REG - Savannah Resources - Drill results confirm resource expansion potential
11/07/2024 07:00
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RNS Number : 9579V Savannah Resources PLC 11 July 2024
11 July 2024
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')
Further results from DFS Phase 1 drilling confirm resource expansion potential
Savannah Resources plc ('Savannah' or the 'Company'), the resource development
company, is pleased to announce further results from the first phase of the
current two stage DFS drilling programme at the Barroso Lithium Project ('the
Project') located in northern Portugal (Figure 1). The Project, currently with
a 28Mt @ 1.05% Li(2)O Mineral Resource, is Europe's most significant spodumene
lithium deposit.
Highlights:
· Savannah reports significant lithium assays which it has received
from a further 8 diamond drill holes (4 at Pinheiro, 3 at NOA, 1 at
Reservatório) undertaken for geotechnical, metallurgical, and resource
purposes as part of the Phase 1 DFS drill programme.
· At Pinheiro, where 2 pegmatite bodies (the Eastern and the Western),
have been previously identified, the results from metallurgical and resource
diamond drilling, have confirmed the tenure of lithium mineralisation from
Reverse Circulation ('RC') drilling (see 12 March RNS) and highlight the
potential for the expansion of the resource.
· Significant lithium mineralisation intersections at the Western
pegmatite at Pinheiro include:
o 36.5m @ 1.24% Li(2)O from 33.5m in 24PNRDD003
o 16.48m @ 1.22% Li(2)O from 41.02m in 24PNRDD004
o 14.08m @ 1.04% Li(2)O from 9.32m in 24PNRDD007
o 16.43m @ 1.57% Li(2)O from 18.57m and 11m @ 0.79% Li(2)O from 61m in
24PNRDD008 (vertical hole not true widths)
· The diamond holes at Pinheiro also show that mineralisation continues
to the north on the Western Pegmatite, outlining the greater resource
potential, to be tested in the second phase of drilling.
· At NOA two metallurgical holes that twinned previous RC drilling and
a geotechnical hole confirm the continuity of lithium mineralisation.
· Significant lithium mineralisation intersections at NOA include:
o 9.86m @ 1.3% Li(2)O from 49.14m in 24NOADD011 (twinned holes)
o 5.45m @ 1.25% Li(2)O from 0.35m in 24NOADD010 (twinned holes)
and 21m @ 1.26% Li(2)O from 31m
· At Reservatório a diamond hole drilled for geotechnical purposes
intersected 53.1m of pegmatite and aplite and shows that the Reservatório
pegmatite continues to be mineralised at depth.
· Significant lithium mineralised intersections at Reservatório
include:
o 7m @ 1.16% Li(2)O from 143m, 5.7m @ 0.81% Li(2)O from 172m and 6.5m @
1.22% Li(2)O from 180.5m in 24RESDD013
· Note that the geotechnical holes were designed to gain structural
information about the designed pit walls and the pegmatite intercepts were
incidental to that.
· Next steps: Once the remaining phase 1 assays have been received,
analysed and any further significant assays reported, planning for phase 2 of
the programme can then be completed.
Savannah's Technical Director, Dale Ferguson said, "Though the resource
drilling of our Phase 1 DFS campaign finished in February, we still have
assays coming back from some diamond drillholes which were completed towards
the end of the campaign, including from geotechnical and metallurgical holes.
The results we have announced today, which come from holes at Pinheiro, NOA
and Reservatório, all confirm the dual potential, highlighted by earlier
results, for these orebodies to contain areas of higher-grade mineralisation
than previously identified and to extend in multiple directions.
"In terms of next steps regarding the ongoing drilling campaign, any further
assays of note from Phase 1 will be reported once received and we shall
complete our planning of phase 2. Many other workstreams relating to the DFS
are also being progressed, supported by the recent financing received from our
new strategic partner, AMG Critical Materials N.V ('AMG'). We will provide
further details on these fronts in due course.
"The technical team and I are expecting another busy period during the second
half of year as we look to move forward with all our key deliverables and
begin to work more closely with AMG on technical matters, as well as the
highly experienced consultants we are using for the Project's DFS, remaining
environmental licencing work, and the associated access road."
