Savannah Goldfields has announced a new gold Exploration Target at its Phily’s Deposit within the Georgetown Project, adding to its growing portfolio of promising near-surface resources.
- Fifth Exploration Target identified at Phily’s Deposit
- Estimated 50,000 to 150,000 tonnes at 1.2 to 2.5 g/t gold
- Target lies within 20 metres of surface, 50 km from processing plant
- Supported by historical drilling, trenching, mapping, and assays
- Part of Savannah’s ‘Hub and Spoke’ strategy to extend plant feed sources
New Target Adds Depth to Georgetown Portfolio
Savannah Goldfields Limited (ASX – SVG) has revealed a fifth gold Exploration Target at the Phily’s Deposit, part of its wholly owned Georgetown Project in Queensland. This latest target is estimated to contain between 50,000 and 150,000 tonnes of ore grading from 1.2 to 2.5 grams per tonne of gold, situated within 20 metres of the surface. Located approximately 50 kilometres from Savannah’s Georgetown Processing Plant, the target offers a potentially accessible source of feed for the company’s operations.
Building on Historical Data
The Phily’s Exploration Target is underpinned by a comprehensive review of historical drilling, surface trenching, geological mapping, and assay data. The mineralisation is associated with extensive quartz veining within metamorphosed sediments, which may be influenced by stratigraphic controls. The zone extends over roughly 3,000 metres of strike length and is characterized by sub-vertical quartz veins averaging 1.5 to 2 metres in width. Despite the encouraging data, Savannah cautions that the target remains conceptual, with insufficient exploration to classify it as a Mineral Resource under JORC standards.
Strategic Fit Within ‘Hub and Spoke’ Model
This new target complements four other recently identified Exploration Targets at Georgetown; Jubilee Plunger, Red Dam, Electric Light, and Big Reef; each varying in size and grade. Together, these targets form a critical part of Savannah’s ‘Hub and Spoke’ strategy, designed to source multiple ore feeds to sustain and potentially extend the life of the Georgetown Processing Plant. CEO Brad Sampson highlighted that these discoveries could underpin longer-term production plans as the company advances towards restarting mining and processing activities.
Next Steps and Exploration Outlook
Savannah plans to commence further exploration work in 2026, including infill and extensional drilling, updated geological modelling, and metallurgical testing to better define the nature of the mineralisation and its oxide versus sulphide distribution. These efforts aim to convert the Exploration Target into a JORC-compliant Mineral Resource, which would provide greater clarity on the deposit’s economic potential. The company is currently finalizing its exploration program and will provide updates as the work progresses.
Balancing Opportunity with Caution
While the Phily’s target offers promising potential, Savannah acknowledges the conceptual nature of the estimate and the uncertainties inherent in historical data quality and the absence of metallurgical test results. The company’s methodical approach to validating these targets reflects a prudent balance between optimism and the rigour required to advance exploration projects responsibly.
Bottom Line?
Savannah’s expanding suite of Exploration Targets at Georgetown signals promising growth potential, but the path to resource definition and production remains a careful journey.
Questions in the middle?
- Will the planned 2026 drilling confirm the continuity and grade of the Phily’s target?
- How might metallurgical characteristics influence processing strategies for the new target?
- What timeline does Savannah envision for converting these Exploration Targets into mineable resources?