Savannah Resources PLC (LON:SAV)

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Savannah Resources PLC RNS Release

Further Zones of Lithium Mineralisation Discovered


RNS Number : 6029K
Savannah Resources PLC
17 December 2018
 

 

17 December 2018

 

Savannah Resources Plc

 

Further Zones of Lithium Mineralisation Identified at the Grandao and Pinheiro Deposits

Mina do Barroso Lithium Project ('MdB' or 'the Project'), Portugal

 

HIGHLIGHTS:

·    Reverse Circulation ('RC') and diamond drilling at both the Grandao and Pinheiro Deposits has returned a series of significant lithium intersections, confirming the potential of the project area

·    Key lithium intersections at Grandao include:

o 22.9m at 1.05% LiO from 84.1m in 18GRADD010

o 29.55m at 1.67% LiO from 95.45m in 18GRADD011

o 53.6m at 1.41% LiO from 65m in 18GRADD014*

o 20.7m at 1.21% LiO from 41.5m in18GRADD017**

o 28m at 1.17% LiO from 15m in 18GRARC118

o 18m at 1.47% LiO from 39m in 18GRARC119

o 27m at 1.41% LiO from 36m in 18GRARC120

·    Key Lithium intersections at Pinheiro include:

o 9m at 1.05% LiO from 39m in 18PNRRC012

o 27m at 0.91% LiO from 57m in 18PNRRC017

·    Drilling continues to expand both the Grandao and Pinheiro deposits with lithium mineralisation confirmed over significant strike lengths and grades at the Grandao deposit increasing with depth

·    RC drilling will commence on the Aldeia ground in early 2019

·    RC and diamond drilling at the project now total 295 holes for 24,723m

·    Phase 3 of the metallurgical test-work programme continues and is scheduled to be completed early next year

·    Drilling operations will take a break over the Christmas and New Year holiday for maintenance and crew holidays

 

*Twin of 18GRARC105 for metallurgical purposes

**Twin of 18GRARC63 for metallurgical purposes

 

Savannah Resources plc (AIM: SAV, FWB: AFM and SWB: SAV) ('Savannah' or the 'Company'), the resource development company, is pleased to announce further results from the ongoing reverse circulation and diamond drilling programme at the Mina do Barroso Lithium Project, located in northern Portugal (Figure 1).  To view the press release with the illustrative maps and diagrams please use the following link: 
http://www.rns-pdf.londonstockexchange.com/rns/6029K_1-2018-12-16.pdf

 

 

Savannah's CEO, David Archer said: "The ongoing drilling programme at Mina do Barroso continues to define excellent widths and grades of lithium mineralisation at both the Grandao and Pinheiro deposits. Thanks to much of the resource definition work and geotechnical drilling to support the definitive feasibility study being largely complete, we anticipate a slower drilling tempo at the C-100 Mining Lease in 2019.

 

"Over the past months we have had three drill rigs on site and we will be looking to work with the RC rig and only one diamond rig next year.  In 2019, we plan for the RC rig to initially drill test the Aldeia ground whereas the diamond rig will focus on obtaining material for the ongoing metallurgical test-work programme as well as some geotechnical drilling.

 

"The year 2018 has been exceptional for the metres drilled and the resource defined in such a quick time and we look forward to continuing excellent progress for the Project next year.''

 

Further Information

A total of 295 holes for 24,723m have been drilled to date at Mina do Barroso as part of the ongoing RC and diamond drill programme primarily focused on the Grandao, Reservatorio and NOA deposits.

 

The results from the recent RC and diamond drilling at Grandao and Pinheiro have now been received with diamond drilling ongoing at Grandao with a series of diamond tails being completed on some original RC drill holes and geotechnical drilling now well advanced at both Reservatorio and Grandao.

 

Figure 1. Mina do Barroso Project Summary Map showing Prospects and Drilling Completed

 

Grandao Diamond Drilling

Diamond drilling continued at Grandao with the aim of completing geotechnical testing, infill drilling of deep sections of the mineralisation and the gathering of samples for metallurgical testing.  The geotechnical drilling was aimed at gathering structural data and collecting samples to get an understanding of the mechanical properties of the rock that will make up the wall of the proposed stage 1 pit; the results are currently with Knight Piesold for detailed evaluation.

