REG - Savannah Resources - Final Assays for Updated Resource Estimates
21/08/2025 07:00
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RNS Number : 2382W Savannah Resources PLC 21 August 2025
21 August 2025
Savannah Resources Plc
(AIM: SAV) ('Savannah', or the 'Company')
Final batch of assays for updated resource estimates return more positive
results
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 fourth batch of assay results from Phase 2 of its Definitive
Feasibility Study ('DFS') drilling programme at the Project. These assays are
the final batch from the resource-focused part of the campaign which Savannah
successfully completed ahead of schedule in July, and which included drilling
on land which Savannah accessed under a temporary land easement provided by
the Portuguese Government.
With all assay data now entered in the Project's geological model, Savannah
and its independent consultants can complete work on a new JORC (2012)
compliant Resource estimate for the Project, which the Company expects to
publish in September. Based on the design of the completed drilling and the
assay results recorded, Savannah expects the new resource will represent both
an upgrade and expansion on the Project's current resource of 28Mt at 1.05%
Li(2)O of which c.66% of the ore and contained Li(2)O are classified in the
higher Measured and Indicated JORC categories. This new estimate will form the
basis for the Project's maiden JORC Reserve estimate which will underpin the
DFS mine plan and support the future financing of the Project (See the Further
Information section for background on the JORC Code classification system).
Highlights
· The resource-focused stage of the Phase 2 drill programme for the DFS
is now complete. The programme was designed to upgrade more of the existing
JORC Resources at the Pinheiro, Reservatório and Grandão deposits to the
higher confidence JORC Resource categories (Measured & Indicated) ahead of
the maiden JORC Reserve estimate for the Project.
· A total of 103 holes have been drilled to date for c. 12,490m,
consisting of 83 Reverse Circulation (RC) holes, including 28 completed with
diamond drill tails, and a further 20 additional diamond drill holes.
· This fourth batch of assays comes from the last 23 holes drilled (9
at Pinheiro, 8 at Reservatório and 6 at Grandão) and contains further
significant lithium assays which build on the impressive results previously
reported from the first three batches. As a result of the assays recorded in
the programme, tonnage increases are likely at the Reservatório and Pinheiro
orebodies amongst the wider upgrade of the existing resource.
· At Pinheiro, we continue to intersect high grade lithium mineralisation
within a core zone of the Western Pegmatite, while results from the Eastern
Pegmatite further extend the mineralisation to the north. New intersections
include:
o 67m @1.82% Li(2)O from 56m in hole 25PNRDD021
o 32m @1.66% Li(2)O from 27m in hole 25PNRRC036
o 24m @1.4% Li(2)O from 111m in hole 25PNRRC039
o 28m @1.13% Li(2)O from 32m in hole 25PNRRC040
o 23.8m @1.1% Li(2)O from 148.2m in hole 25PNRDD018
· At Reservatório, results continue to show the continuity of
mineralisation at depth beyond the current limits of the designed open pit,
highlighting future potential especially to the northeast. Better
intersections include:
o 32m @1.49% Li(2)O from 67m in hole 25RESRC087
o 25m @1.11% Li(2)O from 75m in hole 25RESRC088
o 23.31m @1.29% Li(2)O from 64m in hole 25RESRC086 and 11.74m @1.24% Li(2)O
from 106.74m
o 23m @1.11% Li(2)O from 133m in hole 25RESRC073
o 14m @1.17% Li(2)O from 81m in hole 25RESRC085 and 9m @1.01% Li(2)O from
109m
· The drilling at Grandão was designed to infill previous drilling and
confirms strong continuity in the mineralisation between holes, which the
Company believe is indicative of the deposit as a whole. Latest results
include:
o 19m @1.29% Li(2)O from 92m in hole 25GRARC153 and 13.8m @1.41% Li(2)O from
139.2m
o 17.68m @1.42% Li(2)O from 104.05m in hole 25GRARC152 and 12.64m @1.12%
Li(2)O from 140.36m and 9m @1.53% Li(2)O from 156m
o 4m @1.07% Li(2)O from 111m in hole 25GRARC149 and 9m @1.53% Li(2)O from
123m
· New JORC (2012) compliant Exploration Targets: In addition to the new
resource estimates, updated Exploration Targets as defined under the JORC Code
('Exploration Targets') will be produced for all the orebodies at the Project
as well as a first Exploration Target for the remainder of the C-100 Mining
Lease.
