LONDON (Alliance News) - Savannah Resources PLC on Thursday said it has been granted the reservation permit applications on two new lithium projects in Finland, Somero and Erajarvi.
Both permits have been granted until May 2018.
Geological mapping undertaken by the Finnish Geological Survey within the project areas highlighted key lithium minerals, Savannah said, including spodumene, lepidolite and petalite.
The company added the project has good access to infrastructure and is located close to potential final customers.
An exploration programme for the site is being finalised, with the aim to generate drill targets for the project during 2016.
Shares in Savannah were up 6.8% to 3.02 pence Thursday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Savannah Resources (SAV)