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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Savannah Resources Plc | AQSE:SAV.GB | Aquis Stock Exchange | Ordinary Share | GB00B647W791 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.20 | -4.88% | 3.90 | 3.70 | 4.10 | 4.10 | 3.90 | 4.10 | 0.00 | 15:15:24 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Jul 2019 to Jul 2024
TIDMSAV
RNS Number : 6582R
Savannah Resources PLC
04 March 2019
04 March 2019
Savannah Resources Plc
Project Update
Significant New Higher-Grade Lithium Discovery
Mina do Barroso Lithium Project, Portugal
HIGHLIGHTS:
-- Reverse Circulation ('RC') drilling on Aldeia Block A has identified a new higher-grade lithium bearing pegmatite body about 2km to the south east of the Grandao Deposit, bringing total discoveries to five with further targets still to be tested.
-- Key lithium intersections include: - 21m at 1.50% Li O from 34m in 19ALARC03 - 20m at 1.36% Li O from 75m in 19ALARC021 - 21m at 1.24% Li O from 17m in 19ALARC012 - 14m at 1.41% Li O from 37m in 19ALARC004 - 11m at 1.50% Li O from 54m in 19ALARC005
-- Pegmatite consistently intersected over a strike length of over 200m and has been traced down dip for a distance of over 200m, confirming the potential for the presence of a significant mineralised body.
-- RC drilling is continuing on the Aldeia pegmatite and is focused on tracing the pegmatite body further down dip and along strike to the west where there is potential to extend the strike and dip extents of the mineralisation.
-- With the recent discovery of the Pinheiro and Aldeia pegmatites, work is being fast tracked to define the potential size and metallurgy of these deposits so that they can be considered as part of a potential development. Work will also focus on determining if they have a material effect on the already highly favourable economics of Mina do Barroso.
-- Diamond drilling to collect metallurgical test samples at Pinheiro has been completed and work at Aldeia is expected to be completed in March. These samples will be shipped to lithium specialists Nagrom in Perth to conduct the metallurgical test work programme.
-- Both the Aldeia and Pinheiro deposits will now be incorporated in an expanded and fully funded DFS the completion of which will now extend into the second half of the year.
-- The Project continues to be developed and is ideally positioned to anchor the up-stream part of the lithium value chain for the European Electric Vehicle ('EV') market.
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 ('RC') drilling programme at the Mina do Barroso Lithium Project ('the Project') located in northern Portugal (Figure 1). The Project, currently with a 20Mt Mineral Resource, is Western Europe's most significant new spodumene lithium discovery.
To view the press release with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6582R_1-2019-3-1.pdf
Savannah's CEO, David Archer said: "The discovery of this new higher grade Aldeia Block A pegmatite is likely to add further tonnage to the overall Mineral Resource inventory of the Mina do Barroso Project, which currently stands at 20.1Mt with low impurities. The Block A lithium mineralisation is both close to surface and shows excellent grades. These excellent results mean we will now look to incorporate these deposits as part of the early mining schedule of a potential mine development. Following our drilling success both from Aldeia Block A and Pinheiro, we will look to broaden the scope of the mine planning for the current Definitive Feasibility Study to incorporate both deposits. This will include further resource definition drilling and metallurgical test work. This extra work will mean that the completion of the DFS will extend into the second half of the year. The Block A and Pinheiro deposits have the potential to extend the current mine life of 11 years and to provide a long-life, base load feed of spodumene lithium for a potential lithium refinery in Europe.
"We remain extremely excited about the Project which is strategically positioned to supply the expanding demand for spodumene lithium for the European EV market. The significance of the project is underscored by the high level of interest we are fielding from potential off-takers and strategic partners, both European and international."
Figure 1. Mina do Barroso Project Summary Map showing Prospects and Drilling Completed
Further Information
To date a total of 27 RC and diamond drill holes for 2,031m have been drilled on Aldeia Block A as part of the ongoing RC and diamond drill programme at the Mina da Barroso Project.
