Savannah reports ‘siginificant’ lithium intersections at Portugal project

The reverse circulation drill programme for the Mina do Barroso lithium project, in Portugal, has returned significant intersections of lithium mineralisation, Aim-quoted Savannah Resources reported on Wednesday.

The company has completed a further 27 holes for 2 566 m, with assays for the first 11 holes confirming extensions to the existing mineralisation.

At the Reservatorio deposit, drilling extended lithium mineralisation to more than 400 m strike length, with down dip extensions of at least 150 m. Results from the second round drilling include 29 m at 1.07% Li2O from 43 m in 17RESRC10 and 35 m at 1.06% Li2O from 56 m in 17RESRC11.

At the NOA deposit, drilling has confirmed the presence of lithium mineralisation over a 100 m strike length together with down dip extensions of at least 50 m. Results received to date include 113 m at 1.19% Li2O from 7 m in 17NOARC03 and 11 m at 1.23% Li2O from 46 m in 17 NOARC04.

Savannah reported that the Reservatorio, Grandao and NOA deposits remained open along strike and down dip, leaving upside potential for all deposits.

A maiden mineral resource estimate for Reservatorio is expected by the end of the year.

“The drilling results to date continue to underscore the potential of the Mina do Barroso Project to be a strategic upstream feature in the European lithium value chain. From an investment perspective, we see the project as the closest European analogue to the very successful Australian hard-rock, opencut mine developments, which produce highly sought-after lithium spodumene concentrates for international markets.

“Drilling and metallurgical test work is ongoing and will be used to support an early scoping study around a potential mine development,” said Savannah CEO David Archer.

Source: miningweekly