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Laneway Resources Ltd. ( (AU:SVG) ) has issued an announcement.
Savannah Goldfields Limited has announced a new gold Exploration Target at the Big Reef Deposit within its Georgetown Project. This target, comprising the Big Reef Main and Big Reef Extended zones, is estimated to hold between 190,000 and 420,000 tonnes of gold with grades ranging from 2.0 g/t to 3.5 g/t. The company plans to recommence mining at Big Reef as part of its strategy to resume gold production, leveraging its ‘Hub and Spoke’ strategy to provide multiple sources of feed into the Georgetown Processing Plant. This development is part of Savannah’s broader efforts to identify and develop additional mineral resources across its project portfolio, which could potentially extend the processing life at the Georgetown plant and support long-term operations.
More about Laneway Resources Ltd.
Savannah Goldfields Limited is a company operating in the gold mining industry, focusing on exploration and production. The company owns the Georgetown Project, which includes various gold deposits and processing facilities. Savannah’s market focus is on expanding its mineral resources and resuming gold production operations.
Average Trading Volume: 601,737
Technical Sentiment Signal: Sell
Current Market Cap: A$23.97M
See more insights into SVG stock on TipRanks’ Stock Analysis page.