Savannah Goldfields Ltd (ASX:SVG) Continues Exploration Drilling at Georgetown Gold Project
26 September 2025
Price Sensitive Announcement
Highlights:
- Reverse Circulation (RC) exploration drilling programme of 15 holes has now been completed at the Big Reef and Big Reef Extended Prospects.
- Drill hole samples have been collected and delivered to an independent assay laboratory in Townsville for analysis with initial results expected within 4 weeks.
- This RC drilling programme was designed to test portions of the Big Reef Extended and the Big Reef structures where strike extensions of approximately 1,500 metres
contain anomalous gold that was identified by a rock chip sampling programme. - These strike extensions of the gold mineralised structures present potential to increase the existing Big Reef Inferred Mineral Resource of 107,000 tonnes at 3.0 g/t Au
containing approximately 10,000 oz Au. - Savannah also continues to progress towards commencement of mining activities from the Big Reef deposit from the area of the existing Inferred Mineral Resource with mining planned to commence in October following the receipt of required Environmental Authorisations this week.
- The RC drill rig has been relocated to Electric Light and further exploration drilling is progressing at Electric Light as planned.
- 6 RC drill holes are planned to be drilled in this campaign at Electric Light to test the down dip and strike extensions of known gold mineralisation.
- The Electric Light Inferred Mineral Resource is 388,000 tonnes at 3.7 g/t Au containing 46,000 oz Au.
- Gold mineralisation at Electric Light remains open along strike and down dip from the Inferred Mineral Resources.
- Following completion of the planned RC drilling at Electric Light, the Company plans to mobilise a Diamond Drill rig to Georgetown in the first half of October to undertake a 4 to 8 hole diamond drilling campaign at Electric Light and then the Red Dam Prospects.
Overview:
Savannah Goldfields Limited has announced that the focus of the current exploration drilling campaign has shifted as planned from Big Reef to Electric Light. The Electric Light Deposit is situated close to the Georgetown Gold Processing Pant (GGPP) within the Company’s Georgetown Gold Project approximately 480 km southwest of Cairns, in Far North Queensland.
ELECTRIC LIGHT EXPLORATION DRILLING
Electric Light is located approximately 27km north of the Company’s Georgetown Gold Processing Plant in far north Queensland as shown in Figure 1. The Electric Light Deposit sits within ML3458 and the Electric Light Prospect extends into EPM8545, with both tenements held by the Company.
An initial exploration drilling programme consisting of 6 RC drill holes is underway and drilling is progressing rapidly and expected to be concluded within 7 days.
During October the Company plans to undertake a 4 to 8 hole Diamond Drilling campaign at Electric Light to further test the extensions of the known gold mineralisation and to provide
samples for metallurgical testing.
The Electric Light Inferred Mineral Resource is 388,000 tonnes at 3.7 g/t Au and contains 46,000 oz Au (refer Savannah’s ASX announcement on 7 February 2022 titled ‘Georgetown
Project Mineral Resources’).
In addition to the Mineral Resource, the Electric Light Exploration Target is 100,000 to 200,000 tonnes at grades between 2.0 and 5.0 g/t Au containing between 6,000 and 32,000 oz Au
(refer to Savannah’s ASX announcement 14 May 2025 titled “Further Georgetown Project Exploration Target Electric Light”).
The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource in that area and it is uncertain if
further exploration will result in the estimation of a Mineral Resource. The basis for the Exploration Target is stated in Appendix 2.
The exploration drilling underway at Electric Light will contribute to the validation of the Electric Light Exploration Target.
BIG REEF AND BIG REEF EXTENDED DRILLING
The Big Reef and Big Reef Extended prospects are located approximately 4km south of the town of Forsyth in North Queensland as shown in Figure 3. The prospects are contained within
the Company’s Tenements ML3278, ML3279, ML3280 and EPM15547.
RED DAM EXPLORATION DRILLING
The Company is planning to mobilise a Diamond Drilling rig to Georgetown in October.
Following completion of between 4 and 8 PQ diameter diamond drill holes at Electric Light, the Company plans to drill up to 4 diamond drill holes at the Red Dam Prospect (shown in Figure 4) to obtain samples for metallurgical test work. In addition to the metallurgical holes, 6 RC drill holes are also planned to test for additional gold mineralisation down dip of existing Inferred Mineral Resources
The initial RC drilling programme at Big Reef has now been completed with15 RC holes drilled, to depths of up to 25 metres to test the shallow oxide gold potential of Big Reef Extended and
Big Reef. The Company has collected samples from the RC drilling and these have been submitted to an independent assay laboratory for multiple element assay with initial assay results expected within 4 weeks.
Company Notes:
Savannah Goldfields CEO Brad Sampson commented: “We are excited to be well underway with exploration drilling in areas with potential to expand our gold inventory, provide near term feed stocks and extend the oxide processing life at the Georgetown Gold Processing Plant.”
Full ASX Announcement: https://hotcopper.com.au/threads/ann-georgetown-gold-project-exploration-drilling-update.8790112/