Savannah Goldfields has reported highly anomalous gold assays from rock chip samples at its Big Reef prospects in North Queensland, prompting the start of a targeted drilling campaign to explore resource expansion.
- 20 rock chip samples collected with assays up to 26.1 g/t gold
- Gold mineralisation confirmed along 1 km strike of Big Reef Extended shear zone
- Existing Inferred Mineral Resource at Big Reef stands at ~10,000 oz gold
- Initial 15-20 hole Reverse Circulation drilling program commencing imminently
- Drilling to be followed by exploration at Electric Light and Red Dam deposits
High-Grade Surface Sampling Validates Exploration Potential
Savannah Goldfields Limited has announced encouraging results from a recent rock chip sampling program at its Big Reef and Big Reef Extended prospects, located just south of Forsayth in North Queensland. The 20 samples collected from surface outcrops along the gold-bearing shear zones yielded assays as high as 26.1 grams per tonne (g/t) gold, with over half the samples exceeding 0.5 g/t. These findings reinforce the potential for significant gold mineralisation beyond the known resource boundaries.
Building on an Established Resource Base
The Big Reef area already hosts an Inferred Mineral Resource estimated at approximately 107,000 tonnes grading 3.0 g/t gold, equating to around 10,000 ounces of contained gold. Historical mining and recent exploration have focused on this deposit, but the newly sampled strike extensions, particularly the Big Reef Extended shear zone, suggest that the mineralised system could be more extensive than previously understood.
Drilling Program to Test Shallow Oxide Gold
In response to these promising surface results, Savannah Goldfields is launching an initial Reverse Circulation (RC) drilling program comprising 15 to 20 holes targeting shallow oxide gold mineralisation within 20 to 25 meters of surface. This campaign aims to validate and potentially expand the existing Exploration Target announced earlier this year. The drilling is expected to take about a week, after which the rig will move to the Electric Light and Red Dam deposits for further exploration.
Strategic Exploration in Georgetown Gold Project
Big Reef is part of Savannah’s broader Georgetown Gold Project, which includes several deposits with combined Mineral Resources nearing 950,000 tonnes at grades ranging from 2.5 to 5.7 g/t gold. The company’s CEO, Brad Sampson, highlighted the importance of testing these strike extensions to increase feedstock for the Georgetown processing plant, underscoring a methodical approach to unlocking value across the project’s multiple prospects.
Looking Ahead, Validation and Resource Growth
While the Exploration Target remains conceptual and subject to further validation, the combination of high-grade surface assays and planned drilling positions Savannah Goldfields to potentially upgrade and expand its resource base. Metallurgical testing and structural analysis will follow to better understand the deposit’s characteristics and economic viability. Investors will be watching closely as assay results from the drilling program emerge in the coming months.
Bottom Line?
Savannah’s imminent drilling at Big Reef could mark a pivotal step in expanding its gold resources and advancing the Georgetown project’s development.
Questions in the middle?
- Will the upcoming drilling confirm the extent and continuity of high-grade gold mineralisation along Big Reef Extended?
- How might metallurgical characteristics of the oxide and sulphide zones impact future processing strategies?
- What are the timelines and potential scale for upgrading the Exploration Target to a formal Mineral Resource?