REG - Savannah Resources - Phase 1 Resource Drilling Completed
26/02/2024 08:15
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RNS Number : 4292E Savannah Resources PLC 26 February 2024
26 February 2024
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')
Barroso Lithium Project: Phase 1 Resource Drilling Completed
Savannah Resources Plc, the developer of the Barroso Lithium Project (the
'Project') in Portugal, Europe's largest spodumene lithium deposit, is pleased
to announce the completion of the resource-related drilling in the first phase
of its current two-phase drilling programme. The first set of assays from
holes drilled at the NOA and Reservatorio orebodies have also been received
showing excellent grades and continuity of mineralisation. These results,
along with those still to be received, will be used to finalise plans for the
second phase of drilling and will be fed into new resource estimates for the
orebodies as part of the Project's ongoing Definitive Feasibility Study
('DFS').
Highlights:
· First phase of DFS-related resource drilling at the Project has been
completed. Phase 1 drilling for metallurgical and geotechnical purposes, will
be completed during March 2024
· The resource infill drilling programme was designed to upgrade
existing Indicated and Inferred resources at NOA, Reservatorio, Pinheiro and
Grandao to both Measured and Indicated categories so that it can be used to
define a maiden JORC (2012) compliant Reserve as part of the DFS study.
· In total 3188.5m were drilled across 39 Reverse Circulation ('RC')
holes (3 with diamond tails) and 3 diamond drill holes
· Results have now been received from 25 holes with the best assays
reported including:
o 41m @ 1.21% Li(2)O from 159m in 23RESRC038
o 40m @ 1.17% Li(2)O from 70m in 23RESRC045
o 11m @ 1.22% Li(2)O from 13m in 23NOARC040
o 13m @ 1.12% Li(2)O from 31m in 23NOARC041
o 8m @ 1.34% Li(2)O from 21m in 23NOARC036
· Initial results received from two holes at Reservatorio show the
lithium mineralised pegmatite continuing at depth and have returned 40m+
widths with excellent lithium mineralisation grades.
· Results received to date from the NOA deposit confirm the continuity
of the lithium mineralisation and have highlighted that the pegmatite
continues to the northwest on the Mining Lease area, beyond the current
envelope of the resource.
· Diamond tails drilled at Reservatorio to access deeper parts of the
pegmatite have returned notable pegmatite intersections, logging and sampling
of these is currently underway.
· Geotechnical diamond drilling has begun at NOA and Reservatorio, to
aid in finalising the mine designs.
· Geologia e Geotecnia Consultores Lda., a geological consulting firm
from Portugal, has been appointed to carry out the preliminary geotechnical
assessment.
Next steps:
· Further assay results will be released as they are received.
· Completion of phase 1 geotechnical and metallurgical drilling.
· Planning for the second phase of drilling to be completed once all
results are in hand.
The Company still expects to begin updating the JORC resource estimates on a
deposit-by-deposit basis later this quarter.
Savannah's Technical Director, Dale Ferguson said, "After some minor delays
caused by severe weather and technical issues with the equipment, the
resource-related drilling in the first phase of the current campaign is
complete. To date we have received assays from 25 of the 42 holes drilled
which have been largely consistent with previous orebody grades but did
include some notably higher-grade intercepts. The drilling has also confirmed
that mineralisation continues beyond the current resource envelopes at
Reservatorio and NOA.
"While the geotechnical and metallurgical drilling continues at the Project,
our job is to take the data from this first phase of resource drilling and to
produce new, upgraded, JORC resource estimates for the relevant orebodies. We
expect to produce the first of these before the end of the current quarter. We
will also use the first phase results, once all are received, to finalise our
planning for the second phase of the programme.
"Completion of the first phase of resource-related drilling and the subsequent
results represent genuine progress towards Savannah's target of completing the
Project's DFS later this year. We now look forward to publishing more assay
results and new resource estimates in the months ahead."
Savannah's CEO, Emanuel Proença added, "The technical team has performed
really well over the winter, ensuring that we make the progress needed to stay
on track with our schedule. The results are exciting, and they reinforce that
the largest spodumene resource in Europe continues to have potential to grow
significantly. We are one step closer to delivering this much awaited project,
which is so required for a thriving European EV battery value chain. We are
conscious of how important this project can be in helping to control the
geopolitical and raw material supply challenges which threatens the fulfilment
of the EU's energy transition strategy after 2026, and we will deliver."
