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3.2Mt Maiden Resource at Lithium Project, Portugal
3.2Mt Maiden Resource at Lithium Project, Portugal.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5746Z Savannah Resources PLC 18 December 2017 \n\n \nSavannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining\n18 December 2017\nSavannah Resources Plc\nMaiden Lithium Resource of 3.2Mt for the Mina do Barroso Lithium Project, Portugal with Significant Expansion Potential\n \nSavannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to announce a maiden Mineral Resource Estimate of 3.2 million tonnes for the Reservatorio Deposit, which is one of three targets currently being advanced as part of the ongoing exploration and development programme for the Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project') in northern Portugal (Figure 1). Crucially further upside remains as the drill programme is ongoing, with the aim of further expanding the Reservatorio Mineral Resource and defining new JORC - 2012 compliant Mineral Resource Estimates at other deposits. To view the press release with the illustrative maps and diagrams please use the following link: \nhttp://www.rns-pdf.londonstockexchange.com/rns/5746Z_-2017-12-17.pdf\n \nHIGHLIGHTS:\n· Initial Inferred Mineral Resource of 3.2Mt at 1.0% Li₂O containing 32,000t of Li₂O for Reservatorio Deposit\n· Reservatorio is one of at least eight pegmatite deposits on the Mina do Barroso Mining Lease and one of three deposits currently being drilled\n· Further drilling is now planned both down dip and targeting the potential eastern extension of the deposit where higher lithium grades occur \n· Mineral Resource updates are likely for Reservatorio during 2018 as the drilling programme continues\n· A maiden Mineral Resource Estimate for the Grandao deposit is expected during Q1 2018\n· Drilling is ongoing and will take a short break over Christmas before commencing again in early January at which time a second rig will be introduced to accelerate the drilling programme\n \nSavannah's CEO, David Archer said: \"That we have an estimated 3.2 million tonne Resource from just one of at least eight pegmatite deposits at our Mina do Barroso Lithium Project gives an indication of the potential scale of this project. We are now focused on defining a signif...