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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 | 2,766,011 | 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 : 5474G
Savannah Resources PLC
07 November 2018
7 November 2018
Savannah Resources Plc
Three New Lithium Pegmatites Discovered at the Pinheiro Deposit
Mina do Barroso Lithium Project, Portugal
HIGHLIGHTS:
-- Reverse circulation ('RC') drilling at the Pinheiro Deposit has returned a series of significant lithium intersections in three newly discovered pegmatites over considerable strike (>250m) and depths (>100m) highlighting the area's potential to host further deposits.
-- Significant potential to further increase the current Mineral Resource Estimate of over 20Mt (over 200,000t contained Li2O) which has already been increased +500% since acquisition last year
-- Key lithium intersections at Pinheiro include: - 23m at 1.14% Li O from 9m in 18PNRRC003 - 14m at 1.21% Li O from 18m in 18PNRRC004 - 90m at 1.23% Li O from 39m incl. 34m at 1.6% Li O from 94m in 18PNRRC005* - 69m at 1.29% Li O from 20m incl. 24m at 1.58% Li O from 48m in 18PNRRC007* - 35m at 1.19% Li O from 16m incl. 21mm at 1.45% Li O from 19m in 18PNRRC009
-- This new discovery is likely to positively impact the current Feasibility Study and further work at Pinheiro will now be fast tracked so that it can be included.
-- Infill RC at both Reservatorio and NOA deposits confirms the continuity and grade of the mineral resource estimate reported in February 2018.
-- Reservatorio deposit:
o 23m at 1.29% Li O from 24m in 18RESRC023
o 27m at 1.03% Li O from 24m in 18RESRC026
o 24m at 1.00% Li O from 26m in 18RESRC029
o 42m at 1.21% Li O from 51m in 18RESRC033
o 27m at 1.08% Li O from 58m in 18RESRC037
-- NOA deposit:
o 19m at 0.97% Li O from 99m in 18NOARC012
o 21m at 0.92% Li O from 57m in 18NOARC013
-- Drilling has expanded both the Reservatorio and NOA deposits with lithium mineralisation confirmed over strike lengths of 500m and 400m respectively and both deposits remain open and further drilling will be planned.
-- Drilling at the project now totals 275 holes for 23,072m including both RC and Diamond holes.
-- Phase 3 of the metallurgical test work programme is ongoing and scheduled to be completed in Q4 2018.
* Intersections are partly down dip
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 ('RC') drilling programmes for the Reservatorio, NOA and Pinherio deposits at the Mina do Barroso Lithium Project ('the MdB 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/5474G_1-2018-11-6.pdf
Savannah's CEO, David Archer said: "The ongoing drilling at the MdB Project continues to deliver excellent results both in terms of grades and widths. The drilling has outlined what is now the fourth major deposit on the mining lease and highlights the still unconstrained nature of the resource potential of the overall lease area. Having already increased our Mineral Resource Estimate by +500% in a little over a year we are excited by the discovery of three new pegmatites at the Pinherio deposit which could further enhance the scheduling flexibility of a mine development and add to the overall mine life at Mina do Barroso."
Further Information
A total of 275 holes for 23,072m 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 drilling at Reservatorio and NOA 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
Pinheiro Deposit
The extensive outcropping pegmatite identified from geological mapping at the Pinheiro deposit has been tested with seventeen (17) RC holes with initial the results confirming the presence of several broad pegmatite zones all of which have returned Lithium values greater than 1% Li(2) O over significant widths (Table 1, Figures 2-4).
The pegmatites at Pinheiro are interpreted to form at least three steeply dipping zones, which strike approximately north-south and have been defined over a strike extent of 250m. The zones are interpreted to have a true thickness of 10m-30m and remain open along strike and down dip.
