REG - Savannah Resources - Encouraging results in second batch of assays
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RNS Number : 7924G Savannah Resources PLC 30 April 2025
30 April
2025
Savannah Resources Plc
(AIM: SAV) ('Savannah', or the 'Company')
Drilling confirms zones of near surface higher-grade lithium mineralisation at
Pinheiro and Reservatório
Savannah Resources plc, the developer of the Barroso Lithium Project (the
'Project') in Portugal, a 'Strategic Project' under the European Critical Raw
Materials Act and Europe's largest spodumene lithium deposit, is pleased to
announce the second batch of assay results from Phase 2 of its Definitive
Feasibility Study ('DFS') drilling programme at the Project. The 117-hole,
c.13,000m programme is being undertaken for further JORC Resource definition,
geotechnical and metallurgical purposes.
Highlights:
· The Phase 2 drill programme for the DFS is well underway, targeting
the Pinheiro, Reservatório and Grandão deposits.
· To date, 75 holes have been drilled for c. 8,300m in the planned 117
hole/c.13,000m programme.
· New significant lithium assays have been received from a further 22
holes (5 at Pinheiro, 12 at Reservatório and 5 at Grandão). Assays from 42
holes have now been received to date overall.
· The initial stage of the Phase 2 drilling is nearing completion and
the results from this will feed into upgrading the confidence level of the
JORC Resource estimates for each deposit.
· At Pinheiro, broad zones of near surface, higher grade lithium
mineralisation are now being intersected on a regular basis. Better
intersections include:
o 20.76m @ 1.48% Li(2)O from 44.62m in hole 25PNRDD011, including 9m @ 1.87%
Li(2)O
o 31.04m @ 1.46% Li(2)O from 65.96m in hole 25PNRDD013, including 14m @
1.73% Li(2)O and 12m @ 1.39% Li(2)O
· At Reservatório, the latest assays are indicating zones of
higher-grade mineralisation, including some near surface. Better intersections
include:
o 27m @ 1.25% Li(2)O from 100m in hole 25RESRC050, including 2m @ 2.02%
Li(2)O, 8.9m @ 1.33% Li(2)O and 10m @ 1.4% Li(2)O
o 22m @ 1.56% Li(2)O from 25m in hole 25RESRC064, including 9m @ 2.00%
Li(2)O, 3m @ 1.68% Li(2)O and 2m @ 1.42% Li(2)O
o 22m @ 1.51% Li(2)O from 64m in hole 25RESRC058, including 10m @ 2.00%
Li(2)O and 6m @ 2.89% Li(2)O
o 22m @ 1.35% Li(2)O from 65m in hole 25RESRC060, including 6m @ 1.68%
Li(2)O and 3m @ 1.72% Li(2)O
· Recent results from Grandão confirm that mineralisation continues
along strike and down dip with better intersections including:
o 13m @ 1.14% Li(2)O from 3m in hole 25GRARC140, including 4m @ 1.62% Li(2)O
Savannah's Technical Director, Dale Ferguson said, "We have made good progress
to date with our field programme as we move towards the conclusion of the
Phase 2 DFS drilling. We are particularly encouraged by the continued
higher-grade zones of lithium mineralisation we are now consistently
encountering at the Pinheiro deposit. We plan to mine Pinheiro very early in
Project's development, so any increase in the average grade and size of this
orebody could have a positive impact on operating costs and cash flow
generation in the Project's first years, and therefore the Project's overall
economics.
"This second batch of drilling results has also highlighted zones of
higher-grade mineralisation at Reservatório with one being intersected only
25m down hole. The drilling is continuing to build our confidence in the
grades and tonnages of the existing JORC Resource estimates and the results
are pointing towards the continued expansion of the resources both along
strike and down dip.
"This Project continues to reveal strong signs of its greater resource
potential which, aside from affirming our early assumptions, confirms why this
project is of increasingly strategic importance to Europe. The team and I look
forward to reporting further results over the coming months as we move towards
the production of new JORC Resource estimates for these orebodies as part of
the Project's DFS. Busy and exciting times lie ahead for Savannah."
