Business
Portugal Update - Mineral Resource Increase
Portugal Update - Mineral Resource Increase.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 6770A Savannah Resources PLC 31 May 2019 \n\n31 May 2019 \n \nSavannah Resources Plc\n \nMineral Resource Increase to 27Mt \nwith Significant Scope for Further Expansion of Overall Resource at \nMina do Barroso Lithium Project \n \nHighlights\n· Continued resource expansion at Mina do Barroso confirming its position as Western Europe's most significant spodumene lithium mineral resource\n· ~15% increase in overall Mineral Resource Estimate which now stands at 27Mt at 1.06% Li₂O for 285,900t of contained Li₂O\n· Maiden Indicated and Inferred Mineral Resource established at Aldeia of 3.5Mt at 1.3% Li₂O\n· Aldeia resource over 25% higher in overall grade than other deposits previously defined at Mina do Barroso\n· Ongoing metallurgical and economic evaluations\n· Upgraded Exploration Target* for Mina do Barroso, now calculated at 11-19Mt at 1.0-1.2% Li₂O, giving a potential project mineral inventory range of 38 - 47Mt\n· Current indications suggest that significant increases to total resources are achievable with further exploration\n*Cautionary Statement: The potential quantity and grade of the Exploration Targets is conceptual in nature, there has been insufficient exploration work to estimate a mineral resource and it is uncertain if further exploration will result in defining a mineral resource.\n \nSavannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the 'Company'), the resource development company, is pleased to announce a significant increase in the JORC (2012) Compliant Measured, Indicated and Inferred Mineral Resource Estimate, with an additional upgrade in Exploration Target at the Company's flagship asset, the Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project'), located in northern Portugal (Figure 1 and Table 1-2). \n \nTo view the press release with the illustrative maps and diagrams please use the following link: \nhttp://www.rns-pdf.londonstockexchange.com/rns/6770A_1-2019-5-30.pdf\n \n \nSavannah's CEO, David Archer said: \"We continue to be encouraged by our extensive resource drilling programme which is increasing the mine life of the Project, in addition to providing an invent...