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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.15 | 4.41% | 3.55 | 3.40 | 3.60 | 3.50 | 3.50 | 3.50 | 521,543 | 16:35:25 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 0 | -2.86M | -0.0016 | -21.88 | 63.99M |
TIDMSAV
RNS Number : 6998U
Savannah Resources PLC
16 July 2018
16 July 2018
Savannah Resources Plc
Grandao Continues to Grow - More Robust Lithium Intersections from the
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 further encouraging results from the ongoing reverse circulation ('RC') and diamond drill ('DD') programme at the Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project'), located in Portugal (Figure 1). A total of 181 holes for 15,345m have now been drilled to date across three primary targets of Grandao, Reservatorio and NOA. To view the press release with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6998U_1-2018-7-15.pdf
HIGHLIGHTS:
-- Ongoing RC and DD at both the Grandao and Reservatorio Deposits has intersected lithium mineralisation over significant widths
-- Drilling continues to expand the boundaries of the known mineralised pegmatites demonstrating the Project's potential for further increases in the existing 14Mt at 1.1% Li O Mineral Resource Estimate
-- Key results include:
Grandao and Grandao Extended
- 25m at 1.56% Li(2) O from 56m in 18GRARC52 diamond tail - 22m at 1.41% Li(2) O from 54m in 18GRARC51 diamond tail - 15m at 1.32% Li(2) O from 96m in 18GRARC79 - 25m at 1.05% Li(2) O from 13m in 18GRARC93 - 25m at 1.02% Li(2) O from 21m in 18GRARC99 - 49m at 1.09% Li(2) O from 35m in 18GRARC100 - 20m at 1.42% Li(2) O from 125m in 18GRARC103 - 22m at 1.05% Li(2) O from 19m in 18GRADD01 - 23.7m at 0.99% Li(2) O from 17.2m in 18GRADD02 - 48.9m at 1.33% Li(2) O from 6.9m and 21m at 1.22% Li(2) O from 129m in 18GRADD006
Reservatorio
- 32m at 1.18% Li(2) O from 36m in 18RESDD02
- Diamond drilling was completed primarily to obtain lithium bearing pegmatite for the metallurgical test work programme
-- Phase 3 of the metallurgical test work programme continues to progress well
-- A second diamond drill rig is due to arrive on site shortly to commence geotechnical drilling to support the fast-tracked Feasibility Study
-- Detailed discussions continue with potential Feasibility Study specialists
Savannah's CEO, David Archer said: "The drill programme continues to deliver encouraging results, which will go towards further increasing what is already the largest spodumene lithium Mineral Resource Estimate in Western Europe. We are upping the drilling tempo with the addition of a third rig and drilling, which commenced a little under one year ago, now totals over 15km in length and constitutes one of the most intensive drill programmes undertaken in Portugal in recent years.
"In offsite activities, we have narrowed the field of parties interested in undertaking a Feasibility Study of a mine development at Mina do Barroso. We are intent on teaming with a group with best-in-class lithium experience and capabilities to ensure we maximise the significant value potential of our Project."
Figure 1. Mina do Barroso Project summary map showing the location of deposits and drilling completed - see PDF
Grandao and Grandao Extended
A total of 113 drill holes for 9,812m (17GRARC01-113) have been completed and results for drill holes 18GRARC79-103, 18GRADD001-006, and diamond tails on 18GRARC051-052 have now been received and returned further encouraging results (Tables 1 and Figure 2-5).
Drilling is continuing to target the confirmation of the Exploration Target(*) to the west and southwest of the main Grandao Deposit and has returned further encouraging zones of lithium mineralisation which are summarised below. The further encouraging results point towards the excellent potential to further expand the existing Mineral Resource Estimate.
*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.
Drilling to date at Grandao and Grandao Extended has now defined a virtually continuous zone of shallowly westerly dipping pegmatite from surface to a vertical depth of over 100m and covering a zone of approximately 600m long and up to 500m wide, confirming the excellent potential of the zone.
