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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 | 739,191 | 08:00:00 |
| 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 : 6029K
Savannah Resources PLC
17 December 2018
17 December 2018
Savannah Resources Plc
Further Zones of Lithium Mineralisation Identified at the Grandao and Pinheiro Deposits
Mina do Barroso Lithium Project ('MdB' or 'the Project'), Portugal
HIGHLIGHTS:
-- Reverse Circulation ('RC') and diamond drilling at both the Grandao and Pinheiro Deposits has returned a series of significant lithium intersections, confirming the potential of the project area
-- Key lithium intersections at Grandao include:
o 22.9m at 1.05% Li O from 84.1m in 18GRADD010
o 29.55m at 1.67% Li O from 95.45m in 18GRADD011
o 53.6m at 1.41% Li O from 65m in 18GRADD014*
o 20.7m at 1.21% Li O from 41.5m in18GRADD017**
o 28m at 1.17% Li O from 15m in 18GRARC118
o 18m at 1.47% Li O from 39m in 18GRARC119
o 27m at 1.41% Li O from 36m in 18GRARC120
-- Key Lithium intersections at Pinheiro include:
o 9m at 1.05% Li O from 39m in 18PNRRC012
o 27m at 0.91% Li O from 57m in 18PNRRC017
-- Drilling continues to expand both the Grandao and Pinheiro deposits with lithium mineralisation confirmed over significant strike lengths and grades at the Grandao deposit increasing with depth
-- RC drilling will commence on the Aldeia ground in early 2019 -- RC and diamond drilling at the project now total 295 holes for 24,723m
-- Phase 3 of the metallurgical test-work programme continues and is scheduled to be completed early next year
-- Drilling operations will take a break over the Christmas and New Year holiday for maintenance and crew holidays
*Twin of 18GRARC105 for metallurgical purposes
**Twin of 18GRARC63 for metallurgical purposes
Savannah Resources plc (AIM: SAV, FWB: AFM and SWB: SAV) ('Savannah' or the 'Company'), the resource development company, is pleased to announce further results from the ongoing reverse circulation and diamond drilling programme at the Mina do Barroso Lithium Project, located in northern Portugal (Figure 1). To view the press release with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6029K_1-2018-12-16.pdf
Savannah's CEO, David Archer said: "The ongoing drilling programme at Mina do Barroso continues to define excellent widths and grades of lithium mineralisation at both the Grandao and Pinheiro deposits. Thanks to much of the resource definition work and geotechnical drilling to support the definitive feasibility study being largely complete, we anticipate a slower drilling tempo at the C-100 Mining Lease in 2019.
"Over the past months we have had three drill rigs on site and we will be looking to work with the RC rig and only one diamond rig next year. In 2019, we plan for the RC rig to initially drill test the Aldeia ground whereas the diamond rig will focus on obtaining material for the ongoing metallurgical test-work programme as well as some geotechnical drilling.
"The year 2018 has been exceptional for the metres drilled and the resource defined in such a quick time and we look forward to continuing excellent progress for the Project next year."
Further Information
A total of 295 holes for 24,723m have been drilled to date at Mina do Barroso as part of the ongoing RC and diamond drill programme primarily focused on the Grandao, Reservatorio and NOA deposits.
The results from the recent RC and diamond drilling at Grandao and Pinheiro have now been received with diamond drilling ongoing at Grandao with a series of diamond tails being completed on some original RC drill holes and geotechnical drilling now well advanced at both Reservatorio and Grandao.
Figure 1. Mina do Barroso Project Summary Map showing Prospects and Drilling Completed
Grandao Diamond Drilling
Diamond drilling continued at Grandao with the aim of completing geotechnical testing, infill drilling of deep sections of the mineralisation and the gathering of samples for metallurgical testing. The geotechnical drilling was aimed at gathering structural data and collecting samples to get an understanding of the mechanical properties of the rock that will make up the wall of the proposed stage 1 pit; the results are currently with Knight Piesold for detailed evaluation.
The infill drilling was carried out to target the continuity of the west dipping pegmatite ore body at depth to get a better understanding of the continuity of mineralisation for future mine planning. The results have been very encouraging with 22.9m @ 1.05% Li2O from 84m in 18GRADD010, 29.55m @ 1.67% Li(2) O from 95.45m in 18GRADD011, and 20.7m @ 1.21% Li(2) O from 41.5m in 18GRADD017. The results have demonstrated that the mineralisation has very good continuity to the west, showing some significant increase in grade at depth.
