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Posts: 262
Opinion: No Opinion
Posted: February 7, 2018
RNS Number : 1047E
Savannah Resources PLC
07 February 2018
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
7 February 2018
Savannah Resources Plc
Exercise of Options
Savannah Resources plc (AIM: SAV) ('Savannah', or the 'Company'), the AIM quoted resource development company, announces that it has issued 233,336 new ordinary shares of 1 pence each in the capital of the Company ("Ordinary Shares") in respect of 2013 Share Options at an exercise price of 4.62 pence per share (the "New Shares"), following an exercise of share options.
Application will be made for the New Shares, which will rank pari passu with existing Ordinary Shares, to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective and dealings will commence at 8:00am on or around 12 February 2018.
Total Voting Rights
Following Admission, the total issued share capital of the Company will consist of 637,083,722 Ordinary Shares. This number may be used by shareholders as the denominated for the calculations by which they will determine if they are required to notify their interest, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
This Announcement contains inside information for the purposes of Article 7 of the Regulation (EU) 596/2014.
*ENDS*
Posts: 262
Opinion: Buy
Posted: December 18, 2017
RNS Number : 5746Z
Savannah Resources PLC
18 December 2017
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
18 December 2017
Savannah Resources Plc
Maiden Lithium Resource of 3.2Mt for the Mina do Barroso Lithium Project, Portugal with Significant Expansion Potential
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to announce a maiden Mineral Resource Estimate of 3.2 million tonnes for the Reservatorio Deposit, which is one of three targets currently being advanced as part of the ongoing exploration and development programme for the Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project') in northern Portugal (Figure 1). Crucially further upside remains as the drill programme is ongoing, with the aim of further expanding the Reservatorio Mineral Resource and defining new JORC - 2012 compliant Mineral Resource Estimates at other deposits. To view the press release with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5746Z_-2017-12-17.pdf
HIGHLIGHTS:
· Initial Inferred Mineral Resource of 3.2Mt at 1.0% Li₂O containing 32,000t of Li₂O for Reservatorio Deposit
· Reservatorio is one of at least eight pegmatite deposits on the Mina do Barroso Mining Lease and one of three deposits currently being drilled
· Further drilling is now planned both down dip and targeting the potential eastern extension of the deposit where higher lithium grades occur
· Mineral Resource updates are likely for Reservatorio during 2018 as the drilling programme continues
· A maiden Mineral Resource Estimate for the Grandao deposit is expected during Q1 2018
· Drilling is ongoing and will take a short break over Christmas before commencing again in early January at which time a second rig will be introduced to accelerate the drilling programme
Savannah's CEO, David Archer said: "That we have an estimated 3.2 million tonne Resource from just one of at least eight pegmatite deposits at our Mina do Barroso Lithium Project gives an indication of the potential scale of this project. We are now focused on defining a significant aggregate Mineral Resource from the multiple pegmatites that sit within the major lithium mineralised corridor that runs through our Mining Lease. The first to add to this aggregate Mineral Resource will be the high-grade (up to 2.1% Li₂O) Grandao deposit where we have completed extensive drilling and expect to deliver a Resource Estimate in the first quarter of 2018.
"The drilling results announced to date continue to underscore the potential of the Mina do Barroso Lithium Project to be a strategic upstream feature in the European lithium value chain. We believe Mina do Barroso is 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. Our focus is therefore on rapidly advancing the project so that we can look to provide a European source of battery-grade lithium to supply the growing number of European battery manufacturers. With this in mind, we look forward to continuing to advance at pace our drilling and metallurgical test work programmes, which will be used to support an early scoping study around a potential mine development."