Results have now been received for the first 21 holes, which have confirmed a lithium bearing pegmatite is present with excellent potential to have a higher overall grade of lithium mineralisation than the currently defined deposits (Figure 2-4, Table 1). Key lithium intersections include:
- 21m at 1.50% Li O from 34m in 19ALARC03 - 20m at 1.36% Li O from 75m in 19ALARC021 - 21m at 1.24% Li O from 17m in 19ALARC012 - 14m at 1.41% Li O from 37m in 19ALARC004 - 11m at 1.50% Li O from 54m in 19ALARC005
Drilling has defined a shallow dipping pegmatite over a strike length of 220m, with a dip extent of 200m and a thickness of 10m-20m. The pegmatite has been defined from surface and is dipping at 30 degrees to the north west. Lithium mineralisation identified to date is typical of the Mina do Barroso region with spodumene being observed in the drill cuttings and also in a small quarry which is being mined to supply material to the local ceramics industry.
The pegmatite mineralisation remains open down dip and to the west where there is excellent potential to extend the strike and dip extents mineralisation. Work is ongoing with RC drilling to further test the potential extensions. Two diamond holes are also being completed to collect samples for sighter metallurgical test work.
Option Agreement with Aldeia
As announced on 25 September 2018, the Company has entered into a Pledge and Purchase Agreement to acquire an Option to purchase the Aldeia License Area, which includes among others Block A, following the award of a mining concession from relevant government/competent authorities (the 'Option') for a total Option Purchase Price of EUR 358,000.
The Option may be exercised no later than 25 June 2019. Upon Savannah providing such option exercise notice, the parties shall have a maximum of five years (which cannot exceed 25 September 2024) to submit, and to have approved, a mining lease application for the Aldeia Licence Area. Upon approval of the mining lease, Aldeia shall thereafter apply to register the lease in the name of a subsidiary of Savannah.
The total purchase price for the acquisition of the Aldeia Licence Area (once granted) is EUR3.25m, of which EUR55,000 would be paid upon transfer of the mining lease and the balance in 71 monthly instalments following the transfer of the mining lease to a subsidiary of Savannah.
Figure 2. Summary of drilling at Aldeia Pegmatite showing significant assay results
Table 1. Summary of drill results for Aldeia Pegmatite using a 0.5% Li(2) O cut-off
Hot Features
Premium
rL From To Down
Hole ID Prospect Northing Easting Azimuth Dip EOH (m) (m) hole Grade
Interval % Li(2)
(Deg) (Deg) (m) (m) O
19ALARC001 Aldeia Quarry 4606656 603074 584 0 -90 80 NSA
-----------------------------------
19ALARC002 Aldeia Quarry 4606656 603074 610 330 -60 63 35.00 37.00 2.00 0.97
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC003 Aldeia Quarry 4606690 603034 580 330 -60 69 1.00 9.00 8.00 0.92
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
16.00 25.00 9.00 0.96
---------------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
34.00 55.00 21.00 1.50
---------------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
60.00 69.00 9.00 1.14
---------------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC004 Aldeia Quarry 4606723 603010 583 150 -70 90 37.00 51.00 14.00 1.41
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
60.00 66.00 6.00 0.94
---------------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC005 Aldeia Quarry 4606722 603010 584 0 -90 81 39.00 47.00 8.00 1.31
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
54.00 65.00 11.00 1.50
---------------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC006 Aldeia Quarry 4606617 603076 571 0 -90 60 1.00 8.00 7.00 1.20
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC007 Aldeia Quarry 4606560 603102 572 0 -90 39 NSA
--------------- --------- -------- ---- -------- ------ ---- -----------------------------------
19ALARC008 Aldeia Quarry 4606683 603123 619 0 -90 69 NSA
--------------- --------- -------- ---- -------- ------ ---- -----------------------------------
19ALARC009 Aldeia Quarry 4606723 603099 607 0 -90 105 6.00 13.00 7.00 1.09
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC010 Aldeia Quarry 4606749 603082 615 0 -90 70 14.00 26.00 12.00 1.23
