Business
Finland Lithium Initiative - Permits Granted
Finland Lithium Initiative - Permits Granted.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 0154C Savannah Resources PLC 23 June 2016 \n\nSavannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining\n \n 23 June 2016\n \nSavannah Resources Plc\nFinland Lithium Initiative - Reservation Permits Granted \n \nSavannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to announce that further to the announcement of 2 June 2016, its Reservation Permit Applications over two new lithium projects, Somero and Eräjärvi in Finland, have now been granted. To view the press release with the illustrative maps and diagrams please use the following link: \n \nHIGHLIGHTS:\n· Somero and Eräjärvi Projects have now been granted:\no Somero Project, Granted Reservation Permit until 11 May 2018 - 60.5km2 \no Eräjärvi Project, Granted Reservation Permit until 11 May 2018 - 98.5km2\n· Somero Reservation permit less than 2km from Nortec Minerals\n· Geological mapping by the Finnish Geological Survey ('GTK') within the project areas has highlighted the presence of key lithium minerals spodumene, lepidolite and petalite\n· Project areas have excellent access to high quality infrastructure and are located close to potential final customers\n· Savannah is in the process of establishing a team, which has the capability of rapidly advancing the projects\n· An exploration programme is currently being finalised including data compilation, geological mapping and surface sampling with the aim of generating drill ready targets during 2016\n \nDavid Archer, Savannah's Chief Executive Officer said today, \"We are delighted with the award of these areas, which cover a series of documented, outcropping, lithium-bearing pegmatites in one of the world's prime resources jurisdictions, close to globally significant consumers of lithium based products. These projects provide us with access to the highly promising lithium market, which in light of growing demand from the burgeoning battery market, is forecast to grow at a rapid rate. With a revolution underway in how we generate and use energy, the demand for materials such as lithium, which is a key component in new energy storage solutions, is rising...