 

The infill drilling was carried out to target the continuity of the west dipping pegmatite ore body at depth to get a better understanding of the continuity of mineralisation for future mine planning.  The results have been very encouraging with 22.9m @ 1.05% Li2O from 84m in 18GRADD010, 29.55m @ 1.67% Li2O from 95.45m in 18GRADD011, and 20.7m @ 1.21% Li2O from 41.5m in 18GRADD017.  The results have demonstrated that the mineralisation has very good continuity to the west, showing some significant increase in grade at depth.

 

Metallurgical testing as part of a feasibility programme has meant that considerable quantities of fresh pegmatite material are required to get a good understanding of the mineralisation properties for further processing.  This has resulted in the need to produce high quality un-weathered sample from diamond drill core.   A programme of diamond drilling to produce this sample was initiated, which often required the twining of holes with known Li₂O content to expedite the sampling procedure.  These samples have been sent to Nagrom in Perth and are currently being used for testing.

 

Grandao RC drilling

The focus of the RC drilling at Grandao has been to intercept the pegmatite within the areas of the mineralised body that will be mined to get a better understanding of the continuity of lithium mineralisation.  The RC rig has also been used to assist in drilling deeper targets that will be completed with the diamond drill rig, which helps to reduce costs and time in getting to the deeper target zone.  The results from the infill drilling have been encouraging with results up to 28m @ 1.17% Li₂O from 15m in 18GRARC118, 27m @ 1.41% Li₂O from 36m in 18GRARC120.

 

Table 1. Summary of diamond drill results for Grandao using a 0.5% Li2O cut-off

Hole ID

Prospect

Easting

Northing

rL

Azimuth

Dip

EOH

From (m)

To (m)

Down hole

Grade

 

 

 

 

(Deg)

(Deg)

(m)

 

 

Interval (m)

% Li2O

18GRADD008

Grandao

601992

4608025

592

231

-65

100.30

35.25

52.75

17.50

1.13

18GRADD009

Grandao

601612

4607986

502

70

-65

111.15

45.20

53.50

8.30

1.12

 

 

 

 

 

 

 

 

55.90

60.00

4.10

0.98

 

 

 

 

 

 

 

 

82.00

88.10

6.10

0.85

18GRADD010

Grandao

601743

4607748

566

90

-65

157.80

84.10

107.00

22.90

1.05

18GRADD011

Grandao

601530

4608002

505

80

-65

179.30

95.45

125.00

29.55

1.67

18GRADD012

Grandao

601747

4607746

566

270

-70

183.15

43.00

48.70

5.70

1.13

 

 

 

 

 

 

 

 

57.80

62.00

4.20

1.37

 

 

 

 

 

 

 

 

110.80

115.00

4.20

0.90

 

 

 

 

 

 

 

 

157.20

165.15

7.95

1.36

18GRADD014*

Grandao

601695

4608035

526

311

-65

119.20

65.00

118.60

53.60

1.34

18GRADD016

Grandao

601760

4608019

547

0

-90

63.40

3.70

40.00

36.30

0.94

 

 

 

 

 

 

 

 

50.90

55.25

4.35

1.30

18GRADD017**

Grandao

601669

4607898

528

90

-65

100.10

41.50

62.20

20.70

1.21

 

* twin of 18GRARC105 for metallurgical purposes

 

 

** twin of 18GRARC63 for metallurgical purposes

 

                         

 

Table 2. Summary of RC drill results for Grandao using a 0.5% Li2O cut-off 

Hole ID

Prospect

Easting

Northing

rL

Azimuth

Dip

EOH

From (m)

To (m)

Down hole

Grade

 

 

 

 

(Deg)

(Deg)

(m)

 

 

Interval (m)

% Li2O

18GRARC117

Grandao

601785.45

4607933.73

533.78

105

-60

116.00

4.00

10.00

6.00

0.89

 

 

 

 

 

 

 

 

32.00

36.00

4.00

0.60

18GRARC118

Grandao

601736.91

4607928.68

517.46

115

-60

63.00

15.00

43.00

28.00

1.17

18GRARC119

Grandao

601733.59

4607930.58

517.83

295

-65

80.00

18.00

28.00

10.00

1.25

 