Further Information
As previously announced, Savannah started Phase 2 of the DFS-related drilling
programme at the Barroso Lithium Project in January 2025 (see Figure 1). The
programme consists of drilling for resource, metallurgical and geotechnical
purposes using primarily Reverse Circulation ('RC') rigs with some
supplementary diamond drilling. To date, 8,302m of drilling has been completed
of the c.13,000m initially planned for Phase 2. The programme is ongoing, and
updates will be provided as further results are received.
Figure 1. Barroso Lithium Project summary map showing deposits and drill hole
locations.
Pinheiro
The current JORC Resource estimate for the Pinheiro deposit (all Inferred as
at May 2024) is 2.0Mt at 1.0% Li(2)O.
The drilling at Pinheiro is building on the Phase 1 DFS programme completed
last year, and is continuing to focus on infilling the previous drill
programme carried out in 2018. Recent results show that the Eastern Pegmatite
continues to carry ore grade lithium mineralisation at depth, with the
thickness of the pegmatite generally increasing, although there is some
variability along strike. The drilling has focussed on the northern and
central section of the pegmatite, which has shown some variability in the
orientation in terms of the trend direction and direction of dip, providing a
challenge for targeting of the drilling. However, the latest drilling has
shown that the Eastern Pegmatite extends to the northeast, with further
drilling being considered dependant on results. A drill hole designed for
geotechnical purposes (25PNRDD011) contained a significant intersection of
pegmatite which returned 20.76m at 1.48% Li(2)O from 44.62m.
Two holes were completed on the southern extent of the Western Pegmatite with
one hole down dip of the previously reported 25PNRRC030, which intersected
high grade lithium mineralisation across the width of the pegmatite (24m at
1.17% Li(2)O from 11m and 28m at 1.21% Li(2)O from 38m). The diamond drill
hole 25PNRDD013 drilled about 50m down dip of 25PNRRC030 continued with high
grades over the width of the pegmatite intercept (33.04m at 1.46% Li(2)O),
highlighting the increased potential at depth. The Western Pegmatite also
remains open along strike to the south.
Significant recent lithium mineralisation intersections at Pinheiro include:
o 20.76m @ 1.48% Li(2)O from 44.62m in hole 25PNRDD011, including 9m @ 1.87%
Li(2)O
o 31.04m @ 1.46% Li(2)O from 65.96m in hole 25PNRDD013, including 14m @
1.73% Li(2)O and 12m @ 1.39% Li(2)O
Figure 2. Location of Phase 2 diamond drilling at Pinheiro with significant
intercepts to date.
Figure 3. Cross section 1 Eastern Pegmatite of Pinheiro deposit (Section
A-A').
Figure 4. Cross section 2 Western Pegmatite of Pinheiro deposit (Section
B-B').
Reservatório
The current JORC Resource estimate for the Reservatório deposit (Indicated
& Inferred as at May 2024) is 4.2Mt at 0.9% Li(2)O.
Drilling at Reservatório continues to test the down dip and eastern
extremities of the pegmatite and continues to demonstrate the extension of the
lithium mineralisation beyond the designed mining parameters. Numerous lithium
intercepts were returned above the current average for the orebody of 0.9%
Li(2)O. While the drilling has shown that there is possibly some structural
disruption to the pegmatite including several broken zones within the
pegmatite indicating possible faulting offsetting the structure and some
natural variability to the geometry of the pegmatite, there is suggestion that
the pegmatite continues beyond the present planned programme.
