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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Savannah Resources Plc | LSE:SAV | London | Ordinary Share | GB00B647W791 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.30 | 3.20 | 3.40 | 3.30 | 3.30 | 3.30 | 239,195 | 07:47:54 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Gold Ores | 0 | -2.86M | -0.0016 | -20.63 | 60.33M |
From Apr 2019 to Apr 2024
TIDMSAV
RNS Number : 8468F
Savannah Resources PLC
26 February 2018
26 February 2018
Savannah Resources Plc
200% Increase in Lithium Mineral Resource Estimate to 9.1Mt and Significant Exploration Target at Mina do Barroso Lithium Project, Portugal
Savannah Resources plc (AIM: SAV and SWB: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to announce a revised JORC 2012-Compliant Inferred Mineral Resource Estimate and an initial Exploration Target for the Mina do Barroso Lithium Project ('Mina do Barroso' or the '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/8468F_-2018-2-23.pdf
Overview
-- 200% increase in Inferred Mineral Resource Estimate to 9.1Mt at 1.03% Li O containing 94,100t of Li O using a 0.5% Li O cut-off grade
Hot Features
Premium
Deposit Tonnes Li O% Li O Tonnes
(Mt)
-------------- ------- ------ ------------
Reservatorio 3.2 1.00 32,000
-------------- ------- ------ ------------
Grandao 5.5 1.04 56,500
-------------- ------- ------ ------------
NOA 0.5 1.23 5,600
-------------- ------- ------ ------------
Total 9.1 1.03 94,100
-------------- ------- ------ ------------
-- Mineral Resource Estimate covers three of at least eight known pegmatites on the Mina do Barroso Mining Lease
-- Further drilling is now underway utilising both Reverse Circulation (RC) and diamond drill rigs, targeting both down dip and strike extensions of currently defined Mineral Resource Estimate
-- Further Mineral Resource Estimate updates are expected during 2018 as the drill programme advances - Grandao resource is based on the first 40 holes drilled only (of the 61 drilled to date)
-- Savannah remains on track to make a development decision by the end of the year
-- In addition, an initial Exploration Target* for the Grandao and Reservatorio deposits of 8-12Mt at 1.0% to 1.2% Li O has been defined. This gives a project target (including Mineral Resources) of 17-21Mt at 1.0-1.2% Li O.
*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's CEO, David Archer said: "The Mineral Resource Estimate defined from our 2017 drill programme supports our belief that Mina do Barroso is one of Europe's most promising lithium projects. Whilst we are delighted with the results to-date, the Exploration Target underscores the potential to increase the aggregate Mineral Resource Estimate over the coming months, especially as we now have two drilling rigs on site.
"This potential is matched by excellent first pass metallurgical test results with conventional processes, the spodumene dominant nature of the deposits, open-cut potential, access to excellent infrastructure including roads and ports, and the premier nature of the jurisdiction.
"Looking ahead, we are progressing with more detailed, second pass metallurgical test work and hope to shortly commission a Scoping Study to lead into a Definitive Feasibility Study later this year. We believe that we are moving towards defining a project that will sustain one of Europe's most significant, long-term, lithium mining operations."
Figure 1. Mina do Barroso Project Summary Map showing prospects and drilling completed to date - See PDF
Mineral Resource Estimate
A Mineral Resource Estimate for the Grandao and NOA Lithium Deposits has been completed by Payne Geological Services Pty Ltd, an external and independent mining consultancy - http://www.paynegeo.com.au/paul-payne. The Deposits form part of Savannah's Mina do Barroso Lithium Project, located in northern Portugal.
The Grandao Deposit comprises two separate pegmatite intrusions. The upper part of the Deposit occurs within a broad, flat-lying pegmatite body with a typical thickness of 20m-40m. The lower portion appears to be a steep dipping dyke, which is 15m-20m in true width. The geometry of the lower zone is not clear due to the current sparse drilling in this portion of the Deposit, where only three holes drilled to the depths to intersect the zone. The overall Grandao Mineral Resource Estimate is based on results from 40 RC drill holes completed by Savannah in 2017. Both pegmatite zones remain open along strike (Figure 2-3).
Figure 2. Grandao Resource Model - See PDF
Figure 3. Cross Section through Grandao Resource Model - See PDF
At the NOA Deposit, mineralisation is hosted in a steep dipping, NW trending tabular dyke 5m-10m in true width. The Mineral Resource Estimate is based on results from 9 reverse circulation drill holes completed by Savannah in 2017. The Deposit outcrops over a strike length of approximately 400m and remains open along strike and at depth (Figure 4-5).