Further Information
As previously announced, Savannah has completed the first of two phases of
drilling at the Barroso Lithium Project as part of the ongoing Definitive
Feasibility Study (DFS) (Figure 1). The programme consisted of drilling for
resource, metallurgical and geotechnical purposes using primarily RC with some
diamond drilling for the resource work and diamond drilling for the
metallurgical and geotechnical requirements. A total of 6154m was drilled
overall in phase one including water bore drilling. All the core from phase 1
has now been logged with the majority of assays now received from third party
laboratories. Significant assays, including those reported in this RNS, have
been announced. Any remaining significant assays will be announced once
received.
Figure 1. Barroso Lithium Project summary map showing deposits and drill hole
locations.
Pinheiro
At Pinheiro, two metallurgical diamond holes were drilled across the Western
Pegmatite in the vicinity of recent RC and water bore drilling that returned
extensive intercepts of lithium mineralisation (Figure 2) (see RNS 12 March
2024). The diamond drill holes were able to be drilled near perpendicular to
the dip of the pegmatite giving a good indication of the true width of
mineralisation in the Western Pegmatite and confirming the tenure outlined in
the previous drilling. Results of 36.5m at 1.24% Li(2)O from 33.5m in
24PNRDD003 and 16.48m at 1.22% Li(2)O from 41.02m in 24PNRDD004 have confirmed
the potential shown by previous RC drilling that the Western Pegmatite appears
to increase in width and grade at depth.
In addition, two further diamond holes were drilled for exploration purposes
at the known northern extent of the Western Pegmatite and continued to
intersect the pegmatite, proving its continuity towards the north. Hole
24PNRDD007, which was drilled across strike indicated a true width at surface
of 15m. Hole 24PNRDD008 was drilled vertically due to rig access issues and
followed the pegmatite at a shallow angle to the dip, intersecting the
pegmatite for approximately 65m. Although the intercept does not reflect the
true width of the pegmatite, when viewed in cross section it is apparent that
the pegmatite is increasing in width at depth (Figures 3 and 4).
Figure 2. Location of Phase 1 diamond drilling at Pinheiro with significant
intercepts from assays received to date.
Figure 3. Cross section 1 of Pinheiro deposit.
Figure 4. Cross section 2 of Pinheiro deposit.
NOA
At NOA, results have been received from two metallurgical drill holes and one
geotechnical drill hole that intersected the pegmatite. Drill holes 24NOADD010
and 24NOADD011 were drilled as twins of previous RC holes (18NOARC012 and
17NOARC004 respectively) to get representative core for metallurgical testing.
The results were as expected with similar widths and grades to the previous
drilling and are considered representative of the ore that will be processed
during mining. The third diamond hole 24NOADD007 was a geotechnical hole
drilled at the western end of the main pegmatite and results were as expected
(Figure 5).
Figure 5. Location of Phase 1 diamond drilling at NOA with significant
intercepts from assays received to date.
Reservatório
At Reservatório a diamond drill hole was drilled for geotechnical purposes to
intersect the base of the designed pit to gain structural information. The
hole intersected 53.1m of pegmatite/aplite, which was a much greater thickness
than has been modelled previously at this location. The assay results that
were received indicate two mineralised zones, one along the hanging wall and
the other along the footwall of the body (Hanging wall: 7m at 1.16% Li(2)O
from 143m and Footwall: 6.5m at 1.22% Li(2)O from 180.5m). The results are
still being interpreted but possibly indicate the coalition of a deeper
pegmatite with the main Reservatório pegmatite (Figures 6 and 7).
Figure 6. Location of Phase 1 diamond drilling at Reservatório with
significant intercepts from assays results.
Figure 7. Cross section 1 of Reservatório deposit.
Next steps
Planning is currently underway for Phase 2 of the DFS drilling programme with
the results from Phase 1 being used to fine tune the planned holes to infill
and extend the known lithium mineralisation.
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.
Regulatory Information
This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
Savannah - Enabling Europe's energy transition.
