TIDMSAV
RNS Number : 1592X
Savannah Resources PLC
22 November 2017
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector:
Mining
22 November 2017
Savannah Resources Plc
Further Encouraging Lithium Results Returned from Mina do
Barroso Lithium Project, Portugal
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'),
the AIM quoted resource development company, is pleased to announce
further results from the ongoing reverse circulation ('RC') drill
programme for the Mina do Barroso Lithium Project ('Mina do
Barroso' or the 'Project') in Portugal (Figure 1). The drill
programme, which is aimed at defining a JORC - 2012 compliant
Mineral Resource Estimate, has returned significant intersections
of lithium mineralisation. To view the press release with the
illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1592X_-2017-11-21.pdf
HIGHLIGHTS:
-- Completed a further 27 holes for 2,566m with assays for the
first 11 holes confirming extensions to the existing
mineralisation
-- Reservatorio Deposit: drilling significantly extends lithium
mineralisation to over 400m strike length, with good down dip
extensions of at least 150m. Results from the second round of
drilling to date include:
- 29m at 1.07% Li O from 43m in 17RESRC10
- 35m at 1.06% Li O from 56m in 17RESRC11
-- NOA Deposit: drilling has confirmed the presence of lithium
mineralisation over a 100m strike length together with good down
dip extensions of at least 50m. Results received to date from the
second round of drilling include:
- 13m at 1.19% Li O from 7m in 17NOARC03
- 11m at 1.23% Li(2) O from 46m in 17NOARC04
-- The Reservatorio, Grandao and NOA deposits remain open along
strike and down dip leaving excellent upside potential for all
deposits
-- Maiden Mineral Resource Estimate for Reservatorio expected by the end of 2017
-- Further mapping at five additional high priority targets,
some with significant historical drill intersects, has also
commenced to fast track the targets to drilling
-- Phase 2 of the Metallurgical Test Work programme is due to
get underway at Nagrom in Perth by the end of November 2017
Savannah's CEO, David Archer said: "The drilling results to date
continue to underscore the potential of the Mina do Barroso Project
to be a strategic upstream feature in the European lithium value
chain. From an investment perspective, we see the Project as the
closest European analogue to the very successful Australian
hard-rock, open cut mine developments which produce highly
sought-after lithium spodumene concentrates for international
markets.
"Drilling and metallurgical test work is ongoing and will be
used to support an early scoping study around a potential mine
development."
Figure 1. Mina do Barroso Project Summary Map showing prospects
and 2017 drilling - see PDF link
Reservatorio
A further 12 drill holes for 1,322m have now been completed at
Reservatorio. Assay results from the first six holes have now been
received and have confirmed significant extensions to the already
identified lithium mineralisation (Table 1-2 and Figure 2-3) in
pegmatite, with mineralisation now defined along a 400m strike
length and to at least 150m down dip confirming the potential for
good depth extensions of the lithium mineralisation. Drilling in an
area of faulting and shearing on the eastern part of the pegmatite
has caused the pegmatite to become weathered resulting in some
zones of near surface depletion. Further infill drilling is now
required to further define these zones.
