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Savannah Resources looks to expand Lithium footprint in Portugal

David Archer, chief executive of Savannah Resources Plc (LON:SAV), tells Proactive Investors they've entered into a due diligence and option agreement with Portuguese company Aldeia & Irmão S.A. for the potential acquisition of a three-block mining lease near the Mina do Barroso lithium project.

Archer says the agreement gives them the opportunity to secure a possible extension to the Reservatorio lithium deposit and to identify additional deposits with at least five known spodumene bearing lithium pegmatites occurring in the tenure area.

He also recaps on the news from earlier this week highlighting what he describes as further encouraging results from the ongoing reverse circulation and diamond drill programme at the project.

Quick facts: Savannah Resources PLC

Price: 2.7 GBX

Market: AIM
Market Cap: £38.64 m

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Savannah Resources raise £2.3mln to support 'green transport revolution in...

Savannah Resources PLC's (LON:SAV) David Archer talks to Proactive London after raising £2.3m in a placing from both existing and new shareholders. The money raised will be put towards the Mina do Barroso project in Portugal as well as their Mutamba Mineral sands joint venture in...

on 9/9/20

2 min read