26 February 2024
Savannah Resources
Plc
(AIM: SAV, FWB: SAV and SWB:
SAV) ('Savannah', or the
'Company')
Barroso Lithium Project:
Phase 1 Resource Drilling Completed
Savannah Resources Plc, the
developer of the Barroso Lithium Project (the 'Project') in
Portugal, Europe's largest spodumene lithium deposit, is pleased to
announce the completion of the resource-related drilling in the
first phase of its current two-phase drilling programme. The first
set of assays from holes drilled at the NOA and Reservatorio
orebodies have also been received showing excellent grades and
continuity of mineralisation. These results, along with those still
to be received, will be used to finalise plans for the second phase
of drilling and will be fed into new resource estimates for the
orebodies as part of the Project's ongoing Definitive Feasibility
Study ('DFS').
Highlights:
·
First phase of DFS-related resource drilling at
the Project has been completed. Phase 1 drilling for metallurgical
and geotechnical purposes, will be completed during March
2024
·
The resource infill drilling programme was
designed to upgrade existing Indicated and Inferred resources at
NOA, Reservatorio, Pinheiro and Grandao to both Measured and
Indicated categories so that it can be used to define a maiden JORC
(2012) compliant Reserve as part of the DFS study.
·
In total 3188.5m were drilled across 39 Reverse
Circulation ('RC') holes (3 with diamond tails) and 3 diamond drill
holes
·
Results have now been received from 25 holes with
the best assays reported including:
o 41m @ 1.21% Li2O
from 159m in 23RESRC038
o 40m @ 1.17% Li2O
from 70m in 23RESRC045
o 11m
@ 1.22% Li2O from 13m in 23NOARC040
o 13m
@ 1.12% Li2O from 31m in 23NOARC041
o 8m @
1.34% Li2O from 21m in 23NOARC036
·
Initial results received from two holes at
Reservatorio show the lithium mineralised pegmatite continuing at
depth and have returned 40m+ widths with excellent lithium
mineralisation grades.
·
Results received to date from the NOA deposit
confirm the continuity of the lithium mineralisation and have
highlighted that the pegmatite continues to the northwest on the
Mining Lease area, beyond the current envelope of the
resource.
·
Diamond tails drilled at Reservatorio to access
deeper parts of the pegmatite have returned notable pegmatite
intersections, logging and sampling of these is currently
underway.
·
Geotechnical diamond drilling has begun at NOA and
Reservatorio, to aid in finalising the mine designs.
·
Geologia e Geotecnia Consultores Lda., a
geological consulting firm from Portugal, has been appointed to
carry out the preliminary geotechnical assessment.
Next steps:
·
Further assay results will be released as they are
received.
·
Completion of phase 1 geotechnical and
metallurgical drilling.
·
Planning for the second phase of drilling to be
completed once all results are in hand.
The Company still expects to begin
updating the JORC resource estimates on a deposit-by-deposit basis
later this quarter.
Savannah's Technical Director, Dale Ferguson
said, "After some minor delays
caused by severe weather and technical issues with the equipment,
the resource-related drilling in the first phase of the current
campaign is complete. To date we have received assays from 25 of
the 42 holes drilled which have been largely consistent with
previous orebody grades but did include some notably higher-grade
intercepts. The drilling has also confirmed that mineralisation
continues beyond the current resource envelopes at
Reservatorio and NOA.
"While the geotechnical and
metallurgical drilling continues at the Project, our job is to take
the data from this first phase of resource drilling and to produce
new, upgraded, JORC resource estimates for the relevant orebodies.
We expect to produce the first of these before the end of the
current quarter. We will also use the first phase results, once all
are received, to finalise our planning for the second phase of the
programme.
"Completion of the first phase of
resource-related drilling and the subsequent results represent
genuine progress towards Savannah's target of completing the
Project's DFS later this year. We now look forward to publishing
more assay results and new resource estimates in the months
ahead."