Table 1. Summarised downhole geology for recent Reservatorio
Drilling
HOLE SUMMARISED DOWNHOLE GEOLOGY
ID
---------- ---------------------------------------------
17RESRC09 Pegmatite/Schist 0-13m; Pegmatite/Schist
19-20m; Pegmatite 20-25m; Pegmatite/Schist
25-26m; Pegmatite/Schist 32-33m; Pegmatite
33-52m; Pegmatite/Schist 52-53m
---------- ---------------------------------------------
17RESRC10 Pegmatite/Schist 19-21m; Pegmatite 21-35m;
Pegmatite/Schist 35-37m; Pegmatite/Schist
39-40m; Pegmatite/Schist 42-43m; Pegmatite
43-56m; Pegmatite/Schist 56-58m; Pegmatite
58-72m; Pegmatite/Schist 75-80m
---------- ---------------------------------------------
17RESRC11 Pegmatite/Schist 21-23m; Pegmatite/Schist
54-60m; Pegmatite 60-87m; Pegmatite/Schist
87-90m; Pegmatite 90-91m; Pegmatite/Schist
91-92m; Pegmatite/Schist 100-103m
---------- ---------------------------------------------
17RESRC12 Pegmatite/Schist 30-31m; Pegmatite 31-66m;
Pegmatite/Schist 66-67m
---------- ---------------------------------------------
17RESRC13 Pegmatite/Schist 4-7m; Pegmatite 7-34m
---------- ---------------------------------------------
17RESRC14 Pegmatite/Schist 16-19m; Pegmatite/Schist
33-36m; Pegmatite 36-42m; Pegmatite 47-66m;
Pegmatite/Schist 66-68m
---------- ---------------------------------------------
Table 2. Summary of drill results for Reservatorio reported at a
0.2% and 0.5% Li(2) O cut-off
Prospect Hole ID 0.2% Li(2) O Cut 0.5% Li(2) O Cut
Off Off
------------- ---------- ------------------ ------------------
Reservatorio 17RESRC09 4m at 0.29% Li(2) 11m @ 0.84% Li(2)
O from 22m O from 35m
------------- ---------- ------------------ ------------------
14m @ 0.71% Li(2) 1m @ 0.87% Li(2)
O from 32m O from 50m
------------- ---------- ------------------ ------------------
4m at 0.34% Li(2)
O from 49m
------------- ---------- ------------------ ------------------
Reservatorio 17RESRC10 1m at 0.2% Li(2) 29m @ 1.07% Li(2)
O from 36m O from 43m
------------- ---------- ------------------ ------------------
29m @ 1.07% Li(2) 2m @ 1.13% Li(2)
O from 43m O from 76m
------------- ---------- ------------------ ------------------
4m @ 0.68% Li(2)
O from 75m
------------- ---------- ------------------ ------------------
Reservatorio 17RESRC11 37m @ 1.02% Li(2) 35m @ 1.06% Li(2)
O from 54m O from 56m
------------- ---------- ------------------ ------------------
Reservatorio 17RESRC12 1m at 0.21% Li(2) No Significant
O from 35m Results
------------- ---------- ------------------ ------------------
8m at 0.22% Li(2)
O from 53m
------------- ---------- ------------------ ------------------
Reservatorio 17RESRC13 No Significant No Significant
Results Results
------------- ---------- ------------------ ------------------
Reservatorio 17RESRC14 1m @ 0.59% Li(2) 1m @ 0.59% Li(2)
O from 39m O from 39m
------------- ---------- ------------------ ------------------
18m @ 0.75% Li(2) 16m @ 0.79% Li(2)
O from 47m O from 48m
------------- ---------- ------------------ ------------------
Figure 2. Summary of drilling at Reservatorio, together with
historical drill holes and planned drill holes - see PDF link
Figure 3. Reservatorio: Cross Section through 17RESRC04,
17RESRC05 and 17RES07 (assays are still pending for 17RESRC18 and
17RESRC19) - see PDF link
Grandao
A further 10 drill holes for 860m (Figure 4) have been completed
targeting the flat lying pegmatite body at Grandao. To date no
results have been received for this drilling.
Figure 4. Summary of drilling at Grandao, with historical drill
holes and planned drill holes - see PDF link
NOA
Initial drilling results from the NOA prospect have been
encouraging with 10-15m wide zones of pegmatite being intersected
to date at grades above 1.2% Li O over a strike length of 100m and
a down dip depth of around 50m (Table 3-4, Figure 5). A further
five RC holes are planned to test a further 200m of the strike of
the NOA prospect focusing on areas where surface outcrop suggest
widths of pegmatite over 20m may be present.