Figure 4. NOA Resource Model - See PDF
Figure 5. Cross Section through NOA Resource Model - See PDF
The Mineral Resource Estimate has been classified as an Inferred Mineral Resource Estimate in accordance with the JORC Code, 2012 Edition and are shown in Table 1.
Table 1. Grandao and NOA Deposits Inferred Mineral Resource Estimate
(above 0.5% Li(2) O cut-off grade)
Deposit Li(2) Fe(2) Li(2)
Tonnes O O(3) O
Mt % % Tonnes
--------- ------- ------ ------ -------
Grandao 5.5 1.04 1.2 56,500
NOA 0.5 1.23 1.3 5,600
--------- ------- ------ ------ -------
Resource Summary - Grandao and NOA Lithium Deposits
Geology
At Mina do Barroso, lithium mineralisation occurs predominantly in the form of spodumene-bearing pegmatites, which are hosted in metapelitic and mica schists, and occasionally carbonate schists of upper Ordovician to lower Devonian age. The main Grandao pegmatite is a flat-lying, tabular zone defined over an area of 400m north-south and 330m east-west and varies in thickness from 10m-50m. It is very close to surface and is visible in outcrop over a significant area. A lower zone of mineralisation is also present at Grandao, hosted in what is interpreted to be a steep-dipping, tabular pegmatite dyke 15m-20m in true width. The geometry is not well defined due to the currently sparse drilling (Figure 4).
Figure 6. Grandao Geological Model - See PDF
At the NOA Deposit, the host pegmatite is a steep dipping, northwest trending dyke, which is 5-10m in true width. It has been mapped in outcrop over much of the interpreted 400m strike length of the Mineral Resource Estimate.
Figure 7. NOA Geological Model - See PDF
At the Project, lithium is present in most aplite compositions and laboratory test work confirms that the lithium is almost exclusively within spodumene. Distinct lithium grade zonation occurs within the pegmatites, with weakly mineralised zones often evident at the margins of the dykes. Minor xenoliths and inliers of schist are observed on occasions.
The weathering profile comprises a shallow, surficial zone of weak to moderate oxidation, particularly of the schistose country rock. A zone of deeper weathering exists on the western side of the Grandao Deposit with moderate oxidation to a depth of up to 50m.
Drilling
A total of 40 RC holes define the Grandao Inferred Mineral Resource Estimate. The holes were drilled on an approximate grid spacing of 40m-60m. All holes were drilled by Savannah in 2017.
The NOA Deposit is defined by 9 RC holes. In the southeast portion of the deposit, holes are drilled at 30m spacings on 50-60m spaced cross sections. The northwest portion of the deposit is defined by single drill holes on 60-80m spaced sections.
Drill collar locations are recorded in Universal Traverse Mercator ("UTM") coordinates using hand-held GPS, with elevations adjusted to a regional topographic Digital Terrain Model ("DTM"). All Savannah drilling has been down-hole surveyed using a gyroscopic tool.
Sampling and Sub-Sampling Techniques
For the Savannah drilling, a face-sampling hammer was used with samples collected at 1m intervals from pegmatite zones with composite sampling of typically 4m in the surrounding schists. The 1m samples were collected through a rig-mounted rotary splitter and were 4kg-6kg in weight. The 4m composites were collected by spear sampling of the 1m intervals. Samples were weighed to assess the sample recovery which was determined to be satisfactory.
Sample Analysis Method
For all Savannah drilling, whole samples were crushed then riffle split to produce a 250g split for pulverizing and analysis.
The samples were analysed using ALS laboratories ME-MS89L Super Trace method which combines a sodium peroxide fusion with ICP-MS analysis and a multi-element suite was analysed.
QAQC protocols were in place for the drilling programmes and included the used of standards and field duplicates. The data has confirmed the quality of the sampling and assaying for use in Mineral Resource estimation.
Estimation Methodology
For the Grandao Mineral Resource Estimate, a Surpac block model was constructed with block sizes of 20m (EW) by 10m (NS) by 5m (elevation) with sub-celling to 5m by 2.5m by 1.25m. The typical drill hole spacing is 40m-60m.
For the NOA Mineral Resource Estimate, block size used was 20m (EW) by 5m (NS) by 5m (elevation) with sub-celling to 5m by 1.25m by 1.25m.
Interpretation of the pegmatite dykes was completed using detailed geological logging and Fe geochemistry. Wireframes of the pegmatites were prepared and within those the sample data was extracted and analysed. A clear break in the grade distribution occurs at 0.5% Li(2) O and this grade threshold was used to prepare the internal grade domains for estimation. Zones of unmineralised schist within the pegmatite body were selectively wireframed and excluded from the estimate.