Metallurgical testing as part of a feasibility programme has meant that considerable quantities of fresh pegmatite material are required to get a good understanding of the mineralisation properties for further processing. This has resulted in the need to produce high quality un-weathered sample from diamond drill core. A programme of diamond drilling to produce this sample was initiated, which often required the twining of holes with known Li O content to expedite the sampling procedure. These samples have been sent to Nagrom in Perth and are currently being used for testing.
Grandao RC drilling
The focus of the RC drilling at Grandao has been to intercept the pegmatite within the areas of the mineralised body that will be mined to get a better understanding of the continuity of lithium mineralisation. The RC rig has also been used to assist in drilling deeper targets that will be completed with the diamond drill rig, which helps to reduce costs and time in getting to the deeper target zone. The results from the infill drilling have been encouraging with results up to 28m @ 1.17% Li O from 15m in 18GRARC118, 27m @ 1.41% Li O from 36m in 18GRARC120.
Table 1. Summary of diamond drill results for Grandao using a 0.5% Li(2) O cut-off
Hot Features
Premium
rL From Down
Hole ID Prospect Easting Northing Azimuth Dip EOH (m) To (m) hole Grade
Interval
(Deg) (Deg) (m) (m) % Li2O
18GRADD008 Grandao 601992 4608025 592 231 -65 100.30 35.25 52.75 17.50 1.13
18GRADD009 Grandao 601612 4607986 502 70 -65 111.15 45.20 53.50 8.30 1.12
------- ------- --------- -------
55.90 60.00 4.10 0.98
------- ------- --------- -------
82.00 88.10 6.10 0.85
--------------- ---------- -------- --------- ---- -------- ------ ------- ------- ------- --------- -------
18GRADD010 Grandao 601743 4607748 566 90 -65 157.80 84.10 107.00 22.90 1.05
---------- -------- --------- ---- -------- ------ ------- ------- ------- --------- -------
18GRADD011 Grandao 601530 4608002 505 80 -65 179.30 95.45 125.00 29.55 1.67
---------- -------- --------- ---- -------- ------ ------- ------- ------- --------- -------
18GRADD012 Grandao 601747 4607746 566 270 -70 183.15 43.00 48.70 5.70 1.13
------- ------- --------- -------
57.80 62.00 4.20 1.37
------- ------- --------- -------
110.80 115.00 4.20 0.90
------- ------- --------- -------
157.20 165.15 7.95 1.36
--------------- ---------- -------- --------- ---- -------- ------ ------- ------- ------- --------- -------
18GRADD014* Grandao 601695 4608035 526 311 -65 119.20 65.00 118.60 53.60 1.34
---------- -------- --------- ---- -------- ------ ------- ------- ------- --------- -------
18GRADD016 Grandao 601760 4608019 547 0 -90 63.40 3.70 40.00 36.30 0.94
------- ------- --------- -------
50.90 55.25 4.35 1.30
---------- -------- --------- ---- -------- ------ ------- ------- --------- -------
18GRADD017** Grandao 601669 4607898 528 90 -65 100.10 41.50 62.20 20.70 1.21
---------- -------- --------- ---- -------- ------ ------- ------- ------- --------- -------
* twin of 18GRARC105 for metallurgical
purposes
** twin of 18GRARC63 for metallurgical
purposes
Table 2. Summary of RC drill results for Grandao using a 0.5% Li(2) O cut-off
rL From To Down
Hole ID Prospect Easting Northing Azimuth Dip EOH (m) (m) hole Grade
Interval
(Deg) (Deg) (m) (m) % Li2O
18GRARC117 Grandao 601785.45 4607933.73 533.78 105 -60 116.00 4.00 10.00 6.00 0.89
32.00 36.00 4.00 0.60
----------------------- ---------- ----------- ------- -------- ------ ------- ------ ------ --------- -------
18GRARC118 Grandao 601736.91 4607928.68 517.46 115 -60 63.00 15.00 43.00 28.00 1.17
---------- ---------- ----------- ------- -------- ------ ------- ------ ------ --------- -------
18GRARC119 Grandao 601733.59 4607930.58 517.83 295 -65 80.00 18.00 28.00 10.00 1.25
------- ------ ------ --------- -------
39.00 57.00 18.00 1.47
----------------------- ---------- ----------- ------- -------- ------ ------- ------ ------ --------- -------
18GRARC120 Grandao 601733.80 4607987.78 532.95 119 -75 249.50 36.00 63.00 27.00 1.41
----------
No Significant
18GRARC121 Grandao 601581 4608181.00 539.00 0 -90 139.70 Assays
----------
No Significant
18GRARC122 Grandao 601543 4607865.00 534.00 270 -72 200.30 Assays
---------- ----------- ------- -------- ------ ------- ------------------------- -------
18GRARC123 Grandao 601768 4607861 519 100 -60 75.00 8.00 18.00 10.00 1.00
------ ------ --------- -------
32.00 40.00 8.00 1.31
------ ------ --------- -------
46.00 58.00 12.00 1.20
----------------------- ---------- ----------- ------- -------- ------ ------- ------ ------ --------- -------
18GRARC124 Grandao 601715 4607845 530 103 -70 188.00 45.00 49.00 4.00 0.65
---------- ---------- ----------- ------- -------- ------ ------- ------ ------ --------- -------
58.00 63.00 5.00 1.13
----------------------- ---------- ----------- ------- -------- ------ ------- ------ ------ --------- -------
Figure 2. Summary of drilling at Grandao showing significant assay results
Pinheiro RC Drilling
The awaited results from the remaining four drill holes for Pinheiro have now been received (Table 3 and Figure 3).