Table 1. Summary of drill results for Pinheiro using a 0.5% Li(2) O cut-off
Hot Features
Premium
rL From To Down
Hole ID Prospect Northing Easting Azimuth Dip EOH (m) (m) hole Grade
-------
Interval % Li(2)
(Deg) (Deg) (m) (m) O
---------- ----------- ---------- ------- -------- ------ ------- ------ ------- --------- --------
18PNRRC001 Pinheiro 4607038.79 601642.39 584.54 160 -60 99.00 47.00 55.00 8.00 1.22
18PNRRC002 Pinheiro 4607017.41 601599.31 584.21 170 -60 75.00 9.00 15.00 6.00 0.93
18PNRRC003 Pinheiro 4607007.01 601562.98 579.29 95 -58 72.00 9.00 32.00 23.00 1.14
-------- ------ ------ ------- --------
18PNRRC004 Pinheiro 4606981.67 601546.02 564.56 105 -60 70.00 18.00 32.00 14.00 1.21
-------- ------ ------ ------- --------
18PNRRC005 Pinheiro 4606853.82 601530.03 579.94 90 -60 129.00 39.00 129.00 90.00 1.23
-------- ------ ------ ------- --------
18PNRRC006 Pinheiro 4606853.73 601526.59 580.00 60 -75 90.00 NSA
------------------------------------
18PNRRC007 Pinheiro 4606894.92 601535.42 566.81 95 -60 90.00 20.00 89.00 69.00 1.19
------ ------- --------
18PNRRC008 Pinheiro 4606841.84 601373.41 547.15 90 -60 132.00 57.00 108.00 51.00 0.62
-------- ------ ------ ------- --------
18PNRRC009 Pinheiro 4606893.78 601368.48 542.95 90 -60 87.00 16.00 51.00 35.00 1.19
-------- ------ ------ ------- --------
18PNRRC010 Pinheiro 4606813.32 601389.35 541.32 85 -85 66.00 NSA
-------- ------ ------------------------------------
18PNRRC011 Pinheiro 4606855.46 601576.71 585.20 270 -74 129.00 27.00 31.00 4.00 0.57
-------- ------ ------ ------- --------
45.00 62.00 17.00 0.87
-------- ------ ------ ------- --------
18PNRRC012 Pinheiro 4606855.41 601574.47 585.09 270 -60 132.00 Assays Pending
-------- ------ ------ ----------------------------
18PNRRC013** Pinheiro 4606860.00 601572.00 580.00 0 -90 12.00 Assays Pending
-------- ------ ------ ----------------------------
18PNRRC014 Pinheiro 4606857.09 601578.36 585.12 0 -90 123.00 Assays Pending
-------- ------ ------ ----------------------------
18PNRRC015 Pinheiro 4606842.84 601675.81 603.39 274 -60 93.00 Assays Pending
-------- ------ ------ ----------------------------
18PNRRC016 Pinheiro 4606842.73 601676.64 603.27 276 -80 132.00 Assays Pending
----------- ---------- ------- -------- ------ ------- ------ ----------------------------
18PNRRC017 Pinheiro 4606855.05 601530.74 579.97 270 -60 165.00 Assays Pending
----------- ---------- ------- -------- ------ ------- ------ ----------------------------
**Hole stop due to technical
issues
Figure 2. Summary of drilling at Pinheiro showing significant assay results
Figure 3. Pinheiro Oblique Cross Section (see Figure 2 for location of cross section)
Figure 4. Pinheiro Oblique Cross Section (see Figure 2 for location of cross section)
Reservatorio Deposit
A total of 43 RC and diamond drill holes for 3,830m have been completed and results for drill holes 18RESRC021 to 18RESRC037 have now been received and returned further encouraging results (Table 2 and Figure 5-6).
The seventeen RC holes completed at Reservatorio confirms the consistent, thick geometry of mineralised pegmatite with grades of over 1.0% Li(2) O. A 20-30m thick zone of pegmatite has now been identified along a strike of 500m to a depth of 100m below surface with the mineralisation remaining open down dip and along strike. Further drilling will be scheduled to continue to test and expand the Reservatorio Deposit.
