Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced 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). The drill programme continues to return significant intersections of lithium mineralisation as Savannah aims to increase the current JORC – 2012 compliant Mineral Resource Estimate of 3.2 million tonnes at 1.0% Li2O containing 32,000t of Li2O, which was defined at the Reservatorio Deposit, one of three targets currently being evaluated. To view the press release with the illustrative maps and diagrams please use the following link:
Read the full announcement with images here.
HIGHLIGHTS:
· Total of 87 holes for 7,081m drilled to date as part of the ongoing RC drill programme across three primary targets
· Broad zones of lithium mineralisation intersected giving further confidence of significant resource potential of Mina do Barroso
· Drill programme is ongoing and has been extended as a result of the positive results received to date
· Grandao Deposit – New Mineral Resource Estimate on track for Q1 2018 to add to current Project resource
o Significant widths of lithium mineralisation identified. Key results include:
§ 59m at 1.13% Li2O from 5m, in 17GRARC31
§ 33m at 1.22% Li2O from 40m, in 17GRARC41
§ 31m at 1.07% Li2O from 40m, including 24 at 1.31% Li2O in 17GRARC25
§ 32m at 0.89% Li2O from 35m, including 17m at 1.29% Li2O in 17GRARC38
o Exploration efforts to be accelerated with a diamond drill rig to mobilise in second half of February, to test depth extensions of Grandao mineralisation and begin collecting samples for the next phase of metallurgical test work
o New high priority targets identified to the north east of Grandao: Romainho, Campo de Futebol and Peigro Negro will be drill tested
· NOA Deposit – drilling of a further six holes has confirmed the presence of lithium mineralisation over a 200m strike length together with good down dip extensions of at least 50m. Key results include:
§ 15m at 0.83% Li2O from 5m, including 9m at 1.27% Li2O in 17NOARC06
§ 14m at 0.73% Li2O from 19m, including 7m at 1.26% Li2O in 17NOARC10
· Phase 2 of the metallurgical test work programme underway – samples taken from Grandao, Reservatorio and NOA being tested with results expected in Q1 2018
Savannah Resources Plc CEO, David Archer said: “We are delighted to see the expanding geometry of Grandao with both near surface and deeper mineralisation. The Grandao Deposit is shaping up as a major additional component to the overall global Mineral Resource for the Mina do Barroso Lithium Project.
“The overall tempo of activities continues to accelerate as the Project’s potential becomes more apparent. We are working to an aggressive timetable to deliver on a series of major milestones over coming months, which we believe will highlight the Project’s potential to be a key, up-stream component of the European lithium valued added chain.”
