Highlights

• Continued resource expansion at Mina do Barroso, located in northern Portugal confirms it as Western Europe's largest spodumene lithium Mineral Resource
• ~64% increase in the total Mineral Resource Estimate at Grandao Deposit to 16.4Mt at 1.04% Li₂O for a total contained Li₂O of 171,400t
• ~44% increase in overall Mineral Resource Estimate for the Project, which now stands at 20.1Mt at 1.04% Li₂O for 209,000t of contained Li₂O
• ~90% of the mineralisation within the Stage 1 Grandao pit, defined as part of the recent Scoping Study, now converted to Measured and Indicated Resource Estimates, which represents the first 4-5 years of the mining inventory based on average annual production of ~175,000tpa of spodumene concentrate at 6% Li₂O
• At Grandao, significant volumes of new mineralisation has been identified below the Stage 1 and 2 pits, defined during the Scoping Study, supporting the excellent potential to further expand the current mining inventory
• Updated Exploration Target* 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

• Significant upside remains and further Mineral Resource Estimate updates are expected during 2018. Highlights include:
  • Infill and expansion drilling underway at the Reservatorio Deposit to convert the Stage 1 pit defined as part of the Scoping Study into Measured and Indicated category Mineral Resource Estimates and test for potential extensions
  • Excellent potential for new discoveries of additional lithium bearing pegmatite bodies
• Feasibility Study on track for completion late Q1 2019 to build upon results of the Scoping Study in June 2018, which demonstrated an excellent base case pre-tax NPV₈ of US$356m and IRR of 63% based on the previous Resource Estimate of 14Mt at 1.1% Li₂O

 
*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.
 
Savannah 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 Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project'), located in northern Portugal.
 
Savannah's CEO, David Archer said: "Today's Mineral Resource Estimate increase, shows that Mina do Barroso is shaping up to be Europe's most strategically significant mineral discovery in recent years. The increasing Mineral Resource base of the Project means we have a long-life asset that can anchor the up-stream end of the European lithium value chain, with Europe being the second largest consumer of lithium in the world.
 
"Mina do Barroso has grown remarkably over the last 12 months with this being the third Mineral Resource Estimate upgrade in less than seven months; this is testament to both the quality of our Project and skill set of our team.  There is considerable potential to expand the Mineral Resource Estimate even further, as highlighted by the 9Mt to 15Mt Exploration Target, and our intensive round of drilling continues with three drill rigs on site.  Alongside this, at a commercialisation level we are making good progress with the Feasibility Study and continue to target making a mine development decision next year.
 
"Today's results highlight Mina do Barroso as what we believe to be an outstanding lithium project."
 
Bitte klicken Sie auf den folgenden Link zur vollstaendigen Pressemitteilung:
http://www.rns-pdf.londonstockexchange.com/rns/1974A_1-2018-9-8.pdf
 
For further information please visit www.savannahresources.com or contact:
 

David Archer	Savannah Resources plc	Tel: +44 20 7117 2489
David Hignell / Dugald J. Carlean (Nominated Adviser)	Northland Capital Partners Ltd	Tel: +44 20 3861 6625
Christopher Raggett / Camille Gochez (Broker)	finnCap Ltd	Tel: +44 20 7220 0500
Grant Barker (Equity Adviser)	Whitman Howard	Tel: +44 020 7659 1225
Charlotte Page / Lottie Wadham (Financial PR)	St Brides Partners Ltd	Tel: +44 20 7236 1177

 
 
About Savannah
Savannah is a diversified resources group (AIM: SAV) with a portfolio of energy metals projects - lithium in Portugal and copper in Oman - together with the world-class Mutamba Heavy Mineral Sands Project in Mozambique, which is being developed in a consortium with the global major Rio Tinto.  The Board is committed to serving the interests of its shareholders and to delivering outcomes that will improve the lives of our staff and the communities we work with.
 
The Company is listed and regulated on AIM and the Company's ordinary shares are also available on the Quotation Board of the Frankfurt Stock Exchange (FWB) under the symbol FWB: AFM, and the Börse Stuttgart (SWB) under the ticker "SAV".