Further Information
The first phase of infill resource drilling at the Barroso Lithium Project has
been completed with a total of 3188.5m drilled across 39 Reverse Circulation
('RC') holes (3 with diamond tails) and 3 diamond drill holes (Figure 1 and
Appendix 1). This Phase 1 programme has been designed to infill the drilling
primarily at Reservatorio, NOA, Pinheiro and Grandao to allow upgrades to the
existing JORC Inferred and Indicated resource into the Measured and Indicated
categories. This is a requirement for the Definitive Feasibility Study with
the upgraded resources set to provide the foundation for the Project's first
JORC Reserve estimate.
Figure 1. Barroso Lithium Project summary map showing deposits and drill hole
locations.
Assay results have been received for the 23 RC holes drilled at NOA that were
completed to confirm the continuity of the mineralisation of the pegmatite. At
Reservatorio 8 RC holes (3 with diamond tails) and 3 diamond holes have been
drilled with results back for two of the holes (Appendix 2).
Key lithium intersections returned to date include:
Reservatorio
· 41m @ 1.21% Li(2)O from 159m in 23RESRC038
· 40m @ 1.17% Li(2)O from 70m in 23RESRC045
NOA
· 8m @ 1.34% Li(2)O from 21m in 23NOARC036
· 7m @ 1.16% Li(2)O from 16m in 23NOARC037
· 11m @ 1.22% Li(2)O from 13m in 23NOARC040
· 13m @ 1.12% Li(2)O from 31m in 23NOARC041
· 9m @ 1.18% Li(2)O from 0m in 23NOARC044
The drilling at Reservatorio (Figures 2-4) targeted depth extensions of the
pegmatite as defined in the resource estimation to confirm continuation of the
lithium mineralisation, with significant intersection widths of 30 to 40m. The
indications are that the dip of the pegmatite is becoming shallower at depth,
which would offer a more attractive target for further drilling.
Figure 2. Location of Phase 1 drilling at Reservatorio with significant assays
& intercepts received to date.
Figure 3. Cross section 1 (A-A') of Reservatorio deposit.
Figure 4. Cross section 2 (B-B') of Reservatorio deposit.
At NOA, the drilling (Figures 5 and 6) has confirmed the continuity of
mineralisation and shown that it is still extending at depth and continues
along strike to the northwest on the Mining Lease area, which will be a target
for follow up at a later stage.
Figure 5. Location of Phase 1 resource infill drilling at NOA with significant
intercepts.
Figure 6. Cross section (C-C') of NOA deposit.
At Pinheiro, 6 RC holes were completed on the western pegmatite to infill the
previous drilling and to assess the northern continuation of the pegmatite.
The topography limited the location of drill pads meaning several of the holes
had to be drilled towards the west following the dip of the pegmatite and not
towards the east to intersect the mineralisation. Results are still pending
for this drilling.
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) and under the AIM Rules for Companies. 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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Follow Savannah Resources on LinkedIn
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
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 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.
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 Depth East (mE) North (mN) Elevation (mASL) Dip Azimuth
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
23RESRC038 Reservatorio RC 207 599510 4609249 655 -90 0
23RESRC039 Reservatorio RCDD 135 599511 4609246 655 -70 150
23RESRC040 Reservatorio RCDD 120 599557 4609245 649 -90 0
23RESRC041 Reservatorio RCDD 120 599559 4609241 649 -70 150
23RESRC042 Reservatorio RC 12 599650 4609094 594 -60 150
23RESRC043 Reservatorio RC 9 599687 4609109 591 -60 150
23RESRC044 Reservatorio RC 18 599618 4609011 599 -60 150
23RESRC045 Reservatorio RC 130 599679 4609231 619 -90 0
23RESDD009 Reservatorio DD 90.5 599764 4609176 611 -60 150
24RESDD010 Reservatorio DD 40 599688 4609110 590 -60 150
24RESDD011 Reservatorio DD 50 599617 4609016 599 -60 150
24RESDD012 Reservatorio DD 50 599661 4609070 590 -60 150
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 4606931 543 -55 290
24GRARC132 Grandao RC 90 601743 4608177 521 -90 0
24GRARC133 Grandao RC 39 601919 4607864 563 -90 0
APPENDIX 2 - Summary of Significant Intercepts from NOA and Reservatorio using a 0.5% Li(2)O Cutoff.
