Northland Capital Partners Limited Morning Report: Savannah Resources plc

Mina do Barroso updates

NORTHLAND VIEW

From Today:

  • Savannah Resources has commenced a bulk sample at NOA.
  • The Company has also identified the potential to sell feldspar and quartz (used in ceramics) to generate additional revenue, alongside the sale of a spodumene concentrate. The bulk sample will be used for metallurgical test work and test marketing for both the lithium and ceramics markets.

From Yesterday:

  • Ongoing drilling at Grandao Extended intersected further high-grade results: 50m at 1.18 Li2O from 72m, including 41m at 1.39% Li2O from 73m (18GRARC71); 26m at 1.06 Li2O from 71m, including 20m at 1.31% Li2O from 75m (18GRARC77); and 34m at 0.86 Li2O from 6m, including 17m at 1.31% Li2O from 17m (18GRARC71).
  • The updated Mineral Resource Estimate and Scoping Study are expected to be completed in Q218.

Progress at Mina do Barroso continues at a fast pace, as Savannah gets closer to commercialisation. The potential to sell feldspar and quartz as by-products of the lithium concentrate would not only increase revenue but also decrease the volume of tailings, potentially have a double impact on the Project. Grades from Grandao Extended show a high-grade core over a significant intercept within the wider lithium mineralisation.

COMPANY DESCRIPTION

Savannah Resources is an energy metals group with copper-gold projects located in Oman, lithium projects in Portugal, and a operates a mineral sands project in Mozambique that is a JV with Rio Tinto.

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