At Grandao, pegmatite and mineralisation domains were extrapolated up to 40m horizontally from the drill hole intersections. At NOA, wireframes were extended 40m-60m down dip from intersections and for 40m along strike.
Sample data was composited into 1m intervals then block model grades estimated using ordinary kriging (OK) grade interpolation at Grandao and inverse distance squared (ID2) grade interpolation at NOA. A first pass search range of 50m was used and oriented to match the dip and strike of the mineralisation. A minimum of 10 samples and a maximum of 24 samples were used to estimate each block. The majority of the Mineral Resource Estimate (63% Grandao, 61% NOA) was estimated in the first pass with expanded search radii of 100m and 200m used for the blocks not estimated in the first pass. No high-grade cuts were applied to the estimate.
Iron within the pegmatites is uniformly low, with a mean Fe(2) O(3) grade of 1.2% at Grandao and 1.3% at NOA. Other similar deposits have reported that a large proportion of the assayed iron is due to contamination from the abrasion of steel drilling and sample preparation equipment and this will be investigated as part of ongoing studies at the project.
Bulk density determinations (helium pycnometer) were carried out on 87 sample pulps. Bulk density values applied to the estimates were 2.5t/m(3) for oxide lithologies, 2.7t/m(3) for unoxidized pegmatite and 2.8t/m(3) for unoxidized schist.
Mineral Resource Classification
The Mineral Resource Estimate was classified in accordance with the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC, 2012).
The main pegmatite dyke at Grandao has generally been defined by 40m to 60m spaced drill holes. The majority of holes have consistently intersected pegmatite, with the majority intersecting resource grade Li(2) O mineralisation and the continuity of lithium mineralisation is good. The deep dyke has been delineated by only three drill holes. Detailed collar and topographic surveys were not available for the deposit and until these are received the deposit has been classified as an Inferred Mineral Resource Estimate.
The NOA Deposit has been drilled at 30m to 80m hole spacings. All holes have intersected resource grade lithium mineralisation but due to the broad hole spacing and small number of intersections, the Deposit has been classified as an Inferred Mineral Resource Estimate.
The main shallow pegmatite at Grandao lies entirely above 90m vertical depth. The deep pegmatite has been reported to a depth of 260m vertical. The NOA mineralisation has been reported to a maximum vertical depth of 90m.
Cut-off Grades
The shallow, outcropping nature of both deposits and the flat lying, shallow nature of the Grandao pegmatite suggests good potential for open pit mining if sufficient resources can be delineated to consider a mining operation. The lower pegmatite at Grandao has favourable geometry and thickness to consider low-cost underground mining. As such, the Mineral Resource Estimate has been reported at a 0.5% Li(2) O lower cut-off grade to reflect assumed exploitation by low cost mining methods.
Metallurgy
Metallurgical test work has been conducted by Savannah on representative mineralisation at Mina do Barroso. The work was completed by Nagrom Metallurgical in Australia and confirmed that high-grade lithium, low grade iron concentrate can be generated from the mineralisation using conventional processing technology. Microscopy confirmed that the concentrate was almost entirely spodumene.
Modifying Factors
No modifying factors were applied to the reported Mineral Resource Estimate. Parameters reflecting mining dilution, ore loss and metallurgical recoveries will be considered during the any future mining evaluation of the project.
Exploration Target
During its first six months of exploration, Savannah has defined a Mineral Resource Estimate from three deposits in the Mina do Barroso Project area. All three deposits remain open and untested by drilling either down dip or along strike of the defined Mineral Resource Estimate and there is excellent potential to extend the deposits with further drilling. In addition, there are numerous other outcropping pegmatite dykes that require drill testing to determine if they are also lithium bearing.
Savannah has been drilling at Mina do Barroso since mid-2017 and ongoing programmes for 2018 have commenced which are designed to test for extensions of the defined deposits and to test other outcropping pegmatite targets in the Project area. Infill drilling to increase the confidence in the reported Inferred Mineral Resource Estimate is also being planned.
To quantify the potential of the Project beyond the currently defined Inferred Mineral Resource Estimate, an initial Exploration Target* for the Grandao and Reservatorio Deposits of 8-12Mt at 1.0% to 1.2% Li O has been defined. This gives a project target (including Mineral Resource Estimate) of 17-21Mt at 1.0-1.2% Li O.
