Savannah Resources PLC
Savannah Resources PLC: 64% Resource Increase for the Grandao Deposit Pushes the Total Resource Estimate for the Mina do Barroso Lithium Project Past 20Mt with Significant Scope for Further Expansions
DGAP-News: Savannah Resources PLC / Key word(s): Miscellaneous Highlights
*Cautionary Statement: The potential quantity and grade of the Exploration Targets is conceptual in nature, there has been insufficient exploration work to estimate a mineral resource and it is uncertain if further exploration will result in defining a mineral resource. Savannah Resources plc (AIM: SAV, FWB: AFM and SWB: SAV) (‘Savannah’ or ‘the Company’), the resource development company, is pleased to announce a significant increase in the JORC 2012-Compliant Measured, Indicated and Inferred Mineral Resource Estimate, with supporting Exploration Target at the Mina do Barroso Lithium Project (‘Mina do Barroso’ or the ‘Project’), located in northern Portugal. Savannah’s CEO, David Archer said: “Today’s Mineral Resource Estimate increase, shows that Mina do Barroso is shaping up to be Europe’s most strategically significant mineral discovery in recent years. The increasing Mineral Resource base of the Project means we have a long-life asset that can anchor the up-stream end of the European lithium value chain, with Europe being the second largest consumer of lithium in the world. “Mina do Barroso has grown remarkably over the last 12 months with this being the third Mineral Resource Estimate upgrade in less than seven months; this is testament to both the quality of our Project and skill set of our team. There is considerable potential to expand the Mineral Resource Estimate even further, as highlighted by the 9Mt to 15Mt Exploration Target, and our intensive round of drilling continues with three drill rigs on site. Alongside this, at a commercialisation level we are making good progress with the Feasibility Study and continue to target making a mine development decision next year. “Today’s results highlight Mina do Barroso as what we believe to be an outstanding lithium project.” Bitte klicken Sie auf den folgenden Link zur vollstaendigen Pressemitteilung: http://www.rns-pdf.londonstockexchange.com/rns/1974A_1-2018-9-8.pdf For further information please visit www.savannahresources.com or contact:
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”.
11.09.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
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