Table 1. Summary of drill results for Grandao flat lying pegmatite using a 0.5% Li(2) O cut-off
Hole rL From To Down ID Prospect Northing Easting Azimuth Dip EOH (m) (m) hole Grade % Interval Li(2) (Deg) (Deg) (m) (m) O ---------- ----------- ---------- -------- ------- ------- -------- ------- --------- ------ 18GRARC79 Grandao 4607883.24 601578.24 535.79 0 -90 146.00 96.00 111.00 15.00 1.32 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 122.00 126.00 4.00 1.05 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC80 Grandao 4607984.00 601508.00 502.00 0 -90 155.20 102.30 144.40 Pegmatite ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- ----------------- 18GRARC81 Grandao 4608007.00 601535.00 501.00 0 -90 173.30 13.00 17.00 4.00 0.92 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 114.00 120.00 6.00 0.72 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 120.00 164.20 Pegmatite ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- ----------------- 18GRARC82 Grandao 4607897.00 601978.00 569.00 0 -90 48.00 0.00 6.00 6.00 1.13 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC84 Grandao 4607748.00 601742.00 572.00 0 -90 150.00 61.00 67.00 6.00 1.46 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 87.00 95.00 8.00 1.38 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRADD01 Grandao 4608012.00 601885.00 573.00 0 -90 77.10 19.00 41.00 22.00 1.05 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 53.00 58.00 5.00 1.21 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRADD02 Grandao 4607985.00 601862.00 573.00 0 -90 64.70 17.20 40.90 23.70 0.99 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRADD03 Grandao 4607984.00 601819.00 586.00 0 -90 132.70 28.00 35.00 7.00 0.87 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 51.00 55.00 4.00 0.78 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 77.00 89.00 12.00 0.94 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 93.00 103.00 10.00 0.87 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRADD05 Grandao 4608007.00 601950.00 594.00 0 -90 67.60 24.40 29.00 4.60 1.28 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 33.00 42.00 9.00 1.15 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRADD06 Grandao 4607983.00 601784.00 581.00 0 -90 176.40 6.90 55.80 48.90 1.33 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------
69.00 90.00 21.00 0.97 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 98.00 103.00 5.00 0.72 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 109.00 116.00 7.00 0.79 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 120.00 126.00 6.00 0.98 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 129.00 150.00 21.00 1.22 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC52 Grandao 4607948.87 601634.42 520.83 0 -90 150.75 56.00 81.00 25.00 1.56 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 104.75 111.65 6.90 1.29 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC51 Grandao 4608025.27 601601.13 503.62 0 -90.00 144.90 54.00 76.00 22.00 1.41 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 91.25 95.00 3.75 1.02 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC86 Grandao 4607657.00 601864.00 579.00 0 -90.00 89.00 23.00 27.00 4.00 0.75 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC90 Grandao 4607862.00 601544.00 548.00 0 -90.00 138.00 110.00 118.00 8.00 1.44 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ Diamond tail 18GRARC91 Grandao 4607805.00 601412.00 525.00 0 -90.00 187.60 pending ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC92 Grandao 4607856.00 601770.00 523.00 53 -60.00 22.00 6.00 19.00 13.00 0.83 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC93 Grandao 4607963.00 601757.00 532.00 115 -60.00 120.00 13.00 38.00 25.00 1.05 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 95.00 104.00 9.00 1.24 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC94 Grandao 4608040.00 601514.00 525.00 0 -90.00 132.00 54.00 59.00 5.00 0.72 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC97 Grandao 4607715.00 601867.00 551.00 0 -90.00 65.00 25.00 31.00 6.00 0.64 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC98 Grandao 4607987.00 602010.00 574.00 0 -90.00 63.00 10.00 20.00 10.00 0.89 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC99 Grandao 4608066.00 601763.00 547.00 90 -60.00 110.00 21.00 46.00 25.00 1.02 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 53.00 59.00 6.00 1.16 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC100 Grandao 4608054.00 601741.00 537.00 90 -60.00 84.00 11.00 27.00 16.00 1.06 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 35.00 84.00 49.00 1.09 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ inc 66.00 84.00 18.00 1.48 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC101 Grandao 4608002.00 601703.00 518.00 0 -90.00 100.00 55.00 78.00 23.00 0.89 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 18GRARC103 Grandao 4607850.00 601713.00 533.00 90 -64.00 159.00 45.00 53.00 8.00 1.07 ---------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 61.00 67.00 6.00 1.36 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ 125.00 145.00 20.00 1.42 ----------------------- ----------- ---------- ------- -------- ------- ------- -------- ------- --------- ------ Note: All holes highlighted in grey require diamond tails to reach the primary pegmatite target
Figure 2. Summary of drilling at Grandao showing significant assay results - see PDF
Figure 3. Grandao Cross Section 4,608,050North (see Figure 2 for location of cross section) - see PDF
Figure 4. Grandao Cross Section 4,608,000North (see Figure 2 for location of cross section) - see PDF
Figure 5. Grandao Cross Section 4,607,850North (see Figure 2 for location of cross section) - see PDF
Reservatorio
A total of four drill holes for 336.3m (18RESDD01-04) have been completed and results for all drill holes have now been received and returned further encouraging results (Tables 2 and Figure 6-7). The holes were primarily drilled to provide material for metallurgical test work, but the holes also doubled as infill holes to help increase the confidence level in the Reservatorio Mineral Resource Estimate from Inferred to Indicated.