Table 2. Exploration Targets for Mina do Barroso Project
Deposit Tonnage Range Li(2)
(Mt) O %
Lower Upper
Reservatorio
Bottom of Inferred to 200m
Vertical Depth 5.0 7.0 1.0-1.2%
Grandao
50% Expansion of Upper
Pegmatite 2.0 3.0 1.0-1.2%
100% Expansion of Lower
Pegmatite 1.0 2.0 1.0-1.2%
------------------------------------ ------- ------- ---------
Total Mina do Barroso Exploration
Target 8.0 12.0 1.0-1.2%
------------------------------------ ------- ------- ---------
*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.
Reservatorio Exploration Target
A Mineral Resource Estimate was completed for the Reservatorio Deposit in December 2017. It was modelled and estimated for the full extent of the SAV drilling and the Inferred Mineral Resource Estimate was extended between 40m and 100m down dip from the deepest drill holes.
There is no information to suggest that the pegmatite and lithium mineralisation does not continue with the same characteristics and grade as the drilled portion. As a result, beneath the Inferred Mineral Resource Estimate boundary, a wireframe model was created, assuming continuation of the mineralisation down-dip to 200m below surface. Applying a density of 2.6t/m(3) as used in the Reservatorio Inferred Mineral Resource Estimate, and assuming the same lithium grade observed in the drilled portion, the Exploration Target has been defined as 5 Mt to 7 Mt at a grade of 1.0% to 1.2% Li(2) O.
Grandao Exploration Target
An Inferred Mineral Resource Estimate was completed for the Grandao Deposit in February 2018. It was modelled and estimated for the area drilled in detail by SAV. The Inferred Mineral Resource Estimate was extended between 20m and 40m along strike from drilled area.
The shallow pegmatite appears to be closed off by drilling to the northeast and to the southeast. To the west and northwest, the mineralisation remains open and untested. To the south some sparse drilling has confirmed the presence of mineralised pegmatite for up to 150m from the Mineral Resource Estimate boundary and the limits of the mineralisation have not been found. There is no information to suggest that the pegmatite and lithium mineralisation does not continue to the west and northwest with the same characteristics and grade as the drilled portion.
The Exploration Target for the shallow pegmatite is considered to be at least 50% of the defined Mineral Resource Estimate for that portion of the deposit so the Exploration Target has been defined as 2 Mt to 3 Mt at a grade of 1.0% to 1.2% Li(2) O.
The deep pegmatite has been intersected in only three holes which have recorded thick, high grade mineralisation. The mineralisation is open in all directions and the Exploration Target has been defined as a 100% increase on the defined Mineral Resource Estimate which gives a Exploration Target of 1 Mt to 2 Mt at a grade of 1.0% to 1.2% Li(2) O.
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 Australian 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.
The Information in this report that relates to Mineral Resources and Exploration Targets is based on information compiled by Mr Paul Payne, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Payne is a full-time employee of Payne Geological Services. Mr Payne has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Payne consents to the inclusion in the report of the matters based on his 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
plc 7117 2489
David Hignell / Gerry Northland Capital Tel: +44 20
Beaney (Nominated Partners Ltd 3861 6625
Adviser)
Christopher Raggett finnCap Ltd Tel: +44 20
/ Emily Morris (Joint 7220 0500
Broker)
Jon Belliss Beaufort Securities Tel: +44 20
(Joint Broker) Ltd 7382 8300
Charlotte Page / St Brides Partners Tel: +44 20
Lottie Wadham Ltd 7236 1177
(Financial PR)
About Savannah
We are a diversified resources group (AIM: SAV and SWB: 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. We are committed to serving the interests of our shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.
