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Resource Update at Mina do Barroso Lithium Project
Resource Update at Mina do Barroso Lithium Project.
About this update from Savannah Resources Plc
[{"type":"text","content":"\n \nRNS Number : 5067V Savannah Resources PLC 09 April 2019 \n\n \n9 April 2019\n \nSavannah Resources Plc\n \nMineral Resource Increase of 17% to 23.5Mt at Mina do Barroso Lithium Project \nSignificant scope for further expansions \n \nHighlights\n· Continued resource expansion at Mina do Barroso, increasing the Project's lead as Western Europe's most significant spodumene lithium Mineral Resource\n· ~17% increase in overall JORC compliant Mineral Resource Estimate for the Project, which now stands at 23.5Mt at 1.02% Li₂O for 241,000t of contained Li₂O\n· 100% of mineralisation within the Grandao Stage 1 pit classified as Measured or Indicated Mineral Resource\n· 28% increase in Measured and Indicated Resource to 13.3Mt at 1.0% Li₂O representing 58% of the total Mineral Resource\n· Inferred Mineral Resource established at Pinheiro of 2.0Mt at 1.0% Li₂O\n· Exploration Target* remains unchanged for Mina do Barroso, calculated at 9-15Mt at 1.0-1.2% Li₂O, giving a potential mineral inventory of over 30Mt for the Project\n· Recent test work has reduced iron content of the Mineral Resource by 41% to 0.8% Fe₂O₃ confirming a low iron deposit\n· The Board believes significant upside remains at all deposits to further increase the resource inventory in addition to any potential inaugural Mineral Resource Estimate for the Aldeia Quarry Prospect \n \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: AFM 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 supporting 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). To view the press release with the illustrative maps and diagrams please use the followi...