Table 2. Summary of drill results for Reservatorio drilling using a 0.5% Li(2) Ocut-off
Hole rL From To Down ID Prospect Northing Easting Azimuth Dip EOH (m) (m) hole Grade % Interval Li(2) (Deg) (Deg) (m) (m) O -------------- ----------- ---------- -------- ------ ------ ------ ------ --------- ------ 18RESDD01 Reservatorio 4609175.12 599873.89 602.38 150 -60 68.00 18.00 36.00 18.00 0.75 -------------- ----------- ---------- ------- -------- ------ ------ ------ ------ --------- ------ 59.10 64.00 4.90 1.36 -------------------------- ----------- ---------- ------- -------- ------ ------ ------ ------ --------- ------ 18RESDD02 Reservatorio 4609188.43 599782.73 612.58 150 -60 91.20 36.00 68.00 32.00 1.18 -------------- ----------- ---------- ------- -------- ------ ------ ------ ------ --------- ------ 18RESDD03 Reservatorio 4609172.24 599704.71 610.45 150 -60 97.40 30.00 42.00 12.00 1.06 -------------- ----------- ---------- ------- -------- ------ ------ ------ ------ --------- ------ 45.00 60.00 15.00 0.97 -------------------------- ----------- ---------- ------- -------- ------ ------ ------ ------ --------- ------ 63.00 73.00 10.00 0.78
-------------------------- ----------- ---------- ------- -------- ------ ------ ------ ------ --------- ------ 18RESDD04 Reservatorio 4609027.92 599595.08 604.25 150 -60 79.70 49.00 57.00 8.00 1.05 -------------- ----------- ---------- ------- -------- ------ ------ ------ ------ --------- ------
Figure 6. Summary of drilling at Reservatorio showing significant assay results - see PDF
Figure 7. Reservatorio Oblique Cross Section (See Figure 8 for cross section location) - see PDF
Ongoing Drill Programme
Diamond drilling with the current drill rig is focusing on completing diamond tails on the RC holes which have failed to reach their target depths as they are beyond the reach of the RC drill rig.
An additional diamond drill rig is due to arrive on site shortly to help speed up development activities and will focus on the geotechnical drilling required for the detailed pit designs as part of the Feasibility Study.
Phase 3 Metallurgical Test Work
Progress with the Feasibility Study metallurgical test work is continuing to progress well, with work remaining on track to be completed on schedule in Q3 2018.
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.
The Information in this report that relates to Mineral Resources 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 plc Tel: +44 20 7117 2489 David Hignell / Dugald Northland Capital Partners Tel: +44 20 3861 J. Carlean (Nominated Adviser) Ltd 6625 Christopher Raggett / Camille finnCap Ltd Tel: +44 20 7220 Gochez (Broker) 0500 Grant Barker (Equity Adviser) Whitman Howard Tel: +44 020 7659 1225 Charlotte Page / Lottie St Brides Partners Ltd Tel: +44 20 7236 Wadham (Financial PR) 1177
About Savannah
We are 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. 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".
APPIX 1 - JORC 2012 Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary Sampling techniques * Nature and quality of sampling (e.g. cut channels, * Reverse circulation (HQ size) samples were taken on random chips, or specific specialised industry either 1 intervals for pegmatite or 4m composites in standard measurement tools appropriate to the surrounding schist. RC samples were collected in minerals under investigation, such as down hole gamma large plastic bags from an on-board rig splitter and sondes, or handheld XRF instruments, etc). These a 4-6kg representative sample taken for analysis. examples should not be taken as limiting the broad meaning of sampling. ------------------------------------------------------------ ----------------------------------------------------------------------- * Include reference to measures taken to ensure sample * Drilling was conducted on a nominal 80m by 40m representivity and the appropriate calibration of any spacing based on geological targets using RC drilling measurement tools or systems used. technology, an industry standard drilling technique. Drilling rods are 3m long and 1 sample is taken for each rod interval. * Collar surveys are carried using hand held GPS with an accuracy to within 5m, and the z direction was determined by satellite derived elevation data and is accurate to less than a metre. * A downhole survey for each hole was completed ------------------------------------------------------------ ----------------------------------------------------------------------- * Aspects of the determination of mineralisation that * The lithium mineralization is predominantly in the are Material to the Public Report. form of Spodumene-bearing pegmatites, the pegmatites are unzoned and vary in thickness from 15m-39m. * 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-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 the drill * See table 1 and 2 in the main release for hole hole collar co-ordinates 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 * Intercepts are weighted averages using a 0.5% Li O methods techniques, maximum and/or minimum grade truncations cut off with no more than 2m of internal dilution (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. * Narrow zones of schist (less than 5m) have been included in the significant intercepts where they are * Where aggregate intercepts incorporate short lengths mineralised 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 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 it is sub horizontal 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) Dow Jones Newswires
July 16, 2018 02:00 ET (06:00 GMT)
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