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Savannah Resources Plc
Summary
| Project: | Mina do Barroso | |
|---|---|---|
| Deposit: | Reservatorio | |
| Location: | Portugal | |
| Commodities: | Lithium-Iron | |
| Date: | 12/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-12-2017: Savannah Resources Plc announces a Resource Estimation report for its Reservatorio deposit at the Mina do Barroso project. Initial Mineral Resource for the Reservatorio deposit. Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), | |
| Resources: | (Resource, Inf.): 3.2Mt @ 1.00% Li2O, 1.4% Fe2O3 for 32Kt contained at Reservatorio | |
| CP/QP: | [Resources]: Paul Payne (Payne Geological Services) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to announce a maiden Mineral Resource Estimate of 3.2 million tonnes for the Reservatorio Deposit, which is one of three targets currently being advanced as part of the ongoing exploration and development programme for the Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project') in northern Portugal (Figure 1). Crucially further upside remains as the drill programme is ongoing, with the aim of further expanding the Reservatorio Mineral Resource and defining new JORC - 2012 compliant Mineral Resource Estimates at other deposits. To view the press release with the illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/5746Z_-2017-12-17.pdf Savannah's CEO, David Archer said: "That we have an estimated 3.2 million tonne Resource from just one of at least eight pegmatite deposits at our Mina do Barroso Lithium Project gives an indication of the potential scale of this project. We are now focused on defining a significant aggregate Mineral Resource from the multiple pegmatites that sit within the major lithium mineralised corridor that runs through our Mining Lease. The first to add to this aggregate Mineral Resource will be the high-grade (up to 2.1% Li₂O) Grandao deposit where we have completed extensive drilling and expect to deliver a Resource Estimate in the first quarter of 2018. "The drilling results announced to date continue to underscore the potential of the Mina do Barroso Lithium Project to be a strategic upstream feature in the European lithium value chain. We believe Mina do Barroso is the closest European analogue to the very successful Australian hard-rock, open cut mine developments, which produce highly sought-after lithium spodumene concentrates for international markets. | |
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