Table 2. Summary of drill results for Reservatorio 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
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC021 Reservatorio 4609178 599928 594 150 -60 69 5.00 7.00 2.00 1.02
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
55.00 57.00 2.00 0.61
--------------------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC022 Reservatorio 4609202 599915 597 150 -60 51 19.00 34.00 15.00 0.90
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC023 Reservatorio 4609195 599867 606 150 -60 108 24.00 47.00 23.00 1.29
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
72.00 76.00 4.00 1.17
--------------------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC024 Reservatorio 4609162 599884 598 150 -60 60 8.00 28.00 20.00 0.86
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC025 Reservatorio 4609147 599853 596 150 -60 45 NSA
-------------- --------- -------- ---- -------- ------ ---- ------------------------------------
18RESRC026 Reservatorio 4609168 599803 611 150 -60 75 24.00 51.00 27.00 1.03
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC027 Reservatorio 4609121 599737 597 150 -60 48 NSA
-------------- --------- -------- ---- -------- ------ ---- ------------------------------------
18RESRC028 Reservatorio 4609124 599765 601 150 -60 51 NSA
-------------- --------- -------- ---- -------- ------ ---- ------------------------------------
18RESRC029 Reservatorio 4609144 599723 603 150 -60 69 26.00 50.00 24.00 1.00
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC030 Reservatorio 4609148 599608 615 150 -80 110 54.00 79.00 25.00 0.90
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
86.00 102.00 16.00 1.13
------- --------- --------
18RESRC031 Reservatorio 4609145 599610 615 150 -60 75 67.00 75.00 8.00 0.88
------ ------- --------- --------
18RESRC032 Reservatorio 4609202 599692 615 0 -90 120 56.00 99.00 43.00 0.74
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC033 Reservatorio 4609202 599692 615 150 -60 110 51.00 93.00 42.00 1.21
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC034 Reservatorio 4609148 599607 613 150 -70 120 71.00 102.00 31.00 0.98
18RESRC035 Reservatorio 4609079 599610 600 150 -60 69 46.00 52.00 6.00 0.65
18RESRC036 Reservatorio 4609187 599949 533 150 -60 75 1.00 15.00 14.00 1.38
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
38.00 48.00 10.00 0.84
--------------------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
18RESRC037 Reservatorio 4609225 599754 616 150 -60 96 58.00 85.00 27.00 1.08
-------------- --------- -------- ---- -------- ------ ---- ------ ------- --------- --------
Figure 5. Summary of drilling at Reservatorio showing significant assay results
Figure 6. Reservatorio Oblique Cross Section (see Figure 5 for location of cross section)
NOA Deposit
A total of 25 RC holes for 1,510m have been completed and results for drill holes 18NOARC011 to 18NOARC025 have now been received and returned encouraging first pass results (Table 3 and Figure 7-8).
The results from recent NOA drilling confirm the continuity of the mineralisation and have now defined near surface mineralisation along a strike of over 400m with the mineralisation remaining open to the northeast and down dip. Further drilling is required to determine the full extent of the mineralised pegmatite.
