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Savannah Resources Plc
Summary
| Project: | Mina do Barroso | |
|---|---|---|
| Deposit: | Mina do Barroso | |
| Location: | Portugal | |
| Commodities: | Lithium-Iron | |
| Date: | 5/2/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-5-2018: Savannah Resources Plc announces a Resource Estimation report for its Mina do Barroso deposit at the Mina do Barroso project. Updated mineral resource estimate at the project. Savannah Resources plc (AIM: SAV and SWB: SAV) (‘Savannah’ or ‘the Co | |
| Resources: | (Resource, I+I): 14.0Mt @ 1.1% Li2O, 1.3% Fe2O3 for 149Kt Li2O contained | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services ) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV and SWB: SAV) (‘Savannah’ or ‘the Company’), the AIM quoted resource development company, is pleased to announce a significant increase in the JORC 2012- Compliant Indicated and Inferred Mineral Resource Estimate at the Mina do Barroso Lithium Project (‘Mina do Barroso’ or the ‘Project’) in northern Portugal (Figure 1). Savannah’s CEO, David Archer said: “Mina do Barroso is shaping up as a major new European mineral discovery. With the strong growth prospects for lithium ion batteries for Electric Vehicles and for electricity storage from the grid this is a critical time to be bringing a project of Mina do Barroso’s scale, grade and location, on stream. We believe that Mina do Barroso has the potential SAVANNAH RESOURCES PLC AIM: SAV AN ENERGY METALS GROUP RNS – 2 May 2018 2 to be a key piece of Europe’s emerging lithium value chain that could help support the shift by European car manufacturers to the production of Electric Vehicles.” “This is the second Mineral Resource Estimate upgrade we have made in the last two months, outlining our rapid development approach. We believe we have established the largest spodumene lithium Mineral Resource in Western Europe. It is important to remember that spodumene concentrate is the dominant lithium mineral product that is traded internationally, and with no current European producer we believe that Portugal could be the first European supplier of spodumene thanks to the near-term development potential of Mina do Barroso, which has already been granted a Mining Lease. Our focus now is to establish the Project’s economics, with the results of the Scoping Study due this quarter. Further Mineral Resource upgrades are expected in coming months.” | |
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