Savannah's CEO, Emanuel Proença added,
"The technical team has performed really well over
the winter, ensuring that we make the progress needed to stay on
track with our schedule. The results are exciting, and they
reinforce that the largest spodumene resource in Europe continues
to have potential to grow significantly. We are one step closer to
delivering this much awaited project, which is so required for a
thriving European EV battery value chain. We are conscious of how
important this project can be in helping to control the
geopolitical and raw material supply challenges which threatens the
fulfilment of the EU's energy transition strategy after 2026, and
we will deliver."
Further Information
The first phase of infill resource
drilling at the Barroso Lithium Project has been completed with a
total of 3188.5m drilled across 39 Reverse Circulation ('RC') holes
(3 with diamond tails) and 3 diamond drill holes (Figure 1 and
Appendix 1). This Phase 1 programme has been designed to infill the
drilling primarily at Reservatorio, NOA, Pinheiro and Grandao to
allow upgrades to the existing JORC Inferred and Indicated resource
into the Measured and Indicated categories. This is a requirement
for the Definitive Feasibility Study with the upgraded
resources set to provide the foundation for the Project's first
JORC Reserve estimate.
Figure 1. Barroso Lithium Project
summary map showing deposits and drill hole locations.
Assay results have been received for
the 23 RC holes drilled at NOA that were completed to confirm the
continuity of the mineralisation of the pegmatite. At Reservatorio
8 RC holes (3 with diamond tails) and 3 diamond holes have been
drilled with results back for two of the holes (Appendix
2).
Key lithium intersections returned
to date include:
Reservatorio
·
41m @ 1.21% Li2O from 159m in
23RESRC038
·
40m @ 1.17% Li2O from 70m in
23RESRC045
NOA
·
8m @ 1.34% Li2O from 21m in
23NOARC036
·
7m @ 1.16% Li2O from 16m in
23NOARC037
·
11m @ 1.22% Li2O from 13m in
23NOARC040
·
13m @ 1.12% Li2O from 31m in
23NOARC041
·
9m @ 1.18% Li2O from 0m in
23NOARC044
The drilling at Reservatorio
(Figures 2-4) targeted depth extensions of the pegmatite as defined
in the resource estimation to confirm continuation of the lithium
mineralisation, with significant intersection widths of 30 to 40m.
The indications are that the dip of the pegmatite is becoming
shallower at depth, which would offer a more attractive target for
further drilling.
Figure 2. Location of Phase 1
drilling at Reservatorio with significant assays & intercepts
received to date.
Figure 3. Cross section 1
(A-A') of Reservatorio deposit.
Figure 4. Cross section 2
(B-B') of Reservatorio deposit.
At NOA, the drilling (Figures 5 and
6) has confirmed the continuity of mineralisation and shown that it
is still extending at depth and continues along strike to the
northwest on the Mining Lease area, which will be a target for
follow up at a later stage.
Figure 5. Location of Phase 1
resource infill drilling at NOA with significant
intercepts.
Figure 6. Cross section (C-C')
of NOA deposit.
At Pinheiro, 6 RC holes were
completed on the western pegmatite to infill the previous drilling
and to assess the northern continuation of the pegmatite. The
topography limited the location of drill pads meaning several of
the holes had to be drilled towards the west following the dip of
the pegmatite and not towards the east to intersect the
mineralisation. Results are still pending for this
drilling.
Competent Person and Regulatory Information
The information in this announcement
that relates to exploration results is based upon information
compiled by Mr Dale Ferguson, Technical Director of Savannah
Resources Limited. Mr Ferguson is a Member of the Australasian
Institute of Mining and Metallurgy (AusIMM) and has sufficient
experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined in the
December 2012 edition of the "Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves" (JORC
Code) and under the AIM Rules for Companies. Mr Ferguson consents
to the inclusion in the report of the matters based upon the
information in the form and context in which it appears.
Regulatory Information
This Announcement contains inside
information for the purposes of the UK version of the market abuse
regulation (EU No. 596/2014) as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act 2018
("UK MAR").
Savannah - Enabling Europe's energy
transition.
