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Savannah Resources Plc
Summary
| Project: | Mina do Barroso | |
|---|---|---|
| Deposit: | Pineheiro, Grandao | |
| Location: | Portugal | |
| Commodities: | Lithium | |
| Date: | 2/11/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-2-2019: Savannah Resources Plc announces an Exploration/Drilling Update report for its Pineheiro, Grandao deposit at the Mina do Barroso project. Drilling results incl. 46.11m @ 1.04% Li2O from 157.44m. Savannah's CEO, David Archer said: "The impressiv | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dale Ferguson (Internal) | |
| ABSTRACT: | Savannah's CEO, David Archer said: "The impressive continuity of lithium mineralisation revealed by these results continues to underpin the true potential of the Mina do Barroso Lithium project. While much of the recent drilling has been focused on increasing the Mineral Resource categories for the Definitive Feasibility Study ('DFS') that is currently underway, the drilling programme at Mina do Barroso continues to deliver expansions to the mineralised zone at Grandao, extensions in depth at Reservatorio and further encouraging results from the Pinheiro deposit. In particular, Pinheiro is shaping up well as a further spodumene lithium deposit and is set to augment the three main deposits that have been defined to date on the granted, C-100 Mining Lease. "Furthermore, these results both complement the excellent metallurgical test work results announced in January, which produced a 6% Li₂O, low impurity concentrate, and highlights the fast tempo of work which is ongoing at the Project. We believe we have a Project that is potentially ideally positioned both in terms of geography and development path to become a leading supplier of lithium spodumene product to the rapidly emerging European Electric vehicle market. This scale of this market was recently highlighted by VW pledging to spend circa 80 billion euros on mass-producing electric vehicles and purchasing batteries. "We have a significant amount of work being conducted across the Project, a strong balance sheet and look forward to regularly communicating progress as we look to fulfil our rapid development strategy." | |
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