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*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 [1]
For further information please visit www.savannahresources.com [2] 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
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743833 2018-11-09
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(END) Dow Jones Newswires
November 09, 2018 07:38 ET (12:38 GMT)