Savannah's Technical Director, Dale Ferguson said, "We are particularly
encouraged by this latest batch of results which continue to confirm the grade
and consistency of the lithium mineralisation in all the deposits. We now turn
our attention to updating the JORC Resource estimates for these important
orebodies and the existing additional Exploration Targets for the Grandão,
Reservatório and Aldeia deposits. To this we will be adding maiden
Exploration Target estimates for Pinheiro and NOA as well as a first regional
Exploration Target to help show the true potential of the Project area.
"As previously flagged, based on the assays we've received from this drilling
campaign, we continue to expect growth in the JORC Resources of Pinheiro and
Reservatório and the team and I are looking forward to presenting all the new
estimates once finalised. While the updated JORC Resources will enable us to
push forward with the DFS with confidence, the additional Exploration Targets,
including the new regional Exploration Target we are planning, should
reinforce the market's understanding that this Project has great long-term
potential too."
Further Information
Savannah has now completed the resource-focused stage of the Phase 2 drilling,
with all assay results from the sampling now received. The drilling campaign
was designed to ensure that all resources which potentially fall into the
initial mine plan can be classified to at least the JORC Indicated level of
confidence as this will allow their conversion into JORC Reserves for the DFS.
The drilling was carried out with up to six rigs on site at various times,
consisting of 3 RC rigs and 3 diamond drill rigs. A total of 12,490m was
drilled over 103 holes which consisted of 83 RC holes, with 28 of them having
diamond tails completed to achieve the target depth, and a further 20 diamond
drill holes, of which 11 were for geotechnical purposes.
All holes have been logged and recorded in the Company's database and the next
stage is the calculation of the upgraded resources, which is expected to be
completed in the coming weeks. The results of the drilling have cemented our
confidence in the continuity of the lithium mineralisation within all of the
orebodies and the programme has again highlighted the region as a world class
lithium province with many known outcropping pegmatites remaining unexplored
within Savannah's licence area.
All of the deposits show continuing lithium mineralisation at depth beyond the
limits of the proposed mining pits defined in the 2023 Scoping Study, which
indicates further potential for the future. Furthermore, at Pinheiro three
main pegmatite bodies are now recognised with further potential to increase
mineralisation along strike in two of them and at Reservatório the northeast
extension of the pegmatite remains open and will be followed up with further
drilling at a later stage. Grandão is Savannah's largest deposit and is
relatively well constrained from previous drilling. Hence, the recent
programme was designed to infill areas where the drilling was not at the
required density to be able to estimate the JORC Resources to an Indicated
level of confidence. Meanwhile, at Reservatório the drilling focused on the
down dip extension of the pegmatite to confirm the continuity of
mineralisation and to test the extent of the pegmatite in an area beyond the
C-100 boundary, where Savannah has an application pending for an extension of
the licence.
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. Savannah is confident that this latest
phase of drilling is likely to significantly increase the size and grade of
the resource by outlining mineralised extensions of the Western Pegmatite to
the south, and northern extensions to the Eastern Pegmatite. The Company
expects that an increase in grade is also likely.
The highlight of the recent results has been a 67m intersection of mineralised
pegmatite grading at 1.82% Li(2)O from hole 25PNRDD021, which was targeted to
sit beneath the Scoping Study pit outline and was drilled slightly obliquely
to the dip of the pegmatite (see Figures 2 and 3). The better recent results
at Pinheiro are as follows:
o 67m @1.82% Li(2)O from 56m in hole 25PNRDD021
o 32m @1.66% Li(2)O from 27m in hole 25PNRRC036
o 24m @1.4% Li(2)O from 111m in hole 25PNRRC039
o 28m @1.13% Li(2)O from 32m in hole 25PNRRC040
o 23.8m @1.1% Li(2)O from 148.2m in hole 25PNRDD018
Figure 2. Location of Phase 2 drilling at Pinheiro with recent and selected
significant intercepts to date.
