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Savannah Goldfields Limited (ASX:SVG)

ALERT: Price-sensitive ASX Announcement for SVG
Current share price for SVG : $0.011 -0.012 (-52.17%)+
Announcement
Release
23 Oct 2025 9:43AM
Price at Release
$0.023
Full Release
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Summary
Savannah Goldfields Limited announced positive results from its recent Reverse Circulation (RC) drilling program at the Electric Light Prospect, part of the company's Georgetown Gold Project in North Queensland. Six RC holes were drilled within the Electric Light Mining Lease (ML3548), confirming gold mineralization dipping to the east and plunging south, with the best intercept recorded in hole EL25RC1012, showing 7 meters at 9.92 g/t gold from 13 meters, including 3 meters at 16.74 g/t from 14 meters. The exploration efforts aimed at testing gold mineralization under the historic open pit, with plans for further drilling to extend the resource model and acquire samples for metallurgical testing. Historical drilling results have also been recalibrated, complementing the current findings and suggesting potential to increase the Inferred Mineral Resource at Electric Light.
Key Points
  • Six RC holes drilled at Electric Light Prospect showed significant gold mineralization.
  • Best intercept of 7m at 9.92 g/t Au was recorded in drill hole EL25RC1012.
  • All six holes intersected gold mineralization with intercept widths from 1m to 7m.
  • The drilling confirms the southeast dip and southern plunge of the gold mineralization.
  • Potential exists to increase the Inferred Mineral Resource of 388,000t at 3.70 g/t for 46,000 oz.
  • Further drilling is planned to test along strike and down plunge for high-grade gold zones.
  • Two PQ diamond holes are also planned for metallurgical test work.
  • Electric Light Prospect is located approximately 20 km north of Georgetown and 30 km by road north of Savannah’s Georgetown Gold Processing Plant.
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.