Table 3. Summarised downhole geology for recent NOA Drilling
HOLE SUMMARISED DOWNHOLE GEOLOGY
ID
---------- --------------------------------------------
17NOARC01 Pegmatite/Schist 1-5m; Pegmatite 5-10m;
Pegmatite/Schist 15-16m; Pegmatite 16-19m;
Pegmatite/Schist 19-20m; Pegmatite/Schist
23-24m; Pegmatite 24-31m; Pegmatite/Schist
31-33m; Pegmatite 33-39m; Pegmatite/Schist
39-40m; Pegmatite 40-45m; Pegmatite/Schist
45-46m
---------- --------------------------------------------
17NOARC02 Pegmatite/Schist 25-29m; Pegmatite/Schist
64-65m; Pegmatite 65-68m
---------- --------------------------------------------
17NOARC03 Pegmatite/Schist 6-11m; Pegmatite 11-18m;
Pegmatite/Schist 18-20m
---------- --------------------------------------------
17NOARC04 Pegmatite/Schist 22-23m; Pegmatite 23-24m;
Pegmatite 24-25m; Pegmatite/Schist 45-46m;
Pegmatite 46-56m; Pegmatite/Schist 56-57m
---------- --------------------------------------------
17NOARC05 Pegmatite/Schist 11-17m; Pegmatite/Schist
72-75m
---------- --------------------------------------------
Table 4. Summary of drill results for NOA reported at a 0.2% and
0.5% Li(2) O cut-off
Prospect Hole ID 0.2% Li20 Cut 0.5% Li20 Cut
Off Off
--------- ---------- ----------------- -----------------
NOA 17NOARC01 7m @ 0.52% Li20 3m @0.95@ Li20
from 3m from 5m
--------- ---------- ----------------- -----------------
5m @ 0.3% Li20 15m @ 0.78% Li20
from 15m from 31m
--------- ---------- ----------------- -----------------
1m @ 0.25% Li20
from 23m
--------- ---------- ----------------- -----------------
15m @ 0.78% Li20
from 31m
--------- ---------- ----------------- -----------------
NOA 17NOARC02 3m @ 0.24% Li20 2m @ 1.40% Li20
from 25m from 65m
--------- ---------- ----------------- -----------------
4m @ 0.82% Li20
from 64m
--------- ---------- ----------------- -----------------
NOA 17NOARC03 13m @ 1.19% Li20 11m @ 1.34% Li20
from 7m from 7m
--------- ---------- ----------------- -----------------
NOA 17NOARC04 2m @ 0.74% Li20 2m @ 0.74% Li20
from 23m from 23m
--------- ---------- ----------------- -----------------
11m @ 1.23% Li20 10m @ 1.32% Li20
from 46m from 46m
--------- ---------- ----------------- -----------------
NOA 17NOARC05 1m @ 0.21% Li20 No significant
from 72m results
--------- ---------- ----------------- -----------------
Figure 5. Summary of drilling at NOA, with historical drill
holes and planned drill holes - see PDF link
Drilling is continuing at both NOA and Grandao and a Mineral
Resource Estimate for Reservatorio is expected to be delivered
before the end of 2017.
Savannah has a 75% shareholding in Slipstream Resources Portugal
Lda, which is the registered holder of the Mina do Barroso mining
licence.
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 Australian 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.
**S**
For further information please visit www.savannahresources.com
or contact:
David Archer Savannah Resources Tel: +44 20
plc 7117 2489
David Hignell / Gerry Northland Capital Tel: +44 20
Beaney (Nominated Partners Ltd 3861 6625
Adviser)
Christopher Raggett finnCap Ltd Tel: +44 20
/ Emily Morris (Joint 7220 0500
Broker)
Jon Belliss Beaufort Securities Tel: +44 20
(Joint Broker) Ltd 7382 8300
Charlotte Page / St Brides Partners Tel: +44 20
Lottie Wadham Ltd 7236 1177
(Financial PR)
About Savannah
We are 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. We are committed to serving the interests
of our shareholders and to delivering outcomes that will improve
the lives of our staff and the communities we work with.