**ENDS**
Follow @SavannahRes on X (Formerly
known as Twitter)
Follow
Savannah Resources on LinkedIn
For further information please
visit www.savannahresources.com
or contact:
Savannah Resources PLC
Emanuel Proença, CEO
|
Tel: +44 20 7117 2489
|
SP
Angel Corporate Finance LLP (Nominated Advisor & Joint
Broker)
David Hignell/ Charlie Bouverat
(Corporate Finance)
Grant Barker/Abigail Wayne (Sales
& Broking)
|
Tel: +44 20 3470 0470
|
SCP
Resource Finance (Joint Broker)
|
Tel: +44 204 548 1765
|
Filipe Martins/Chris
Tonkin
|
|
|
|
Camarco (Financial PR)
Gordon Poole/ Emily Hall /
Nuthara Bandara
|
Tel: +44 20 3757 4980
|
|
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LPM
(Portugal Media Relations)
Herminio Santos/ Jorge
Coelho/Margarida Pinheiro
|
Tel: +351 218 508 110
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About Savannah
Savannah Resources is a mineral
resource development company and the sole owner of the Barroso
Lithium Project in northern Portugal, the largest spodumene lithium
resource outlined to date in Europe.
Through the Barroso Lithium Project
(the 'Project'), Savannah will help Portugal to play an important
role in providing a long-term, locally sourced, lithium raw
material supply for Europe's rapidly developing lithium battery
value chain. After the Environmental Licence was granted in May
2023 and the Scoping Study confirmed the economic potential of the
Project in June 2023, production is now targeted and on track to
begin in 2026. At that stage, Savannah will start producing enough
lithium for approximately half a million vehicle battery packs per
year, equal to a significant portion of the European Commission's
Critical Raw Material Act goal of a minimum 10% of European
endogenous lithium production set for 2030. Savannah is focused on
the responsible development and operation of the Barroso Lithium
Project so that its impact on the environment is minimised and the
socio-economic benefits that it can bring to all its stakeholders
are maximised.
The Company is listed and regulated
on the London Stock Exchange's Alternative Investment Market (AIM)
and the Company's ordinary shares are also available on the
Quotation Board of the Frankfurt Stock Exchange (FWB) under the
symbol FWB: SAV, and the Börse Stuttgart (SWB) under the ticker
"SAV".
APPENDIX 1 - Drill hole locations of Phase 1 RC and Diamond Resource
Holes.
Hole_ID
|
Prospect
|
Hole Type
|
Total Depth
|
East (mE)
|
North (mN)
|
Elevation
(mASL)
|
Dip
|
Azimuth
|
23NOARC026
|
NOA
|
RC
|
111
|
599104
|
4609510
|
677
|
-60
|
198
|
23NOARC027
|
NOA
|
RC
|
40
|
599015
|
4609572
|
689
|
-60
|
198
|
23NOARC028
|
NOA
|
RC
|
40
|
599047
|
4609565
|
692
|
-60
|
198
|
23NOARC029
|
NOA
|
RC
|
42
|
599025
|
4609498
|
693
|
-60
|
200
|
23NOARC030
|
NOA
|
RC
|
35
|
598992
