Savannah Goldfields Launches 80-Hole Drilling to Extend Georgetown Gold Feed

Exploration Drive to Extend Gold Production

Savannah Goldfields Limited (ASX, SVG) has unveiled an ambitious exploration program designed to expand its gold resource base around the Georgetown Gold Processing Plant (GGPP) in Far North Queensland. The company plans to drill 80 reverse circulation (RC) holes totaling 2,355 metres across three key deposits, Big Reef, Red Dam, and Electric Light. This initiative, set to begin in September 2025, aims to identify additional shallow oxide gold mineralisation that could provide vital near-term feedstock for the processing plant.

CEO Brad Sampson emphasised the strategic importance of this campaign, noting that each exploration target holds promise to extend the operational life of the Georgetown processing facilities. The program also marks the first phase in validating five new exploration targets announced earlier this year, including Jubilee Plunger and Phily’s deposits.

Targeting Oxide and Sulphide Gold Zones

The exploration focus is twofold, to find more oxide gold near surface, which is easier and cheaper to process, and to better understand the sulphide gold potential at depth. The Big Reef, Red Dam, and Electric Light deposits remain open along strike and at depth, with historic data suggesting significant upside for both oxide and sulphide mineralisation.

At Big Reef, the drilling will test approximately 1,500 metres of strike extensions, including a parallel shear zone known as Big Reef Extended, which has shown promising gold anomalies. Red Dam’s program targets up to 1,000 metres of strike extension, with additional mapping and sampling planned to explore a parallel shear zone south of the main structure. Electric Light will see drilling focused on a 300-metre southwest strike extension, with plans to also investigate sulphide zones that could support future processing upgrades.

Production Resumption and Resource Base

Savannah intends to resume gold production at the Georgetown plant in the latter half of 2025, processing about 13,000 tonnes of stockpiled ore alongside 18,000 tonnes mined from Big Reef. Mining and processing activities at the Agate Creek Project, located roughly 100 kilometres south of Georgetown, are targeted to restart in the second quarter of 2026, pending environmental approvals.

The company’s current Ore Reserve at Agate Creek stands at 460,000 tonnes grading 2.5 grams per tonne gold, containing approximately 36,800 ounces of gold. Additionally, Savannah holds a substantial Mineral Resource of 16.4 million tonnes at 1.02 grams per tonne gold, equating to 541,000 ounces, spread across Agate Creek and Georgetown tenements. Exploration Targets in the Georgetown area suggest potential for an additional 69,000 to 303,000 ounces of gold, underscoring the upside from ongoing drilling.

Operational and Environmental Considerations

Before drilling can proceed fully, Savannah is completing cultural heritage surveys and updating landowner agreements across multiple mining leases and exploration permits. The company is also advancing work to secure updated Environmental Authorities necessary for sustained mining and processing operations at both Georgetown and Agate Creek.

Metallurgical test work is planned on core samples from deeper sulphide zones, which could inform future processing circuit enhancements to handle sulphide gold material, potentially extending the plant’s productive life beyond oxide ore availability.

Looking Ahead

This exploration campaign represents a critical step in Savannah Goldfields’ strategy to bolster its gold inventory and operational flexibility. By targeting both oxide and sulphide mineralisation, the company aims to smooth production profiles and mitigate risks associated with feedstock shortages, particularly during challenging seasonal conditions.