The group is listed and regulated on AIM and the Company's ordinary shares are also available on the Börse Stuttgart (SWB) under the ticker "SAV"
Appendix 1: Detailed Mineral Resource Tables
Grandao February 2018 Inferred Mineral Resource
Estimate
0.5% Li O Cut-off
Bench Transitional Fresh Total
------------------------------------------ ---------------------------------------- -----------------------------------------------------
Li(2) Ta(2) Fe(2) Li(2) Ta(2) Fe(2) Li(2) Ta(2) Fe(2) Li(2)
Top Tonnes O O(5) O(3) Tonnes O O(5) O(3) Tonnes O O(5) O(3) O
RL t % ppm % t % ppm % t % ppm % Tonnes
------ ------------ -------- -------- -------- ---------- -------- -------- -------- ------------ -------- -------- -------- ---------
590 9,000 0.71 29 1.8 9,000 0.71 29 1.8 100
580 101,000 0.91 27 1.6 1,000 1.25 27 1.2 102,000 0.92 27 1.6 900
570 202,000 0.95 26 1.3 168,000 1.20 20 1.3 369,000 1.07 23 1.3 3,900
560 112,000 1.09 18 1.3 330,000 1.03 22 1.2 442,000 1.05 21 1.2 4,600
550 228,000 1.19 17 1.3 254,000 0.89 23 1.1 482,000 1.03 21 1.2 5,000
540 301,000 1.07 18 1.2 197,000 0.80 24 1.1 498,000 0.96 21 1.2 4,800
530 467,000 0.96 20 1.2 145,000 0.83 22 1.1 612,000 0.93 20 1.2 5,700
520 413,000 0.96 20 1.1 189,000 0.99 18 1.2 602,000 0.97 20 1.1 5,900
510 191,000 0.99 17 1.2 322,000 1.10 16 1.3 513,000 1.06 16 1.3 5,400
500 79,000 1.05 14 1.2 335,000 1.08 15 1.4 414,000 1.07 15 1.3 4,500
490 10,000 1.28 24 1.4 261,000 1.19 19 1.3 271,000 1.20 19 1.3 3,200
480 206,000 1.20 19 1.2 206,000 1.20 19 1.2 2,500
470 150,000 1.19 19 1.2 150,000 1.19 19 1.2 1,800
460 80,000 1.26 16 1.3 80,000 1.26 16 1.3 1,000
450 64,000 1.30 19 1.2 64,000 1.30 19 1.2 800
440 57,000 1.27 19 1.0 57,000 1.27 19 1.0 700
430 47,000 1.23 18 1.0 47,000 1.23 18 1.0 600
420 45,000 1.19 18 1.0 45,000 1.19 18 1.0 500
410 48,000 1.10 18 1.0 48,000 1.10 18 1.0 500
400 51,000 1.15 18 1.0 51,000 1.15 18 1.0 600
390 53,000 1.05 18 1.0 53,000 1.05 18 1.0 600
380 51,000 1.04 18 1.0 51,000 1.04 18 1.0 500
370 49,000 0.93 17 1.0 49,000 0.93 17 1.0 500
360 43,000 0.93 18 1.0 43,000 0.93 18 1.0 400
350 42,000 0.80 17 1.0 42,000 0.80 17 1.0 300
340 38,000 0.82 17 1.0 38,000 0.82 17 1.0 300
330 36,000 0.75 17 1.0 36,000 0.75 17 1.0 300
320 30,000 0.78 17 1.0 30,000 0.78 17 1.0 200
310 29,000 0.73 17 1.0 29,000 0.73 17 1.0 200
300 15,000 0.74 17 1.1 15,000 0.74 17 1.1 100
290 2,000 0.77 17 1.0 2,000 0.77 17 1.0 10
Total 2,112,000 1.01 20 1.2 3,339,000 1.05 19 1.2 5,450,000 1.04 19 1.2 56,500
------ ------------ -------- -------- -------- ---------- -------- -------- -------- ------------ -------- -------- -------- ---------
NOA February 2018 Inferred Mineral Resource Estimate
0.5% Li O Cut-off
Bench Transitional Fresh Total
---------------------------------------- -------------------------------------------- -----------------------------------------------------
Li(2) Ta(2) Fe(2) Li(2) Ta(2) Fe(2) Li(2) Ta(2) Fe(2) Li(2)
Top Tonnes O O(5) O(3) Tonnes O O(5) O(3) Tonnes O O(5) O(3) O
RL t % ppm % t % ppm % t % ppm % Tonnes
------ ---------- -------- -------- -------- -------------- -------- -------- -------- ------------ -------- -------- -------- ---------
700 2,000 1.26 31 1.3 1.26 31 1.3 3,000 1.26 31 1.3 30
690 14,000 1.23 26 1.3 30,000 1.22 30 1.4 44,000 1.23 29 1.3 500
680 1,000 1.26 22 1.3 61,000 1.21 28 1.3 62,000 1.21 28 1.3 700
670 66,000 1.20 27 1.3 66,000 1.20 27 1.3 800
660 68,000 1.19 23 1.3 68,000 1.19 23 1.3 800
650 64,000 1.22 22 1.3 64,000 1.22 22 1.3 800
640 52,000 1.27 21 1.4 52,000 1.27 21 1.4 700
630 38,000 1.30 21 1.4 38,000 1.30 21 1.4 500 620 31,000 1.29 20 1.4 31,000 1.29 20 1.4 400 610 31,000 1.28 20 1.4 31,000 1.28 20 1.4 400 Total 17,000 1.24 27 1.3 440,000 1.23 24 1.3 457,000 1.23 24 1.3 5,600 ------ ---------- -------- -------- -------- -------------- -------- -------- -------- ------------ -------- -------- -------- ---------
APPIX 2 - 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 (eg cut channels, * Reverse circulation (120mm size) samples were taken
random chips, or specific specialised industry on either 1 intervals for pegmatite or 4m composites
standard measurement tools appropriate to the in surrounding schist. RC samples were collected in
minerals under investigation, such as down hole gamma large plastic bags from an onboard rig splitter and a
sondes, or handheld XRF instruments, etc). These 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 from 10m-109m.
