Savannah Goldfields has restarted exploration drilling at its Georgetown Gold Project, targeting resource upgrades at Electric Light and Red Dam prospects. The company aims to extend known gold mineralisation and enhance metallurgical understanding.
- Diamond drilling underway at Electric Light for metallurgical sampling
- Planned diamond drilling at Red Dam to follow Electric Light program
- Reverse Circulation drilling scheduled to test extensions at both prospects
- Electric Light holds 46,000 oz Au inferred resource; Red Dam 37,000 oz Au
- Resource upgrades expected as mineralisation remains open along strike and down dip
Exploration Drilling Resumes at Georgetown
Savannah Goldfields Limited (ASX, SVG) has announced the recommencement of exploration drilling at its Georgetown Gold Project in Far North Queensland. The project, located approximately 480 kilometres southwest of Cairns, is a key asset for the company, with ongoing efforts to expand and upgrade its gold resources.
Focus on Electric Light and Red Dam Prospects
The current drilling campaign has mobilised a diamond drill rig to the Electric Light Prospect, where the primary objective is to collect metallurgical samples. These samples are critical for understanding the processing characteristics of the ore and will support future development plans. Following completion at Electric Light, the rig will move to the Red Dam Prospect to continue metallurgical sampling there.
Electric Light is notable for its inferred mineral resource of 388,000 tonnes at 3.7 grams per tonne gold, containing approximately 46,000 ounces of gold. Meanwhile, Red Dam holds an inferred resource of 201,000 tonnes at 5.7 grams per tonne gold, equating to around 37,000 ounces. Both prospects have mineralisation that remains open along strike and down dip, indicating potential for resource growth.
Reverse Circulation Drilling to Test Extensions
Complementing the diamond drilling, Savannah plans to deploy a Reverse Circulation (RC) drill rig in early November. The RC program will test down dip extensions of known mineralisation at Red Dam and explore strike and down dip extensions at Electric Light. Additionally, infill drilling at Electric Light aims to upgrade the confidence level of the inferred resource, potentially enhancing its classification and value.
The RC drilling at Red Dam will also target areas beneath historical drill holes from the 1990s to 2010, seeking to delineate further gold mineralisation. The results of this program are expected to inform an updated mineral resource estimate for Red Dam.
Strategic Implications for Savannah Goldfields
This drilling campaign represents a significant step in Savannah’s strategy to advance the Georgetown Gold Project towards development. Metallurgical testwork from diamond core samples will provide essential data for processing design, while resource upgrades could enhance the project’s economic profile. The company’s methodical approach, twinning historical holes and targeting extensions, reflects a disciplined exploration program aimed at maximising resource potential.
With gold mineralisation open at both key prospects, Savannah Goldfields is positioning itself to potentially increase its resource base, which could translate into greater project value and investor interest. The coming months will be critical as assay results and metallurgical reports become available, offering clearer insights into the project’s future trajectory.
Bottom Line?
Savannah’s drilling push at Georgetown could unlock significant resource growth, setting the stage for the next phase of project development.
Questions in the middle?
- What will the metallurgical test results reveal about ore processing potential?
- How much can the inferred resources at Electric Light and Red Dam be expanded?
- When can investors expect updated resource estimates and what impact will they have on project valuation?