Savannah Resources plc (AIM: SAV) (‘Savannah’ or ‘the Company’), the AIM quoted resource development company, is pleased to announce that the second round of reverse circulation (‘RC’) drilling aimed at defining a JORC resource at the Mina do Barroso lithium project in Portugal (Figures 1-2) has commenced.
Highlights
· RC drill programme has re-started at Mino do Barroso mining lease
· Drilling to focus on drill testing the NOA deposit and targeting potential extensions to the significant zones of mineralisation identified at Grandao and Reservatorio in recent drilling
· Further mapping of the mining lease area is also underway to map and define other lithium bearing pegmatites
Savannah’s CEO, David Archer said:
“We’re looking to this next round of drilling to build on the robust drill intersections we reported last week. This has highlighted the appeal of Mina do Barroso as the best European analogue of the very successful Western Australian lithium spodumene developments. We believe that hard rock, lithium spodumene deposits like those at Mina do Barroso will play a leading role in the upstream part of the lithium value chain going into the 2020s.”
Figure 1. Photograph of Drill Rig at NOA Prospect 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.