 

 

 

 

 

 

 

39.00

57.00

18.00

1.47

18GRARC120

Grandao

601733.80

4607987.78

532.95

119

-75

249.50

36.00

63.00

1.41

18GRARC121

Grandao

601581

4608181.00

539.00

0

-90

139.70

No Significant Assays

 

18GRARC122

Grandao

601543

4607865.00

534.00

270

-72

200.30

No Significant Assays

 

18GRARC123

Grandao

601768

4607861

519

100

-60

75.00

8.00

18.00

10.00

1.00

 

 

 

 

 

 

 

 

32.00

40.00

8.00

1.31

 

 

 

 

 

 

 

 

46.00

58.00

12.00

1.20

18GRARC124

Grandao

601715

4607845

530

103

-70

188.00

45.00

49.00

4.00

0.65

 

 

 

 

 

 

 

 

58.00

63.00

5.00

1.13

 

Figure 2. Summary of drilling at Grandao showing significant assay results

 

Pinheiro RC Drilling

 

The awaited results from the remaining four drill holes for Pinheiro have now been received (Table 3 and Figure 3).

 

The results of the first phase of exploratory drilling at Pinheiro outline a significant zone of lithium bearing pegmatite.  The drilling was aimed at getting an understanding of the geometry of the pegmatite to determine the continuity of the mineralisation at depth.  Significant results from the outstanding four drill holes include 9m @ 1.05% Li₂O from 39m in 18PNRRC012 and 27m @ 0.91% Li₂O from 57m in 18PNRRC014.  Drilling also located another

unknown pegmatite further to the east and further work is needed to determine its extent.

 

 Table 3. Summary of drill results for Pinheiro using a 0.5% Li2O cut-off 

Hole ID

Prospect

Easting

Northing

rL

Azimuth

Dip

EOH

From (m)

To (m)

Down hole

Grade

 

 

 

 

(Deg)

(Deg)

(m)

 

 

Interval (m)

% Li2O

18PNRRC012

Pinheiro

601575

4606855

585

270

-60

132.00

39.00

48.00

9.00

1.05

18PNRRC013

Pinheiro

Hole abandoned due to technical problems 

 

 

 

 

 

18PNRRC014

Pinheiro

601578

4606857

585

0

-90

123.00

57.00

84.00

27.00

0.91

18PNRRC015

Pinheiro

601675.83

4606842.85

3.387

274

-60

93

No Significant Assays 

18PNRRC016

Pinheiro

601677.00

4606842.00

603.00

274

-80

132.00

91.00

99.00

8.00

0.85

18PNRRC017

Pinheiro

601530.76

4606855.06

579.97

270

-60

165

No Significant Assays 

 

Figure 3. Summary of drilling at Pinheiro showing significant assay results

 

Competent Person and Regulatory Information

 

The information in this announcement that relates to exploration results is based upon information compiled by Mr Dale Ferguson, Technical Director of Savannah Resources Limited.  Mr Ferguson is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the December 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code).  Mr Ferguson consents to the inclusion in the report of the matters based upon the information in the form and context in which it appears.

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

 

**ENDS**

 

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

Lottie Wadham / Cosima Akerman (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 the communities we work with and our staff.

 

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".

APPENDIX 1 - JORC 2012 Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria

JORC Code explanation

Commentary

Sampling techniques

·   Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

·    RC samples were collected at 1m intervals in large plastic bags from an on-board rig splitter and a 4-6kg representative sample taken for analysis.

·    Diamond holes were completed at PQ or HQ size, sampled at nominal 1m intervals in the pegmatite, with boundaries sampled to geological boundaries. Half core samples were collected for analysis.

 

·   Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

·    Drilling was conducted on a nominal 80m by 40m spacing based on geological targets using RC drilling technology, an industry standard drilling technique. Drilling rods are 3m long and 1 sample is taken for each rod interval.

·    Collar surveys are carried using hand held GPS with an accuracy to within 5m, and the z direction was determined by satellite derived elevation data and is accurate to less than a metre. 

·    A downhole survey for each hole was completed

 

·   Aspects of the determination of mineralisation that are Material to the Public Report.