Significant mineralised intersections at Reservatório include:
o 30.15m @ 1.15% Li(2)O from 129.85m in hole 25RESRC049, including 3m @
1.46% Li(2)O, 6.2m @ 1.79% Li(2)O and 5m @ 1.58% Li(2)O
o 27m @ 1.25% Li(2)O from 100m in hole 25RESRC050, including 2m @ 2.02%
Li(2)O, 8.9m @ 1.33% Li(2)O and 10m @ 1.4% Li(2)O
o 22m @ 1.56% Li(2)O from 25m in hole 25RESRC064, including 9m @ 2% Li(2)O,
3m @ 1.68% Li(2)O and 2m @ 1.42% Li(2)O
o 22m @ 1.51% Li(2)O from 64m in hole 25RESRC058, including 10m @ 2.00%
Li(2)O and 6m @ 2.89% Li(2)O
o 22m @ 1.35% Li(2)O from 65m in hole 25RESRC060, including 6m @ 1.68%
Li(2)O and 3m @ 1.72% Li(2)O
o 18.06m @ 0.82% Li(2)O from 136.94m in hole 25RESRC048, including 3m @
1.29% Li2O
o 13m @ 1.11% Li(2)O from 105m in hole 25RESRC065, including 2m @ 1.66%
Li(2)O
o 13m @ 1.01% Li(2)O from 159m in hole 25RESRC048, including 5.2m @ 1.30%
Li(2)O
The drilling operations at Reservatório are ongoing (Figures 5 and 6).
Figure 5. Location of Phase 2 diamond drilling at Reservatório with
significant intercepts.
Figure 6. Cross section of Reservatório deposit (Section A - A').
Grandão
The current JORC Resource estimate for the Grandão deposit (Measured,
Indicated & Inferred as at May 2024) is 17.7Mt at 1.04% Li(2)O.
The drilling at Grandão has continued to focus primarily on the southern
extremities of the pegmatite and where it occurs nearer to the surface and
will be part of the preliminary mining stages. The drilling has shown that the
southern edge is thinner than the central part of the pegmatite with widths
varying between 3m to 20m.
The bulk of the Grandão resource has already been classified in the Indicated
or Measured category and this round of drilling is giving more confidence to
the southern and northern extents of the pegmatite to aid in mine design.
Significant mineralised intersections at Grandão include:
o 13m @ 1.14% Li(2)O from 3m in hole 25GRARC140, including 4m @ 1.62% Li(2)O
o 19m @ 0.64% Li(2)O from 15m in hole 25GRARC141, including 6m @ 1.56%
Li(2)O
o 12m @ 0.99% Li(2)O from 47m in hole 25GRARC141, including 4m @ 1.45%
Li(2)O
Figure 9. Location of Phase 2 drilling at Grandão with significant intercepts
from assays results.
Next steps
The initial stage of the Phase 2 drilling is nearing completion and the
results from this will feed into upgrading the confidence level of the JORC
Resource estimates for each deposit.
In conjunction with resource drilling, preparation of the specific
requirements of core samples for metallurgical testing has commenced. Once
results have been received the specific sample requirements requested by
Savannah's metallurgical consultants will be sorted and sent for testing.
The drilling of diamond drill holes for geotechnical testing is complete at
Pinheiro and is currently being carried out at Grandão before being
undertaken at Reservatório. The results from this programme will be used to
aid in the design of the various mining pits to ensure maximum extraction of
ore under safe and stable conditions.
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 & Broker) Tel: +44 20 3470 0470
David Hignell/ Charlie Bouverat (Corporate Finance)
Grant Barker/Abigail Wayne (Sales & Broking)
Canaccord Genuity Limited (Joint Broker) Tel: +44 20 7523 8000
James Asensio / Charlie Hammond (Corporate Broking)
Ben Knott (Sales)
Camarco (UK Financial PR) Tel: +44 20 3757 4980
Gordon Poole/ Emily Hall / Nuthara Bandara
Portugal Media Relations
Antonio Neves Costa, Communications Manager Tel: +351 962 678 912
About Savannah
Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project (the 'Project') in northern Portugal. The
Project is the largest battery grade spodumene lithium resource outlined to
date in Europe and was classified as a 'Strategic Project' by the European
Commission under the Critical Raw Materials Act in March 2025.
Through 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 lithium battery value chain. Once in operation the Project will
produce enough lithium (contained in c.190,000tpa of spodumene concentrate)
for approximately half a million vehicle battery packs per year and hence make
a significant contribution towards the European Commission's Critical Raw
Material Act goal of a minimum 10% of European endogenous lithium production
from 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.