|
4609575
|
686
|
-60
|
200
|
23NOARC031
|
NOA
|
RC
|
30
|
598988
|
4609559
|
687
|
-60
|
200
|
23NOARC032
|
NOA
|
RC
|
123
|
599086
|
4609555
|
691
|
-60
|
200
|
23NOARC033
|
NOA
|
RC
|
20
|
598985
|
4609540
|
688
|
-60
|
200
|
23NOARC034
|
NOA
|
RC
|
40
|
598894
|
4609584
|
687
|
-60
|
200
|
23NOARC035
|
NOA
|
RC
|
43
|
598900
|
4609610
|
683
|
-60
|
200
|
23NOARC036
|
NOA
|
RC
|
35
|
598916
|
4609606
|
679
|
-60
|
200
|
23NOARC037
|
NOA
|
RC
|
67
|
598916
|
4609589
|
678
|
-60
|
200
|
23NOARC038
|
NOA
|
RC
|
35
|
599205
|
4609406
|
691
|
-60
|
200
|
23NOARC039
|
NOA
|
RC
|
61
|
599238
|
4609389
|
687
|
-60
|
200
|
23NOARC040
|
NOA
|
RC
|
45
|
599174
|
4609436
|
687
|
-60
|
200
|
23NOARC041
|
NOA
|
RC
|
60
|
599135
|
4609470
|
681
|
-60
|
200
|
23NOARC042
|
NOA
|
RC
|
85
|
599190
|
4609491
|
673
|
-60
|
200
|
23NOARC043
|
NOA
|
RC
|
130
|
599074
|
4609531
|
689
|
-60
|
200
|
23NOARC044
|
NOA
|
RC
|
35
|
599100
|
4609457
|
674
|
-60
|
200
|
23NOARC045
|
NOA
|
RC
|
35
|
599112
|
4609440
|
674
|
-60
|
200
|
23NOARC046
|
NOA
|
RC
|
35
|
598943
|
4609589
|
678
|
-60
|
200
|
23NOARC047
|
NOA
|
RC
|
25
|
598938
|
4609573
|
679
|
-60
|
200
|
23NOARC048
|
NOA
|
RC
|
105
|
599157
|
4609520
|
666
|
-60
|
200
|
23RESRC038
|
Reservatorio
|
RC
|
207
|
599510
|
4609249
|
655
|
-90
|
0
|
23RESRC039
|
Reservatorio
|
RCDD
|
135
|
599511
|
4609246
|
655
|
-70
|
150
|
23RESRC040
|
Reservatorio
|
RCDD
|
120
|
599557
|
4609245
|
649
|
-90
|
0
|
23RESRC041
|
Reservatorio
|
RCDD
|
120
|
599559
|
4609241
|
649
|
-70
|
150
|
23RESRC042
|
Reservatorio
|
RC
|
12
|
599650
|
4609094
|
594
|
-60
|
150
|
23RESRC043
|
Reservatorio
|
RC
|
9
|
599687
|
4609109
|
591
|
-60
|
150
|
23RESRC044
|
Reservatorio
|
RC
|
18
|
599618
|
4609011
|
599
|
-60
|
150
|
23RESRC045
|
Reservatorio
|
RC
|
130
|
599679
|
4609231
|
619
|
-90
|
0
|
23RESDD009
|
Reservatorio
|
DD
|
90.5
|
599764
|
4609176
|
611
|
-60
|
150
|
24RESDD010
|
Reservatorio
|
DD
|
40
|
599688
|
4609110
|
590
|
-60
|
150
|
24RESDD011
|
Reservatorio
|
DD
|
50
|
599617
|
4609016
|
599
|
-60
|
150
|
24RESDD012
|
Reservatorio
|
DD
|
50
|
599661
|
4609070
|
590
|
-60
|
150
|
24PNRRC020
|
Pinheiro
|
RC
|
110
|
601380
|
4606960
|
542
|
-60
|
270
|
24PNRRC021
|
Pinheiro
|
RC
|
113
|
601402
|
4606933
|
543
|
-60
|
220
|
24PNRRC022
|
Pinheiro
|
RC
|
100
|
601401
|
4606936
|
543
|
-60
|
265
|
24PNRRC023
|
Pinheiro
|
RC
|
138
|
601408
|
4606892
|
547
|
-60
|
190
|
24PNRRC024
|
Pinheiro
|
RC
|
144
|
601406
|
4606893
|
547
|
-65
|
220
|
24PNRRC025
|
Pinheiro
|
RC
|
100
|
601402
|
4606931
|
543
|
-55
|
290
|
24GRARC132
|
Grandao
|
RC
|
90
|
601743
|
4608177
|
521
|
-90
|
0
|
24GRARC133
|
Grandao
|
RC
|
39
|
601919
|
4607864
|
563
|
-90
|
0
|
APPENDIX 2 - Summary of Significant Intercepts from NOA and Reservatorio
using a 0.5% Li2O
Cutoff.
