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Savannah Resources plc

Savannah Resources Plc Significant Expansions to Grandao Extended Identified

Savannah Resources plc (LON:SAV), the AIM quoted resource development company, has today announced further encouraging results from the ongoing reverse circulation and diamond drill programme at the Mina do Barroso Lithium Project, located in Portugal. A total of 192 holes for 16,222m have now been drilled to date across three primary targets of Grandao, Reservatorio and NOA.

HIGHLIGHTS:

· Ongoing RC and DD at the Grandao and Grandao Extended Deposits has identified further significant expansions to the mineralised pegmatite bodies

· Drilling at Grandao Extended has identified a significant extension to the known mineralised pegmatites supporting the excellent potential for further increases in the existing 14Mt @ 1.1% Li₂O Mineral Resource Estimate

· Key results include:

Grandao and Grandao Extended

– 25.15m at 1.38% Li2O from 96.85m in 18GRARC76 diamond tail

– 41.35m at 1.30% Li2O from 103m in 18GRARC80 diamond tail

– 14.4m at 1.57% Li2O from 148.60m in 18GRARC81 diamond tail

– 47m at 1.35% Li2O from 66m in 18GRARC105

– 30m at 1.33% Li2O from 45m in 18GRARC106

· A second diamond drill rig is now on site to support the fast-tracked Feasibility Study, which is now underway and being undertaken by Perth based lithium specialist, Primero Group

· Phase 3 of the metallurgical test work programme continues to progress well

Savannah Resources Plc CEO, David Archer said: “The drill programme continues to produce outstanding results both in terms of widths and lithium grades. Zones in the main Grandao Deposit are thickening and drilling is also extending the deposit down dip, giving us confidence of the potential to increase the Project’s Mineral Resource Estimate.

“Mina do Barroso has developed at an exceptionally fast pace since the first hole was drilled on 24 July 2017. We have gone from a point of having no Mineral Resource Estimate to having made one of Europe’s most significant mineral discoveries of a mineral that is of vital and strategic importance to European industry.”

Grandao and Grandao Extended

A total of 142 RC and DD drill holes for 1,1935m have been completed and results for drill holes 18GRARC104-106, 18GRADD001-006, and diamond tails on 18GRARC076, 080-081 have now been received and returned further encouraging results (Tables 1 and Figure 2-3).

Drilling targeting the down dip extensions of Grandao Extended has met with significant success, identifying a further down dip extension of the known mineralisation in the order of 100m and other expansions to the areas of known mineralisation. Drilling has now confirmed that the orebody continues for at least 600m down dip and importantly the ore body remains open down dip with further expansions likely as the drilling programme continues.

Table 1. Summary of drill results for Grandao flat lying pegmatite using a 0.5% Li2O cut-off

Hole ID

Prospect

Northing

Easting

 

rL

Azimuth

Dip

EOH

From (m)

To (m)

Down hole

Grade

(Deg)

(Deg)

(m)

Interval (m)

% Li2O

18GRARC76

Grandao

4608073.00

601575.00

511.00

0

-90

176.30

96.85

122.00

25.15

1.38

18GRARC80

Grandao

4607984.00

601508.00

502.00

0

-90

155.20

103.00

144.35

41.35

1.30

18GRARC81

Grandao

4608007.00

601535.00

501.00

0

-90

173.30

114.00

140.15

26.15

0.87

148.60

163.00

14.40

1.57

18GRARC104

Grandao

4607810.00

601689.00

549.00

-68.5

280.00

138.00

57.00

67.00

10.00

1.27

82.00

93.00

11.00

0.88

101.00

105.00

4.00

1.34

18GRARC105*

Grandao

4608035.00

601693.00

537.00

-63

130.00

113.00

66.00

113.00

47.00

1.35

18GRARC106

Grandao

4608043.00

601697.00

525.00

-65

310.00

100.00

45.00

75.00

30.00

1.33

* Diamond tail required to fully test the pegmatite thickness