Table 3. Summary of drill results for NOA 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
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC011 NOA 4609405 599286 700 202 -60 80 NSA
---------- --------- -------- ---- -------- ------ ---- -----------------------------------
18NOARC012 NOA 4609410 599245 690 202 -60 69 0.00 6.00 6.00 1.36
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
30.00 49.00 19.00 0.97
----------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC013 NOA 4609429 599259 688 202 -75 75 3.00 24.00 21.00 0.92
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
54.00 58.00 4.00 1.00
----------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC014 NOA 4609422 599206 699 202 -60 45 2.00 8.00 6.00 0.94
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
24.00 28.00 4.00 1.49
----------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC015 NOA 4609442 599215 690 202 -60 55 15.00 19.00 4.00 0.89
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
37.00 41.00 4.00 1.43
----------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC016 NOA 4609452 599188 679 202 -60 60 25.00 34.00 9.00 1.24
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC017 NOA 4609469 599138 689 202 -60 60 27.00 35.00 8.00 1.39
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC018 NOA 4609486 599102 675 202 -60 66 5.00 9.00 4.00 0.99
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
34.00 38.00 4.00 0.69
----------------------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC019 NOA 4609478 599058 686 202 -60 46 19.00 24.00 5.00 1.19
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC020 NOA 4609528 599034 696 202 -60 30 NSA
---------- --------- -------- ---- -------- ------ ---- -----------------------------------
18NOARC021 NOA 4609540 599037 700 202 -60 40 NSA
---------- --------- -------- ---- -------- ------ ---- -----------------------------------
18NOARC022 NOA 4609550 598957 691 202 -60 26 5.00 10.00 5.00 1.27
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC023 NOA 4609574 598969 685 202 -60 40 11.00 19.00 8.00 1.15
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
18NOARC024 NOA 4609566 598919 677 202 -60 20 NSA
---------- --------- -------- ---- -------- ------ ---- -----------------------------------
18NOARC025 NOA 4609582 598916 692 202 -60 30 6.00 14.00 8.00 1.37
---------- --------- -------- ---- -------- ------ ---- ------ ------ --------- --------
Figure 7. Summary of drilling at NOA showing significant assay results
Figure 8. NOA Oblique Cross Section (see Figure 7 for location of cross section)
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 / Gaby Jenner 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, * Reverse circulation (HQ size) samples were taken on
random chips, or specific specialised industry either 1m intervals for pegmatite or 4m composites in
standard measurement tools appropriate to the surrounding schist. RC samples were collected in
minerals under investigation, such as down hole gamma large plastic bags from an on-board rig splitter and
sondes, or handheld XRF instruments, etc). These a 4-6kg representative sample taken for analysis.
examples should not be taken as limiting the broad
meaning of sampling.
------------------------------------------------------------ -----------------------------------------------------------------------
* Include reference to measures taken to ensure sample * Drilling was conducted on a nominal 80m by 40m
representivity and the appropriate calibration of any spacing based on geological targets using RC drilling
measurement tools or systems used. technology, an industry standard drilling technique.
Drilling rods are 3m long and 1 sample is taken for
each rod interval.
* Collar surveys are carried using hand held GPS with
an accuracy to within 5m, and the z direction was
determined by satellite derived elevation data and is
accurate to less than a metre.
* A downhole survey for each hole was completed
------------------------------------------------------------ -----------------------------------------------------------------------
* Aspects of the determination of mineralisation that * The lithium mineralization is predominantly in the
are Material to the Public Report. form of Spodumene-bearing pegmatites, the pegmatites
are unzoned and vary in thickness.
* In cases where 'industry standard' work has been done
this would be relatively simple (e.g. 'reverse * Down hole sampling is carried out on either a 1 or 4m
circulation drilling was used to obtain 1 m samples interval from which 4-6kg of pulverized material (RC)
from which 3 kg was pulverised to produce a 30 g was pulverized to produce a 50g charge for assaying
charge for fire assay'). In other cases, more
explanation may be required, such as where there is
coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (e.g.
submarine nodules) may warrant disclosure of detailed
information.
------------------------------------------------------------ -----------------------------------------------------------------------
Drilling
techniques * Drill type (e.g. core, reverse circulation, open-hole * RC drilling at a diameter of 120mm is a form of
hammer, rotary air blast, auger, Bangka, sonic, etc) reverse circulation drilling requiring annular drill
and details (e.g. core diameter, triple or standard rods. Compressed air is pumped down the outer tube
tube, depth of diamond tails, face-sampling bit or and the sample is collected from the open face
other type, whether core is oriented and if so, by drilling bit and blown up the inner tube.
what method, etc).