·   In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.

·    The lithium mineralization is predominantly in the form of Spodumene-bearing pegmatites, the pegmatites are unzoned and vary in thickness.

·    Down hole sampling is carried out on either a 1 or 4m interval from which 4-6kg of pulverized material (RC) was pulverized to produce a 50g charge for assaying

 

Drilling techniques

·   Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).

·     RC drilling at a diameter of 120mm is a form of reverse circulation drilling requiring annular drill rods. Compressed air is pumped down the outer tube and the sample is collected from the open face drilling bit and blown up the inner tube.

Drill sample recovery

·   Method of recording and assessing core and chip sample recoveries and results assessed.

 

·     Field assessment of sample volume. A theoretical dried sample mass was estimated to be within the range of 18 kg to 24 Kg, 70% of samples are within the expected range. Lower than average sample recovery is recorded only for the very top of the drill hole due to air and sample losses into the surrounding soil

 

·   Measures taken to maximise sample recovery and ensure representative nature of the samples.

·     RC drilling sample weights were monitored to ensure samples were maximized. Samples were carefully loaded into a splitter and split in the same manner ensuring that the sample split to be sent to the assay laboratories were in the range of 4-6kg.

 

·   Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

·     No obvious relationships

 

Logging

·   Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

·   Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

·   The total length and percentage of the relevant intersections logged.

·     RC holes were logged in the field at the time of sampling.

·     Each 1m sample interval was carefully homogenized and assessed for lithology, colour, grainsize, structure and mineralization.

·     A representative chip sample produced from RC drilling was washed and taken for each 1m sample and stored in a chip tray which was photographed

Sub-sampling techniques and sample preparation

·   If core, whether cut or sawn and whether quarter, half or all core taken.

·   If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

·     RC samples were split by the rotary splitter on the drill rig and sampled dry

 

·   For all sample types, the nature, quality and appropriateness of the sample preparation technique.

·     The sampling was conducted using industry standard techniques and were considered appropriate

 

·   Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

·     The 4m composites were collected using a spear with the spear inserted into the bag at a high angle and pushed across the sample to maximise representivity of the sample

 

·   Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.

·     Every effort was made to ensure that the samples were representative and not bias in anyway

 

·   Whether sample sizes are appropriate to the grain size of the material being sampled.

·     All samples were taken once they went through the on-board splitter from the drill rig. Depending on the rock types on average a 4-6kg sample was sent to the lab for analysis and the remaining material averaged 18-24kg and remains stored on site for any further analysis required

Quality of assay data and laboratory tests

·   The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

·    Samples were received, sorted, labelled and dried

·     Samples were crushed to 70% less than 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns and 5g was split of for assaying

·     The samples were analysed using ALS laboratories ME-MS89L Super Trace method which combines a sodium peroxide fusion with ICP-MS instrumentation utilizing collision/reaction cell technologies to provide the lowest detection limits available.

·     A prepared sample (0.2g) is added to sodium peroxide flux, mixed well and then fused in at 670°C. The resulting melt is cooled and then dissolved in 30% hydrochloric acid. This solution is then analysed by Inductively Coupled Plasma - Mass Spectrometry and the results are corrected for spectral inter-element interferences.

·     The final solution is then analysed by ICP-MS, with results corrected for spectral inter-element interferences.

 

·   For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.

·     Not used

 

·   Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.

·     Standards/blanks and duplicates we inserted on a 1:20 ratio for both to samples taken

·     Duplicate sample regime is used to monitor sampling methodology and homogeneity.

·    A powder chip tray for the entire hole is completed for both RC and RAB. A sub-sample is sieved from the large RC bags at site into chip trays over the pegmatite interval to assist in geological logging. These are photographed and kept on the central database

·    Routine QA/QC controls for the method ME-MS89L include Blanks, certified reference standards of Lithium and duplicate samples. Samples are assayed within runs or batches up to 40 samples. At the fusion stage that quality control samples are included together with the samples, so all samples follow the same procedure until the end. Fused and diluted samples are prepared for ICP-MS analysis. ICP instrument is calibrated through appropriate certified standards solutions and interference corrections to achieve strict calibration fitting parameters. Each 40 samples run is assayed with 2 blanks, 2 certified standards and one duplicate samples and results are evaluated accordingly.