The Company is listed and regulated on the London Stock Exchange's Alternative
Investment Market (AIM) and trades under the ticker "SAV".
APPENDIX 1: Drill hole locations of Completed Phase 2 RC and Diamond Resource Holes (* with assays)
Hole ID Prospect Hole Type Tot Depth (m) Easting Northing RL Dip Azimuth
25GRADD048 Grandão DD 128.25 601650 4607783 567 -50 190
25GRADD049 Grandão DD 120.7 601516 4607909 507 -50 230
25GRARC134 Grandão RC 30 601928 4607805 578 -90 0
25GRARC135 Grandão RC 50 601889 4607672 587 -90 0
25GRARC136 Grandão RC 40 601884 4607651 595 -90 0
25GRARC137 Grandão RC 80 601772 4607635 606 -90 0
25GRARC138 Grandão RC 80 601776 4607634 606 -60 90
25GRARC139 Grandão RC 84 601803 4607696 577 -90 0
25GRARC140 Grandão RCDD 28.6 601817 4607719 562 -90 0
25GRARC141 Grandão RC 90 601787 4607763 551 -72 90
25GRARC142 Grandão RCDD 49 601734 4607675 596 -60 90
25GRARC143 Grandão RCDD 50 601732 4607675 597 -90 0
25GRARC144 Grandão RC 170 601730 4607716 582 -70 90
25GRARC145 Grandão RC 142 601729 4607716 582 -90 0
25GRARC146 Grandão RCDD 122.25 601634 4608025 504 -60 120
25GRARC147 Grandão RC 141 601742 4608055 539 -65 45
25PNRDD009 Pinheiro DD 84.85 601594 4606830 580 -60 270
25PNRDD010 Pinheiro DD 110.35 601590 4606831 584 -57 215
25PNRDD011 Pinheiro DD 120.75 601583 4606909 575 -50 263
25PNRDD012 Pinheiro DD 101.2 601579 4606910 575 -50 63
25PNRDD013 Pinheiro DD 124.9 601399 4606803 538 -60 90
25PNRDD014 Pinheiro DD 111.8 601414 4606856 561 -50 185
25PNRDD015 Pinheiro DD 126.8 601598 4607011 583 -50 310
25PNRDD016 Pinheiro DD 108.3 601399 4606802 538 -50 110
25PNRDD017 Pinheiro DD 100.1 601599 4607011 583 -62 310
25PNRDD018 Pinheiro DD 179.55 601637 4606994 572 -55 230
25PNRRC026 Pinheiro RCDD 120 601607 4606920 573 -70 270
25PNRRC027 Pinheiro RC 100 601578 4606879 581 -90 0
25PNRRC028 Pinheiro RCDD 94.3 601577 4606879 581 -80 270
25PNRRC029 Pinheiro RC 70 601575 4606878 581 -60 270
25PNRRC030 Pinheiro RC 70 601430 4606800 554 -60 90
25PNRRC031 Pinheiro RCDD 128.55 601599 4607010 583 -60 245
25PNRRC032 Pinheiro RC 100 601639 4607036 584 -60 270
25PNRRC033 Pinheiro RCDD 131.5 601636 4606995 573 -60 270
25PNRRC034 Pinheiro RC 85 601664 4607061 591 -60 270
25PNRRC035 Pinheiro RC 110 601589 4606977 572 -60 270
25RESRC046 Reservatório RCDD 184.8 599583 4609279 639 -80 150
25RESRC047 Reservatório RCDD 178.7 599585 4609275 639 -65 150
25RESRC048 Reservatório RCDD 186.5 599498 4609187 641 -90 0
25RESRC049 Reservatório RCDD 174 599500 4609184 641 -70 150
25RESRC050 Reservatório RCDD 140.1 599520 4609147 631 -63 150
25RESRC051 Reservatório RCDD 160.4 599618 4609287 620 -80 150
Hole ID Prospect Hole Type Tot Depth (m) Easting Northing RL Dip Azimuth
25RESRC052 Reservatório RCDD 158.8 599620 4609285 619 -70 150
25RESRC053 Reservatório RC 111 599695 4609242 613 -90 0
25RESRC054 Reservatório RCDD 150.4 599656 4609309 604 -90 0
25RESRC055 Reservatório RCDD 105 599657 4609306 604 -70 150
25RESRC056 Reservatório RCDD 88 599913 4609253 577 -80 0
25RESRC057 Reservatório RC 88 599915 4609247 577 -60 140