------------------------------------------------------------ -----------------------------------------------------------------------
Drill sample
recovery * Method of recording and assessing core and chip * Field assessment of sample volume. A theoretical
sample recoveries and results assessed. dried sample mass was estimated to be within the
range of 18 kg to 24 Kg, 70% of samples are within
the expected range. Lower than average sample
recovery is recorded only for the very top of the
drill hole due to air and sample losses into the
surrounding soil
------------------------------------------------------------ -----------------------------------------------------------------------
* Measures taken to maximise sample recovery and ensure * RC drilling sample weights were monitored to ensure
representative nature of the samples. samples were maximized. Samples were carefully loaded
into a splitter and split in the same manner ensuring
that the sample split to be sent to the assay
laboratories were in the range of 4-6kg.
------------------------------------------------------------ -----------------------------------------------------------------------
* Whether a relationship exists between sample recovery * No obvious relationships
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
------------------------------------------------------------ -----------------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * RC holes were logged in the field at the time of
and geotechnically logged to a level of detail to sampling.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Each 1m sample interval was carefully homogenized and
assessed for lithology, colour, grainsize, structure
* Whether logging is qualitative or quantitative in and mineralization.
nature. Core (or costean, channel, etc) photography.
* A representative chip sample produced from RC
* The total length and percentage of the relevant drilling was washed and taken for each 1m sample and
intersections logged. stored in a chip tray which was photographed
------------------------------------------------------------ -----------------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * RC samples were split by the rotary splitter on the
and sample half or all core taken. drill rig and sampled dry
preparation
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
------------------------------------------------------------ -----------------------------------------------------------------------
* For all sample types, the nature, quality and * The sampling was conducted using industry standard
appropriateness of the sample preparation technique. techniques and were considered appropriate
------------------------------------------------------------ -----------------------------------------------------------------------
* Quality control procedures adopted for all * The 4m composites were collected using a spear with
sub-sampling stages to maximise representivity of the spear inserted into the bag at a high angle and
samples. pushed across the sample to maximise representivity
of the sample
------------------------------------------------------------ -----------------------------------------------------------------------
* Measures taken to ensure that the sampling is * Every effort was made to ensure that the samples were
representative of the in-situ material collected, representative and not bias in anyway
including for instance results for field
duplicate/second-half sampling.
------------------------------------------------------------ -----------------------------------------------------------------------
* Whether sample sizes are appropriate to the grain * All samples were taken once they went through the
size of the material being sampled. on-board splitter from the drill rig. Depending on
the rock types on average a 4-6kg sample was sent to
the lab for analysis and the remaining material
averaged 18-24kg and remains stored on site for any
further analysis required
------------------------------------------------------------ -----------------------------------------------------------------------
Quality
of assay * The nature, quality and appropriateness of the * Samples were received, sorted, labelled and dried
data and assaying and laboratory procedures used and whether
laboratory the technique is considered partial or total.
tests * Samples were crushed to 70% less than 2mm, riffle
split off 250g, pulverize split to better than 85%
passing 75 microns and 5g was split of for assaying
* The samples were analysed using ALS laboratories
ME-MS89L Super Trace method which combines a sodium
peroxide fusion with ICP-MS instrumentation utilizing
collision/reaction cell technologies to provide the
lowest detection limits available.
* A prepared sample (0.2g) is added to sodium peroxide
flux, mixed well and then fused in at 670degC. The
resulting melt is cooled and then dissolved in 30%
hydrochloric acid. This solution is then analysed by
Inductively Coupled Plasma - Mass Spectrometry and
the results are corrected for spectral inter-element
interferences.
* The final solution is then analysed by ICP-MS, with
results corrected for spectral inter-element
interferences.
------------------------------------------------------------ -----------------------------------------------------------------------
* Not used
* For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their
derivation, etc.
------------------------------------------------------------ -----------------------------------------------------------------------
* Nature of quality control procedures adopted (e.g. * Standards/blanks and duplicates we inserted on a 1:20
standards, blanks, duplicates, external laboratory ratio for both to samples taken
checks) and whether acceptable levels of accuracy
(i.e. lack of bias) and precision have been
established. * Duplicate sample regime is used to monitor sampling
methodology and homogeneity.
