InvestSMART

Savannah Goldfields Limited (ASX:SVG)

ALERT: Price-sensitive ASX Announcement for SVG
Current share price for SVG : $0.010 0 (0%)+
Announcement
Release
2 Jul 2026 9:15AM
Price at Release
$0.010
Full Release
download
Summary
Savannah Goldfields Limited announced a significant increase in the Mineral Resource for the Red Dam deposit, part of the Georgetown Gold Project in Australia. The updated Mineral Resource is now 396 kt at 4.6 g/t Au, representing a 96% increase in tonnage and a 59% increase in contained gold compared to the 2022 estimate. For the first time, Indicated Mineral Resources have been reported, amounting to 68 kt at 7.9 g/t Au. Inferred resources are 328 kt at 3.9 g/t Au. The Red Dam is located approximately 80 km north of the Georgetown Gold Processing Plant. Recent drilling, including five Reverse Circulation and three diamond drill holes, has enhanced geological confidence, supporting both open pit and underground mining potential. The Exploration Target of 430 kt to 1,060 kt remains unchanged, indicating further exploration potential. Future drilling is planned to expand the resource base. The deposit is characterized by a narrow, high-grade zone with sulphide mineralization predominantly involving gold with high arsenic.
Key Points
  • Significant increase in Red Dam Mineral Resource: 396 kt at 4.6 g/t Au.
  • 96% increase in tonnage and 59% increase in contained gold from 2022.
  • First-time reporting of Indicated Mineral Resources: 68 kt at 7.9 g/t Au.
  • Inferred Mineral Resources: 328 kt at 3.9 g/t Au.
  • Located 80 km north of Georgetown Gold Processing Plant.
  • Enhanced geological confidence from recent drilling.
  • Exploration Target remains between 430 kt and 1,060 kt.
  • Plans for further drilling in 2026 to expand the resource.
  • Sulphide mineralization with high arsenic content.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.