Savannah Resources (LON:SAV) has finalised new drill targets and hopes to start drilling at the Block 4 in Oman towards the end of this month (September) following positive findings from an electromagnetic survey.
The latest anomalies are near known VMS (volcanic massive sulphide) deposits, which has shown the potential for these to be part of a larger cluster, the firm said.
The targets are near to previously producing copper mines at the site, which collectively produced more than 190,000 tonnes of copper.
Savannah’s aim is to develop its interests in Oman into a significant mid-tier copper producer, utilising a central processing facility to support the development of a set of satellite deposits.
Chief executive David Archer said: "We and our joint venture partners are particularly pleased with these highly encouraging new results from our recent VTEM survey over Block 4.
"Detailed modelling has highlighted a series of high priority VTEM anomalies in favourable geological settings in the vicinity of the old copper mines of Lasail, Aarja and Bayda and the Zuha prospect area.
We are particularly encouraged by the fact that VMS deposits very rarely occur by themselves and these new results point towards the real possibility that a new VMS cluster may be present at Zuha."