Hole_ID
|
Prospect
|
From (m)
|
To (m)
|
Interval
(m)
|
Grade
Li2O
%
|
23NOARC026
|
NOA
|
64
|
71
|
7
|
1.31
|
and
|
|
94
|
97
|
3
|
0.78
|
23NOARC027
|
NOA
|
No
Significant Assays
|
23NOARC028
|
NOA
|
No
Significant Assays
|
23NOARC029
|
NOA
|
15
|
17
|
2
|
1
|
23NOARC029
|
NOA
|
32
|
36
|
4
|
1.25
|
23NOARC030
|
NOA
|
23
|
25
|
2
|
0.81
|
23NOARC031
|
NOA
|
12
|
17
|
5
|
0.98
|
23NOARC032
|
NOA
|
98
|
104
|
6
|
0.82
|
23NOARC033
|
NOA
|
7
|
11
|
4
|
1.22
|
23NOARC034
|
NOA
|
31
|
37
|
6
|
1.2
|
23NOARC035
|
NOA
|
30
|
36
|
6
|
1.38
|
23NOARC036
|
NOA
|
21
|
29
|
8
|
1.34
|
23NOARC037
|
NOA
|
16
|
23
|
7
|
1.16
|
23NOARC038
|
NOA
|
No
Significant Assays
|
23NOARC039
|
NOA
|
No
Significant Assays
|
23NOARC040
|
NOA
|
13
|
24
|
11
|
1.22
|
23NOARC041
|
NOA
|
31
|
44
|
13
|
1.12
|
23NOARC042
|
NOA
|
66
|
71
|
5
|
0.58
|
23NOARC043
|
NOA
|
105
|
107
|
2
|
1.58
|
and
|
|
114
|
117
|
3
|
1.24
|
23NOARC044
|
NOA
|
0
|
9
|
9
|
1.18
|
23NOARC045
|
NOA
|
No
Significant Assays
|
23NOARC046
|
NOA
|
10
|
16
|
6
|
1.36
|
23NOARC047
|
NOA
|
9
|
15
|
6
|
0.96
|
23NOARC048
|
NOA
|
No
Significant Assays
|
23RESRC038
|
Reservatorio
|
159
|
200
|
41
|
1.21
|
23RESRC045
|
Reservatorio
|
70
|
110
|
40
|
1.17
|
APPENDIX 3 - JORC 2012 Table 1 -DFS
Infill Drilling
JORC Table 1 Section 1
Sampling Techniques and Data
Criteria
|
JORC Code
Explanation
|
Commentary
|
Sampling
techniques
|
·
Nature and
quality of sampling (e.g. cut channels, random chips, or specific
specialised industry standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma sondes, or
handheld XRF instruments, etc). These examples should not be taken
as limiting the broad meaning of sampling.
·
Include
reference to measures taken to ensure sample representivity and the
appropriate calibration of any measurement tools or systems
used.
·
Aspects of the
determination of mineralisation that are Material to the Public
Report. In cases where 'industry standard' work has been done this
would be relatively simple (e.g. 'reverse circulation drilling was
used to obtain 1 m samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay'). In other cases more
explanation may be required, such as where there is coarse gold
that has inherent sampling problems. Unusual commodities or
mineralisation types (e.g. submarine nodules) may warrant
disclosure of detailed information.
|
· The
majority of holes were reverse circulation, sampled at 1m
intervals. RC samples were collected in large plastic bags attached
to the cyclone. On completion of the 1m run the large sample was
passed through a 3-stage riffle splitter to collect a 2.5-4kg sub
sample, to be used for assay.
· A
number of diamond holes were also completed as tails to the RC
drilling where the target interval was too deep for the RC or in
places where the rock was too weathered for the RC to proceed. Core
was HQ size, sampled at 1m intervals in the pegmatite, with
boundaries sampled to geological boundaries. Half core samples were
collected for analysis.
· Drilling was carried out to infill previous drilling to
achieve a nominal 40m by 40m spacing with selected infill to 40m by
20m spacings.
· Collar
surveys are carried using differential DGPS with an accuracy to
within 0.2m.
· A down
hole survey for each hole was completed using gyro
equipment.
· The
lithium mineralisation is predominantly in the form of
Spodumene-bearing pegmatites, the pegmatites are unzoned and vary
in thickness from 5m-109m.
|
Drilling
techniques
|
·
Drill type (e.g.
core, reverse circulation, open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc) and details (e.g. core diameter, triple
or standard tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by what method,
etc).
|
• RC drilling used a 120mm diameter
face sampling hammer.