APPIX 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 (eg cut channels, * Reverse circulation (HQ size) samples were taken on
random chips, or specific specialised industry either 1 intervals for pegmatite or 4m composites in
standard measurement tools appropriate to the surrounding schist. RC samples were collected in
minerals under investigation, such as down hole gamma large plastic bags from an on-board rig splitter and
sondes, or handheld XRF instruments, etc). These a 4-6kg representative sample taken for analysis.
examples should not be taken as limiting the broad
meaning of sampling.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* Include reference to measures taken to ensure sample * Drilling was conducted on a nominal 80m by 40m
representatively and the appropriate calibration of spacing based on geological targets using RC drilling
any measurement tools or systems used. 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 * The lithium mineralization is predominantly in the
are Material to the Public Report. form of Spodumene-bearing pegmatites, the pegmatites
are unzoned and vary in thickness from 15m-39m.
* In cases where 'industry standard' work has been done
this would be relatively simple (eg 'reverse * Down hole sampling is carried out on either a 1 or 4m
circulation drilling was used to obtain 1 m samples interval from which 4-6kg of pulverized material (RC)
from which 3 kg was pulverised to produce a 30 g was pulverized to produce a 50g charge for assaying
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 (eg
submarine nodules) may warrant disclosure of detailed
information.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Drilling
techniques * Drill type (eg core, reverse circulation, open-hole * RC drilling at a diameter of 120mm is a form of
hammer, rotary air blast, auger, Bangka, sonic, etc) reverse circulation drilling requiring annular drill
and details (eg core diameter, triple or standard rods. Compressed air is pumped down the outer tube
tube, depth of diamond tails, face-sampling bit or and the sample is collected from the open face
other type, whether core is oriented and if so, by drilling bit and blown up the inner tube.
what method, etc).
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Drill
sample * Method of recording and assessing core and chip * Field assessment of sample volume. A theoretical
recovery sample recoveries and results assessed. 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 * RC drilling sample weights were monitored to ensure
representative nature of the samples. 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 * No obvious relationships
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * RC holes were logged in the field at the time of
and geotechnically logged to a level of detail to sampling.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* Each 1m sample interval was carefully homogenized and
assessed for lithology, colour, grainsize, structure
* Whether logging is qualitative or quantitative in and mineralization.
nature. Core (or costean, channel, etc) photography.
* A representative chip sample produced from RC
* The total length and percentage of the relevant drilling was washed and taken for each 1m sample and
intersections logged. stored in a chip tray which was photographed
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * RC samples were split by the rotary splitter on the
and sample half or all core taken. drill rig and sampled dry
preparation
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* For all sample types, the nature, quality and * The sampling was conducted using industry standard
appropriateness of the sample preparation technique. techniques and were considered appropriate
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* Quality control procedures adopted for all * The 4m composites were collected using a spear with
sub-sampling stages to maximise representatively of the spear inserted into the bag at a high angle and
samples. pushed across the sample to maximise representatively
of the sample
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* Measures taken to ensure that the sampling is * Every effort was made to ensure that the samples were
representative of the in situ material collected, representative and not bias in anyway
including for instance results for field
duplicate/second-half sampling.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* Whether sample sizes are appropriate to the grain * All samples were taken once they went through the
size of the material being sampled. 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 * The nature, quality and appropriateness of the * Samples were received, sorted, labelled and dried
data and assaying and laboratory procedures used and whether
laboratory the technique is considered partial or total.
tests * 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 670degC. 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.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* Not used
* 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.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
* Nature of quality control procedures adopted (eg * Standards/blanks and duplicates we inserted on a 1:20
standards, blanks, duplicates, external laboratory ratio for both to samples taken
checks) and whether acceptable levels of accuracy (ie
lack of bias) and precision have been established.
* 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 * The verification of significant intersections by * All information was internally audited by company
and assaying either independent or alternative company personnel. 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, * Savannah's experienced project geologists are
data verification, data storage (physical and supervised all processes.
electronic) protocols.
* 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 * Accuracy and quality of surveys used to locate drill * The coordinate of each drill hole was taken at the
points holes (collar and down-hole surveys), trenches, mine time of collecting using a handheld GPS with an
workings and other locations used in Mineral Resource accuracy of 5m.
estimation.
* The grid system used is WSG84
* Specification of the grid system used.
