Savannah Goldfields has updated the mineral resource estimate for the Electric Light deposit within its Georgetown gold project to 364,000t at 3.9g/t gold.

The figure includes 46,000oz of contained gold and the company says new data has increased the confidence in the geological model for the deposit.

Various mining scenarios are now being investigated to determine the optimum path forward for the project and to inform an application for an expanded mining lease.

“The increased confidence in the Electric Light mineral resource, which now includes indicated mineral resources for the first time, is beneficial as we work to understand the open pit and underground mining potential at this deposit,” Savannah chief executive officer Brad Sampson said.

“Electric Light has the potential to provide additional feed to the Georgetown gold processing plant and significantly extend the processing life of the operation.

“Further exploration drilling at Electric Light is planned for 2026 to test the extensions of this deposit at depth and we eagerly await commencement of this drilling.”

The Electric Light prospect is located about 20km north of Georgetown and 30km north of Savannah’s Georgetown Gold Processing Plant (GGPP).

It was mined with surface workings and minor underground mining around 1900. A modern period of open pit mining for oxide mill feed commenced in December 2010 and was completed in April 2011.

The updated Electric Light mineral resource comprises:

• Indicated mineral resource – 64kt at 5.4g/t gold and 4.5g/t silver
• Inferred mineral resource – 299kt at 3.6 g/t gold and 1.7g/t silver
• Total mineral resource – 364kt at 3.9g/t gold and 2.2g/t silver