· Core
drilling was carried out using an HQ double tube core
barrel.
|
Drill sample
recovery
|
·
Method of
recording and assessing core and chip sample recoveries and results
assessed.
·
Measures taken
to maximise sample recovery and ensure representative nature of the
samples.
·
Whether a
relationship exists between sample recovery and grade and whether
sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
|
· RC
drilling sample weights were monitored to ensure samples were
maximised. Samples were carefully loaded into a splitter and split
in the same manner ensuring that the sample split to be sent to the
assay laboratories were in the range of 4-6kg.
· Core
recovery was measured and was found to be generally
excellent.
· No
obvious relationships between sample recovery and grade.
|
Logging
|
·
Whether core and
chip samples have been geologically and geotechnically logged to a
level of detail to support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
·
Whether logging
is qualitative or quantitative in nature. Core (or costean,
channel, etc) photography.
·
The total length
and percentage of the relevant intersections
logged.
|
· RC
holes were logged in the field at the time of sampling. Core was
logged in detail in a logging yard.
· Each
1m sample interval was carefully homogenised and assessed for
lithology, colour, grainsize, structure and
mineralisation.
· A
representative chip sample produced from RC drilling was washed and
taken for each 1m sample and stored in a chip tray which was
photographed.
· Core
was photographed.
|
Sub-sampling techniques and
sample preparation
|
·
If core, whether
cut or sawn and whether quarter, half or all core
taken.
·
If non-core,
whether riffled, tube sampled, rotary split, etc and whether
sampled wet or dry.
·
For all sample
types, the nature, quality and appropriateness of the sample
preparation technique.
·
Quality control
procedures adopted for all sub-sampling stages to maximise
representivity of samples.
·
Measures taken
to ensure that the sampling is representative of the in-situ
material collected, including for instance results for field
duplicate/second-half sampling.
·
Whether sample
sizes are appropriate to the grain size of the material being
sampled.
|
· 1m RC
samples were split by the riffle splitter at the drill rig and
sampled dry.
· Core
was cut in half using a diamond saw with 1m half core samples
submitted for analysis.
· The
sampling was conducted using industry standard techniques and were
considered appropriate.
· Field
duplicates were used to test repeatability of the sub-sampling and
were found to be satisfactory.
· Every
effort was made to ensure that the samples were representative and
not biased in any way.
|
Quality of assay data and
laboratory tests
|
·
The nature,
quality and appropriateness of the assaying and laboratory
procedures used and whether the technique is considered partial or
total.
·
For geophysical
tools, spectrometers, handheld XRF instruments, etc, the parameters
used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their
derivation, etc.
·
Nature of
quality control procedures adopted (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable
levels of accuracy (i.e. lack of bias) and precision have been
established.
|
· Samples were received, sorted, labelled, and dried.
· Samples were crushed to 70% less than 2mm, riffle split off
250g, pulverise split to better than 85% passing 75 microns and 5g
was split of for assaying.
· The
samples were analysed using ALS Laboratories ME-MS89L Super Trace
method which combines a sodium peroxide fusion with ICP-MS
instrumentation utilising collision/reaction cell technologies to
provide the lowest detection limits available.
· A
prepared sample (0.2g) is added to sodium peroxide flux, mixed well
and then fused in at 670°C. The resulting melt is cooled and then
dissolved in 30% hydrochloric acid. This solution is then analysed
by ICP-MS and the results are corrected for spectral inter-element
interferences.
· The
final solution is then analysed by ICP-MS, with results corrected
for spectral inter-element interferences.
· Standards/blanks and duplicates were inserted on a 1:20 ratio
for both to samples taken.
· Duplicate sample regime is used to monitor sampling
methodology and homogeneity.
· Routine QA/QC controls for the method ME-MS89L include blanks,
certified reference standards of Lithium and duplicate samples.
