Savannah Goldfields (ASX: SVG) has reported further high-grade gold drill intercepts at its Electric Light deposit, demonstrating continuity and potential for resource expansion, with metallurgical test work underway.
This announcement coincides with the company’s FY25 annual report, detailing progress towards restarting operations.
Electric Light Gold Intercepts Continue
Savannah Goldfields completed eight reverse circulation (RC) drill holes for a total of 842 metres at its Electric Light deposit in December 2025.
This program aimed to test down-dip and down-plunge extensions, as well as the strike extent of the mineralisation. Six of these holes intersected gold mineralisation, with three delivering high-grade zones.
A standout intercept was 30m at 2.70 g/t Au from 95m, which included 3m at 19.04 g/t Au from 98m in hole EL25RC1019. Other notable results included 7m at 3.68 g/t Au from 37m in EL25RC1021, and 22m at 2.59 g/t Au from 104m in EL25RC1024, which contained 4m at 6.96 g/t from 107m and 3m at 6.86 g/t from 120m.
The company confirmed that the Electric Light deposit remains open at depth, indicating further resource growth potential.
The current inferred mineral resource stands at 388,000 tonnes at 3.70 g/t Au (at a 1.0 g/t Au cutoff). Metallurgical test work is currently in progress, encompassing Phase 1 gravity recovery and cyanidation, with Phase 2 anticipated to include flotation, to assess economic viability.
FY25 Report Signals Restart Progress
The company’s FY25 annual report highlighted that no mining or processing operations were conducted during the financial year, with activities largely focused on care and maintenance. However, significant progress has been made towards recommencing operations.
Refurbishment of the Georgetown Gold Processing Plant is ongoing, with a restart planned for Q2 FY2026.
Mining at the Big Reef deposit is also targeted to commence in H1 FY2026, subject to necessary environmental approvals and permitting.
The report also detailed a maiden Ore Reserve at Agate Creek of 460,000 tonnes at 2.5 g/t Au, containing 36,800 ounces of gold.
Georgetown Production Update
Savannah Goldfields has reported ongoing gold production at the Georgetown Gold Processing Plant.
Multiple doré pours occurred in December 2025 and January 2026, generating US$2.867 million in revenue to date from the current production campaign.
Tolling deliveries and material from Big Reef mining have contributed to the processing feed. However, operations experienced interruptions due to weather events and delays with a drilling contractor, requiring planned maintenance and inspections.
Red Dam Exploration Advances
Recent exploration efforts at the Red Dam deposit, part of the Georgetown Gold Project, have confirmed down-dip extensions of gold mineralisation.
Recent RC drilling, comprising five holes for 648 metres, yielded a best intercept of 3m at 14.86 g/t Au from 104m.
Diamond drilling at Red Dam also delivered high-grade intercepts, including 2.6m at 34.8 g/t Au from 51.40m.
Core samples from this drilling are being used for metallurgical test work to further assess the deposit's characteristics.
Outlook Tied to Execution
Savannah Goldfields is advancing exploration and planning for production restarts, highlighted by positive high-grade gold results at Electric Light and Red Dam.
The company's valuation hinges on successfully navigating regulatory approvals and executing its operational restart plan, particularly for the Georgetown plant and Big Reef mining, while managing potential risks.
