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Savannah Resources hits "some of best grades ever seen in Europe" at lithium deposit in Portugal

“These intercepts represent some of the best lithium spodumene intersections ever reported for a European deposit”
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Savannah Resources Plc (LON:SAV) has found some of the highest grades of lithium oxide ever seen in Europe from its latest drilling programme in Portugal.

Significant intersections of lithium mineralisation were crossed from a shallow drilling programme at Mina do Barroso, which Savannah now describes as outstanding deposit.

READ: Savannah Resources consortium commissions pilot plant at Mutamba

“These intercepts represent some of the best lithium spodumene intersections ever reported for a European deposit,” it said.

Drill results from three deposits, Grandao, Reservatorio and NOA, are now being targeted to confirm the potential.

Grandao returned a mineralised zone of over 100m, with the broadest and most significant results for the project to date.

Grades included 52m in one hole at 1.32% lithium oxide and 71m at 1.06% in another, with a high grade zone of more than 2.1% Li₂O in a third hole.

An additional 16 holes have been added to the drilling programme to help outline the full potential of the Grandao deposit, with geological specialists brought in to help with the development.

Reservatorio also saw lithium oxide grades of more than 1% with a maiden resource expected by the end of 2017

At NOA, the drilling of a further 6 holes has confirmed the presence of lithium mineralisation over a 200m strike length.

READ: Savannah Resources hopes to release maiden JORC resource for Mina de Barroso before end of 2017

David Archer, Savannah’s chief executive said: "We believe these are outstanding results that represent some of the best lithium spodumene intersections ever reported for a European deposit.

“Additionally, they highlight the potential of the extensive pegmatite systems in the northern part of Portugal to host major deposits of lithium.” 

"The results from Grandao are particularly exciting as there are some exceptional widths and high-grades reported and the geometry of what we are seeing suggests that there is potential for a low stripping ratio, open-cut mine development.

“It is important to remember that all of the results are from deposit areas for which we have a granted mining lease.

Archer added Mina do Barroso might be similar to the very successful Australian hard-rock, open cut mine developments which produce highly sought-after lithium spodumene concentrates for international markets.

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