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Savannah Resources awarded lithium permits in Finland

Savannah has been granted permits over both locations until until 11 May 2018.

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New permits are in Finland

 

Savannah Resources Plc (LON:SAV) has been granted Reservation Permit Applications over two new lithium projects, Somero and Eräjärvi in Finland.

The mining junior announced the licence applications earlier this month.

Savannah has been granted permits over both locations until until 11 May 2018.

An exploration programme is currently being finalised including data compilation, geological mapping and surface sampling with the aim of generating targets during 2016

David Archer, Savannah's Chief Executive Officer said: "We are delighted with the award of these areas, which cover a series of documented, outcropping, lithium-bearing pegmatites in one of the world's prime resources jurisdictions, close to globally significant consumers of lithium based products.  

“With a revolution underway in how we generate and use energy, the demand for materials such as lithium, which is a key component in new energy storage solutions, is rising at record rates. “

Global lithium demand was 184,000t in 2015 and demand is expected to increase to 534,000t by 2025.  

Quick facts: Savannah Resources PLC

Price: 2.15 GBX

AIM:SAV
Market: AIM
Market Cap: £27.9 m
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