REG - Savannah Resources - Pinheiro Drilling Results Update
12/03/2024 07:15
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RNS Number : 4273G Savannah Resources PLC 12 March 2024
12 March 2024
Savannah Resources Plc
(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')
Broad High-Grade Zones of Lithium Mineralisation Intersected at Pinheiro
Savannah Resources Plc, the developer of the Barroso Lithium Project (the
'Project') in Portugal, Europe's largest spodumene lithium deposit, is pleased
to report the highest-grade lithium intercepts to date from the Project. These
results have come in the latest batch of assays received from the recently
completed first phase of resource-focused drilling in the current, two stage,
programme. These results outline a new high-grade zone of spodumene lithium
mineralisation within the pegmatite at the Pinheiro deposit, which has a
current JORC (2012) compliant resource of 2.0Mt @ 1.00% Li(2)O within the
overall Project JORC (2012) compliant resource of 28Mt @ 1.05% Li(2)O.
Pinheiro is the first deposit scheduled to be mined when the Project begins
production, and these new high-grade results point towards the potential for a
significant improvement in the Project's early cashflow and overall NPV.
Highlights:
· Results from the drilling at Pinheiro highlight a new zone of
high-grade lithium in the deposit's Western Pegmatite. Pinheiro currently has
two mineralised pegmatites identified.
· Six Reverse Circulation ('RC') holes were drilled to test the extent
and mineralisation of the Western Pegmatite for resource upgrade purposes. Two
further holes, drilled as part of the hydrogeological assessment programme,
also intersected the same pegmatite.
· Best results from five of the RC holes and the two hydrogeological
holes include:
o 76m @ 1.85% Li(2)O from 24m in 24PNRRC024 including 39m @ 2.21% Li(2)O
from 38m and 10m @ 2.28% Li(2)O from 80m.
o 46m @ 1.65% Li(2)O from 84m in EX7 (hydrogeological hole) including 14m @
2.15% Li(2)O from 97m.
o 85m @ 1.45% Li(2)O from 45m in EX9 (hydrogeological hole) including 39m @
2.15% Li(2)O from 59m.
· As the holes were drilled obliquely to the main strike of the
pegmatite, the true width of the pegmatite is interpreted to be between 25m
and 35m. The two, deeper, hydrogeological holes terminated within the
pegmatite, indicating further potential mineralisation with depth.
· Overall, 12 sample intervals reported greater than 3% Li(2)O, with
3.85% Li(2)O (77m-78m) and 3.65% Li(2)O (79m-80m) from hole EX9, and 3.53%
Li(2)O (62m-63m) from 24PNRRC024, being the three highest grade intercepts
from the Project to date.
· Assays are awaited from the sixth RC hole and two diamond drillholes
which also intercepted the Western Pegmatite
Savannah's Technical Director, Dale Ferguson said, "We're delighted with these
intercepts from the drilling undertaken recently at Pinheiro, which include
the best lithium intercepts we have produced to date on the whole Project.
Despite having drilled well over 30,000m at the Project, these results, along
with those reported last month from Reservatorio and NOA, demonstrate how
significant the upside potential still is for both resource expansion and
grade improvement within the Mining Lease."
Savannah's Chief Executive Officer, Emanuel Proença added, "These latest
drilling results from Pinheiro are a great reminder of the Project's remaining
geological potential. They may also prove to be economically significant for
the Project as a whole. Pinheiro is the first deposit we plan to develop in
our sequential mine plan, so any upside we can capture on tonnage, but
particularly grade, in our new resource estimate for the orebody could have a
beneficial effect on early cash flow during the first year of the operation.
We're all now looking forward to the remaining results due from Pinheiro."
Further Information
At Pinheiro six RC holes have been completed for a total of 705m and an
additional 260m of percussion drilling for hydrogeological testing. The fact
that the hydrogeological drill holes also intersected the pegmatite at depth
has added further potential to the extent of the lithium mineralisation at
Pinheiro, especially at depth where significant high-grade extensions have
been identified.
Figure 1. Barroso Lithium Project summary map showing deposits and drill hole
locations.