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC011 Aldeia Quarry 4606750 603078 609 147 -60 72 13.00 23.00 10.00 1.28
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC012 Aldeia Quarry 4606750 603079 610 327 -60 70 17.00 38.00 21.00 1.24
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC013 Aldeia Quarry 4606787 603141 636 0 -90 100 62.00 68.00 6.00 0.91
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC014 Aldeia Quarry 4606789 603146 630 327 -55 110 NSA
--------------- --------- -------- ---- -------- ------ ---- -----------------------------------
19ALARC015 Aldeia Quarry 4606762 603170 615 0 -90 75 35.00 39.00 4.00 1.04
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC020 Aldeia Quarry 4606749 602986 603 0 -90 96 70.00 84.00 14.00 1.02
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
61.00 65.00 4.00 0.59
---------------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
19ALARC021 Aldeia Quarry 4606767 602966 600 0 -90 105 75.00 95.00 20.00 1.36
--------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
Figure 3. Aldeia Cross Section 1
Figure 4. Aldeia Cross Section 2
Figure 5. Photograph of the Quarry
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 Australasian 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.
**S**
For further information please visit www.savannahresources.com or contact:
David Archer Savannah Resources Tel: +44 20 7117 2489
plc
David Hignell / Charlie SP Angel Corporate Tel: +44 20 3470 0470
Bouverat (Nominated Adviser) Finance LLP Partners
(Nominated Adviser) Ltd
Christopher Raggett / Camille finnCap Ltd Tel: +44 20 7220 0500
Gochez (Broker)
Grant Barker (Equity Adviser) Whitman Howard Tel: +44 020 7659
1225
Melissa Hancock/ Cosima St Brides Partners Tel: +44 20 7236 1177
Akerman (Financial PR) Ltd
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 the communities we work with and our staff.
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".
APPIX 1 - JORC 2012 Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling
techniques * Nature and quality of sampling (e.g. cut channels, * Reverse circulation (HQ size) samples were taken on
random chips, or specific specialised industry either 1m intervals for pegmatite or 4m composites in
standard measurement tools appropriate to the surrounding schist. RC samples were collected in
minerals under investigation, such as down hole gamma large plastic bags from an on-board rig splitter and
sondes, or handheld XRF instruments, etc). These a 4-6kg representative sample taken for analysis.
examples should not be taken as limiting the broad
meaning of sampling.
------------------------------------------------------------ -----------------------------------------------------------------------
* Include reference to measures taken to ensure sample * Drilling was conducted on a nominal 80m by 40m
representivity and the appropriate calibration of any spacing based on geological targets using RC drilling
measurement tools or systems used. technology, an industry standard drilling technique.
Drilling rods are 3m long and 1 sample is taken for
each rod interval.
* Collar surveys are carried using hand held GPS with
an accuracy to within 5m, and the z direction was
determined by satellite derived elevation data and is
accurate to less than a metre.
* A downhole survey for each hole was completed
------------------------------------------------------------ -----------------------------------------------------------------------
* Aspects of the determination of mineralisation that * The lithium mineralization is predominantly in the
are Material to the Public Report. form of Spodumene-bearing pegmatites, the pegmatites
are unzoned and vary in thickness.
* In cases where 'industry standard' work has been done
this would be relatively simple (e.g. 'reverse * Down hole sampling is carried out on either a 1 or 4m
circulation drilling was used to obtain 1 m samples interval from which 4-6kg of pulverized material (RC)
from which 3 kg was pulverised to produce a 30 g was pulverized to produce a 50g charge for assaying
charge for fire assay'). In other cases, more
explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (e.g.
submarine nodules) may warrant disclosure of detailed
information.