**ENDS**
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For further information please visit www.savannahresources
(http://www.savannahresources) .com or contact:
Savannah Resources PLC Tel: +44 20 7117 2489
Emanuel Proença, CEO
SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker) Tel: +44 20 3470 0470
David Hignell/ Charlie Bouverat (Corporate Finance)
Grant Barker/Abigail Wayne (Sales & Broking)
SCP Resource Finance (Joint Broker) Tel: +44 204 548 1765
Filipe Martins/Chris Tonkin
Camarco (Financial PR) Tel: +44 20 3757 4980
Gordon Poole/ Emily Hall / Nuthara Bandara
LPM (Portugal Media Relations) Tel: +351 218 508 110
Herminio Santos/ Jorge Coelho / Margarida Pinheiro
About Savannah
Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project in northern Portugal, the largest battery
grade spodumene lithium resource outlined to date in Europe.
Through the Barroso Lithium Project (the 'Project'), Savannah will help
Portugal to play an important role in providing a long-term, locally sourced,
lithium raw material supply for Europe's rapidly developing lithium battery
value chain. After the Environmental Licence was granted in May 2023 and the
Scoping Study confirmed the economic potential of the Project in June 2023,
production is now targeted and on track to begin in 2026. At that stage,
Savannah will start producing enough lithium (contained in c.190,000tpa of
spodumene concentrate) for approximately half a million vehicle battery packs
per year, equal to a significant portion of the European Commission's Critical
Raw Material Act goal of a minimum 10% of European endogenous lithium
production set for 2030. Savannah is focused on the responsible development
and operation of the Barroso Lithium Project so that its impact on the
environment is minimised and the socio-economic benefits that it can bring to
all its stakeholders are maximised.
In June 2024, Savannah entered a strategic partnership with AMG Critical
Materials N.V., the global critical materials business and established lithium
market participant. AMG has invested GBP 16m in Savannah in exchange for a
15.8% stake in the Company and a 5 year, 45ktpa spodumene offtake agreement.
This investment alongside existing cash provides Savannah with the finance
required to take the Project to a Final Investment Decision point. AMG can
increase its offtake to 90ktpa for 10 years if it provides an acceptable full
project funding solution for the Project's construction.
The Company is listed and regulated on the London Stock Exchange's Alternative
Investment Market (AIM) and the Company's ordinary shares are also available
on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol
FWB: SAV, and the Börse Stuttgart (SWB) under the ticker "SAV".
APPENDIX 1 - Drill hole locations of Phase 1 RC and Diamond Resource Holes.
Hole_ID Prospect Hole Type Total East North Elevation Dip Azimuth
Depth (m) (mE) (mN) (mASL)
23NOARC026 NOA RC 111 599104 4609510 677 -60 198
23NOARC027 NOA RC 40 599015 4609572 689 -60 198
23NOARC028 NOA RC 40 599047 4609565 692 -60 198
23NOARC029 NOA RC 42 599025 4609498 693 -60 200
23NOARC030 NOA RC 35 598992 4609575 686 -60 200
23NOARC031 NOA RC 30 598988 4609559 687 -60 200
23NOARC032 NOA RC 123 599086 4609555 691 -60 200