25RESRC058 Reservatório RCDD 96 599710 4609302 593 -80 150
25RESRC059 Reservatório RC 100 599950 4609211 586 -60 150
25RESRC060 Reservatório RC 147 599712 4609299 593 -60 150
25RESRC061 Reservatório RC 120 599783 4609267 588 -70 310
25RESRC062 Reservatório RC 120 599784 4609266 588 -90 0
25RESRC063 Reservatório RC 67 599934 4609230 581 -60 150
25RESRC064 Reservatório RC 55 599970 4609238 575 -60 150
25RESRC065 Reservatório RC 140 599503 4609102 617 -60 150
25RESRC066 Reservatório RC 70 599970 4609241 575 -80 0
25RESRC067 Reservatório RCDD 160.8 599481 4609136 628 -65 150
25RESRC068 Reservatório RC 94 599968 4609241 575 -60 340
25RESRC069 Reservatório RC 91 599901 4609215 594 -60 150
25RESRC070 Reservatório RC 100 599888 4609236 589 -60 150
25RESRC071 Reservatório RCDD 143 599480 4609138 628 -75 150
25RESRC072 Reservatório RC 85 599889 4609238 589 -90 0
25RESRC073 Reservatório RCDD 177.25 599479 4609139 628 -85 150
25RESRC074 Reservatório RC 90 599586 4609050 607 -60 150
25RESRC075 Reservatório RCDD 85 599863 4609275 579 -70 150
25RESRC076 Reservatório RC 100 599568 4609080 614 -60 150
25RESRC077 Reservatório RC 105 599566 4609082 614 -80 150
25RESRC078 Reservatório RCDD 91 599863 4609276 579 -90 0
25RESRC079 Reservatório RC 121 599733 4609259 603 -60 150
25RESRC080 Reservatório RC 122 599800 4609219 606 -60 150
25RESRC081 Reservatório RC 133 599799 4609221 606 -90 0
25RESRC082 Reservatório RC 147 599801 4609224 606 -70 330
25RESRC083 Reservatório RC 107 599852 4609221 600 -60 150
25RESRC084 Reservatório RC 111 599852 4609222 600 -90 0
25GRADD048 Grandão DD 128.25 601650 4607783 567 -50 190
25GRADD049 Grandão DD 120.7 601516 4607909 507 -50 230
25GRARC134 Grandão RC 30 601928 4607805 578 -90 0
25GRARC135 Grandão RC 50 601889 4607672 587 -90 0
25GRARC136 Grandão RC 40 601884 4607651 595 -90 0
25GRARC137 Grandão RC 80 601772 4607635 606 -90 0
25GRARC138 Grandão RC 80 601776 4607634 606 -60 90
25GRARC139 Grandão RC 84 601803 4607696 577 -90 0
25GRARC140 Grandão RCDD 28.6 601817 4607719 562 -90 0
25GRARC141 Grandão RC 90 601787 4607763 551 -72 90
25GRARC142 Grandão RCDD 49 601734 4607675 596 -60 90
Hole ID Prospect Hole Type Tot Depth (m) Easting Northing RL Dip Azimuth
25GRARC143 Grandão RCDD 50 601732 4607675 597 -90 0
25GRARC144 Grandão RC 170 601730 4607716 582 -70 90
25GRARC145 Grandão RC 142 601729 4607716 582 -90 0
25GRARC146 Grandão RCDD 122.25 601634 4608025 504 -60 120
25GRARC147 Grandão RC 141 601742 4608055 539 -65 45
25PNRDD009 Pinheiro DD 84.85 601594 4606830 580 -60 270
25PNRDD010 Pinheiro DD 110.35 601590 4606831 584 -57 215
25PNRDD011 Pinheiro DD 120.75 601583 4606909 575 -50 263
25PNRDD012 Pinheiro DD 101.2 601579 4606910 575 -50 63
25PNRDD013 Pinheiro DD 124.9 601399 4606803 538 -60 90
25PNRDD014 Pinheiro DD 111.8 601414 4606856 561 -50 185
25PNRDD015 Pinheiro DD 126.8 601598 4607011 583 -50 310
25PNRDD016 Pinheiro DD 108.3 601399 4606802 538 -50 110
25PNRDD017 Pinheiro DD 100.1 601599 4607011 583 -62 310
25PNRDD018 Pinheiro DD 179.55 601637 4606994 572 -55 230