Figure 3. Cross section through the Eastern and Western Pegmatites of the
Pinheiro deposit (Section A-A').
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.
The current batch of results received for Reservatório further highlighted
the continuation of lithium mineralisation at depth especially extending into
the area where Savannah currently has an application to expand the C-100
Mining Licence boundary. The latest intersections outline the more complex
morphology of the pegmatite body than was originally interpreted and
indications are that the dip of the pegmatite is becoming shallower at depth,
increasing its minable potential.
The recent batch of assays continue to highlight the strong consistency of the
lithium mineralisation within the pegmatite at Reservatório and give a better
understanding of the grade variations that are inherent in pegmatites due to
textural and mineralogical changes.
Significant mineralised intersections from this batch of assays at
Reservatório include:
o 32m @1.49% Li(2)O from 67m in hole 25RESRC087
o 25m @1.11% Li(2)O from 75m in hole 25RESRC088
o 23.31m @1.29% Li(2)O from 64m in hole 25RESRC086 and 11.74m @1.24% Li(2)O
from 106.74m
o 23m @1.11% Li(2)O from 133m in hole 25RESRC073
o 14m @1.17% Li(2)O from 81m in hole 25RESRC085 and 9m @1.01% Li(2)O from
109m
Figure 4. Location of Phase 2 drilling at Reservatório with significant
intercepts from assays results.
Figure 5. Cross section through the 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.
At Grandão the infill drilling of areas of the resource is complete, enabling
Savannah to upgrade the JORC category in the potentially mineable portion of
the pegmatite to a minimum Indicated level. The drilling of the southern
extent of the pegmatite was also completed.
The results confirmed the excellent robustness of the lithium mineralisation
at depth, especially in the western portion of the deposit, with grades seen
to increase with depth. Pleasingly, the drilling also highlighted the
occurrence of a smaller parallel pegmatite beneath the main orebody.
Significant mineralised intersections at Grandão in this set of assays
include:
o 19m @1.29% Li(2)O from 92m in hole 25GRARC153 and 13.8m @1.41% Li(2)O from
139.2m.
o 17.68m @1.42% Li(2)O from 104.05m in hole 25GRARC152 and 12.64m @1.12%
Li(2)O from 140.36m and 9m @1.53% Li(2)O from 156m.
o 4m @1.07% Li(2)O from 111m in hole 25GRARC149 and 9m @1.53% Li(2)O from
123m.
Figure 6. Location of Phase 2 drilling at Grandão with significant intercepts
from assays results.
Figure 7. Cross section through the Grandão deposit (Section A - A')
Sample collection for metallurgical testwork
In conjunction with resource drilling, diamond drilling for metallurgical
samples was also carried out and in conjunction with Savannah's metallurgical
consultants, specific samples have been selected and sent for metallurgical
testing.
Next steps
The resource-focused stage of the Phase 2 drilling is now complete and the
results from this will feed into upgrading the confidence level of the
existing JORC resource estimates for each deposit and potentially increasing
the overall resource tonnage at certain deposits. Updated or maiden
Exploration Targets will also be produced in the coming weeks for each deposit
as well as a first regional Exploration Target for the remainder of the C-100
Mining Licence.
Away from the resource-related work, metallurgical testwork will be conducted
on the samples sent to our consultants and the resulting data used in the DFS,
while the geotechnical data collected from each deposit will aid in the design
of the various mining pits to ensure maximum extraction of ore under safe and
sustainable conditions.
Background on the JORC Code
The Australasian Code for Reporting of Exploration Results, Mineral Resources
and Ore Reserves ('the JORC Code') is a professional code of practice that
sets minimum standards for Public Reporting of minerals Exploration Results,
Mineral Resources and Ore Reserves.
