Savannah Resources PLC Primero Group Appointed Primary Engineering Group to Develop the Feasibility Study for the Mina do Barroso Lithium Project

Savannah’s CEO, David Archer said: “We are pleased to have commissioned Primero which is one of the global leaders in the evaluation, design and construction of hard rock, open-cut, spodumene mines like Mina do Barroso. Primero’s experience will be critical in guiding us towards our objective of being the first major producer of lithium in Western Europe by 2020.”

Savannah Resources plc (LON: SAV) , the AIM quoted resource development company, today announced that it has appointed experienced lithium consulting engineers Primero Group  to lead the Feasibility Study for the development of the Mina do Barroso Lithium Project in Portugal.

HIGHLIGHTS:

· The Feasibility Study will build on the excellent outcomes of the Scoping Study completed in June 2018, which confirmed Mina do Barroso has the potential to be a major European producer of spodumene (lithium)

· A mine and concentrator plant model will be further developed based around Mina do Barroso’s deposits for the production of a lithium concentrate with additional ceramic co-products

· Primero has an extensive track record in the assessment, design, delivery and operation of lithium projects globally and is currently partnered with Tawana, Galaxy, Pilbara Minerals and Piedmont

· Primero will also bring knowledge and understanding of specific ceramic related co-products such as feldspar and quartz and their processing

· Results of the Feasibility Study, which is fully funded following the Company’s recent £12.5 million (gross) fundraise, are expected to be available towards the end of Q1 2019

Scope of Work

The Feasibility Study will continue to develop Mina do Barroso to a level of detail adequate to support project financing. The study will cover the project setting, geology and resource definition, mining, metallurgy, processing, infrastructure, market review, capital and operating cost estimates, financial modelling, human resources, environmental, social aspects, project approvals, project risk review and project development plans.

Primero will take the lead role in the development of the Feasibility Study and will be supported by various sub-consultants that will provide specialist design services for specific areas of the project.

About Primero Group

Primero is a leading provider of diversified engineering services to the global resources industry, who specialise in the design, construction, operation and maintenance of mineral processing facilities and their associated infrastructure. Primero has multi-disciplinary engineering teams with a deep understanding of lithium projects and will apply this know-how to support the development of Mina do Barroso.

Primero brings valuable hard rock lithium experience to the Project, having been engaged on recent lithium projects in Australia, North America and South America at both the study and EPC project delivery level.

 

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    Lithium Scoping Study very positive The compliant Scoping Study on their 75% owned near surface Mina do Barroso hard rock lithium (spodumene) project in Portugal is very encouraging with a post-tax Internal Rate of Return (IRR) of 48.6%