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Savannah Resources identifies extended mineralisation at Mina do Barroso project

The AIM-listed miner said reverse circulation and diamond drilling at the Grandao and Grandao Extended Deposits had identified “significant expansions" to pegmatite bodies

Lithium element
The group added that a second diamond drill rig was now on site to support a fast-tracked feasibility study

Savannah Resources Plc (LON:SAV) has reported “encouraging” results from its ongoing reverse circulation (RC) and diamond drill (DD) programme at the Mina do Barroso project in Portugal.

The AIM-listed miner said RC and DD at the Grandao and Grandao Extended Deposits (GED) had identified “significant expansions to the mineralised pegmatite bodies”, with the expansion at GED supporting further increases to the existing resource estimate of 14 Mt at 1.1% Lithium Oxide.

READ: Savannah appoints consulting engineer Primero Group to undertake Mino do Barroso feasibility study

The group added that a second diamond drill rig was now on site to support a fast-tracked feasibility study currently being undertaken by Perth-based Lithium specialists Primero Group.

David Archer, Savannah’s chief executive, said: "The drill programme continues to produce outstanding results both in terms of widths and lithium grades. Zones in the main Grandao Deposit are thickening and drilling is also extending the deposit down dip, giving us the confidence of the potential to increase the Project's Mineral Resource Estimate.”

Quick facts: Savannah Resources PLC

Price: 2.35 GBX

AIM:SAV
Market: AIM
Market Cap: £30.49 m
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Savannah Resources’ Grandao lithium deposit ‘continues to grow’

David Archer, chief executive of Savannah Resources Plc (LON:SAV), tells Proactive Investors they're seeing continued encouraging results from their ongoing reverse circulation and diamond drill programme at the Mina do Barroso project in Portugal. He says they've identified 'significant...

on 26/7/18

2 min read