* In cases where 'industry standard' work has been done
this would be relatively simple (eg '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 (eg
submarine nodules) may warrant disclosure of detailed
information.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Drilling
techniques * Drill type (eg 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 (eg 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 * Method of recording and assessing core and chip * Field assessment of sample volume. A theoretical
recovery 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, * 1m RC samples were split by the rotary splitter on
and sample half or all core taken. the drill rig and sampled dry
preparation
* If non-core, whether riffled, tube sampled, rotary * The 4m composites were collected using a spear with
split, etc and whether sampled wet or dry. the spear inserted into the bag at a high angle and
pushed across the sample to maximise representivity
of the sample
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* 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 * Field duplicates were used to test repeatability of
sub-sampling stages to maximise representivity of the sub-sampling and were found to be satisfactory
samples.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* 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 biased in any way
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. onboard 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 analyzed by
Inductively Coupled Plasma - Mass Spectrometry and
the results are corrected for spectral inter-element
interferences.
* The final solution is then analyzed 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 (eg * Standards/blanks and duplicates were inserted on a
standards, blanks, duplicates, external laboratory 1:20 ratio for both to samples taken
checks) and whether acceptable levels of accuracy (ie
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 we 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 were twinned for comparison
purposes with the modern drilling
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* Documentation of primary data, data entry procedures, * Savannah's experienced project geologists supervised
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
Li2O% 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 at sufficient spacing to define an
grade continuity appropriate for the Mineral Resource Inferred 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 were 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 * Internal company auditing
or 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 the Mina do Barroso
and land including agreements or material issues with third project C-100
tenure parties such as joint ventures, partnerships,
status overriding royalties, native title interests,
historical sites, wilderness or national park and * Savannah has received written confirmation from the
environmental settings. DGEG that under article 24 of Decree-Law no. 88/90 of
March 16 being relevant justification based on the
resources allocated exploited and intended, Savannah
* The security of the tenure held at the time of has been approved an expansion up to 250m of C100
reporting along with any known impediments to mining concession in specific areas where a resource
obtaining a license to operate in the area. has been defined and the requirement for the
expansion can be justified. This expansion and
re-definition of the boundary is currently underway
in the Reservatorio area and as a result potential
mineralisation in the area has been included into the
exploration target
--------------- --------------------------------------------------------------- --------------------------------------------------------------------
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 15m-109m. 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 * Drill hole intersections used in the resource have
the drill hole collar been previously reported.
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 * No new exploration results have been reported in this
methods techniques, maximum and/or minimum grade truncations release.
(eg cutting of high grades) and cut-off grades are
usually Material and should be stated.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
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 NOA appears to dip at
* If it is not known and only the down hole lengths are around 40 degrees to the north west and at Grandao it
reported, there should be a clear statement to this is sub horizontal with an additional sub-vertical
effect (eg 'down hole length, true width not known'). component In places
--------------- ----------------------------------------------------------------- ------------------------------------------------------------------
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
reporting * Where comprehensive reporting of all Exploration * All relevant results available have been previously
Results is not practicable, representative reporting reported.
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 (eg * Further rock chip sampling, channel sampling and RC
tests for lateral extensions or depth extensions or drilling. Once planning has been completed the detail
large-scale step-out drilling). will be provided
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
--------------- ----------------------------------------------------------------- ------------------------------------------------------------------
Section 3 Estimation and Reporting of Mineral Resources
Criteria JORC Code explanation Commentary
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Database
integrity * Measures taken to ensure that data has not been * The assay data was captured electronically to prevent
corrupted by, for example, transcription or keying transcription errors.
errors, between its initial collection and its use
for Mineral Resource estimation purposes.
* Validation included visual review of results.
* Data validation procedures used.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Site visits
* Comment on any site visits undertaken by the * Numerous site visits were undertaken by Dale Ferguson
Competent Person and the outcome of those visits. in 2017 which included an inspection of the drilling
process, outcrop area and confirmation that no
obvious impediments to future exploration or
* If no site visits have been undertaken indicate why development were present.
this is the case.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Geological
interpretation * Confidence in (or conversely, the uncertainty of) the * The pegmatite dykes hosting the Grandao and NOA
geological interpretation of the mineral deposit. mineralisation are well defined in outcrop and in
drilling and boundaries are generally very sharp and
distinct.
