Savannah Resources plc (AIM: SAV) (‘Savannah’ or ‘the Company’), the AIM quoted resource development company, is pleased to announce that the reverse circulation (‘RC’) drill programme aimed at defining a JORC resource at the Mina do Barroso lithium project in Portugal (Figures 1-2) has now commenced.
To view the press release with the illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/1786M_-2017-7-26.pdf
HIGHLIGHTS:
· RC drill programme has commenced at Mino do Barroso
· Focus on defining a JORC mineral resource estimate to support potential mine development
· Mining Licence, Mining Plan and Environmental Impact Assessment already secured
· Drilling to focus on three primary target areas – Grandao, Reservatorio and NOA – which have been shown to have relatively high grades of lithium oxide (‘Li2O’) with drill results up to 1.67% Li2O over significant widths
· Further mapping of the licence area also underway to map and define other lithium bearing pegmatites
Savannah’s CEO, David Archer said: “We’re pleased that drilling is now underway at Mina do Barroso, less than two months after acquiring this highly prospective asset. This targeted drill programme will help define the extent and grades of the multiple lithium deposits covered by the mining licence, where grades of up to 1.67% Li2O have been recovered to date. I look forward to providing shareholders with further updates as appropriate as the drill programme progresses.”
Figure 1. Photograph of Drill Rig at Mina do Barroso
Figure 2. Mina do Barroso Project Summary Map
Savannah has a 75% interest in Slipstream Resources Portugal Unipessol Lda, which is the registered holder of the Mina do Barroso mining licence.
Competent Person and Regulatory Information
The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson, Technical Director of Savannah Resources Limited. Mr Ferguson is a Member of the Australian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.savannahresources.com
