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Savannah Resources Plc
Summary
| Project: | Mina do Barroso | |
|---|---|---|
| Deposit: | Mina do Barroso | |
| Location: | Portugal | |
| Commodities: | Lithium | |
| Date: | 4/5/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 5-4-2018: Savannah Resources Plc announces an Exploration/Drilling Update report for its Mina do Barroso deposit at the Mina do Barroso project. Drilling results incl. 90m @ 0.96% Li2O from 0m. Savannah Resources plc (AIM: SAV and SWB: SAV) (‘Savannah’ or | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dale Ferguson (Internal) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV and SWB: SAV) (‘Savannah’ or the ‘Company’), the AIM quoted resource development company, is pleased to announce further results from the ongoing reverse circulation (‘RC’) drill programme at the Mina do Barroso Lithium Project (‘Mina do Barroso’ or the ‘Project’) in Portugal (Figure 1), where an area of new highgrade lithium mineralisation has been discovered. Savannah’s CEO, David Archer said: “We are delighted with the consistently excellent results we are seeing from the drilling of the Grandao system. The main Grandao Deposit already extends over a large area of 400m north-south and 330m east-west. Grandao Extended is adding to this with a 300m extension to the southwest which suggests that much of the Exploration Target in this area has the potential to be converted to additional Mineral Resource. It is particularly encouraging to see the excellent grades being reported as we believe this will only add to the economic appeal of a mine development at Grandao which already benefits from near surface mineralisation which should be able to be mined with a very low stripping ratio. “In parallel, our metallurgical and Scoping Study work continues, and we are on track to take the project towards an early development decision regarding a mine that we believe has the potential to be the most significant near-term lithium development in Europe. “First pass exploration drilling of three other deposits within our project (Campo de Futebol, Piagro Negro and Romainho) produced encouraging results despite the limitations resulting from the necessity of siting the holes on existing tracks. I look forward to providing further updates from Mina do Barroso as we continue to unlock the value in this exciting project.” | |
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