The assay results for five of the six RC holes and the two percussion holes
drilled for hydrogeological purposes have been received to date (See
Appendices 1-3 for full details and relevant JORC disclosures). The results
indicate that the Western Pegmatite at Pinheiro continues to contain high
grade lithium mineralisation with some of the highest Li(2)O grades seen from
the whole Project. From the 492 samples submitted 12 returned assays greater
than 3% Li(2)O (with 3.85% Li(2)O (77m-78m) and 3.65% Li(2)O (79m-80m) from
hole EX9, and 3.53% Li(2)O (62m-63m) from hole 24PNRRC024), 67 assayed at
greater than 2% Li(2)O and 150 greater than 1% Li(2)O. These results are
highly encouraging with lithium grades showing an increase with depth.
Key lithium intersections returned to date at Pinheiro include:
· 36m @ 1.28% Li(2)O from 28m in 24PNRRC021
· 15m @ 1.4% Li(2)O from 86m in 24PNRRC021
· 22m @ 1.27% Li(2)O from 74m in 24PNRRC023
· 76m @ 1.85% Li(2)O from 24m in 24PNRRC024 Including 39m @ 2.21%
Li(2)O from 38m and 10m @ 2.28% Li(2)O from 80m.
· 46m @ 1.65% Li(2)O from 84m in EX7 (percussion holes) including 14m @
2.15% Li(2)O from 97m.
· 85m @ 1.45% Li(2)O from 45m in EX9 (percussion holes) including 39m @
2.15% Li(2)O from 59m.
The drilling at Pinheiro has been orientated at oblique angles to the known
dip of the pegmatite due to access and topographical issues encountered. Three
of the drill holes that targeted the central portion of the pegmatite were
successful in intersecting the pegmatite, however, two of the holes to the
north failed to intersect it as it now appears that the strike of the
pegmatite is more to the northwest than the initial north-south
interpretation. The two hydrogeological holes were vertical holes and were
stopped in pegmatite as they were drilled for the purpose of hydrogeological
data collection. The lithium grades received from these two holes were very
consistent and of high grade. These results were further supported by similar
lithium grades in the RC drill holes at depth, providing further confidence in
the samples from the percussion drilling.
Two recently completed diamond drill holes that have been drilled for
metallurgical sampling purposes were drilled across the pegmatite at more
orthogonal angles and have provided valuable information on the widths of the
pegmatite in this region (25m to 35m). The logging and sampling of these cores
is in process, with the imminent dispatch to ALS' laboratory in Seville for
assay.
Figure 2. Location of Phase 1 drilling at Pinheiro with significant intercepts
from assays received to date.
Figure 3. Cross section 1 of Pinheiro deposit.
Figure 4. Cross section 2 of Pinheiro deposit.
Figure 5. Cross section 3 of Pinheiro deposit.
The second phase of drilling in the current programme is being planned and
drilling will endeavour to target the pegmatite at angles that better reflect
the true width of mineralisation.
Competent Person and Regulatory Information
The information in this announcement that relates to exploration results is
based upon information compiled by Mr Dale Ferguson, Technical Director of
Savannah Resources Limited. Mr Ferguson is a Member of the Australasian
Institute of Mining and Metallurgy (AusIMM) and has sufficient experience
which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined in the December 2012 edition of the "Australasian
Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves"
(JORC Code). Mr Ferguson consents to the inclusion in the report of the
matters based upon the information in the form and context in which it
appears.
Regulatory Information
This Announcement contains inside information for the purposes of the UK
version of the market abuse regulation (EU No. 596/2014) as it forms part of
United Kingdom domestic law by virtue of the European Union (Withdrawal) Act
2018 ("UK MAR").
Savannah - Enabling Europe's energy transition.