25PNRRC026 Pinheiro RCDD 120 601607 4606920 573 -70 270
25PNRRC027 Pinheiro RC 100 601578 4606879 581 -90 0
25PNRRC028 Pinheiro RCDD 94.3 601577 4606879 581 -80 270
25PNRRC029 Pinheiro RC 70 601575 4606878 581 -60 270
25PNRRC030 Pinheiro RC 70 601430 4606800 554 -60 90
25PNRRC031 Pinheiro RCDD 128.55 601599 4607010 583 -60 245
25PNRRC032 Pinheiro RC 100 601639 4607036 584 -60 270
25PNRRC033 Pinheiro RCDD 131.5 601636 4606995 573 -60 270
25PNRRC034 Pinheiro RC 85 601664 4607061 591 -60 270
25PNRRC035 Pinheiro RC 110 601589 4606977 572 -60 270
25RESRC046 Reservatório RCDD 184.8 599583 4609279 639 -80 150
25RESRC047 Reservatório RCDD 178.7 599585 4609275 639 -65 150
25RESRC048 Reservatório RCDD 186.5 599498 4609187 641 -90 0
25RESRC049 Reservatório RCDD 174 599500 4609184 641 -70 150
25RESRC050 Reservatório RCDD 140.1 599520 4609147 631 -63 150
25RESRC051 Reservatório RCDD 160.4 599618 4609287 620 -80 150
25RESRC052 Reservatório RCDD 158.8 599620 4609285 619 -70 150
25RESRC053 Reservatório RC 111 599695 4609242 613 -90 0
25RESRC054 Reservatório RCDD 150.4 599656 4609309 604 -90 0
25RESRC055 Reservatório RCDD 105 599657 4609306 604 -70 150
25RESRC056 Reservatório RCDD 88 599913 4609253 577 -80 0
25RESRC057 Reservatório RC 88 599915 4609247 577 -60 140
25RESRC058 Reservatório RCDD 96 599710 4609302 593 -80 150
25RESRC059 Reservatório RC 100 599950 4609211 586 -60 150
25RESRC060 Reservatório RC 147 599712 4609299 593 -60 150
25RESRC061 Reservatório RC 120 599783 4609267 588 -70 310
25RESRC062 Reservatório RC 120 599784 4609266 588 -90 0
25RESRC063 Reservatório RC 67 599934 4609230 581 -60 150
Hole ID Prospect Hole Type Tot Depth (m) Easting Northing RL Dip Azimuth
25RESRC064 Reservatório RC 55 599970 4609238 575 -60 150
25RESRC065 Reservatório RC 140 599503 4609102 617 -60 150
25RESRC066 Reservatório RC 70 599970 4609241 575 -80 0
25RESRC067 Reservatório RCDD 160.8 599481 4609136 628 -65 150
25RESRC068 Reservatório RC 94 599968 4609241 575 -60 340
25RESRC069 Reservatório RC 91 599901 4609215 594 -60 150
25RESRC070 Reservatório RC 100 599888 4609236 589 -60 150
25RESRC071 Reservatório RCDD 143 599480 4609138 628 -75 150
25RESRC072 Reservatório RC 85 599889 4609238 589 -90 0
25RESRC073 Reservatório RCDD 177.25 599479 4609139 628 -85 150
25RESRC074 Reservatório RC 90 599586 4609050 607 -60 150
25RESRC075 Reservatório RCDD 85 599863 4609275 579 -70 150
25RESRC076 Reservatório RC 100 599568 4609080 614 -60 150
25RESRC077 Reservatório RC 105 599566 4609082 614 -80 150
25RESRC078 Reservatório RCDD 91 599863 4609276 579 -90 0
25RESRC079 Reservatório RC 121 599733 4609259 603 -60 150
25RESRC080 Reservatório RC 122 599800 4609219 606 -60 150
25RESRC081 Reservatório RC 133 599799 4609221 606 -90 0
25RESRC082 Reservatório RC 147 599801 4609224 606 -70 330
25RESRC083 Reservatório RC 107 599852 4609221 600 -60 150
25RESRC084 Reservatório RC 111 599852 4609222 600 -90 0
APPENDIX 2 - Summary of Significant Intercepts from the diamond drilling using a 0.5% Li(2)O Cutoff.
