Northland Capital says “Savannah Resources has wasted no time since it generated its maiden Mineral Resources Estimate for the Mina do Barroso Lithium Project back in mid-December. A 200% increase in the Mineral Resource Estimate is a sizable achievement completed in a short space of time and additional expansion drilling is ongoing and expected to lead to an another updated Mineral Resource Estimate from the Company in due course. Savannah plans to continue its fast paced work programme at the Project with the Company aiming to complete both a Scoping Study and a Definitive Feasibility Study before the end of the year, this would be a remarkable achievement. Savannah’s current Mineral Resource Estimate for Mina do Barroso currently sits at the lower end of comparable lithium projects in terms of tonnages (Chart 1), though it’s important to note that to date the Company has only tested three out of eight targets and even the three targets included in the Mineral Resource Estimate have potential down dip and along strike extensions that are currently being tested in the on-going drill programme. There is clearly significant potential for the Company to scale up the tonnage with further drilling. In terms of grade the current Mineral Resource Estimate for Mina do Barroso is around the mid-range of comparable lithium projects and lower end of the range for spodumene projects (Chart 1), the Exploration Target highlights an expectation that the grade is expected to increase or remain the same with further work.”
Source: Compiled by Northland Capital Partners from various technical reports. Bubble size is proportional to contained Li2O equivalent.