Savannah’s CEO, David Archer, said: “Today’s Mineral Resource Estimate for co-products is another important milestone achievement for Savannah and further enhances the commercial appeal and robustness of the Mina do Barroso Lithium Project.
Which is leading the way as Europe’s most immediate producer of high quality, lithium feedstocks and has the ability to anchor the fast growing battery and Electric Vehicle industries of the continent with a supply of this strategic battery metal.
The co-products will be produced in a region where quarrying of feldspar and quartz is a traditional industry supplying vibrant ceramic and glass industries locally, nationally and more widely in the EU.
They will not only help our bottom line but will help to reduce the volumes of materials that will need to be emplaced as waste on site thereby reducing our environmental footprint and costs.
Discussions are underway with potential offtake and JV partners to advance the co-product opportunity.
Significant Maiden Co-Product Mineral Resource Estimate Grandao Lithium Deposit
· Co-product Mineral Resource estimates completed at Grandao with an initial resource of 14.4Mt containing 4.79Mt of quartz and 6.11Mt of feldspar
· Grandao forms part of Savannah’s Mina do Barroso Lithium Project, located in northern Portugal, and the Company’s flagship asset and Europe’s most significant spodumene lithium deposit, with a Mineral Resource Estimate currently standing at 27Mt @ 1.06% Li20
· Metallurgical test work demonstrates successful recovery of saleable products used in the local ceramic and glass industries
· Co-product Mineral Resources are wholly contained within existing lithium Mineral Resource model
· The Mineral Resource is expected to expand once calculations for the NOA, Reservatorio, Pinheiro and Aldeia deposits are also included
· By-products have the potential to provide a significant additional income stream to add to that generated from the sale of lithium spodumene concentrates
· Marketing studies concluded that prices for Mina do Barroso co-products could be significantly higher than reported in the 2018 Scoping Study, with feldspar at US$65-100/t vs. US$39/t, quartz at US$60-100/t vs. US$33/t and a bulk tail at US$40-45/t
· Glass and ceramics are two of the biggest global markets for feldspar and quartz and Mina do Barroso is geographically well positioned to supply markets in Portugal, Spain and other European countries
Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV) (‘Savannah’ or ‘the Company’), the resource development company, is pleased to announce a Mineral Resource estimate for co-products (quartz and feldspar) from the spodumene bearing pegmatites at the Mina do Barroso Lithium Project (‘Mina do Barroso’ or the ‘Project’).
The co-product Mineral Resource estimate is based on the same geological models used in the recent resource estimate for lithium of 27.0Mt @ 1.06% Li20 announced 31 May 2019. The resource estimate was completed by an independent consultant and is based on normative mineralogy assessments and is reported in accordance with the JORC code 2012 edition (Figure 1 and Table 1). To view the press release with the illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/5458N_1-2019-9-24.pdf
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