* Nature of the data used and of any assumptions made.
* The shape and extent of the >0.5% Li2O mineralisation
* The effect, if any, of alternative interpretations on is clearly controlled by the general geometry of the
Mineral Resource estimation. pegmatites.
* The use of geology in guiding and controlling Mineral * Zonation of lithium within the pegmatite is evident,
Resource estimation. and typically the margins are weakly mineralised.
* Xenoliths or inliers of barren schist country rock
* The factors affecting continuity both of grade and occur within the pegmatite, and these have been
geology. excluded from the estimate where large enough to
model.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Dimensions
* The extent and variability of the Mineral Resource * The Grandao upper pegmatite has an extent of 400m NS
expressed as length (along strike or otherwise), plan and 330m EW, a dip extent of 210m EW and a maximum
width, and depth below surface to the upper and lower vertical depth of 90m. The thickness of the
limits of the Mineral Resource. mineralisation ranges from 20m to 50m.
* The Grandao lower pegmatite has a modelled extent of
60m EW, a dip extent of 230m and a maximum vertical
depth of 260m. The thickness of the mineralisation
ranges from 15m to 20m.
* The NOA pegmatite has an SE-NW strike extent of 400m,
is modelled to 90m vertical depth and has a true
thickness of 5-10m.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Estimation and
modelling * The nature and appropriateness of the estimation * Ordinary kriging (Grandao) and inverse distance
techniques technique(s) applied and key assumptions, including squared (NOA) was used to estimate average block
treatment of extreme grade values, domaining, grades within the resource.
interpolation parameters and maximum distance of
extrapolation from data points. If a computer
assisted estimation method was chosen include a * Surpac software was used for the estimation.
description of computer software and parameters used.
* Samples were composited to 1m intervals to match the
* The availability of check estimates, previous sample lengths. Due to the extremely low CV of the
estimates and/or mine production records and whether data no high grade cuts were applied to the estimate.
the Mineral Resource estimate takes appropriate
account of such data.
* At Grandao the parent block dimensions were 20m EW by
10m NS by 5m vertical with sub-cells of 5m by 2.5m by
* The assumptions made regarding recovery of 1.25m. Cell size was based on 50% of the average
by-products. drill hole spacing.
* Estimation of deleterious elements or other non-grade * At NOA the parent block dimensions were 20m EW by 5m
variables of economic significance (eg sulphur for NS by 5m vertical with sub-cells of 5m by 1.25m by
acid mine drainage characterisation). 1.25m. Cell size was based on 50% of the minimum
drill hole spacing.
* In the case of block model interpolation, the block
size in relation to the average sample spacing and * No previous resource estimates have been prepared for
the search employed. the deposits.
* Any assumptions behind modelling of selective mining * No assumptions have been made regarding recovery of
units. by-products.
* Any assumptions about correlation between variables. * The grade of Fe2O3 was estimated for the deposit,
with a mean grade of 1.2% for Grandao and 1.3% for
NOA.
* Description of how the geological interpretation was
used to control the resource estimates.
* An orientated ellipsoid search was used to select
data and was based on drill hole spacing and the
* Discussion of basis for using or not using grade geometry of the pegmatite dyke.
cutting or capping.
* A search of 50m was used with a minimum of 10 samples
* The process of validation, the checking process used, and a maximum of 24 samples which resulted in 63%
the comparison of model data to drill hole data, and (Grandao) and 61% (NOA) of blocks being estimated.
use of reconciliation data if available. The remaining blocks were estimated with search radii
of 100m and 200m.
* Selective mining units were not modelled in the
Mineral Resource model. The block size used in the
model was based on drill sample spacing and deposit
geometry.
* The deposit mineralisation was constrained by
wireframes prepared using a 0.5% Li(2) O grade
envelope.
* For validation, quantitative spatial comparison of
block grades to assay grades was carried out using
swath plots;
* Global comparisons of drill hole and block model
grades were also carried out.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Moisture
* Whether the tonnages are estimated on a dry basis or * Tonnages and grades were estimated on a dry in situ
with natural moisture, and the method of basis. No moisture values were reviewed.
determination of the moisture content.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Cut-off
parameters * The basis of the adopted cut-off grade(s) or quality * The shallow, outcropping nature of both deposits and
parameters applied. in particular the flat lying, shallow geometry of the
Grandao deposit suggests good potential for open pit
mining if sufficient resources can be delineated to
consider a mining operation. As such, the Mineral
Resource has been reported at a 0.5% Li(2) O lower
cut-off grade to reflect assumed exploitation by open
pit mining.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Mining factors
or assumptions * Assumptions made regarding possible mining methods, * Based on comparison with other similar deposits, the
minimum mining dimensions and internal (or, if Mineral Resource is considered to have sufficient
applicable, external) mining dilution. It is always grade and metallurgical characteristics for economic
necessary as part of the process of determining treatment if an operation is established at the site.