**ENDS**
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For further information please visit www.savannahresources
(http://www.savannahresources) .com or contact:
Savannah Resources PLC Tel: +44 20 7117 2489
Emanuel Proença, CEO
SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker) Tel: +44 20 3470 0470
David Hignell/ Charlie Bouverat (Corporate Finance)
Grant Barker/Abigail Wayne (Sales & Broking)
SCP Resource Finance (Joint Broker) Tel: +44 204 548 1765
Filipe Martins/Chris Tonkin
Camarco (Financial PR) Tel: +44 20 3757 4980
Gordon Poole/ Emily Hall / Nuthara Bandara
LPM (Portugal Media Relations) Tel: +351 218 508 110
Herminio Santos/ Jorge Coelho/Margarida Pinheiro
About Savannah
Savannah Resources is a mineral resource development company and the sole
owner of the Barroso Lithium Project in northern Portugal, the largest
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
EX7 Pinheiro PERC 130 601355 4606893 537 -90 0
EX9 Pinheiro PERC 130 601360 4606908 539 -90 0
APPENDIX 2 - Summary of Significant Intercepts from Pinheiro using a 0.5% Li(2)O Cutoff.
Hole_ID Prospect From (m) To (m) Interval (m) Grade Li(2)O%
24PNRRC020 Pinheiro No Significant Assays
24PNRRC021 Pinheiro 2 5 3 0.98
24PNRRC021 Pinheiro 28 64 36 1.28
24PNRRC021 Pinheiro 67 70 3 0.66
24PNRRC021 Pinheiro 74 78 4 0.59
24PNRRC021 Pinheiro 86 101 15 1.4
24PNRRC022 Pinheiro 4 6 2 0.96
EX7 Pinheiro 84 130 46 1.65
including 97 111 14 2.15
EX9 Pinheiro 45 130 85 1.45
including 59 98 39 2.15
24PNRRC023 Pinheiro 31 46 15 0.79
24PNRRC023 Pinheiro 50 59 9 0.52
24PNRRC023 Pinheiro 74 96 22 1.27
24PNRRC023 Pinheiro 100 106 6 1.07
24PNRRC023 Pinheiro 109 129 20 0.92
24PNRRC024 Pinheiro 14 19 5 0.77
24PNRRC024 Pinheiro 24 100 76 1.85
Including 38 77 39 2.21
and 80 90 10 2.28
24PNRRC024 Pinheiro 110 118 8 0.94
24PNRRC024 Pinheiro 132 137 5 1
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.
· Two of diamond holes were also completed for metallurgical
· Include reference to measures taken to ensure sample representivity sampling. Core was HQ size, sampled at 1m intervals in the pegmatite, with
and the appropriate calibration of any measurement tools or systems used. 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 · Two vertical percussion drill holes were drilled for hydrological
would be relatively simple (e.g. 'reverse circulation drilling was used to testing. The samples were logged and sampled for every metre drilled. The
obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for drill spoil was collected by shovel for every metre and placed in a sample bag
fire assay'). In other cases more explanation may be required, such as where and representative sub sample logged for geology.
there is coarse gold that has inherent sampling problems. Unusual commodities
or mineralisation types (e.g. submarine nodules) may warrant disclosure of · Drilling was carried out to infill previous drilling to achieve a
detailed information. nominal 40m by 40m spacing with selected infill to 40m by 20m spacings.
· Collar surveys are carried using differential DGPS with an
accuracy to within 0.2m.
· A down hole survey for each hole was completed using gyro
equipment.
· The lithium mineralisation is predominantly in the form of
Spodumene-bearing pegmatites, the pegmatites are unzoned and vary in thickness
from 5m-109m.
Drilling techniques · Drill type (e.g. core, reverse circulation, open-hole hammer, rotary • RC drilling used a 120mm diameter face sampling hammer.
air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple
or standard tube, depth of diamond tails, face-sampling bit or other type, · Core drilling was carried out using an HQ double tube core
whether core is oriented and if so, by what method, etc). barrel.
· Percussion drilling was carried out using a down hole hammer with
air being passed down through the centre of the string and the sample
travelling up the outside of the drill string.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · RC drilling sample weights were monitored to ensure samples were
results assessed. maximised. Samples were carefully loaded into a splitter and split in the same
manner ensuring that the sample split to be sent to the assay laboratories
· Measures taken to maximise sample recovery and ensure representative were in the range of 4-6kg.
nature of the samples.
· Core recovery was measured and was found to be generally
· Whether a relationship exists between sample recovery and grade and excellent.