* Topographic accuracy was +/- 5m
* Quality and adequacy of topographic control.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Drilling was on a nominal 80m by 40m spacing and
distribution based on geological targets
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and * Drill data is not currently at sufficient spacing to
grade continuity appropriate for the Mineral Resource define a mineral resource.
and Ore Reserve estimation procedure(s) and
classifications applied.
* Some samples were composited on a 4m basis based on
geological criteria, these areas were all outside the
* Whether sample compositing has been applied. pegmatite bodies where 1m sampling was completed
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Orientation
of data * Whether the orientation of sampling achieves unbiased * Drilling was orientated perpendicular to the known
in relation sampling of possible structures and the extent to strike of the pegmatites
to which this is known, considering the deposit type.
geological
structure * Drill holes we orientated at either -60 degrees or
* If the relationship between the drilling orientation -90 degrees depending on the dip of the pegmatite in
and the orientation of key mineralised structures is an attempt to get drill holes as close to true width
considered to have introduced a sampling bias, this as possible
should be assessed and reported if material.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * Samples were delivered to a courier and chain of
custody is managed by Savannah.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Audits * Internal company auditing
or reviews * The results of any audits or reviews of sampling
techniques and data.
------------- ------------------------------------------------------------ -----------------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section.)
Criteria JORC Code explanation Commentary
--------------- ----------------------------------------------------------------- ------------------------------------------------------------------
Mineral
tenement * Type, reference name/number, location and ownership * All work was completed inside the 100% owned Mina do
and land including agreements or material issues with third Barroso project C-100
tenure parties such as joint ventures, partnerships,
status 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.
--------------- ----------------------------------------------------------------- ------------------------------------------------------------------
Exploration * N/A
done by * Acknowledgment and appraisal of exploration by other
other parties.
parties
--------------- ----------------------------------------------------------------- ------------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * The lithium mineralization is predominantly in the
mineralisation. 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-39m. Lithium is present in most
aplite compositions.
--------------- ----------------------------------------------------------------- ------------------------------------------------------------------
Drill
hole * A summary of all information material to the * Grid used WSG84
Information understanding of the exploration results including a
tabulation of the following information for all
Material drill holes: * No material data has been excluded from the release
Hole East North RL Depth Azim Dip
o easting and northing of ID (m)
the drill hole collar ----------- ------- -------- ---- ------ ----- ----
o elevation or RL (Reduced 17NOARC01 599254 4609428 688 60 202 -60
Level - elevation above sea ----------- ------- -------- ---- ------ ----- ----
level in metres) of the drill 17NOARC02 599266 4609457 683 101 205 -60
hole collar ----------- ------- -------- ---- ------ ----- ----
o dip and azimuth of the hole 17NOARC03 599147 4609440 689 50 204 -60
o down hole length and interception ----------- ------- -------- ---- ------ ----- ----
depth 17NOARC04 599158 4609482 678 93 205 -60
o hole length. ----------- ------- -------- ---- ------ ----- ----
* If the exclusion of this information is justified on 17RESRC09 599676 4609138 599 75 152 -60
the basis that the information is not Material and ----------- ------- -------- ---- ------ ----- ----
this exclusion does not detract from the 17RESRC10 599657 4609173 609 95 152 -60
understanding of the report, the Competent Person ----------- ------- -------- ---- ------ ----- ----
should clearly explain why this is the case. 17RESRC11 599591 4609117 613 113 152 -60
----------- ------- -------- ---- ------ ----- ----
17RESRC12 599614 4609078 603 85 152 -60
----------- ------- -------- ---- ------ ----- ----
17RESRC13 599635 4609046 602 55 152 -60
----------- ------- -------- ---- ------ ----- ----
17RESRC14 599566 4609002 599 92 137 -60
----------- ------- -------- ---- ------ ----- ----
17NOARC05 599103 4609401 687 80 27 -60
----------- ------- -------- ---- ------ ----- ----
17GRARC10 602012 4607893 579 73 0 -90
----------- ------- -------- ---- ------ ----- ----