Posts: 262
Opinion: Buy
Posted: December 13, 2017
RNS Number : 1552Z
Savannah Resources PLC
13 December 2017
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
13 December 2017
Savannah Resources Plc
Outstanding Lithium Results identified at the Mina do Barroso Lithium Project, Portugal Zone of continuous lithium mineralisation over 100m in width intersected
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to announce new and outstanding results from the ongoing reverse circulation ('RC') drill programme at the Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project') located in Portugal (Figure 1). The drill programme, which is aiming to generate 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/1552Z_-2017-12-12.pdf
HIGHLIGHTS:
· Total of 66 holes for 5,558m completed to date as part of the ongoing RC drill programme
· Drill results from three deposits being targeted confirm the outstanding potential of Mina do Barroso - Savannah believes these intercepts represent some of the best lithium spodumene intersections ever reported for a European deposit
· Grandao:
o Mineralised zone over 100m intersected: results from recent drilling has recorded the broadest and most significant results for the project to date. Key results include:
§ 109m at 1.04% Li₂O from surface (uncut), including 52m at 1.32% Li₂O in 17GRARC17
§ 71m at 1.06% Li₂O from 88m, including 57m at 1.2% Li₂O in 17GRARC19
§ 31m at 1.2% Li₂O from surface in 17GRARC12
§ 25m at 1.15% Li₂O from 36m in 17GRARC23
o New high-grade zone discovered: drill testing of a newly identified sub-vertical pegmatite body has been successful, identifying a new high-grade zone of mineralisation. Results from the first drill hole include:
§ 25m at 1.49% Li₂O from 32m including 14m at 2.1% Li₂O in 17GRARC20
o Drill programme extended - an additional 16 holes have been added to the drilling programme to help outline the full potential of the Grandao deposit
o Pegmatite and structural experts on site, to assist in developing the mineralisation model for these outstanding new results at Grandao
· Reservatorio:
o Deposit expanded - assay results confirm that the lithium mineralisation extends to over 400m strike length, with good down dip extensions of at least 100m. New assay results include:
§ 32m at 1.05% Li₂O from 78m in 17RESRC17
§ 15m at 1.19% Li₂O from 79m in 17RESRC16
o Maiden Mineral Resource Estimate for Reservatorio, expected by the end of 2017
· NOA - further drilling and results pending: drilling of a further 6 holes has confirmed the presence of lithium mineralisation over a 200m strike length together with good down dip extensions of at least 50m and pegmatite widths up to 15m
· Phase 2 of the metallurgical test work programme underway - samples taken from Grandao, Reservatorio and NOA being tested with results expected in early 2018
Savannah's CEO, David Archer 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.
"These results 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.
"Ongoing drilling and metallurgical test work will be used to support an early scoping study around a potential mine development."
Posts: 262
Opinion: No Opinion
Posted: November 20, 2017
RNS Number : 8787W
Savannah Resources PLC
20 November 2017
Savannah Resources Plc / Index: AIM / Epic: SAV / Sector: Mining
20 November 2017
Savannah Resources Plc
Pilot Plant Construction Complete and Commissioning Underway,
Mutamba Mineral Sands Project, Mozambique
Savannah Resources plc (AIM: SAV) ('Savannah' or 'the Company'), the AIM quoted resource development company, is pleased to announce that construction of the pilot plant for its bulk metallurgical test work programme at the Mutamba Mineral Sands Project in Mozambique, ('Mutamba' or the 'Project') is now complete (Figures 1-3). To view the press release with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/8787W_-2017-11-17.pdf
HIGHLIGHTS:
· Construction of the Project's 20 tonne per hour pilot plant is complete and commissioning is now underway
· Pilot plant will produce bulk samples of concentrate for metallurgical and product test work
· Test work to act as proof-of-concept for future development model - currently targeting first production in 2020 with estimated average annual production of 456,000t of ilmenite and 118,000t of non-magnetic concentrate over a 30-year life of mine
· Commissioning is expected to be completed by the end of 2017
Savannah's CEO, David Archer said: "We are delighted to announce that the pilot plant construction is now complete, and commissioning is well underway in anticipation of an official opening in December. The pilot plant construction work has been completed on time and on budget and maintains the Consortium's fast-paced approach towards the Project including the delivery of a Scoping Study earlier this year.
"Upon completion of commissioning, the plant will provide concentrate bulk samples for analysis and the preparation of final products for test marketing. The completion of the plant is another key milestone for the Mutamba Consortium as we move the Project towards a development decision.
"In the meantime, the overall market setting for TiO₂ feedstocks continues to improve and new supply of TiO₂ feedstocks will be required to meet forecast demand and to ease anticipated market tightness."
Pilot Plant Commissioning
The commissioning process is expected to take around four weeks to complete and includes three stages:
· Water commissioning
· Sand commissioning
· Ore commissioning
Figure 1. Aerial photograph of the plant area - November 2017 (company photo)
Figure 2. Grizzly, conveyor and ore feed system (company photo)
Figure 3. Pilot plant and water storage (company photo)
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.