The JORC Code provides a mandatory system for the classification of minerals
Exploration Results, Mineral Resources and Ore Reserves according to the
levels of confidence in geological knowledge and technical and economic
considerations in Public Reports.
Public Reports prepared in accordance with the JORC Code are reports prepared
for the purpose of informing investors or potential investors and their
advisors.
The JORC Code was first published in 1989, with the most recent revision being
published late in 2012.
JORC Code Definitions
Category Definition
Exploration Target A statement or estimate of the exploration potential of a mineral deposit
in a defined geological setting where the statement or estimate, quoted as a
range of tonnes and a range of grade (or quality), relates to mineralisation
for which there has been insufficient exploration to estimate a Mineral
Resource.
Mineral Resource A concentration or occurrence of solid material of economic interest in or on
the Earth's crust in such form, grade (or quality), and quantity that there
are reasonable prospects for eventual economic extraction. The location,
quantity, grade (or quality), continuity and other geological characteristics
of a Mineral Resource are known, estimated or interpreted from specific
geological evidence and knowledge, including sampling. Mineral Resources are
sub-divided, in order of increasing geological confidence, into Inferred,
Indicated and Measured categories.
Inferred Mineral Resource That part of a Mineral Resource for which quantity and grade (or quality) are
estimated on the basis of limited geological evidence and sampling. Geological
evidence is sufficient to imply but not verify geological and grade (or
quality) continuity. It is based on exploration, sampling and testing
information gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings and drill holes. An Inferred Mineral
Resource must not be converted to an Ore Reserve. It is reasonably expected
that the majority of Inferred Mineral Resources could be upgraded to Indicated
Mineral Resources with continued exploration.
Indicated Mineral Resource That part of a Mineral Resource for which quantity, grade (or quality),
densities, shape and physical characteristics are estimated with sufficient
confidence to allow the application of Modifying Factors in sufficient detail
to support mine planning and evaluation of the economic viability of the
deposit. Geological evidence is derived from adequately detailed and reliable
exploration, sampling and testing gathered through appropriate techniques from
locations such as outcrops, trenches, pits, workings and drill holes, and is
sufficient to assume geological and grade (or quality) continuity between
points of observation where data and samples are gathered. An Indicated
Mineral Resource has a lower level of confidence than that applying to a
Measured. Mineral Resource and may only be converted to a Probable Ore
Reserve.
Measured Mineral Resource that part of a Mineral Resource for which quantity, grade (or quality),
densities, shape, and physical characteristics are estimated with confidence
sufficient to
allow the application of Modifying Factors to support detailed mine planning
and final evaluation of the economic viability of the deposit. Geological
evidence is derived from detailed and reliable exploration, sampling and
testing gathered through appropriate techniques from locations such as
outcrops, trenches, pits, workings and drill holes, and is sufficient to
confirm geological and grade (or quality) continuity between points of
observation where data and samples are gathered. A Measured Mineral Resource
has a higher level of confidence than that applying to either an Indicated
Mineral Resource or an Inferred Mineral Resource. It may be converted to a
Proved Ore Reserve or under certain circumstances to a Probable Ore Reserve.
Ore Reserve Is the economically mineable part of a Measured and/or Indicated Mineral
Resource. It includes diluting materials and allowances for losses, which may
occur when the material is mined or extracted and is defined by studies at
Pre-Feasibility or Feasibility level as appropriate that include application
of Modifying Factors. Such studies demonstrate that, at the time of reporting,
extraction could reasonably be justified. The reference point at which
Reserves are defined, usually the point where the ore is delivered to the
processing plant, must be stated. It is important that, in all situations
where the reference point is different, such as for a saleable product, a
clarifying statement is included to ensure that the reader is fully informed
as to what is being reported.
