Savannah Resources PLC (LON:SAV)

Savannah Resources PLC (LON:SAV)


Share Price
5.70 p
Change
-0.05 (-0.87 %)
Market Cap
£50.24 m
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Savannah Resources PLC RNS Release

Cooperation Agreement with Porto University & LNEG


RNS Number : 7445K
Savannah Resources PLC
18 December 2018
 

 

18 December 2018

Savannah Resources Plc

 

Cooperation Agreement signed with University of Porto and Laboratorio Nacional de Energia e Geologia, Mina do Barroso Lithium Project, Portugal

 

Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah') or the 'Company'), the AIM quoted resource development company, which is focused on becoming Europe's most significant producer of lithium spodumene concentrates from its Portuguese Mina do Barroso Project ('Mina do Barroso' 'MdB' or 'the Project'), is pleased to announce it is working with the Laboratorio Nacional de Energia e Geologia ('LNEG') and Faculty of Sciences from the University of Porto ('the Partners') and to date has concluded a preliminary mineralogy study and a first draft processing flowsheet for the treatment, recovery and concentration of spodumene from samples of Grandao and NOA deposits at MdB.

 

To view the announcement with illustrative images, please use the following link: http://www.rns-pdf.londonstockexchange.com/rns/7445K_1-2018-12-17.pdf

 

Highlights:

·    Savannah has agreed "The Protocol of Cooperation" (Protoclo de Cooperação) with the Partners ('the Agreement') which formalises the working relationship and builds upon the fieldwork which has been carried out to date

·    LNEG is a Governmental Research and Development ('R&D') institution geared towards meeting the needs of society and companies and has significant experience in the lithium processing technologies

·     The Faculty of Sciences of the University of Porto was established in 1911 and has maintained its unique position in providing quality training in Exact Sciences, Natural Sciences and Mathematics

·    This co-operation is illustrative of the high calibre lithium technical grouping Savannah is establishing in Portugal

 

Savannah's Technical Director, Dale Ferguson said: "We were delighted to enter into this Agreement with these two prestigious organisations within Portugal.  Both have strong track records, including that Professor Noronha of the University of Porto discovered the presence of lithium in Portugal at the Grandao location around thirty years ago.  This Agreement formalises the work that has been undertaken to date and we believe notable benefits so far have been achieved for the Project such as the noteworthy metallurgical outcomes that have been attained.

 

"The Portuguese Government supports the development of the lithium industry in Portugal as evidenced by the recent Government approval in the Council of Ministers of the 'strategic guidelines for the valorisation of the potential of lithium minerals in Portugal'".

 

 

 

Figure 1: Signing Ceremony for the Protocol of Cooperation (Protocolo de Cooperação)

 

About the Partners in the Protocol Feasibility Study consultancy groups:

 

Faculty of Sciences from the University of Porto

The Faculty of Sciences of the University of Porto ('FCUP') was established in 1911 and since its inception in 1911, FCUP has maintained its unique position in providing quality training in Exact Sciences, Natural Sciences and Mathematics. In the last 100 years, FCUP has grown and developed, extending the scope of its competences to Geographical Engineering, Astronomy, Computer Sciences and Informatics, Biochemistry, Landscape Architecture, Environmental Sciences and Agricultural Sciences.

https://sigarra.up.pt/fcup/pt/WEB_BASE.GERA_PAGINA?P_PAGINA=1182

 

Spodumene was found in 1988 by Professor Fernando Noronha, an official collaborator of the Geological Survey of Portugal, in the Barroso Region during the course of the geological mapping work carried out within the scope of the 1:50,000 scale mapping.

 

Laboratorio Nacional de Energia e Geologia

LNEG is a Governmental R&D institution geared towards meeting the needs of society and companies. Betting on sustainable research and sustainability through the generation of knowledge of the Portuguese territory, and has a large experience in the lithium processing techniques and technologies.

http://www.lneg.pt/lneg/

 

Regulatory Information

 

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/ Gaby Jenner (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: SAV, and the Börse Stuttgart (SWB) under the ticker "SAV".


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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