And meanwhile, Savannah resources is powering along...
NEWS ARTICLE:
LONDON (Alliance News) - Savannah Resources PLC said Monday further drilling at its flagship Mina do Barroso lithium project is continuing to show "significant" intersections of lithium mineralisation.
Savannah has drilled a total of 87 holes to date across the three primary targets at Mina do Barroso, located in northern Portugal, the three being Grandao, Reservatorio, and NOA.
Significant lithium mineralisation identified at Grandao includes 59 metres at 1.1% of lithium oxide from five metres in the 17GRARC31 hole and 33m at 1.2% lithium oxide from 40m in 17GRARC41.
Other results include 31m at 1.1% lithium oxide from 40m in 17GRARC25, and 32m at 0.9% lithium oxide from 35m at 17GRARC38.
Savannah said exploration efforts are to be accelerated, with a diamond drill rig in the second half of February to test depth extensions at Grandao and begin collecting samples for the next phase of metallurgical work.
On the NOA deposit, the drilling of six further holes confirmed lithium over a 200m strike length with dip down extensions of at least 50m. Results include 15m at 0.8% lithium oxide from 5m at 17NOARC06, including 9m at 1.3% lithium oxide, and 14m at 0.7% lithium oxide from 19m at 17NOARC10.
Phase two of Savannah's metallurgical test work programme is underway, and samples from the three targets are being tested, with results due in the first quarter of 2018.
New high-priority targets have been identified to the north-east of Grandao: Romainho, Campo de Futebol, and Peigro Negro. The company is also on track for a Grandao new mineral resource estimate in the first quarter of this year.
Savannah received the maiden mineral resource estimate for Reservatorio in December, showing a maiden estimate of 3.2 million tonnes at 1.0% lithium oxide, containing a total of 32,000 tonnes of lithium oxide.
Chief Executive David Archer said: "We are delighted to see the expanding geometry of Grandao with both near surface and deeper mineralisation. The Grandao deposit is shaping up as a major additional component to the overall global mineral resource for the Mina do Barroso lithium project.
"The overall tempo of activities continues to accelerate as the project's potential becomes more apparent. We are working to an aggressive timetable to deliver on a series of major milestones over coming months, which we believe will highlight the project's potential to be a key, up-stream component of the European lithium valued added chain."
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