23NOARC033 NOA RC 20 598985 4609540 688 -60 200
23NOARC034 NOA RC 40 598894 4609584 687 -60 200
23NOARC035 NOA RC 43 598900 4609610 683 -60 200
23NOARC036 NOA RC 35 598916 4609606 679 -60 200
23NOARC037 NOA RC 67 598916 4609589 678 -60 200
23NOARC038 NOA RC 35 599205 4609406 691 -60 200
23NOARC039 NOA RC 61 599238 4609389 687 -60 200
23NOARC040 NOA RC 45 599174 4609436 687 -60 200
23NOARC041 NOA RC 60 599135 4609470 681 -60 200
23NOARC042 NOA RC 85 599190 4609491 673 -60 200
23NOARC043 NOA RC 130 599074 4609531 689 -60 200
23NOARC044 NOA RC 35 599100 4609457 674 -60 200
23NOARC045 NOA RC 35 599112 4609440 674 -60 200
23NOARC046 NOA RC 35 598943 4609589 678 -60 200
23NOARC047 NOA RC 25 598938 4609573 679 -60 200
23NOARC048 NOA RC 105 599157 4609520 666 -60 200
24NOADD006 NOA DD 80 599126 4609500 674 -70 0
24NOADD007 NOA DD 70.11 599053 4609476 682 -50 265
24NOADD008 NOA DD 74.25 599118 4609438 674 -60 200
24NOADD009 NOA DD 100.25 599208 4609467 680 -50 135
24NOADD010 NOA DD 60.15 599247 4609409 689 -60 202
24NOADD011 NOA DD 65.55 599159 4609483 677 -60 203
24PNRRC020 Pinheiro RC 110 601380 4606960 542 -60 270
24PNRRC021 Pinheiro RC 113 601402 4606933 543 -60 220
24PNRRC022 Pinheiro RC 100 601401 4606936 543 -60 265
24PNRRC023 Pinheiro RC 138 601408 4606892 547 -60 190
24PNRRC024 Pinheiro RC 144 601406 4606893 547 -65 220
24PNRRC025 Pinheiro RC 100 601402 4606932 543 -55 290
24PNRDD003 Pinheiro DD 101.15 601354 4606886 537 -60 90
24PNRDD004 Pinheiro DD 80 601355 4606895 538 -60 60
24PNRDD005 Pinheiro DD 70 601362 4606909 539 -60 248
24PNRDD006 Pinheiro DD 60.1 601358 4606956 543 -50 20
24PNRDD007 Pinheiro DD 50 601350 4606934 541 -60 70
24PNRDD008 Pinheiro DD 112.7 601349 4606935 541 -90 0
24PNRWB001 Pinheiro PERC 130 601355 4606893 538 -90 0
24PNRWB002 Pinheiro PERC 130 601360 4606908 539 -90 0
23RESRC038 Reservatório RC 207 599510 4609249 655 -90 0
23RESRC042 Reservatório RC 12 599650 4609094 594 -60 150
23RESRC043 Reservatório RC 9 599687 4609109 591 -60 150
23RESRC044 Reservatório RC 18 599618 4609011 599 -60 150
23RESRC045 Reservatório RC 130 599679 4609231 619 -90 0
23RESDD009 Reservatório DD 90.5 599764 4609176 611 -60 150
23RESRC039 Reservatório RCDD 193.9 599511 4609246 655 -70 150
23RESRC040 Reservatório RCDD 192.6 599557 4609245 649 -90 0
23RESRC041 Reservatório RCDD 175 599559 4609241 649 -70 150
24RESDD010 Reservatório DD 40 599688 4609110 590 -60 150
24RESDD011 Reservatório DD 50 599617 4609016 599 -60 150
24RESDD012 Reservatório DD 50 599661 4609070 590 -60 150
24RESDD013 Reservatório DD 200.2 599609 4609239 636 -70 147
24RESDD014 Reservatório DD 140.05 599543 4609235 650 -50 328
23RESWB001 Reservatório PERC 170 599376 4609275 664 -90 0
23RESWB002 Reservatório PERC 170 599334 4609301 663 -90 0
23RESWB003 Reservatório PERC 169 599339 4609284 667 -90 0
24GRARC132 Grandão RC 90 601743 4608177 521 -90 0
24GRARC133 Grandão RC 39 601919 4607864 563 -90 0
24GRADD047 Grandão DD 79.8 601827 4607837 547 -75 80
23GRAWB003 Grandão PERC 240 601864 4608300 545 -90 0
23GRAWB004 Grandão PERC 180 601861 4608290 546 -90 0
23GRAWB005 Grandão PERC 120 601742 4608177 521 -90 0
23GRAWB006 Grandão PERC 202 601724 4608186 518 -90 0
APPENDIX 2 -Summary of Significant Intercepts from the diamond drilling using a 0.5% Li2O Cutoff.
