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Pinheiro Drilling Results Update
Pinheiro Drilling Results Update.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n\n \n \n12 March 2024\n \nSavannah Resources Plc\n(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')\n \nBroad High-Grade Zones of Lithium Mineralisation Intersected at Pinheiro\n \nSavannah 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% Li2O within the overall Project JORC (2012) compliant resource of 28Mt @ 1.05% Li2O. 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.\n \n \nHighlights:\n \n· 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.\n· 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.\n· Best results from five of the RC holes and the two hydrogeological holes include...