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material. · No obvious relationships between sample recovery and grade.
Logging · Whether core and chip samples have been geologically and · RC holes were logged in the field at the time of sampling. Core
geotechnically logged to a level of detail to support appropriate Mineral was logged in detail 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.
· 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.
· 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.
· For the percussion drilling the whole sample interval was sampled
· Whether sample sizes are appropriate to the grain size of the due to the smaller diameter drill string. Each metre interval drilled was
material being sampled. collected and placed in a numbered sample bag. Please note that normal
circulation percussion drilling has inherent uncertainty with regards to
contamination of the sample. All measures have been taken to minimise any
contamination.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Samples were received, sorted, labelled, and dried.
laboratory procedures used and whether the technique is considered partial or
total. · Samples were crushed to 70% less than 2mm, riffle split off 250g,
pulverise split to better than 85% passing 75 microns and 5g was split of for
· For geophysical tools, spectrometers, handheld XRF instruments, etc, assaying.
the parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc. · The samples were analysed using ALS Laboratories ME-MS89L Super
Trace method which combines a sodium peroxide fusion with ICP-MS
· Nature of quality control procedures adopted (e.g. standards, blanks, instrumentation utilising collision/reaction cell technologies to provide the
duplicates, external laboratory checks) and whether acceptable levels of lowest detection limits available.
accuracy (i.e. lack of bias) and precision have been established.
· A prepared sample (0.2g) is added to sodium peroxide flux, mixed
well and then fused in at 670°C. The resulting melt is cooled and then
dissolved in 30% hydrochloric acid. This solution is then analysed by ICP-MS
and the results are corrected for spectral inter-element interferences.
· The final solution is then analysed by ICP-MS, with results
corrected for spectral inter-element interferences.
· Standards/blanks and duplicates were inserted on a 1:20 ratio for
both to samples taken.
· Duplicate sample regime is used to monitor sampling methodology
and homogeneity.
· Routine QA/QC controls for the method ME-MS89L include blanks,
certified reference standards of Lithium and duplicate samples. Samples are
assayed within runs or batches up to 40 samples. At the fusion stage that
quality control samples are included together with the samples, so all samples
follow the same procedure until the end. Fused and diluted samples are
prepared for ICP-MS analysis. ICP instrument is calibrated through appropriate
certified standards solutions and interference corrections to achieve strict
calibration fitting parameters. Each 40 sample run is assayed with two blanks,
two certified standards and one duplicate sample and results are evaluated
accordingly.
· A QA/QC review of all information indicated that all assays were
satisfactory.
Verification of sampling and assaying · The verification of significant intersections by either independent · All information was internally audited by company personnel.
or alternative company personnel.
· During this programme no holes were twinned.
· The use of twinned holes.
· Savannah's experienced project geologists supervised all
· Documentation of primary data, data entry procedures, data processes.
verification, data storage (physical and electronic) protocols.
· All field data is entered into a custom log sheet and then into
· Discuss any adjustment to assay data. excel spreadsheets (supported by look-up tables) at site and subsequently
validated as it is imported into the centralised Access database.
· Hard copies of logs, survey and sampling data are stored in the
local office and electronic data is stored on the company's cloud drive.
· Results were reported as Li (ppm) and were converted to a
percentage by dividing by 10,000 and then to Li(2)O% by multiplying by 2.153.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · The coordinate of each drill hole was taken at the time of
and down-hole surveys), trenches, mine workings and other locations used in collecting using a handheld GPS with an accuracy of 5m. All collars were
Mineral Resource estimation. subsequently surveyed using DGPS with an accuracy of 0.2m.
· Specification of the grid system used. · The grid system used is WSG84 Zone29N.
· Quality and adequacy of topographic control. · An accurate, aerial topographic survey was obtained with accuracy
of +/- 0.5m.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Drilling was carried out on an infill basis to attain on a
nominal 40m by 40m and based on geological targets with selected infill to 40m
· Whether the data spacing and distribution is sufficient to establish by 20m.
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied. · Drill data is considered of sufficient spacing to define Measured
and Indicated Mineral Resource in accordance with requirements for a DFS
· Whether sample compositing has been applied.