Hole_ID Prospect From (m) To (m) Interval (m) Grade Li(2)O%
24PNRDD003 Pinheiro 33.5 70 36.5 1.24
24PNRDD004 Pinheiro 41.02 57.5 16.48 1.22
24PNRDD007 Pinheiro 9.32 23.4 14.08 1.04
24PNRDD008 Pinheiro 18.57 35 16.43 1.57
and 61 72 11 0.79
24NOADD007 NOA 20.63 26.89 6.26 0.98
24NOADD011 NOA 49.14 59 9.86 1.3
24NOADD010 NOA 0.35 5.8 5.45 1.25
and 31 52 21 1.26
24RESDD013 Reservatório 143 150 7 1.16
and 172 177.7 5.7 0.81
and 180.5 187 6.5 1.22
APPENDIX 3 - JORC 2012 Table 1 -DFS Infill Drilling
JORC Table 1 Section 1 Sampling Techniques and Data
Criteria JORC Code Explanation Commentary
Sampling techniques · Nature and quality of sampling (e.g. cut channels, random chips, or · The majority of previous holes were reverse circulation, sampled
specific specialised industry standard measurement tools appropriate to the at 1m intervals. RC samples were collected in large plastic bags attached to
minerals under investigation, such as down hole gamma sondes, or handheld XRF the cyclone. On completion of the 1m run the large sample was passed through a
instruments, etc). These examples should not be taken as limiting the broad 3-stage riffle splitter to collect a 2.5-4kg sub sample, to be used for assay.
meaning of sampling.
· Diamond holes were completed for metallurgical sampling,
· Include reference to measures taken to ensure sample representivity geotechnical analysis and resource estimation. Core was PQ/HQ size, sampled at
and the appropriate calibration of any measurement tools or systems used. 1m intervals in the pegmatite, with boundaries sampled to geological
boundaries. Half core samples were collected for analysis.
· Aspects of the determination of mineralisation that are Material to
the Public Report. In cases where 'industry standard' work has been done this · Drilling was carried out to infill previous drilling to achieve a
would be relatively simple (e.g. 'reverse circulation drilling was used to nominal 40m by 40m spacing with selected infill to 40m by 20m spacings, or as
obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for twins of previous RC drilling to get known samples for metallurgical testing.
fire assay'). In other cases more explanation may be required, such as where Geotechnical drilling was designed purely to intersect planned pit walls and
there is coarse gold that has inherent sampling problems. Unusual commodities pegmatite intersections were incidental, but followed all standard logging and
or mineralisation types (e.g. submarine nodules) may warrant disclosure of sampling in line with all the drilling.
detailed information.
· Collar surveys are carried using differential DGPS with an
accuracy to within 0.2m.
· A down hole survey for each hole was completed using gyro
equipment.
· The lithium mineralisation is predominantly in the form of
Spodumene-bearing pegmatites, the pegmatites are unzoned and vary in thickness
from 5m-109m.
Drilling techniques · Drill type (e.g. core, reverse circulation, open-hole hammer, rotary • RC drilling used a 120mm diameter face sampling hammer.
air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple
or standard tube, depth of diamond tails, face-sampling bit or other type, · Core drilling was carried out using an PQ/HQ double tube core
whether core is oriented and if so, by what method, etc). barrels.
· Percussion drilling was carried out using a down hole hammer with
air being passed down through the centre of the string and the sample
travelling up the outside of the drill string.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · RC drilling sample weights were monitored to ensure samples were
results assessed. maximised. 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
· Measures taken to maximise sample recovery and ensure representative were in the range of 4-6kg.
nature of the samples.
· Core recovery was measured and was found to be generally
· Whether a relationship exists between sample recovery and grade and excellent.
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material. · No obvious relationships between sample recovery and grade.
Logging · Whether core and chip samples have been geologically and · RC holes were logged in the field at the time of sampling. Core
geotechnically logged to a level of detail to support appropriate Mineral was logged in detail for a variety of physical characteristics in a logging
Resource estimation, mining studies and metallurgical studies. yard away from the drilling.
· Whether logging is qualitative or quantitative in nature. Core (or · Each 1m sample interval was carefully homogenised and assessed
costean, channel, etc) photography. for lithology, colour, grainsize, structure and mineralisation. Core was
sampled to geological boundaries and at 1m intervals therein.
