Savannah Goldfields Defines High-Grade Exploration Target at Red Dam, Expands Georgetown Project Potential

Savannah Goldfields Limited (ASX: SVG) announced a new gold Exploration Target at the Red Dam deposit, part of its 100%-owned Georgetown Project in North Queensland. The Exploration Target is estimated at 430,000 to 1,060,000 tonnes, with grades ranging from 3.3g/t to 5.4g/t Au, presenting a significant opportunity to extend existing mineralization.

Located just 80km from the Georgetown Processing Plant, Red Dam was historically mined in 2010 by Deutsche Rohstoff AG, yielding 22,600 tonnes at 13.6g/t Au to a shallow depth of 18m. The area currently hosts an Inferred Mineral Resource of 201,000 tonnes at 5.7g/t Au, and the new target represents potential down-dip and strike extensions to this zone. This is the first of multiple exploration targets Savannah is evaluating as part of its “Hub and Spoke” strategy. The strategy aims to source ore from various deposits to feed its central processing plant. Targets at Electric Light, Big Reef, Jubilee Plunger, and Phily’s are expected to follow, underscoring the Company’s focus on resource growth ahead of production recommencement.

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