------------------------------------------------------------ -----------------------------------------------------------------------
Drilling
techniques * Drill type (e.g. core, reverse circulation, open-hole * RC drilling at a diameter of 120mm is a form of
hammer, rotary air blast, auger, Bangka, sonic, etc) reverse circulation drilling requiring annular drill
and details (e.g. core diameter, triple or standard rods. Compressed air is pumped down the outer tube
tube, depth of diamond tails, face-sampling bit or and the sample is collected from the open face
other type, whether core is oriented and if so, by drilling bit and blown up the inner tube.
what method, etc).
------------------------------------------------------------ -----------------------------------------------------------------------
Drill sample
recovery * Method of recording and assessing core and chip * Field assessment of sample volume. A theoretical
sample recoveries and results assessed. dried sample mass was estimated to be within the
range of 18 kg to 24 Kg, 70% of samples are within
the expected range. Lower than average sample
recovery is recorded only for the very top of the
drill hole due to air and sample losses into the
surrounding soil
------------------------------------------------------------ -----------------------------------------------------------------------
* Measures taken to maximise sample recovery and ensure * RC drilling sample weights were monitored to ensure
representative nature of the samples. samples were maximized. Samples were carefully loaded
into a splitter and split in the same manner ensuring
that the sample split to be sent to the assay
laboratories were in the range of 4-6kg.
------------------------------------------------------------ -----------------------------------------------------------------------
* Whether a relationship exists between sample recovery * No obvious relationships
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
------------------------------------------------------------ -----------------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * RC holes were logged in the field at the time of
and geotechnically logged to a level of detail to sampling.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Each 1m sample interval was carefully homogenized and
assessed for lithology, colour, grainsize, structure
* Whether logging is qualitative or quantitative in and mineralization.
nature. Core (or costean, channel, etc) photography.
* A representative chip sample produced from RC
* The total length and percentage of the relevant drilling was washed and taken for each 1m sample and
intersections logged. stored in a chip tray which was photographed
------------------------------------------------------------ -----------------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * RC samples were split by the rotary splitter on the
and sample half or all core taken. drill rig and sampled dry
preparation
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
------------------------------------------------------------ -----------------------------------------------------------------------
* For all sample types, the nature, quality and * The sampling was conducted using industry standard
appropriateness of the sample preparation technique. techniques and were considered appropriate
------------------------------------------------------------ -----------------------------------------------------------------------
* Quality control procedures adopted for all * The 4m composites were collected using a spear with
sub-sampling stages to maximise representivity of the spear inserted into the bag at a high angle and
samples. pushed across the sample to maximise representivity
of the sample
------------------------------------------------------------ -----------------------------------------------------------------------
* Measures taken to ensure that the sampling is * Every effort was made to ensure that the samples were
representative of the in-situ material collected, representative and not bias in anyway
including for instance results for field
duplicate/second-half sampling.
------------------------------------------------------------ -----------------------------------------------------------------------
* Whether sample sizes are appropriate to the grain * All samples were taken once they went through the
size of the material being sampled. on-board splitter from the drill rig. Depending on
the rock types on average a 4-6kg sample was sent to
the lab for analysis and the remaining material
averaged 18-24kg and remains stored on site for any
further analysis required
------------------------------------------------------------ -----------------------------------------------------------------------
Quality
of assay * The nature, quality and appropriateness of the * Samples were received, sorted, labelled and dried
data and assaying and laboratory procedures used and whether
laboratory the technique is considered partial or total.
tests * Samples were crushed to 70% less than 2mm, riffle
split off 250g, pulverize split to better than 85%
passing 75 microns and 5g was split of for assaying
* The samples were analysed using ALS laboratories
ME-MS89L Super Trace method which combines a sodium
peroxide fusion with ICP-MS instrumentation utilizing
collision/reaction cell technologies to provide the
lowest detection limits available.
* A prepared sample (0.2g) is added to sodium peroxide
flux, mixed well and then fused in at 670degC. The
resulting melt is cooled and then dissolved in 30%
hydrochloric acid. This solution is then analysed by
Inductively Coupled Plasma - Mass Spectrometry and
the results are corrected for spectral inter-element
interferences.