17GRARC11 602040 4607961 579 50 0 -90
----------- ------- -------- ---- ------ ----- ----
17GRARC12 601888 4607968 570 50 0 -90
----------- ------- -------- ---- ------ ----- ----
17GRARC13 601900 4608000 582 75 0 -90
----------- ------- -------- ---- ------ ----- ----
17RESRC15 599522 4609069 620 126 147 -60
----------- ------- -------- ---- ------ ----- ----
17RESRC16 599544 4609031 609 110 142 -60
----------- ------- -------- ---- ------ ----- ----
17RESRC17 599573 4609148 629 136 152 -60
----------- ------- -------- ---- ------ ----- ----
17RESRC18 599631 4609205 622 125 152 -60
----------- ------- -------- ---- ------ ----- ----
17RESRC19 599608 4609242 627 152 152 -60
----------- ------- -------- ---- ------ ----- ----
17RESRC20 599553 4609184 631 158 153 -60
----------- ------- -------- ---- ------ ----- ----
17GRARC14 601886 4608085 574 114 30 -60
----------- ------- -------- ---- ------ ----- ----
17GRARC15 601848 4607996 582 78 0 -90
----------- ------- -------- ---- ------ ----- ----
17GRARC16 601863 4607955 554 60 0 -90
----------- ------- -------- ---- ------ ----- ----
17GRARC17 601786 4607991 557 108 0 -90
----------- ------- -------- ---- ------ ----- ----
17GRARC18 601846 4608132 546 63 30 -60
----------- ------- -------- ---- ------ ----- ----
17GRARC19 601778 4607968 497 189 0 -90
----------- ------- -------- ---- ------ ----- ----
--------------- --------------------------------------------------------------- --------------------------------------------------------------------
Data
aggregation * In reporting Exploration Results, weighting averaging * Low Grade Intercepts are weighted averages using a
methods techniques, maximum and/or minimum grade truncations 0.2%Li2O cut off with no more than 2m of internal
(eg cutting of high grades) and cut-off grades are dilution
usually Material and should be stated.
* High Grade Intercepts are weighted averages using a
* Where aggregate intercepts incorporate short lengths 0.5%Li2O cut off with no more than 2m of internal
of high grade results and longer lengths of low grade dilution
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.
--------------- --------------------------------------------------------------- --------------------------------------------------------------------
Relationship
between * These relationships are particularly important in the * Exploration results are reported as down hole
mineralisation reporting of Exploration Results. intercepts
widths
and intercept
lengths * If the geometry of the mineralisation with respect to * No metal equivalent values have been used.
the drill hole angle is known, its nature should be
reported.
* The drill holes are detailed in the table in the main
release and the pegmatite at Reservatorio appears to
* If it is not known and only the down hole lengths are dip at around 40degrees to the north west and at
reported, there should be a clear statement to this Grandao it is sub horizontal
effect (eg 'down hole length, true width not known').
--------------- --------------------------------------------------------------- --------------------------------------------------------------------
Diagrams
* Appropriate maps and sections (with scales) and * Relevant diagrams and maps have been included in the
tabulations of intercepts should be included for any main body of the release.
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
--------------- --------------------------------------------------------------- --------------------------------------------------------------------
Balanced
reporting * Where comprehensive reporting of all Exploration * All relevant results available have been reported.
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.
--------------- --------------------------------------------------------------- --------------------------------------------------------------------
Other
substantive * Other exploration data, if meaningful and material, * The interpretation of the results is consistent with
exploration should be reported including (but not limited to): the observations and information obtained from the
data geological observations; geophysical survey results; data collected.
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.
--------------- --------------------------------------------------------------- --------------------------------------------------------------------
Further
work * The nature and scale of planned further work (eg * Further rock chip sampling, channel sampling and RC
tests for lateral extensions or depth extensions or drilling. Once planning has been completed the detail
large-scale step-out drilling). will be provided
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
--------------- --------------------------------------------------------------- --------------------------------------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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November 22, 2017 02:00 ET (07:00 GMT)
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