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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: Further Zones of Lithium Mineralisation Identified at the Grandao and Pinheiro Deposits Mina do Barroso Lithium Project, Portugal

20.12.2018 | 13:57 Uhr | DGAP

- Reverse Circulation ('RC') and diamond drilling at both the Grandao and Pinheiro Deposits has returned a series of significant lithium intersections, confirming the potential of the project area

- Key lithium intersections at Grandao include:
22.9m at 1.05% Li₂O from 84.1m in 18GRADD010
29.55m at 1.67% Li₂Ofrom 95.45m in 18GRADD011
53.6m at 1.41% Li₂O from 65m in 18GRADD014*
20.7m at 1.21% Li₂O from 41.5m in18GRADD017**
28m at 1.17% Li₂O from 15m in 18GRARC118
18m at 1.47% Li₂O from 39m in 18GRARC119
27m at 1.41% Li₂O from 36m in 18GRARC120

- Key Lithium intersections at Pinheiro include:
9m at 1.05% Li₂O from 39m in 18PNRRC012
27m at 0.91% Li₂O from 57m in 18PNRRC017

- Drilling continues to expand both the Grandao and Pinheiro deposits with lithium mineralisation confirmed over significant strike lengths and grades at the Grandao deposit increasing with depth

- RC drilling will commence on the Aldeia ground in early 2019

- RC and diamond drilling at the project now total 295 holes for 24,723m

- Phase 3 of the metallurgical test-work programme continues and is scheduled to be completed early next year

- Drilling operations will take a break over the Christmas and New Year holiday for maintenance and crew holidays

*Twin of 18GRARC105 for metallurgical purposes
**Twin of 18GRARC63 for metallurgical purposes

Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the 'Company'), the resource development company, is pleased to announce further results from the ongoing reverse circulation and diamond drilling programme at the Mina do Barroso Lithium Project, located in northern Portugal (Figure 1).
Savannah's CEO, David Archer said:"The ongoing drilling programme at Mina do Barroso continues to define excellent widths and grades of lithium mineralisation at both the Grandao and Pinheiro deposits. Thanks to much of the resource definition work and geotechnical drilling to support the definitive feasibility study being largely complete, we anticipate a slower drilling tempo at the C-100 Mining Lease in 2019.

"Over the past months we have had three drill rigs on site and we will be looking to work with the RC rig and only one diamond rig next year. In 2019, we plan for the RC rig to initially drill test the Aldeia ground whereas the diamond rig will focus on obtaining material for the ongoing metallurgical test-work programme as well as some geotechnical drilling.

"The year 2018 has been exceptional for the metres drilled and the resource defined in such a quick time and we look forward to continuing excellent progress for the Project next year.''

Please click on the following link to the complete press release: http://www.savannahresources.com/cms/wp-content/uploads/2018/12/Further-Zones-of-Lithium-Mineralisation-Identified-at-the-Grandao-and-Pinheiro-Deposits-1.pdf

For further information please visit www.savannahresources.comor contact:

David Archer (CEO) 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: SAV, and the Börse Stuttgart (SWB) under the ticker "SAV".
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