· The total length and percentage of the relevant intersections logged.
· A representative chip sample produced from RC drilling was washed
and taken for each 1m sample and stored in a chip tray which was photographed.
· Percussion holes were logged for every metre drilled with the
spoil collected for each metre by shovel and placed in a sample bag, a
representative sub sample was taken and logged for lithology, colour,
grainsize and mineralisation.
· Core was photographed.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · 1m RC samples were split by the riffle splitter at the drill rig
taken. and sampled dry.
· If non-core, whether riffled, tube sampled, rotary split, etc and · Core was cut in half using a diamond saw with 1m half core
whether sampled wet or dry. samples submitted for analysis or for metallurgical samples one of the halves
was cut again for a quarter core and sent for analysis.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique. · The sampling was conducted using industry standard techniques and
were considered appropriate.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. · Field duplicates were used to test repeatability of the
sub-sampling and were found to be satisfactory.
· Measures taken to ensure that the sampling is representative of the
in-situ material collected, including for instance results for field · Every effort was made to ensure that the samples were
duplicate/second-half sampling. representative and not biased in any way.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Samples were received, sorted, labelled, and dried.
laboratory procedures used and whether the technique is considered partial or
total. · Samples were crushed to 70% less than 2mm, riffle split off 250g,
pulverise split to better than 85% passing 75 microns and 5g was split of for
· For geophysical tools, spectrometers, handheld XRF instruments, etc, assaying.
the parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc. · The samples were analysed using ALS Laboratories ME-MS89L Super
Trace method which combines a sodium peroxide fusion with ICP-MS
· Nature of quality control procedures adopted (e.g. standards, blanks, instrumentation utilising collision/reaction cell technologies to provide the
duplicates, external laboratory checks) and whether acceptable levels of lowest detection limits available.
accuracy (i.e. lack of bias) and precision have been established.
· A prepared sample (0.2g) is added to sodium peroxide flux, mixed
well and then fused in at 670°C. The resulting melt is cooled and then
dissolved in 30% hydrochloric acid. This solution is then analysed by ICP-MS
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.
· Standards/blanks and duplicates were inserted on a 1:20 ratio for
both to samples taken.
· Duplicate sample regime is used to monitor sampling methodology
and homogeneity.
· 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-sample run is assayed with two blanks,
two certified standards and one duplicate sample and results are evaluated
accordingly.
· A QA/QC review of all information indicated that all assays were
satisfactory.
Verification of sampling and assaying · The verification of significant intersections by either independent · All information was internally audited by company personnel.
or alternative company personnel.
· During this programme no holes were twinned.
· The use of twinned holes.
· Savannah's experienced project geologists supervised all
· Documentation of primary data, data entry procedures, data processes.
verification, data storage (physical and electronic) protocols.
· All field data is entered into a custom log sheet and then into
· Discuss any adjustment to assay data. excel spreadsheets (supported by look-up tables) at site and subsequently
validated as it is imported into the centralised Access database.
· Hard copies of logs, survey and sampling data are stored in the
local office and electronic data is stored on the company's cloud drive.
· 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 points · Accuracy and quality of surveys used to locate drill holes (collar · The coordinate of each drill hole was taken at the time of
and down-hole surveys), trenches, mine workings and other locations used in collecting using a handheld GPS with an accuracy of 5m. All collars were
Mineral Resource estimation. subsequently surveyed using DGPS with an accuracy of 0.2m.
· Specification of the grid system used. · The grid system used is WSG84 Zone29N.
· Quality and adequacy of topographic control. · An accurate, aerial topographic survey was obtained with accuracy
of +/- 0.5m.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Drilling was carried out on an infill basis to attain on a
nominal 40m by 40m and based on geological targets with selected infill to 40m
· Whether the data spacing and distribution is sufficient to establish by 20m.
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied. · Drill data is considered of sufficient spacing to define Measured
and Indicated Mineral Resource in accordance with requirements for a DFS
· Whether sample compositing has been applied.