Samples are assayed within runs or batches up to 40 samples. At the
fusion stage that quality control samples are included together
with the samples, so all samples follow the same procedure until
the end. Fused and diluted samples are prepared for ICP-MS
analysis. ICP instrument is calibrated through appropriate
certified standards solutions and interference corrections to
achieve strict calibration fitting parameters. Each 40 sample run
is assayed with two blanks, two certified standards and one
duplicate sample and results are evaluated accordingly.
· A
QA/QC review of all information indicated that all assays were
satisfactory.
|
Verification of sampling and
assaying
|
·
The verification
of significant intersections by either independent or alternative
company personnel.
·
The use of
twinned holes.
·
Documentation of
primary data, data entry procedures, data verification, data
storage (physical and electronic) protocols.
·
Discuss any
adjustment to assay data.
|
· All
information was internally audited by company personnel.
· During
this program no holes were twinned.
· Savannah's experienced project geologists supervised all
processes.
· All
field data is entered into a custom log sheet and then into excel
spreadsheets (supported by look-up tables) at site and subsequently
validated as it is imported into the centralised Access
database.
· Hard
copies of logs, survey and sampling data are stored in the local
office and electronic data is stored on the company's cloud
drive.
· Results were reported as Li (ppm) and were converted to a
percentage by dividing by 10,000 and then to Li2O% by
multiplying by 2.153.
|
Location of data
points
|
·
Accuracy and
quality of surveys used to locate drill holes (collar and down-hole
surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.
·
Specification of
the grid system used.
·
Quality and
adequacy of topographic control.
|
· The
coordinate of each drill hole was taken at the time of collecting
using a handheld GPS with an accuracy of 5m. All collars were
subsequently surveyed using DGPS with an accuracy of
0.2m.
· The
grid system used is WSG84 Zone29N.
· An
accurate, aerial topographic survey was obtained with accuracy of
+/- 0.5m.
|
Data spacing and
distribution
|
·
Data spacing for
reporting of Exploration Results.
·
Whether the data
spacing and distribution is sufficient to establish the degree of
geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and
classifications applied.
·
Whether sample
compositing has been applied.
|
· Drilling was carried out on an infill basis to attain on a
nominal 40m by 40m and based on geological targets with selected
infill to 40m by 20m.
· Drill
data is considered of sufficient spacing to define Measured and
Indicated Mineral Resource in accordance with requirements for a
DFS.
· Compositing to 1m will be applied prior to resource
estimation.
|
Orientation of data in
relation to geological structure
|
·
Whether the
orientation of sampling achieves unbiased sampling of possible
structures and the extent to which this is known, considering the
deposit type.
·
If the
relationship between the drilling orientation and the orientation
of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if
material.
|
· Drilling was generally carried out using angled holes at NOA
with an azimuth of 200° and generally dipping at -60°
and intersected the moderately dipping deposit at
close to orthogonal to the known dip of the main pegmatite. At
Reservatorio the holes were generally drilled at an azimuth of
150° with a dip
that varied from -60° to vertical.
· Intersections were close to true width for the main
pegmatite.
· No
orientation-based sampling bias has been identified in the
data.
|
Sample
security
|
·
The measures
taken to ensure sample security.
|
· Samples were delivered to a courier and chain of custody is
managed by Savannah.
|
Audits or
reviews
|
·
The results of
any audits or reviews of sampling techniques and
data.
|
· Internal company auditing based on previous programs is
carried out and an external review will be carried out by the
resource consultant to assure that all data collection and QA/QC
procedures were conducted to industry standards.
|
JORC Table 1 Section 2
Reporting of Exploration Results
Criteria
|
JORC Code
explanation
|
Commentary
|
Mineral tenement and land
tenure status
|
·
Type, reference
name/number, location and ownership including agreements or
material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests,
historical sites, wilderness or national park and environmental
settings.
· The security of the tenure
held at the time of reporting along with any known impediments to
obtaining a license to operate in the area.
|
· All
work was completed inside the Mina do Barroso project
C-100.
· Savannah has received written confirmation from the DGEG that
under article 24 of Decree-Law no. 88/90 of March 16 being relevant
justification based on the resources allocated exploited and
intended, Savannah has been approved an expansion up to 250m of
C100 mining concession in specific areas where a resource has been
defined and the requirement for the expansion can be
justified.
|
Exploration done by other
parties
|
·
Acknowledgment
and appraisal of exploration by other parties.
|
· Limited exploration work has been carried out by previous
operators.