* The final solution is then analysed by ICP-MS, with
results corrected for spectral inter-element
interferences.
------------------------------------------------------------ -----------------------------------------------------------------------
* Not used
* For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc.
------------------------------------------------------------ -----------------------------------------------------------------------
* Nature of quality control procedures adopted (e.g. * Standards/blanks and duplicates we inserted on a 1:20
standards, blanks, duplicates, external laboratory ratio for both to samples taken
checks) and whether acceptable levels of accuracy
(i.e. lack of bias) and precision have been
established. * Duplicate sample regime is used to monitor sampling
methodology and homogeneity.
* A powder chip tray for the entire hole is completed
for both RC and RAB. A sub-sample is sieved from the
large RC bags at site into chip trays over the
pegmatite interval to assist in geological logging.
These are photographed and kept on the central
database
* Routine QA/QC controls for the method ME-MS89L
include Blanks, certified reference standards of
Lithium and duplicate samples. Samples are assayed
within runs or batches up to 40 samples. At the
fusion stage that quality control samples are
included together with the samples, so all samples
follow the same procedure until the end. Fused and
diluted samples are prepared for ICP-MS analysis. ICP
instrument is calibrated through appropriate
certified standards solutions and interference
corrections to achieve strict calibration fitting
parameters. Each 40 samples run is assayed with 2
blanks, 2 certified standards and one duplicate
samples and results are evaluated accordingly.
* A QA/QC review of all information indicated that all
assays were inside reasonable tolerance levels.
------------------------------------------------------------ -----------------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * All information was internally audited by company
and assaying either independent or alternative company personnel. personnel
------------------------------------------------------------ -----------------------------------------------------------------------
* The use of twinned holes. * Several historical holes we twinned for comparison
purposes with the modern drilling
------------------------------------------------------------ -----------------------------------------------------------------------
* Documentation of primary data, data entry procedures, * Savannah's experienced project geologists supervise
data verification, data storage (physical and all processes.
electronic) protocols.
* All field data is entered into a custom log sheet and
then into excel spreadsheets (supported by look-up
tables) at site and subsequently validated as it is
imported into the centralized Access database.
* Hard copies of logs, survey and sampling data are
stored in the local office and electronic data is
stored on the main server.
------------------------------------------------------------ -----------------------------------------------------------------------
* Discuss any adjustment to assay data. * Results were reported as Li(ppm) and were converted
to a percentage by dividing by 10,000 and then to
Li(2) O% by multiplying by 2.153
------------------------------------------------------------ -----------------------------------------------------------------------
Location
of data * Accuracy and quality of surveys used to locate drill * The coordinate of each drill hole was taken at the
points holes (collar and down-hole surveys), trenches, mine time of collecting using a handheld GPS with an
workings and other locations used in Mineral Resource accuracy of 5m.
estimation.
* The grid system used is WSG84
* Specification of the grid system used.
* Topographic accuracy was +/- 5m
* Quality and adequacy of topographic control.
------------------------------------------------------------ -----------------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Drilling was on a nominal 80m by 40m spacing and
distribution based on geological targets
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * Drill data is not currently at sufficient spacing to
grade continuity appropriate for the Mineral Resource define a mineral resource.
and Ore Reserve estimation procedure(s) and
classifications applied.
* Some samples were composited on a 4m basis based on
geological criteria, these areas were all outside the
* Whether sample compositing has been applied. pegmatite bodies where 1m sampling was completed
------------------------------------------------------------ -----------------------------------------------------------------------
Orientation
of data * Whether the orientation of sampling achieves unbiased * Drilling was orientated perpendicular to the known
in relation sampling of possible structures and the extent to strike of the pegmatites
to which this is known, considering the deposit type.
geological
structure * Drill holes we orientated at either -60 degrees or
* If the relationship between the drilling orientation -90 degrees depending on the dip of the pegmatite in
and the orientation of key mineralised structures is an attempt to get drill holes as close to true width
considered to have introduced a sampling bias, this as possible
should be assessed and reported if material.