Figure 8. The JORC Classification Framework
Source: JORC Code
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
(https://www.savannahresources.com/) .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)
Media Relations
Savannah Resources: 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 568 -50 189
25GRADD049 Grandão DD 120.7 601517 4607910 507 -50 229
25GRADD050 Grandão DD 165.8 601547 4608217 536 -90 0
25GRADD051 Grandão DD 167.3 601553 4608216 536 -60 184
25GRADD052 Grandão DD 210.75 601538 4608003 519 -50 309
25GRARC134 Grandão RC 30 601928 4607806 578 -90 0
25GRARC135 Grandão RC 50 601890 4607673 587 -90 0
25GRARC136 Grandão RC 40 601884 4607652 595 -90 0
25GRARC137 Grandão RC 80 601773 4607636 607 -90 0
25GRARC138 Grandão RC 80 601776 4607634 607 -60 89
25GRARC139 Grandão RC 84 601804 4607696 577 -90 0
25GRARC140 Grandão RCDD 70.75 601817 4607719 562 -90 0
25GRARC141 Grandão RC 90 601787 4607764 551 -72 89
25GRARC142 Grandão RCDD 110.5 601735 4607676 597 -60 89
25GRARC143 Grandão RCDD 146.55 601733 4607676 597 -90 0
25GRARC144 Grandão RC 170 601731 4607717 582 -70 89
25GRARC145 Grandão RC 142 601729 4607717 583 -90 0
25GRARC146 Grandão RCDD 122.25 601635 4608025 505 -60 119
25GRARC147 Grandão RC 141 601742 4608055 540 -65 44
25GRARC148 Grandão* RC 160 601621 4607797 569 -75 89
25GRARC149 Grandão* RC 170 601619 4607797 569 -90 0
25GRARC150 Grandão* RC 152 601657 4607760 575 -90 0
25GRARC151 Grandão* RC 93 601759 4607779 550 -60 89
25GRARC152 Grandão* RCDD 175.75 601513 4607988 503 -80 219
25GRARC153 Grandão* RCDD 161.2 601514 4607984 503 -70 139
25PNRDD009 Pinheiro DD 84.85 601595 4606830 581 -60 269
25PNRDD010 Pinheiro DD 110.35 601590 4606831 584 -57 214
25PNRDD011 Pinheiro DD 120.75 601583 4606910 576 -50 262
25PNRDD012 Pinheiro DD 101.2 601580 4606910 576 -50 62
25PNRDD013 Pinheiro DD 124.9 601399 4606803 539 -60 89
25PNRDD014 Pinheiro DD 111.8 601415 4606856 561 -50 184
25PNRDD015 Pinheiro DD 126.8 601598 4607012 584 -50 309
25PNRDD016 Pinheiro DD 108.3 601400 4606802 539 -50 109
25PNRDD017 Pinheiro* DD 100.1 601599 4607011 583 -62 309
25PNRDD018 Pinheiro* DD 179.55 601638 4606995 573 -55 229
25PNRDD019 Pinheiro DD 140.19 601608 4606921 573 -50 294
25PNRDD020 Pinheiro DD 85.85 601581 4606910 575 -50 329
25PNRDD021 Pinheiro* DD 152.5 601350 4606883 537 -75 89
25PNRRC026 Pinheiro RCDD 120 601608 4606921 573 -70 269
25PNRRC027 Pinheiro RC 100 601579 4606880 582 -90 0
25PNRRC028 Pinheiro RCDD 94.3 601577 4606879 582 -80 269
25PNRRC029 Pinheiro RC 70 601575 4606878 582 -60 269
25PNRRC030 Pinheiro RC 70 601431 4606801 554 -60 89
25PNRRC031 Pinheiro RCDD 128.55 601600 4607010 583 -60 244
25PNRRC032 Pinheiro RC 100 601639 4607037 584 -60 269
25PNRRC033 Pinheiro RCDD 131.5 601637 4606996 573 -60 269
25PNRRC034 Pinheiro RC 85 601665 4607062 591 -60 269
25PNRRC035 Pinheiro RC 110 601590 4606977 572 -60 269
25PNRRC036 Pinheiro* RC 100 601371 4606845 546 -60 49
25PNRRC037 Pinheiro* RC 151 601428 4606901 545 -60 134
25PNRRC038 Pinheiro* RCDD 155.5 601592 4606976 572 -70 269
25PNRRC039 Pinheiro* RCDD 143.35 601600 4606972 572 -64 219