* A powder chip tray for the entire hole is completed
for both RC and RAB. A sub-sample is sieved from the
large RC bags at site into chip trays over the
pegmatite interval to assist in geological logging.
These are photographed and kept on the central
database
* Routine QA/QC controls for the method ME-MS89L
include Blanks, certified reference standards of
Lithium and duplicate samples. Samples are assayed
within runs or batches up to 40 samples. At the
fusion stage that quality control samples are
included together with the samples, so all samples
follow the same procedure until the end. Fused and
diluted samples are prepared for ICP-MS analysis. ICP
instrument is calibrated through appropriate
certified standards solutions and interference
corrections to achieve strict calibration fitting
parameters. Each 40 samples run is assayed with 2
blanks, 2 certified standards and one duplicate
samples and results are evaluated accordingly.
* A QA/QC review of all information indicated that all
assays were inside reasonable tolerance levels.
------------------------------------------------------------ -----------------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * All information was internally audited by company
and assaying either independent or alternative company personnel. personnel
------------------------------------------------------------ -----------------------------------------------------------------------
* The use of twinned holes. * Several historical holes we twinned for comparison
purposes with the modern drilling
------------------------------------------------------------ -----------------------------------------------------------------------
* Documentation of primary data, data entry procedures, * Savannah's experienced project geologists supervise
data verification, data storage (physical and all processes.
electronic) protocols.
* All field data is entered into a custom log sheet and
then into excel spreadsheets (supported by look-up
tables) at site and subsequently validated as it is
imported into the centralized Access database.
* Hard copies of logs, survey and sampling data are
stored in the local office and electronic data is
stored on the main server.
------------------------------------------------------------ -----------------------------------------------------------------------
* Discuss any adjustment to assay data. * Results were reported as Li(ppm) and were converted
to a percentage by dividing by 10,000 and then to
Li(2) O% by multiplying by 2.153
------------------------------------------------------------ -----------------------------------------------------------------------
Location
of data * Accuracy and quality of surveys used to locate drill * The coordinate of each drill hole was taken at the
points holes (collar and down-hole surveys), trenches, mine time of collecting using a handheld GPS with an
workings and other locations used in Mineral Resource accuracy of 5m.
estimation.
* The grid system used is WSG84
* Specification of the grid system used.
* Topographic accuracy was +/- 5m
* Quality and adequacy of topographic control.
------------------------------------------------------------ -----------------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Drilling was on a nominal 80m by 40m spacing and
distribution based on geological targets
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * Drill data is not currently at sufficient spacing to
grade continuity appropriate for the Mineral Resource define a mineral resource.
and Ore Reserve estimation procedure(s) and
classifications applied.
* Some samples were composited on a 4m basis based on
geological criteria, these areas were all outside the
* Whether sample compositing has been applied. pegmatite bodies where 1m sampling was completed
------------------------------------------------------------ -----------------------------------------------------------------------
Orientation
of data * Whether the orientation of sampling achieves unbiased * Drilling was orientated perpendicular to the known
in relation sampling of possible structures and the extent to strike of the pegmatites
to which this is known, considering the deposit type.
geological
structure * Drill holes we orientated at either -60 degrees or
* If the relationship between the drilling orientation -90 degrees depending on the dip of the pegmatite in
and the orientation of key mineralised structures is an attempt to get drill holes as close to true width
considered to have introduced a sampling bias, this as possible
should be assessed and reported if material.
------------------------------------------------------------ -----------------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * Samples were delivered to a courier and chain of
custody is managed by Savannah.
------------------------------------------------------------ -----------------------------------------------------------------------
Audits or * Internal company auditing
reviews * The results of any audits or reviews of sampling
techniques and data.
------------------------------------------------------------ -----------------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral
tenement * Type, reference name/number, location and ownership * All work was completed inside 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.
--------------------------------------------------------------- ------------------------------------------------------------------
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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