resource development, ensuring a sustainable and profitable future.
As the industry gears up for the WA Mining Conference taking place from October 8–9, Savannah Goldfields is poised to showcase its advancements and engage with stakeholders. The excitement surrounding the company’s exploration and production plans is indicative of a promising future in the gold mining sector.
In conclusion, Savannah Goldfields Limited is at a pivotal moment in its journey, with substantial exploration results and strategic operational shifts that could redefine its gold production capabilities. As the company continues to explore and develop its resources, stakeholders and investors alike will be watching closely for the next chapter in this unfolding story.
English 