Hole_ID Prospect From (m) To (m) Interval (m) Grade
Li(2)O %
23NOARC026 NOA 64 71 7 1.31
and 94 97 3 0.78
23NOARC027 NOA No Significant Assays
23NOARC028 NOA No Significant Assays
23NOARC029 NOA 15 17 2 1
23NOARC029 NOA 32 36 4 1.25
23NOARC030 NOA 23 25 2 0.81
23NOARC031 NOA 12 17 5 0.98
23NOARC032 NOA 98 104 6 0.82
23NOARC033 NOA 7 11 4 1.22
23NOARC034 NOA 31 37 6 1.2
23NOARC035 NOA 30 36 6 1.38
23NOARC036 NOA 21 29 8 1.34
23NOARC037 NOA 16 23 7 1.16
23NOARC038 NOA No Significant Assays
23NOARC039 NOA No Significant Assays
23NOARC040 NOA 13 24 11 1.22
23NOARC041 NOA 31 44 13 1.12
23NOARC042 NOA 66 71 5 0.58
23NOARC043 NOA 105 107 2 1.58
and 114 117 3 1.24
23NOARC044 NOA 0 9 9 1.18
23NOARC045 NOA No Significant Assays
23NOARC046 NOA 10 16 6 1.36
23NOARC047 NOA 9 15 6 0.96
23NOARC048 NOA No Significant Assays
23RESRC038 Reservatorio 159 200 41 1.21
23RESRC045 Reservatorio 70 110 40 1.17
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 holes were reverse circulation, sampled at 1m
specific specialised industry standard measurement tools appropriate to the intervals. RC samples were collected in large plastic bags attached to the
minerals under investigation, such as down hole gamma sondes, or handheld XRF 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.
· A number of diamond holes were also completed as tails to the RC
· Include reference to measures taken to ensure sample representivity drilling where the target interval was too deep for the RC or in places where
and the appropriate calibration of any measurement tools or systems used. the rock was too weathered for the RC to proceed. Core was HQ size, sampled at
1m intervals in the pegmatite, with boundaries sampled to geological
· Aspects of the determination of mineralisation that are Material to boundaries. Half core samples were collected for analysis.
the Public Report. In cases where 'industry standard' work has been done this
would be relatively simple (e.g. 'reverse circulation drilling was used to · Drilling was carried out to infill previous drilling to achieve a
obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for nominal 40m by 40m spacing with selected infill to 40m by 20m spacings.
fire assay'). In other cases more explanation may be required, such as where
there is coarse gold that has inherent sampling problems. Unusual commodities · Collar surveys are carried using differential DGPS with an
or mineralisation types (e.g. submarine nodules) may warrant disclosure of accuracy to within 0.2m.
detailed information.
· 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 HQ double tube core
whether core is oriented and if so, by what method, etc). barrel.
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 in a logging yard.
Resource estimation, mining studies and metallurgical studies.
· Each 1m sample interval was carefully homogenised and assessed
· Whether logging is qualitative or quantitative in nature. Core (or for lithology, colour, grainsize, structure and mineralisation.
costean, channel, etc) photography.
· A representative chip sample produced from RC drilling was washed
· The total length and percentage of the relevant intersections logged. and taken for each 1m sample and stored in a chip tray which was photographed.
· 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.
· For all sample types, the nature, quality and appropriateness of the · The sampling was conducted using industry standard techniques and
sample preparation technique. were considered appropriate.
· Quality control procedures adopted for all sub-sampling stages to · Field duplicates were used to test repeatability of the
maximise representivity of samples. sub-sampling and were found to be satisfactory.
· Measures taken to ensure that the sampling is representative of the · Every effort was made to ensure that the samples were
in-situ material collected, including for instance results for field representative and not biased in any way.
duplicate/second-half sampling.
· 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 program 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 at NOA with
possible structures and the extent to which this is known, considering the an azimuth of 200° and generally dipping at -60° and intersected the
deposit type. moderately dipping deposit at close to orthogonal to the known dip of the main
pegmatite. At Reservatorio the holes were generally drilled at an azimuth of
· If the relationship between the drilling orientation and the 150° with a dip that varied from -60° to vertical.
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material. · Intersections were close to true width for the main pegmatite.
· No orientation-based sampling bias has been identified in the
data.
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 programs 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 approximately perpendicular to the orientation of the
mineralised trend.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · The geometry of the pegmatite at NOA is moderate dipping to the
northeast and some holes have drilled at a close angle to the mineralisation
· If it is not known and only the down hole lengths are reported, there 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 program 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. No immediate further work is planned unless directed.
· Diagrams clearly highlighting the areas of possible extensions,
including the main geological interpretations and future drilling areas, · Economic evaluation of the defined Mineral Resources.
provided this information is not commercially sensitive.
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