The results of the first phase of exploratory drilling at Pinheiro outline a significant zone of lithium bearing pegmatite. The drilling was aimed at getting an understanding of the geometry of the pegmatite to determine the continuity of the mineralisation at depth. Significant results from the outstanding four drill holes include 9m @ 1.05% Li O from 39m in 18PNRRC012 and 27m @ 0.91% Li O from 57m in 18PNRRC014. Drilling also located another
unknown pegmatite further to the east and further work is needed to determine its extent.
Table 3. Summary of drill results for Pinheiro using a 0.5% Li(2) O cut-off
rL From To Down
Hole ID Prospect Easting Northing Azimuth Dip EOH (m) (m) hole Grade
Interval
(Deg) (Deg) (m) (m) % Li2O
18PNRRC012 Pinheiro 601575 4606855 585 270 -60 132.00 39.00 48.00 9.00 1.05
18PNRRC013 Pinheiro Hole abandoned due to technical
problems
---------- -------------------------------------------------- ------- ------ ------ --------- -------
18PNRRC014 Pinheiro 601578 4606857 585 0 -90 123.00 57.00 84.00 27.00 0.91
---------- ---------- -----------
18PNRRC015 Pinheiro 601675.83 4606842.85 3.387 274 -60 93 No Significant Assays
---------- ---------- -----------
18PNRRC016 Pinheiro 601677.00 4606842.00 603.00 274 -80 132.00 91.00 99.00 8.00 0.85
---------- ---------- -----------
18PNRRC017 Pinheiro 601530.76 4606855.06 579.97 270 -60 165 No Significant Assays
---------- ---------- -----------
Figure 3. Summary of drilling at Pinheiro showing significant assay results
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 / Dugald J. Northland Capital Tel: +44 20 3861 6625
Carlean (Nominated Adviser) Partners Ltd
Christopher Raggett / Camille finnCap Ltd Tel: +44 20 7220 0500
Gochez (Broker)
Grant Barker (Equity Adviser) Whitman Howard Tel: +44 020 7659
1225
Lottie Wadham / Cosima Akerman St Brides Partners Tel: +44 20 7236 1177
(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: AFM, 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, * RC samples were collected at 1m intervals in large
random chips, or specific specialised industry plastic bags from an on-board rig splitter and a
standard measurement tools appropriate to the 4-6kg representative sample taken for analysis.
minerals under investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad * Diamond holes were completed at PQ or HQ size,
meaning of sampling. sampled at nominal 1m intervals in the pegmatite,
with boundaries sampled to geological boundaries.
Half core samples were collected for analysis.
------------------------------------------------------------ -----------------------------------------------------------------------
* 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 the 75% owned Mina do
and land including agreements or material issues with third Barroso project C-100
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 15m-120m. 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 Reservatorio appears to
* If it is not known and only the down hole lengths are dip at around 40degrees to the north west and at
reported, there should be a clear statement to this Grandao dips shallowly to the west to south west
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 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.
--------------------------------------------------------------- ------------------------------------------------------------------
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END
DRLGGGPPPUPRGRQ
(END) Dow Jones Newswires
December 17, 2018 02:00 ET (07:00 GMT)
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