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Savannah Resources plc
Savannah Resources plc
Registriert in: Großbritannien WKN: A1C8XS Rohstoffe:
Art: Originalaktie ISIN: GB00B647W791 Kupfer
Heimatbörse: London Alternativ: -
Währung: GBP    
Symbol: SAV.L Forum:

Savannah Resources PLC: Three New Lithium Pegmatites Discovered at the Pinheiro Deposit Mina do Barroso Lithium Project, Portugal

09.11.2018 | 13:37 Uhr | DGAP

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:

23m at 1.29% Li₂O from 24m in 18RESRC023
27m at 1.03% Li₂O from 24m in 18RESRC026
24m at 1.00% Li₂O from 26m in 18RESRC029
42m at 1.21% Li₂O from 51m in 18RESRC033
27m at 1.08% Li₂O from 58m in 18RESRC037

NOA deposit:

19m at 0.97% Li₂O from 99m in 18NOARC012
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).

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."

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

For further information please visit www.savannahresources.com or contact:

Issuer: Savannah Resources plc
David Archer Savannah Resources plc Tel: +44 20 7117 2489
David Hignell / Dugald J. Carlean (Nominated Adviser) Northland Capital Partners Ltd Tel: +44 20 3861 6625
Christopher Raggett / Camille Gochez (Broker) finnCap Ltd Tel: +44 20 7220 0500
Grant Barker (Equity Adviser) Whitman Howard Tel: +44 020 7659 1225
Charlotte Page / Lottie Wadham (Financial PR) St Brides Partners Ltd Tel: +44 20 7236 1177

About Savannah
Savannah is a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in Portugal and copper in Oman - together with the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major Rio Tinto. The Board is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.

The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol FWB: AFM, and the Börse Stuttgart (SWB) under the ticker "SAV".
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