· No
historic information has been included in the Mineral Resource
estimates.
|
Geology
|
·
Deposit type,
geological setting and style of mineralisation.
|
·
The lithium mineralisation is predominantly in the
form of Spodumene-bearing pegmatites which are hosted in
meta-pelitic and mica schists, and occasionally carbonate schists
of upper Ordovician to lower Devonian age. The pegmatites vary in
thickness from 5m-109m.
|
Drill hole
information
|
· A summary of all information
material to the under-standing of the exploration results including
a tabulation of the following information for all Material drill
holes:
· easting and northing of the
drill hole collar
· elevation or RL (Reduced
Level - elevation above sea level in metres) of the drill hole
collar
· dip and azimuth of the
hole
· down hole length and
interception depth
· hole
length
· If the exclusion of this
information is justified on the basis that the information is not
Material and this exclusion does not detract from the understanding
of the report, the Competent Person should clearly explain why this
is the case.
|
·
A table containing all drill holes drilled and a
list of significant assays from the results received is included
with the release.
·
No material data has been excluded from the
release.
.
|
Data aggregation
methods
|
· In reporting Exploration
Results, weighting averaging techniques, maximum and/or minimum
grade truncations (e.g. cutting of high grades) and cut-off grades
are usually Material and should be stated.
· Where aggregate intercepts
incorporate short lengths of high grade results and longer lengths
of low grade results, the procedure used for such aggregation
should be stated and some typical examples of such aggregations
should be shown in detail.
·
The assumptions
used for any reporting of metal equivalent values should be clearly
stated.
|
·
Length weighted average grades have been
reported.
·
No high-grade cuts have been applied to reported
grades.
·
Metal equivalent values are not being reported;
however, Li is reported as ppm and converted to the oxide
Li2O for resource purposes. The conversion factor used
is to divide the Li value by 10,000 and multiplying by 2.153 to
represent the value as a percentage.
|
Relationship between
mineralisation widths and intercept lengths
|
· These relationships are
particularly important in the reporting of Exploration
Results.
·
If the geometry
of the mineralisation with respect to the drill hole angle is
known, its nature should be reported.
· If it is not known and only
the down hole lengths are reported, there should be a clear
statement to this effect (e.g. 'down hole length, true width not
known').
|
·
The majority of holes have been drilled at angles
to intersect the mineralisation approximately perpendicular to the
orientation of the mineralised trend.
·
The geometry of the pegmatite at NOA is moderate
dipping to the northeast and some holes have drilled at a close
angle to the mineralisation in that part of the deposit.
|
Diagrams
|
· Appropriate maps and
sections (with scales) and tabulations of intercepts should be
included for any significant discovery being reported. These should
include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
|
· A
relevant plan showing the drilling is included within this
release.
|
Balanced
Reporting
|
·
Accuracy and
quality of surveys used to locate drill holes (collar and down-hole
surveys), trenches, mine workings and other locations used in
Mineral Resource estimation.
· Where comprehensive
reporting of all Exploration Results is not practicable,
representative reporting of both low and high grades and/or widths
should be practiced to avoid misleading reporting of Exploration
Results.
|
· All
relevant results available have been previously
reported.
|
Other substantive exploration
data
|
· Other exploration data, if
meaningful and material, should be reported including (but not
limited to): geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater,
geotechnical and rock characteristics; potential deleterious or
contaminating substances.
|
· Geological mapping and rock chip sampling has been conducted
over the project area.
|
Further
work
|
·
The nature and
scale of planned further work (e.g. tests for lateral extensions or
depth extensions or large- scale step-out
drilling).
·
Diagrams clearly
highlighting the areas of possible extensions, including the main
geological interpretations and future drilling areas, provided this
information is not commercially sensitive.
|
·
The present drill program has been designed to
infill previous drilling to attain a measured or indicated class
for an upcoming resource estimation. No immediate further work is
planned unless directed.
·
Economic evaluation of the defined Mineral
Resources.
|