25PNRRC040 Pinheiro* RC 70 601343 4606919 540 -65 79
25PNRRC041 Pinheiro* RC 80 601332 4606963 553 -70 89
25PNRRC042 Pinheiro* RC 158 601364 4606841 544 -70 89
25RESDD015 Reservatório DD 150.8 599508 4609103 618 -50 221
25RESDD016 Reservatório DD 90.8 599869 4609271 577 -50 349
25RESRC046 Reservatório RCDD 184.8 599584 4609279 639 -80 149
25RESRC047 Reservatório RCDD 178.7 599586 4609276 639 -65 149
25RESRC048 Reservatório RCDD 186.5 599499 4609187 642 -90 0
25RESRC049 Reservatório RCDD 174 599501 4609184 642 -70 149
25RESRC050 Reservatório RCDD 140.1 599520 4609147 631 -63 149
25RESRC051 Reservatório RCDD 160.4 599618 4609288 621 -80 149
25RESRC052 Reservatório RCDD 158.8 599620 4609286 620 -70 149
25RESRC053 Reservatório RC 111 599695 4609243 614 -90 0
25RESRC054 Reservatório RCDD 150.4 599656 4609310 604 -90 0
25RESRC055 Reservatório RCDD 145.1 599658 4609307 604 -70 149
25RESRC056 Reservatório RCDD 136.25 599914 4609253 577 -80 359
25RESRC057 Reservatório RC 88 599916 4609248 577 -60 139
25RESRC058 Reservatório RC 96 599710 4609302 594 -80 149
25RESRC059 Reservatório RC 100 599951 4609212 586 -60 149
25RESRC060 Reservatório RC 147 599713 4609299 593 -60 149
25RESRC061 Reservatório RC 120 599784 4609267 588 -70 309
25RESRC062 Reservatório RC 120 599784 4609267 588 -90 0
25RESRC063 Reservatório RC 67 599935 4609231 581 -60 149
25RESRC064 Reservatório RC 55 599970 4609239 576 -60 149
25RESRC065 Reservatório RC 140 599504 4609102 618 -60 149
25RESRC066 Reservatório RC 70 599970 4609242 576 -80 359
25RESRC067 Reservatório RCDD 160.8 599481 4609137 628 -65 149
25RESRC068 Reservatório RC 94 599968 4609242 576 -60 339
25RESRC069 Reservatório RC 91 599902 4609215 594 -60 149
25RESRC070 Reservatório RC 100 599889 4609236 589 -60 149
25RESRC071 Reservatório* RCDD 164.1 599480 4609138 628 -75 149
25RESRC072 Reservatório RC 85 599889 4609238 589 -90 0
25RESRC073 Reservatório* RCDD 177.25 599480 4609140 628 -85 149
25RESRC074 Reservatório RC 90 599587 4609050 608 -60 149
25RESRC075 Reservatório RCDD 93.9 599864 4609275 577 -70 149
25RESRC076 Reservatório RC 100 599568 4609080 614 -60 149
25RESRC077 Reservatório RC 105 599566 4609082 614 -80 149
25RESRC078 Reservatório RCDD 111.8 599864 4609276 577 -90 0
25RESRC079 Reservatório RC 121 599734 4609259 603 -60 149
25RESRC080 Reservatório RC 122 599800 4609220 607 -60 149
25RESRC081 Reservatório RC 133 599799 4609221 607 -90 0
25RESRC082 Reservatório RC 147 599801 4609224 607 -70 329
25RESRC083 Reservatório RC 107 599853 4609221 600 -60 149
25RESRC084 Reservatório RC 111 599852 4609222 600 -90 0
25RESRC085 Reservatório RC 160 599710 4609308 594 -80 329
25RESRC086 Reservatório* RCDD 136.9 599713 4609301 594 -80 149
25RESRC087 Reservatório* RC 109 599828 4609265 585 -60 149
25RESRC088 Reservatório* RC 116 599827 4609267 585 -80 149
25RESRC089 Reservatório* RC 120 599825 4609271 585 -75 329
25RESRC090 Reservatório* RC 153 599824 4609273 585 -60 329
25RESRC091 Reservatório* RC 135 599861 4609279 577 -70 329
APPENDIX 2 - Summary of Significant Intercepts from the diamond drilling using a 0.5% Li(2)O Cutoff.
