Electric Light Drilling Yields 30m at 2.70 g/t Gold Including 3m at 19.04 g/t

Drilling Success at Electric Light

Savannah Goldfields Limited (ASX – SVG) has announced encouraging assay results from its December 2025 Reverse Circulation (RC) drilling campaign at the Electric Light prospect, located roughly 20 kilometres north of Georgetown in far north Queensland. The eight holes drilled, totalling 842 metres, were designed to test extensions of known gold mineralisation both down dip and along strike.

Six of these holes intersected gold mineralisation, with three delivering significant high-grade zones. The standout intercept was recorded in hole EL25RC1019, which returned 30 metres at 2.70 grams per tonne (g/t) gold from 95 metres depth, including a remarkable 3 metres at 19.04 g/t gold. Other notable intercepts included 7 metres at 3.68 g/t gold from hole EL25RC1021 and 22 metres at 2.59 g/t gold from hole EL25RC1024, featuring multiple higher-grade intervals.

Geological Context and Historical Background

The Electric Light deposit sits within Savannah’s Georgetown Gold Project and is hosted in a brecciated rhyolite dyke intruding a major fault zone known as the Delaney Fault. This geological setting is typical of hydrothermal gold deposits with porphyry-style alteration and sulphide veining, including arsenopyrite and minor galena and sphalerite. The mineralised zone dips steeply southeast and varies in thickness, with higher-grade gold associated with increased vein density.

Electric Light has a history of small-scale mining, with Deutsche Rohstoff Australia Pty Ltd previously extracting approximately 23,000 tonnes of oxide ore at a high grade of 8.7 g/t gold from a shallow open pit in 2011. Savannah’s recent drilling aims to expand the known mineralisation and better define the resource for potential development.

Resource Update and Metallurgical Testing

The current inferred mineral resource at Electric Light stands at 388,000 tonnes at 3.70 g/t gold, as reported in 2022. Savannah is now incorporating the new assay data into its database with plans to update this resource estimate. This update could reflect growth in both tonnage and grade, given the high-grade intercepts recently reported.

Parallel to resource modelling, metallurgical test work is underway on diamond drill core from the earlier phase of the campaign. The first phase involves gravity recovery and cyanidation testing, with a second phase planned to include flotation tests. These studies are critical to understanding the ore’s processing characteristics and will inform future mining and processing strategies.

Next Steps – Mining Studies and Further Exploration

CEO Brad Sampson highlighted the strategic advantage of Electric Light’s proximity to Savannah’s Georgetown Gold Processing Plant, just 30 kilometres away by road. The company intends to assess opportunities for further open pit mining and undertake a scoping study for underground mining at the prospect. Additional drilling is also anticipated to test extensions along strike and at depth, as the deposit remains open.

These developments position Electric Light as a potentially significant contributor to Savannah’s portfolio, with the potential to enhance the company’s production profile and project valuation in the near term.