Hole ID Prospect From To Width Li20
25GRARC137 Grandão 50 53 3 1.42
25GRARC138 Grandão No significant results
25GRARC139 Grandão 10 13 3 0.7
and Grandão 19 26 7 0.82
and Grandão 55 57 2 1.51
and Grandão 61 64 3 1.04
25GRARC140 Grandão 3 16 13 1.14
25GRARC141 Grandão 15 23 8 1.27
and Grandão 31 34 3 0.62
and Grandão 47 59 12 0.99
and Grandão 68 71 3 0.87
25PNRDD011 Pinheiro 32 34 2 1.29
and Pinheiro 40 42 2 1.19
and Pinheiro 44.62 65.38 20.76 1.48
25PNRDD013 Pinheiro 65.96 97 31.04 1.46
25PNRRC031 Pinheiro 8 10 2 1.2
and Pinheiro 16 20 4 1.64
and Pinheiro 91 97.8 6.8 1.19
25PNRRC032 Pinheiro 7 18 11 0.98
25RESRC047** Reservatório 169.27 172 2.73 1.06
25RESRC048 Reservatório 136.94 155 18.06 0.82
and Reservatório 159 172 13 1.01
25RESRC049 Reservatório 129.85 160 30.15 1.15
25RESRC050 Reservatório 100 127 27 1.25
25RESRC051 Reservatório 111 120.36 9.36 0.81
and Reservatório 127 129 2 0.97
and Reservatório 134 139 5 0.82
and Reservatório 148 153 5 0.91
25RESRC055 Reservatório Waiting for diamond tail
25RESRC056* Reservatório 77 84 7 0.98
25RESRC057 Reservatório No significant results
25RESRC058* Reservatório 64 86 22 1.51
25RESRC059 Reservatório 20 25 5 1.25
25RESRC060 Reservatório 65 87 22 1.35
and Reservatório 91 94 3 0.68
and Reservatório 102 104 2 0.97
and Reservatório 110 118 8 0.89
25RESRC064 Reservatório 25 47 22 1.56
25RESRC065 Reservatório 105 118 13 1.11
and Reservatório 122 128 6 1.08
*Significant results from RC hole, diamond tail to follow
** From completed diamond tail
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 PQ/HQ single tube core
whether core is oriented and if so, by what method, etc). barrels.
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 150 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, as close
possible structures and the extent to which this is known, considering the to perpendicular to strike as possible. All Geotech holes were drilled in
deposit type. various orientations to intersect planned pit walls. According to the expert
(GGC - Consultants) requirements.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
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.
· The entire Phase 2 includes a total of 117 drill holes. The
surface access was granted by an administrative easement right defined in the
C-100 mining contract, 95 of the drill holes were included in a first easement
process, and the remaining 22 were subject to second easement that is still in
progress.
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. The pegmatites
occur within the license area as discrete bodies and currently four pegmatite
bodies have a resource defined on them. The pegmatites vary in orientation
from large shallow dipping bodies, such as the north - south striking Grandão
and the east - west trending Reservatório to steeply dipping dyke like bodies
seen at NOA and Pinheiro.
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 perpendicular relation to the pegmatite
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported, there
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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