·    A QA/QC review of all information indicated that all assays were inside reasonable tolerance levels.

Verification of sampling and assaying

·   The verification of significant intersections by either independent or alternative company personnel.

·     All information was internally audited by company personnel

 

 

·   The use of twinned holes.

·     Several historical holes we twinned for comparison purposes with the modern drilling

 

·   Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

·    Savannah's experienced project geologists supervise all processes.

·    All field data is entered into a custom log sheet and then into excel spreadsheets (supported by look-up tables) at site and subsequently validated as it is imported into the centralized Access database.

·    Hard copies of logs, survey and sampling data are stored in the local office and electronic data is stored on the main server.

 

·   Discuss any adjustment to assay data.

·     Results were reported as Li(ppm) and were converted to a percentage by dividing by 10,000 and then to Li2O% by multiplying by 2.153

Location of data points

·   Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

·   Specification of the grid system used.

·   Quality and adequacy of topographic control.

·     The coordinate of each drill hole was taken at the time of collecting using a handheld GPS with an accuracy of 5m.

·     The grid system used is WSG84

·    Topographic accuracy was +/- 5m

Data spacing and distribution

·   Data spacing for reporting of Exploration Results.

·   Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

·   Whether sample compositing has been applied.

·     Drilling was on a nominal 80m by 40m spacing and based on geological targets

·     Drill data is not currently at sufficient spacing to define a mineral resource.

·    Some samples were composited on a 4m basis based on geological criteria, these areas were all outside the pegmatite bodies where 1m sampling was completed

Orientation of data in relation to geological structure

·   Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

·   If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.

·     Drilling was orientated perpendicular to the known strike of the pegmatites

·     Drill holes we orientated at either -60 degrees or -90 degrees depending on the dip of the pegmatite in an attempt to get drill holes as close to true width as possible

Sample security

·   The measures taken to ensure sample security.

·     Samples were delivered to a courier and chain of custody is managed by Savannah.

Audits or reviews

·   The results of any audits or reviews of sampling techniques and data.

·     Internal company auditing

 

 

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

·   Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

·   The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.

·     All work was completed inside the 75% owned Mina do Barroso project C-100

 

Exploration done by other parties

·   Acknowledgment and appraisal of exploration by other parties.

·    N/A

Geology

·   Deposit type, geological setting and style of mineralisation.

·     The lithium mineralization is predominantly in the form of Spodumene-bearing pegmatites which are hosted in meta-pelitic and mica schists, and occasionally carbonate schists of upper Ordovician to lower Devonian age. The pegmatites are unzoned and vary in thickness from 15m-120m. Lithium is present in most aplite compositions.

Drill hole Information

·   A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

o easting and northing of the drill hole collar

o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

o dip and azimuth of the hole

o down hole length and interception depth

o hole length.

·   If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

·     Grid used WSG84

·     No material data has been excluded from the release

·     All hole details are in Table 1 of the main release

 

 

Data aggregation methods

·   In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.

·   Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

·   The assumptions used for any reporting of metal equivalent values should be clearly stated.

·     High Grade Intercepts are weighted averages using a 0.5% Li₂O cut off with no more than 2m of internal dilution

·     Narrow zones of schist (less than 5m) have been included in the significant intercepts where they are mineralised

 

Relationship between mineralisation widths and intercept lengths

·   These relationships are particularly important in the reporting of Exploration Results.

·   If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

·   If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').

·     Exploration results are reported as down hole intercepts

·     No metal equivalent values have been used.

·     The drill holes are detailed in the table in the main release and the pegmatite at Reservatorio appears to dip at around 40degrees to the north west and at Grandao dips shallowly to the west to south west

Diagrams

·   Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.

·     Relevant diagrams and maps have been included in the main body of the release.

Balanced reporting

·   Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.

·     All relevant results available have been reported.

Other substantive exploration data

·   Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.

·     The interpretation of the results is consistent with the observations and information obtained from the data collected.

Further work

·   The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).

·   Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

·     Further rock chip sampling, channel sampling and RC drilling. Once planning has been completed the detail will be provided

 


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