HoleID Prospect From To Width Li2O
25GRARC148 Grandão 96 98 2 0.69
and Grandão 101 110 9 0.87
and Grandão 120 126 6 1.39
and Grandão 131 135 4 1.1
25GRARC149 Grandão 111 115 4 1.07
and Grandão 123 132 9 1.53
25GRARC150 Grandão 89 93 4 1.17
and Grandão 98 106 8 0.87
25GRARC151 Grandão 29 36 7 0.9
and Grandão 40 45 5 0.9
and Grandão 59 70 11 1.17
and Grandão 74 78 4 1.02
25GRARC152 Grandão 6 8 2 1.06
and Grandão 104.05 121.73 17.68 1.42
and Grandão 126.46 127.86 1.4 1.51
and Grandão 140.36 153 12.64 1.12
and Grandão 156 165 9 1.53
25GRARC153 Grandão 2 4 2 0.8
and Grandão 92 111 19 1.29
and Grandão 139.2 153 13.8 1.41
25PNRDD017 Pinheiro 11.75 18.85 7.1 0.84
and Pinheiro 21.88 27.32 5.44 0.69
and Pinheiro 32.73 40 7.27 1.38
and Pinheiro 46.67 48.31 1.64 1.01
and Pinheiro 54.33 57.33 3 0.67
25PNRDD018 Pinheiro 148.2 172 23.8 1.1
25PNRDD021 Pinheiro 56 123 67 1.82
25PNRRC036 Pinheiro 27 59 32 1.66
and Pinheiro 63 65 2 0.65
25PNRRC037 Pinheiro 15 18 3 0.8
25PNRRC038 Pinheiro 138 145.14 7.14 1.29
25PNRRC039 Pinheiro 111 135 24 1.4
25PNRRC040 Pinheiro 32 60 28 1.13
25PNRRC041 Pinheiro No Significant Assays
25PNRRC042 Pinheiro 81 84 3 0.83
and Pinheiro 96 98 2 0.81
and Pinheiro 107 113 6 0.88
and Pinheiro 126 132 6 1.26
and Pinheiro 135 137 2 0.82
and Pinheiro 140 142 2 0.73
25RESRC071* Reservatório 141 148 7 0.71
and Reservatório 154 162 8 1.15
25RESRC073* Reservatório 133 156 23 1.11
and Reservatório 162.5 167.7 5.2 0.77
25RESRC085 Reservatório 72 76 4 0.7
and Reservatório 81 95 14 1.17
and Reservatório 109 118 9 1.01
and Reservatório 126 136 10 0.95
and Reservatório 150 152 2 1.02
25RESRC086 Reservatório 64 87.31 23.31 1.29
and Reservatório 106.74 118.48 11.74 1.24
25RESRC087 Reservatório 67 99 32 1.49
25RESRC088 Reservatório 75 100 25 1.11
25RESRC089 Reservatório No Significant Assays
25RESRC090 Reservatório 107 114 7 0.89
25RESRC091 Reservatório 87 99 12 1.24
and Reservatório 102 112 10 0.78
* Results 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 drill programme was carried out over land that was
granted by an administrative easement right defined in the C-100 mining
contract. The easement covered private and public land that was within the
C-100 license area.
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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