Savannah trumpets maiden resource
Out-of-favour Savannah Resources (SAV) says there is scope for further exploration at its southern African Jangamo heavy mineral sands project in Mozambique after declaring a maiden resource there of 65 million tonnes in the relatively tentative ‘inferred’ category with 4.2% total heavy minerals. Based in London and quoted on AIM, the company holds 80% of the company operating the Jangamo project, which is next to mining giant Rio Tinto’s major Mutamba deposit, and, says chief executive officer David Archer, ‘will now look to assess a number of promising commercial and strategic options’ for the project.