· Compositing to 1m will be applied prior to resource estimation.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Drilling was generally carried out using angled holes on the
possible structures and the extent to which this is known, considering the Western Pegmatite at Pinheiro with various azimuths due to limited access and
deposit type. the holes were generally dipping at -60° however limited access due to steep
topography in places meant that the majority of the RC holes were drilled in
· If the relationship between the drilling orientation and the the same direction as the dip of the pegmatite and so widths are not truly
orientation of key mineralised structures is considered to have introduced a representative. The width of the pegmatite is calculated to be between 25m and
sampling bias, this should be assessed and reported if material. 40m based on previous drilling orthogonal to the pegmatite.
· No orientation-based sampling bias has been identified in the
data.
· At Reservatório and NOA, the holes were drilled as close to
perpendicular to strike as possible.
· All Geotech holes were drilled in various orientations to
intersect planned pit walls.
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 reviews · The results of any audits or reviews of sampling techniques and data. · Internal company auditing based on previous programmes is carried
out and an external review will be carried out by the resource consultant to
assure that all data collection and QA/QC procedures were conducted to
industry standards.
JORC Table 1 Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · All work was completed inside the Mina do Barroso project C-100.
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites, · Savannah has received written confirmation from the DGEG that
wilderness or national park and environmental settings. under article 24 of Decree-Law no. 88/90 of March 16 being relevant
justification based on the resources allocated exploited and intended,
· The security of the tenure held at the time of reporting along with any Savannah has been approved an expansion up to 250m of C100 mining concession
known impediments to obtaining a license to operate in the area. in specific areas where a resource has been defined and the requirement for
the expansion can be justified.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Limited exploration work has been carried out by previous
operators.
· No historic information has been included in the Mineral Resource
estimates.
Geology · Deposit type, geological setting and style of mineralisation. · The lithium mineralisation is predominantly in the 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 vary in thickness from 5m-109m.
Drill hole information · A summary of all information material to the under-standing of the · A table containing all drill holes drilled and a list of significant
exploration results including a tabulation of the following information for assays from the results received is included with the release.
all Material drill holes:
· No material data has been excluded from the release.
· easting and northing of the drill hole collar
· elevation or RL (Reduced Level - elevation above sea level in metres)
of the drill hole collar
· dip and azimuth of the hole
· down hole length and interception depth
· 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 methods · In reporting Exploration Results, weighting averaging techniques, · Length weighted average grades have been reported.
maximum and/or minimum grade truncations (e.g. cutting of high grades) and
cut-off grades are usually Material and should be stated. · No high-grade cuts have been applied to reported grades.
· Where aggregate intercepts incorporate short lengths of high-grade · Metal equivalent values are not being reported; however, Li is
results and longer lengths of low grade results, the procedure used for such reported as ppm and converted to the oxide Li(2)O for resource purposes. The
aggregation should be stated and some typical examples of such aggregations conversion factor used is to divide the Li value by 10,000 and multiplying by
should be shown in detail. 2.153 to represent the value as a percentage.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · The majority of holes have been drilled at angles to intersect the
Exploration Results. mineralisation in the same direction as the dip of the pegmatite, due to
access problems.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · The geometry of the Western Pegmatite at Pinheiro is moderate dipping
to the northwest and most of the holes had to be drilled at a close angle to
· If it is not known and only the down hole lengths are reported, there the mineralisation in that part of the deposit.
should be a clear statement to this effect (e.g. 'down hole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · A relevant plan showing the drilling is included within this
intercepts should be included for any significant discovery being reported. release.
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced Reporting · Accuracy and quality of surveys used to locate drill holes (collar · All relevant results available have been previously reported.
and down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.
· 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 exploration data · Other exploration data, if meaningful and material, should be reported · Geological mapping and rock chip sampling has been conducted over
including (but not limited to): geological observations; geophysical survey the project area.
results; 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. tests for lateral · The present drill programme has been designed to infill previous
extensions or depth extensions or large- scale step-out drilling). drilling to attain a measured or indicated class for an upcoming resource
estimation. Further work is being planned as part of a second phase of
· Diagrams clearly highlighting the areas of possible extensions, resource infill drilling.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive. · Economic evaluation of the defined Mineral Resources, will be
completed after the second phase of drilling.
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