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DGAP-Media / 2018-11-09 / 13:37 *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% Li2O from 9m in 18PNRRC003 · 14m at 1.21% Li2O from 18m in 18PNRRC004 · 90m at 1.23% Li2O from 39m incl. 34m at 1.6% Li2O from 94m in 18PNRRC005* · 69m at 1.29% Li2O from 20m incl. 24m at 1.58% Li2O from 48m in 18PNRRC007* · 35m at 1.19% Li2O from 16m incl. 21mm at 1.45% Li2O 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: · 23m at 1.29% Li2O from 24m in 18RESRC023 · 27m at 1.03% Li2O from 24m in 18RESRC026 · 24m at 1.00% Li2O from 26m in 18RESRC029 · 42m at 1.21% Li2O from 51m in 18RESRC033 · 27m at 1.08% Li2O from 58m in 18RESRC037 · NOA deposit: · 19m at 0.97% Li2O from 99m in 18NOARC012 · 21m at 0.92% Li2O 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). * *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." 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  For further information please visit www.savannahresources.com  or contact: David Archer Savannah Resources Tel: +44 20 7117 plc 2489 David Hignell / Dugald Northland Capital Tel: +44 20 3861 J. Carlean (Nominated Partners Ltd 6625 Adviser) Christopher Raggett / finnCap Ltd Tel: +44 20 7220 Camille Gochez (Broker) 0500 Grant Barker (Equity Whitman Howard Tel: +44 020 Adviser) 7659 1225 Charlotte Page / Lottie St Brides Partners Tel: +44 20 7236 Wadham (Financial PR) Ltd 1177 *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 our staff and the communities we work with. 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". End of Media Release Issuer: Savannah Resources PLC Key word(s): Enterprise 2018-11-09 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de 743833 2018-11-09 1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=7989157356d1c934fc29d5383e7b932b&application_id=743833&site_id=vwd&application_name=news 2: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=8fc7c21be232c3d683d55d027ddc4129&application_id=743833&site_id=vwd&application_name=news
(END) Dow Jones Newswires
November 09, 2018 07:38 ET (12:38 GMT)