· Compositing to 1m will be applied prior to resource estimation.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Drilling was generally carried out using angled holes on the
possible structures and the extent to which this is known, considering the Western Pegmatite at Pinheiro with various azimuths due to limited access and
deposit type. the holes were generally dipping at -60° however limited access due to steep
topography in places meant that the majority of the RC holes were drilled in
· If the relationship between the drilling orientation and the the same direction as the dip of the pegmatite and so widths are not truly
orientation of key mineralised structures is considered to have introduced a representative. The width of the pegmatite is calculated to be between 25m and
sampling bias, this should be assessed and reported if material. 35m based on previous drilling orthogonal to the 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 programmes is carried
out and an external review will be carried out by the resource consultant to
assure that all data collection and QA/QC procedures were conducted to
industry standards.
JORC Table 1 Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · All work was completed inside the Mina do Barroso project C-100.
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites, · Savannah has received written confirmation from the DGEG that
wilderness or national park and environmental settings. under article 24 of Decree-Law no. 88/90 of March 16 being relevant
justification based on the resources allocated exploited and intended,
· The security of the tenure held at the time of reporting along with any Savannah has been approved an expansion up to 250m of C100 mining concession
known impediments to obtaining a license to operate in the area. in specific areas where a resource has been defined and the requirement for
the expansion can be justified.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Limited exploration work has been carried out by previous
operators.
· No historic information has been included in the Mineral Resource
estimates.
Geology · Deposit type, geological setting and style of mineralisation. · The lithium mineralisation is predominantly in the form of
Spodumene-bearing pegmatites which are hosted in meta-pelitic and mica
schists, and occasionally carbonate schists of upper Ordovician to lower
Devonian age. The pegmatites vary in thickness from 5m-109m.
Drill hole information · A summary of all information material to the under-standing of the · A table containing all drill holes drilled and a list of significant
exploration results including a tabulation of the following information for assays from the results received is included with the release.
all Material drill holes:
· No material data has been excluded from the release.
· easting and northing of the drill hole collar
· elevation or RL (Reduced Level - elevation above sea level in metres)
of the drill hole collar
· dip and azimuth of the hole
· down hole length and interception depth
· hole length
· If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · Length weighted average grades have been reported.
maximum and/or minimum grade truncations (e.g. cutting of high grades) and
cut-off grades are usually Material and should be stated. · No high-grade cuts have been applied to reported grades.
· Where aggregate intercepts incorporate short lengths of high grade · Metal equivalent values are not being reported; however Li is
results and longer lengths of low grade results, the procedure used for such reported as ppm and converted to the oxide Li(2)O for resource purposes. The
aggregation should be stated and some typical examples of such aggregations conversion factor used is to divide the Li value by 10,000 and multiplying by
should be shown in detail. 2.153 to represent the value as a percentage.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · The majority of holes have been drilled at angles to intersect the
Exploration Results. mineralisation in the same direction as the dip of the pegmatite, due to
access problems.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · The geometry of the Western Pegmatite at Pinheiro is moderate dipping
to the northwest and most of the holes had to be drilled at a close angle to
· If it is not known and only the down hole lengths are reported, there the mineralisation in that part of the deposit.
should be a clear statement to this effect (e.g. 'down hole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · A relevant plan showing the drilling is included within this
intercepts should be included for any significant discovery being reported. release.
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced Reporting · Accuracy and quality of surveys used to locate drill holes (collar · All relevant results available have been previously reported.
and down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.
· Where comprehensive reporting of all Exploration Results is not
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be reported · Geological mapping and rock chip sampling has been conducted over
including (but not limited to): geological observations; geophysical survey the project area.
results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (e.g. tests for lateral · The present drill programme has been designed to infill previous
extensions or depth extensions or large- scale step-out drilling). drilling to attain a measured or indicated class for an upcoming resource
estimation. Further work is being planned as part of a second phase of
· Diagrams clearly highlighting the areas of possible extensions, resource infill drilling.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive. · Economic evaluation of the defined Mineral Resources, will be
completed after the second phase of drilling.
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