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Savannah Resources Plc
Summary
| Project: | Mina do Barroso | |
|---|---|---|
| Deposit: | Reservatorio, Grandao | |
| Location: | Portugal | |
| Commodities: | Lithium | |
| Date: | 9/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 20-9-2017: Savannah Resources Plc announces an Exploration/Drilling Update report for its Reservatorio, Grandao deposit at the Mina do Barroso project. JV - Drilling results incl. 36m @ 1.26% Li2O from 29m. Savannah Resources plc (AIM: SAV) (‘Savannah’ or | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Dale Ferguson (Internal) | |
| ABSTRACT: | Savannah Resources plc (AIM: SAV) (‘Savannah’ or ‘the Company’), the AIM quoted resource development company, is pleased to announce that the first part of a reverse circulation (‘RC’) drill programme aimed at defining a JORC compliant Mineral Resource Estimate at the Mina do Barroso Lithium Project (‘Mina do Barroso’ or the ‘Project’) in Portugal (Figure 1) has returned significant intersections of lithium mineralisation. Savannah’s CEO, David Archer said: “The drilling of the first two targets at Mina do Barroso has confirmed excellent lithium grades over a series of broad intercepts. These results further highlight the appeal of the Project, which we believe is one of the most promising lithium projects in Europe, thanks to a number of key features. “Taking these positive attributes into consideration, we believe Mina do Barroso could be brought into production relatively quickly to produce a Li₂O concentrate for the manufacture of battery grade lithium. This is within a highly favourable context as there is a clear intent on the part of governments, communities and car manufacturers to foster accelerated adoption of electric vehicles. This will bring into focus lithium mines that can be brought into production swiftly to meet growing demand. “We believe that hard rock, lithium spodumene deposits like those at Mina do Barroso will be playing the leading role in the upstream part of the lithium value chain going into the 2020s.” | |
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