Savannah Identifies Up to 420,000 Tonnes Gold Target at Big Reef

Savannah Goldfields Expands Georgetown Project

Savannah Goldfields Limited (ASX – SVG) has announced a significant new development in its Georgetown Project with the identification of an additional gold Exploration Target at the Big Reef Deposit. This target, estimated between 190,000 and 420,000 tonnes with gold grades ranging from 2.0 to 3.5 grams per tonne, represents a potential extension of previously mined zones and existing Inferred Mineral Resources.

Located roughly 50 kilometres from Savannah’s Georgetown Processing Plant and close to the township of Forsayth, Big Reef has a history of open pit mining, with JKO Mining Pty Ltd extracting approximately 22,700 tonnes at 2.5 g/t gold in 2013. The new Exploration Target covers two zones, Big Reef Main and Big Reef Extended, both open along strike and at depth, supported by drilling, surface trenching, mapping, and assaying.

Strategic Importance and Production Plans

This Exploration Target is the third identified at Georgetown, following targets at Red Dam and Electric Light, and is integral to Savannah’s “Hub and Spoke” strategy. This approach aims to source multiple ore feeds to the Georgetown Processing Plant, enhancing operational flexibility and extending processing life. Mining is planned to recommence initially at Big Reef, underscoring its importance as a near-term ore source.

While the Exploration Target remains conceptual and requires further validation through infill and extensional drilling, geological modelling, and metallurgical testing, it offers promising potential to increase oxide feed and support sustained gold production. Savannah’s CEO, Brad Sampson, highlighted the rapid progress in defining these targets and their role in underpinning the company’s production restart.

Next Steps and Exploration Outlook

Further work is planned to advance the Big Reef Exploration Target towards a formal Mineral Resource estimate. This includes detailed structural analysis, drilling to test extensions along strike and at depth, and metallurgical test work to assess oxide versus sulphide material distribution. Savannah is also progressing exploration programs across other Georgetown tenements, with additional targets expected at Phily’s and Jubilee Plunger deposits.

Importantly, the tenements overlap with the Ewamian People’s native title determination area, with negotiations ongoing but not expected to impede development. The company has lodged renewal applications for key exploration permits, maintaining tenure security as it advances its exploration and mining plans.

Overall, Savannah Goldfields’ latest announcement signals a methodical and promising step forward in expanding its resource base and preparing for a sustainable production restart at Georgetown.