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Savannah Resources provides latest ops report for Portugal assets

Savannah Resources provides latest ops report for Portugal assets

Wed 7 Nov 2018 07:52 by ukcitymedia.co.uk about : trading updates - 0 Comments - 583 words


 
HIGHLIGHTS:
 
·    Reverse circulation ('RC') drilling at the Pinheiro Deposit has returned a series of significant lithium intersections in three newly discovered pegmatites over considerable strike (>250m) and depths (>100m) highlighting the area's potential to host further deposits.
 
·    Significant potential to further increase the current Mineral Resource Estimate of over 20Mt (over 200,000t contained Li2O) which has already been increased +500% since acquisition last year
 
·    Key lithium intersections at Pinheiro include:
 
-     23m at 1.14% Li₂O from 9m in 18PNRRC003
 
-     14m at 1.21% Li₂O from 18m in 18PNRRC004
 
-     90m at 1.23% Li₂O from 39m incl. 34m at 1.6% Li₂O from 94m in 18PNRRC005*
 
-     69m at 1.29% Li₂O from 20m incl. 24m at 1.58% Li₂O from 48m in 18PNRRC007*
 
-     35m at 1.19% Li₂O from 16m incl. 21mm at 1.45% Li₂O from 19m in 18PNRRC009
 
·    This new discovery is likely to positively impact the current Feasibility Study and further work at Pinheiro will now be fast tracked so that it can be included.
 
·    Infill RC at both Reservatorio and NOA deposits confirms the continuity and grade of the mineral resource estimate reported in February 2018.
 
·    Reservatorio deposit:
 
o 23m at 1.29% Li₂O from 24m in 18RESRC023
 
o 27m at 1.03% Li₂O from 24m in 18RESRC026
 
o 24m at 1.00% Li₂O from 26m in 18RESRC029
 
o 42m at 1.21% Li₂O from 51m in 18RESRC033
 
o 27m at 1.08% Li₂O from 58m in 18RESRC037
 
·    NOA deposit:
 
o 19m at 0.97% Li₂O from 99m in 18NOARC012
 
o 21m at 0.92% Li₂O from 57m in 18NOARC013
 
·    Drilling has expanded both the Reservatorio and NOA deposits with lithium mineralisation confirmed over strike lengths of 500m and 400m respectively and both deposits remain open and further drilling will be planned. 
 
·    Drilling at the project now totals 275 holes for 23,072m including both RC and Diamond holes.
 
·    Phase 3 of the metallurgical test work programme is ongoing and scheduled to be completed in Q4 2018.
 
 
 
* Intersections are partly down dip
 
 
 
Savannah Resources plc (AIM: SAV, FWB: AFM and SWB: SAV) ('Savannah' or the 'Company'), the resource development company, is pleased to announce further results from the ongoing reverse circulation ('RC') drilling programmes for the Reservatorio, NOA and Pinherio deposits at the Mina do Barroso Lithium Project ('the MdB Project'), located in northern Portugal (Figure 1). To view the press release with the illustrative maps and diagrams please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/5474G_1-2018-11-6.pdf
 
 
 
Savannah's CEO, David Archer said: "The ongoing drilling at the MdB Project continues to deliver excellent results both in terms of grades and widths. The drilling has outlined what is now the fourth major deposit on the mining lease and highlights the still unconstrained nature of the resource potential of the overall lease area.  Having already increased our Mineral Resource Estimate by +500% in a little over a year we are excited by the discovery of three new pegmatites at the Pinherio deposit which could further enhance the scheduling flexibility of a mine development and add to the overall mine life at Mina do Barroso."
 
 
 
Further Information
 
A total of 275 holes for 23,072m have been drilled to date at Mina do Barroso as part of the ongoing RC and diamond drill programme primarily focused on the Grandao, Reservatorio and NOA deposits.
 
 
 
The results from the recent RC drilling at Reservatorio and NOA have now been received with diamond drilling ongoing at Grandao with a series of diamond tails being completed on some original RC drill holes and geotechnical drilling now well advanced at both Reservatorio and Grandao.
 
 


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