SAVANNA RESOURCES LTD. SURINAME GOLD EXPLORATION UPDATE
CALGARY, Sept. 8 /CNW/ - Based on high-grade gold assays obtained from
quartz vein material and spectacular nuggets recovered from the alluvium,
Savanna Resources Ltd. reports it is now focusing exploration of its 15,000
hectare Lawa permit in Suriname on a six square kilometre north-south zone in
the southwest quarter of the permit.
Exploration over the past year has now established the Lawa permit,
located within the main gold-bearing greenstone belt of eastern Suriname, as a
prime target for bedrock deposits of economic grade. Gold is present in the
alluvials throughout this area, with all streams crossing the mineralized zone
having been placer mined in the past. The northern third of the trend lies
within an area from which a UN survey reported exceptionally high panned and
bedrock gold values. A continuous chip sample of quartz vein material taken
by Savanna's consultant this summer returned 2.43 ounces gold per ton across 3
m. The whole area is underlain by felsic intrusive rocks, in contact with
mafic volcanic rocks to the west. Quartz veining occurs in both units.
Panning results indicate the mineralized area is open to the east.
Two kilometres to the south, alluvial mining conducted in 1996-97
recovered a documented 360 ounces of gold, much in nuggets, the largest of
which weighed 22 ounces.
Four kilometres further south, in the area where Savanna conducted a
pilot alluvial operation earlier this year, a sample of sheared quartz vein
material taken from the top of the weathered bedrock in the bottom of pit 8
assayed 4.2 ounces gold per ton.
These discoveries of high grade gold in quartz and the ubiquitous
presence of alluvial gold over a six square kilometre area clearly demonstrate
the potential for a major bedrock gold occurrence. An expanded follow up
program is planned.
John M. Alston
President
The Alberta Stock Exchange has neither approved nor disapproved the
information contained herein.
Visit our Website at www.savanna.net
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For further information: John M. Alston, 1 (800) 793-8370 Fax: (403)
261-2866 |
