Savannah Goldfields Nears Gold Pour as Exploration Yields High-Grade Hits
Savannah Goldfields is on the cusp of restarting gold production at its Georgetown plant, backed by promising exploration results and a $15 million capital raise to fund growth and debt repayment.
- Gold production restart imminent at Georgetown processing plant
- High-grade gold intercepts reported at Big Reef and Electric Light
- Environmental approvals secured for processing and tailings expansion
- Mining at Big Reef to commence soon; Agate Creek mining planned for Q2 2026
- Successful $15 million placement strengthens balance sheet and funds exploration
Restarting Production Amid Strong Gold Prices
Savannah Goldfields Limited is advancing steadily towards resuming gold production at its Georgetown Gold Processing Plant (GGPP), leveraging existing stockpiles and new mining at the Big Reef deposit. With gold prices holding above A$6,000 per ounce, the company is well positioned to capitalise on favourable market conditions. Restorative maintenance at the plant is progressing on schedule, with the first gold pour targeted imminently, marking a significant milestone after a period of inactivity.
Exploration Success Fuels Resource Growth
Exploration drilling at Big Reef and the Electric Light prospect has delivered encouraging high-grade gold intercepts, including standout results such as 7 metres at 5.34 grams per tonne gold at Big Reef and 7 metres at 9.92 grams per tonne at Electric Light. These results not only validate existing mineral resources but also open avenues for near-term feedstock to the processing plant. Further drilling programs are planned to deepen understanding and expand these resources, underpinning Savannah’s growth ambitions.
Environmental and Regulatory Progress
The company secured key environmental approvals to process Big Reef material and expand the tailings storage facility at Georgetown, ensuring compliance and operational readiness. An application to amend the Agate Creek Environmental Authority is nearing submission, paving the way for mining and processing activities at Agate Creek to commence in the second quarter of 2026. These regulatory steps are critical to unlocking the full potential of Savannah’s asset portfolio.
Capital Raising Strengthens Financial Position
In August and October 2025, Savannah completed a $15 million placement, attracting strong support from both new and existing investors, including significant participation from Chairman Stephen Bizzell and major shareholder Wes Maas. The funds will be used to repay senior secured debt, recommence production, and finance an extensive 80-hole drilling program targeting priority exploration areas. This capital injection significantly bolsters the company’s balance sheet and operational flexibility.
Strategic Vision – Hub and Spoke Model
Savannah is advancing its hub and spoke strategy, positioning the Georgetown processing plant as a regional hub within a 400-kilometre radius. This approach aims to process ore from multiple stranded deposits and third-party miners, unlocking value from under-explored sulphide mineralisation historically left behind. The company is also progressing designs to modify the plant for sulphide ore processing, which could further extend the life and scale of operations in the region.
Bottom Line?
With production restart imminent and exploration success fueling growth, Savannah Goldfields is poised for a transformative phase; investors will watch closely as first gold pours and further drilling results unfold.
Questions in the middle?
- Will Savannah meet its target for the first gold pour at Georgetown within the next week?
- How will the pending amendment to the Agate Creek Environmental Authority impact the timeline for mining there?
- What are the prospects and timelines for expanding sulphide ore processing capabilities at the Georgetown plant?