------------------------------------------------------------ -----------------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * Samples were delivered to a courier and chain of
custody is managed by Savannah.
------------------------------------------------------------ -----------------------------------------------------------------------
Audits or * Internal company auditing
reviews * The results of any audits or reviews of sampling
techniques and data.
------------------------------------------------------------ -----------------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral
tenement * Type, reference name/number, location and ownership * All work was completed inside Block A of the Aldeia
and land including agreements or material issues with third option tenement
tenure status parties such as joint ventures, partnerships,
overriding royalties, native title interests,
historical sites, wilderness or national park and
environmental settings.
* The security of the tenure held at the time of
reporting along with any known impediments to
obtaining a license to operate in the area.
--------------------------------------------------------------- ------------------------------------------------------------------
Exploration * N/A
done by * Acknowledgment and appraisal of exploration by other
other parties parties.
--------------------------------------------------------------- ------------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * The lithium mineralization is predominantly in the
mineralisation. form of Spodumene-bearing pegmatites which are hosted
in meta-pelitic and mica schists, and occasionally
carbonate schists of upper Ordovician to lower
Devonian age. The pegmatites are unzoned and vary in
thickness from 10m-20m. Lithium is present in most
aplite compositions.
--------------------------------------------------------------- ------------------------------------------------------------------
Drill hole
Information * A summary of all information material to the * Grid used WSG84
understanding of the exploration results including a
tabulation of the following information for all
Material drill holes: * No material data has been excluded from the release
o easting and northing of the drill * All hole details are in Table 1 of the main release
hole collar
o elevation or RL (Reduced Level -
elevation above sea level in metres)
of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception
depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
--------------------------------------------------------------- ------------------------------------------------------------------
Data
aggregation * In reporting Exploration Results, weighting averaging * High Grade Intercepts are weighted averages using a
methods techniques, maximum and/or minimum grade truncations 0.5% Li O cut off with no more than 2m of internal
(e.g. cutting of high grades) and cut-off grades are dilution
usually Material and should be stated.
* Narrow zones of schist (less than 5m) have been
* Where aggregate intercepts incorporate short lengths included in the significant intercepts where they are
of high grade results and longer lengths of low grade mineralised
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
--------------------------------------------------------------- ------------------------------------------------------------------
Relationship
between * These relationships are particularly important in the * Exploration results are reported as down hole
mineralisation reporting of Exploration Results. intercepts
widths and
intercept
lengths * If the geometry of the mineralisation with respect to * No metal equivalent values have been used.
the drill hole angle is known, its nature should be
reported.
* The drill holes are detailed in the table in the main
release and the pegmatite at Aldeia appears to dip at
* If it is not known and only the down hole lengths are around 30degrees to the north west
reported, there should be a clear statement to this
effect (e.g. 'down hole length, true width not
known').
--------------------------------------------------------------- ------------------------------------------------------------------
Diagrams
* Appropriate maps and sections (with scales) and * Relevant diagrams and maps have been included in the
tabulations of intercepts should be included for any main body of the release.
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
--------------------------------------------------------------- ------------------------------------------------------------------
Balanced * All relevant results available have been reported.
reporting * Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
--------------------------------------------------------------- ------------------------------------------------------------------
Other
substantive * Other exploration data, if meaningful and material, * The interpretation of the results is consistent with
exploration should be reported including (but not limited to): the observations and information obtained from the
data geological observations; geophysical survey results; data collected.
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
--------------------------------------------------------------- ------------------------------------------------------------------
Further
work * The nature and scale of planned further work (e.g. * Further RC drilling to track the pegmatite down dip
tests for lateral extensions or depth extensions or and along strike to the west is underway
large-scale step-out drilling).
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
--------------------------------------------------------------- ------------------------------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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