Savannah Goldfields Targets Up to 265,000 Ounces in New Gold Exploration Zones

Progress Towards Production Restart

Savannah Goldfields Limited (ASX, SVG) has provided a comprehensive update on its efforts to recommence gold mining and processing operations at its Georgetown Gold Processing Plant and associated projects in Queensland. The company has begun transporting approximately 850 tonnes of crushed ore from stockpiles at Agate Creek to the Georgetown plant, marking a significant milestone achieved ahead of schedule.

This early movement of ore is part of a broader plan to cart over 13,000 tonnes from existing stockpiles in the Georgetown and Agate Creek areas starting in July, preparing for a full-scale processing restart. The Georgetown plant, strategically located in the Gulf Savannah region, remains in good condition following recent maintenance inspections.

Leadership and Operational Readiness

To steer the restart, Savannah has appointed Bob Hayes as Operations Manager, bringing extensive mining operations experience to lead the resumption of activities. Complementing this, Pat Smith, a seasoned exploration manager with deep knowledge of northern Queensland’s gold fields, has been engaged to develop exploration strategies aimed at unlocking further value from Savannah’s tenement portfolio.

Mining activities are set to recommence initially at the Big Reef project, with geotechnical advice and an open pit mine design already completed. Concurrently, the company is advancing maintenance and restorative work at the processing plant to ensure operational readiness.

Environmental and Infrastructure Progress

Environmental approvals remain a critical path item. Savannah is actively preparing applications to update environmental authorities for Georgetown and Agate Creek, including approvals for phased capacity increases at the tailings storage facility (TSF). These upgrades are designed to support mining and processing activities through to June 2028. The company’s environmental team, alongside specialist consultants, is also reviewing historical disturbance sites to ensure compliance with current statutory requirements.

Exploration Targets and Resource Growth

Exploration efforts have identified three new gold targets at Red Dam, Electric Light, and Big Reef, with potential to add between 63,000 and 265,000 ounces of gold to Savannah’s mineral inventory. These targets remain conceptual but represent promising avenues for resource expansion. Work is also underway to update existing Mineral Resource estimates, including those at Agate Creek and Jubilee Plunger, with results expected in the third quarter of 2025.

The company has engaged a mining engineer to explore the classification of Ore Reserves at Agate Creek, signaling a move towards converting resources into economically mineable reserves.

Looking Ahead

With multiple workstreams advancing, from ore transport and mine design to environmental approvals and exploration, Savannah Goldfields is positioning itself for a robust restart of gold production. The company’s integrated approach, combining operational readiness with resource growth initiatives, aims to unlock value for shareholders and strengthen its foothold in Queensland’s gold mining sector.