Last checked at 28 Feb 2018 07:00
28 February 2018
Savannah Resources Plc
Scoping Study Underway into the Potential for a Mine Development
Mina do Barroso Lithium Project, Portugal
Savannah Resources plc (AIM: SAV and SWB: SAV) ('Savannah' or the 'Company'), the AIM quoted resource development company, is pleased to announce that it has appointed internationally recognised Hatch to conduct a Scoping Study of a potential mine development of the Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project'), located in Portugal (the "Scoping Study").
HIGHLIGHTS:
· Hatch, the internationally recognised engineering group, has been appointed to conduct the Scoping Study for the potential development of a lithium mine at Mina do Barroso;
· The Scoping Study will investigate a potential mining and concentration plant development based on the Grandao, Reservatorio and NOA spodumene deposits; and
· Results of the Scoping Study are expected to be available towards the end of Q2 2018.
Savannah's CEO, David Archer said: "We are delighted to have partnered with Hatch. They have a wealth of experience in much of the lithium value chain and have specific and very relevant knowledge of spodumene deposit developments, like that proposed for Mina do Barroso. We expect the Scoping Study to be the precursor to the launch of a Definitive Feasibility Study later this year."
Scope of Work
The Scoping Study will investigate the potential for a mine development at Mina do Barroso and will include the following areas: project setting, geology and resource description, mining, processing, infrastructure, market review, cost estimates, human resources, environmental, social aspects, project risk review and project development schedule.
About Hatch
Hatch is an internationally recognised supplier of engineering, project and construction, business consulting and operational services to the mining, metallurgical, energy and infrastructure industries. Hatch has a global network of 9,000 professionals and their corporate roots extend back more than a hundred years, and experience spans over 150 countries around the world in the metals, energy, infrastructure, digital, and investments market sectors.
Hatch have extensive experience in the lithium market space with design and construction of both concentrators and downstream processing. Hatch and their highly experienced technical team have been involved in a significant number of recent lithium projects at all levels including Lithium Korea, Desert Lion Energy, Nemaska, North American Lithium, Prospect Resources, Novo Litio and many more.
Regulatory Information
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
**ENDS**
For further information please visit www.savannahresources.com or contact:
David Archer | Savannah Resources plc | Tel: +44 20 7117 2489 |
David Hignell / Dugald J. Carlean (Nominated Adviser) | Northland Capital Partners Ltd | Tel: +44 20 3861 6625 |
Christopher Raggett / Emily Morris (Joint Broker) | finnCap Ltd | Tel: +44 20 7220 0500 |
Jon Belliss (Joint Broker) | Beaufort Securities Ltd | Tel: +44 20 7382 8300 |
Charlotte Page / Lottie Wadham (Financial PR) | St Brides Partners Ltd | Tel: +44 20 7236 1177 |
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.
The group is listed and regulated on AIM and the Company's ordinary shares are also available on the Börse Stuttgart (SWB) under the ticker "SAV".