reasonable prospects for eventual economic extraction
to consider potential mining methods, but the
assumptions made regarding mining methods and * No mining parameters or modifying factors have been
parameters when estimating Mineral Resources may not applied to the Mineral Resource.
always be rigorous. Where this is the case, this
should be reported with an explanation of the basis
of the mining assumptions made.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Metallurgical
factors or * The basis for assumptions or predictions regarding * Metallurgical test work has been conducted by
assumptions metallurgical amenability. It is always necessary as Savannah on representative mineralisation at the Do
part of the process of determining reasonable Barroso project. The work was completed by Nagrom
prospects for eventual economic extraction to Metallurgical in Australia and confirmed that high
consider potential metallurgical methods, but the grade lithium, low grade iron concentrate can be
assumptions regarding metallurgical treatment generated from the mineralisation using conventional
processes and parameters made when reporting Mineral processing technology. Microscopy confirmed that the
Resources may not always be rigorous. Where this is concentrate was almost entirely spodumene.
the case, this should be reported with an explanation
of the basis of the metallurgical assumptions made.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Environmental
factors or * Assumptions made regarding possible waste and process * The area is not known to be environmentally sensitive
assumptions residue disposal options. It is always necessary as and there is no reason to think that proposals for
part of the process of determining reasonable development including the dumping of waste would not
prospects for eventual economic extraction to be approved if planning and permitting guidelines are
consider the potential environmental impacts of the followed.
mining and processing operation. While at this stage
the determination of potential environmental impacts,
particularly for a greenfields project, may not
always be well advanced, the status of early
consideration of these potential environmental
impacts should be reported. Where these aspects have
not been considered this should be reported with an
explanation of the environmental assumptions made.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Bulk density
* Whether assumed or determined. If assumed, the basis * Bulk density determinations (helium pycnometer) were
for the assumptions. If determined, the method used, carried out on 87 sample pulps. Bulk density values
whether wet or dry, the frequency of the measurements applied to the estimates were 2.5t/m(3) for
, transitional lithologies, 2.7t/m(3) for unoxidized
the nature, size and representativeness of the pegmatite and 2.8t/m(3) for unoxidized schist.
samples.
* The bulk density for bulk material must have been
measured by methods that adequately account for void
spaces (vugs, porosity, etc), moisture and
differences between rock and alteration zones within
the deposit.
* Discuss assumptions for bulk density estimates used
in the evaluation process of the different materials.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Classification
* The basis for the classification of the Mineral * The Mineral Resources was classified in accordance
Resources into varying confidence categories. with the Australasian Code for the Reporting of
Exploration Results, Mineral Resources and Ore
Reserves (JORC, 2012).
* Whether appropriate account has been taken of all
relevant factors (ie relative confidence in
tonnage/grade estimations, reliability of input data, * The entire Mineral Resource was classified as
confidence in continuity of geology and metal values, Inferred on the basis of data quality, sample spacing,
quality, quantity and distribution of the data). and grade variability.
* Whether the result appropriately reflects the * The deposit has been reviewed by the Competent Person
Competent Person's view of the deposit. and the results reflect the view of the Competent
Person.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of Mineral * The Mineral Resource estimate has been checked by an
Resource estimates. internal audit procedure.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
Discussion of
relative * Where appropriate a statement of the relative * The estimate utilised good estimation practices, high
accuracy/ accuracy and confidence level in the Mineral Resource quality drilling, sampling and assay data. The extent
confidence estimate using an approach or procedure deemed and dimensions of the mineralisation are sufficiently
appropriate by the Competent Person. For example, the defined by outcrop and the broad spaced drilling. The
application of statistical or geostatistical deposit is considered to have been estimated with a
procedures to quantify the relative accuracy of the high level of accuracy.
resource within stated confidence limits, or, if such
an approach is not deemed appropriate, a qualitative
discussion of the factors that could affect the * The Mineral Resource statement relates to global
relative accuracy and confidence of the estimate. estimates of tonnes and grade.
* The statement should specify whether it relates to * There is no historic production data to compare with
global or local estimates, and, if local, state the the Mineral Resource.
relevant tonnages, which should be relevant to
technical and economic evaluation. Documentation
should include assumptions made and the procedures
used.
* These statements of relative accuracy and confidence
of the estimate should be compared with production
data, where available.
--------------- ------------------------------------------------------------ -----------------------------------------------------------------
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