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Savannah Resources Plc
Summary
| Project: | Mina do Barroso | |
|---|---|---|
| Deposit: | Grandao | |
| Location: | Portugal | |
| Commodities: | Lithium | |
| Date: | 9/10/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 10-9-2018: Savannah Resources Plc announces a Resource Estimation report for its Grandao deposit at the Mina do Barroso project. Updated mineral resource estimate at the project. Savannah Resources plc (AIM: SAV, FWB: AFM and SWB: SAV) (‘Savannah’ or ‘the | |
| Resources: | (Resource, Total): 20.1Mt @ 1.04% Li2O, 1.4% Fe2O3 for 209Kt Li2O contained at project | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV, FWB: AFM and SWB: SAV) (‘Savannah’ or ‘the Company’), the resource development company, is pleased to announce a significant increase in the JORC 2012- Compliant Measured, Indicated and Inferred Mineral Resource Estimate, with supporting Exploration Target at the Mina do Barroso Lithium Project (‘Mina do Barroso’ or the ‘Project’), located in northern Portugal (Figure 1-2 and Table 1-3). Savannah’s CEO, David Archer said: “Today’s Mineral Resource Estimate increase,shows that Mina do Barroso is shaping up to be Europe’s most strategically significant mineral discovery in recent years. The increasing Mineral Resource base of the Project means we have a long-life asset that can anchor the up-stream end of the European lithium value chain, with Europe being the second largest consumer of lithium in the world. “Mina do Barroso has grown remarkably over the last 12 months with this being the third Mineral Resource Estimate upgrade in less than seven months; this is testament to both the quality of our Project and skill set of our team. There is considerable potential to expand the Mineral Resource Estimate even further, as highlighted by the 9Mt to 15Mt Exploration Target, and our intensive round of drilling continues with three drill rigs on site. Alongside this, at a commercialisation level we are making good progress with the Feasibility Study and continue to target making a mine development decision next year. “Today’s results highlight Mina do Barroso as what we believe to be an outstanding lithium project.” | |
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