TIDMSAV
RNS Number : 5458N
Savannah Resources PLC
25 September 2019
25 September 2019
Savannah Resources Plc
Significant Maiden Co-Product Mineral Resource Estimate
Grandao Lithium Deposit
Highlights
-- Co-product Mineral Resource estimates completed at Grandao
with an initial resource of 14.4Mt containing 4.79Mt of quartz and
6.11Mt of feldspar
-- Grandao forms part of Savannah's Mina do Barroso Lithium
Project, located in northern Portugal, and the Company's flagship
asset and Europe's most significant spodumene lithium deposit, with
a Mineral Resource Estimate currently standing at 27Mt @ 1.06%
Li(2) 0
-- Metallurgical test work demonstrates successful recovery of
saleable products used in the local ceramic and glass
industries
-- Co-product Mineral Resources are wholly contained within
existing lithium Mineral Resource model
-- The Mineral Resource is expected to expand once calculations
for the NOA, Reservatorio, Pinheiro and Aldeia deposits are also
included
-- By-products have the potential to provide a significant
additional income stream to add to that generated from the sale of
lithium spodumene concentrates
-- Marketing studies concluded that prices for Mina do Barroso
co-products could be significantly higher than reported in the 2018
Scoping Study, with feldspar at US$65-100/t vs. US$39/t, quartz at
US$60-100/t vs. US$33/t and a bulk tail at US$40-45/t
-- Glass and ceramics are two of the biggest global markets for
feldspar and quartz and Mina do Barroso is geographically well
positioned to supply markets in Portugal, Spain and other European
countries
Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV)
('Savannah' or 'the Company'), the resource development company, is
pleased to announce a Mineral Resource estimate for co-products
(quartz and feldspar) from the spodumene bearing pegmatites at the
Mina do Barroso Lithium Project ('Mina do Barroso' or the
'Project'). The co-product Mineral Resource estimate is based on
the same geological models used in the recent resource estimate for
lithium of 27.0Mt @ 1.06% Li(2) 0 announced 31 May 2019. The
resource estimate was completed by an independent consultant and is
based on normative mineralogy assessments and is reported in
accordance with the JORC code 2012 edition (Figure 1 and Table 1).
To view the press release with the illustrative maps and diagrams
please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/5458N_1-2019-9-24.pdf
Savannah's CEO, David Archer, said: "Today's Mineral Resource
Estimate for co-products is another important milestone achievement
for Savannah and further enhances the commercial appeal and
robustness of the Mina do Barroso Lithium Project, which is leading
the way as Europe's most immediate producer of high quality,
lithium feedstocks and has the ability to anchor the fast growing
battery and Electric Vehicle industries of the continent with a
supply of this strategic battery metal.
"The co-products will be produced in a region where quarrying of
feldspar and quartz is a traditional industry supplying vibrant
ceramic and glass industries locally, nationally and more widely in
the EU. They will not only help our bottom line but will help to
reduce the volumes of materials that will need to be emplaced as
waste on site thereby reducing our environmental footprint and
costs. Discussions are underway with potential offtake and JV
partners to advance the co-product opportunity."
Mineral Resource Summary
Table 1. Co-product Mineral Resource Estimation Summary
Deposit Tonnes Quartz Feldspar
Resource Grade Grade
Classification Mt % Mt % Mt
------- ------ ----- ------ -----
Grandao Measured 7.1 32.6 2.32 42.8 3.05
Indicated 6.3 34.6 2.17 42.6 2.67
Inferred 1.0 30.9 0.30 40.3 0.39
--------------------------- ------- ------ ----- ------ -----
Total 14.4 33.4 4.79 42.6 6.11
--------------------------- ------- ------ ----- ------ -----
Figure 1. Mina do Barroso Project Summary Map showing key
deposits and drilling completed to date
Co-product Opportunity
As part of the planned production of the spodumene concentrate
from pegmatite rock at Mina do Barroso, there will be a number of
potential industrial mineral co-products that can be produced and
marketed to supply the glass and ceramic producers in Portugal and
Spain. Mina do Barroso is geographically well positioned to supply
these markets with suitable pegmatite material available for the
duration of the project (currently expected to be in the range of
10-15yrs).
It is envisaged that the majority of co-products will be
recovered from the tailings stream of the proposed lithium
production. However, it is also likely that bulk pegmatite products
can also be marketed from material that is not processed for
lithium production. This is currently occurring on a small scale at
the Aldeia and NOA deposits.
A flow sheet for tailings processing developed by Nagrom
Laboratory in Perth WA, has been able to demonstrate that by using
conventional flotation techniques, Savannah's pegmatite material
can produce four feldspar and quartz products which are suitable
for use in a range of both glass and ceramic applications. The
product specifications that can be produced are:
-- Fine Grade Feldspar: Bulk tailings product from the process
of concentrating spodumene bearing pegmatites and for use in
ceramics; glass; paints; polymers and welding rods.
-- High Grade Feldspar: Superior quality sodium, potassium
feldspar refined from pegmatite tailings for use in ceramics;
glass; paints; polymers and welding rods.
-- Coarse Grade Feldspar: Feldspathic pegmatite produced by
traditional blasting and crushing techniques sold as bulk rock for
use in Flux for ceramics (tiles, earthenware, sanitaryware,
glaze).
-- Fine Quartz: High quality quartz refined from Portuguese
pegmatite tailings for use in ceramics; glass; paints and
polymers.
Methodology
There are a number of methods which can be used to establish the
mineral composition of the pegmatites. Savannah has used a
combination of methods to produce a cost-effective procedure to
determine the quantity and grade of material that would be
available for co-product marketing. Geological logging and
quantitative x-ray diffraction ("XRD") analysis has demonstrated
that the pegmatite bodies at Mina do Barroso are comprised largely
of silicate minerals with an overall average composition of albite
(38%), quartz (27%), spodumene (12%), muscovite (12%) and
microcline (10%). Undetermined minerals accounted for 1.5% of the
rock mass.
While XRD analysis is the most accurate method for mineral
determination, it is cost prohibitive to complete XRD analysis on
the required number of samples needed for resource estimation. In
certain circumstances it is possible to calculate mineral content
in a sample from the elemental or oxide analyses ("normative
mineralogy") using oxide multipliers to calculate the mineral
content, if that element is present only in that particular
mineral. In the case of the Mina do Barroso spodumene pegmatites,
Sodium (Na) occurs only in albite and Li occurs only in spodumene,
so these elemental assays can be used to calculate the content of
those minerals. Muscovite and microcline have similar chemical
composition but are the only minerals that contain potassium (K) in
the composition so the K assay can provide a limit to the total
muscovite and microcline assemblage, but is only of limited use in
defining the proportion of each of those minerals. All minerals in
the pegmatite contain silica (Si), so the SiO(2) assay cannot be
used to define quartz content.
SAV has conducted two programmes of multi-element analysis of
drilling samples using x-ray florescence ("XRF") analysis to
quantify oxide concentrations within the Grandao pegmatite. A total
of 127 individual drilling samples were re-assayed using XRF. In
addition, 141 sample composites (representing 2,020m of drilling)
were prepared and analysed to provide multi-element data throughout
the pegmatite. The results of these various samples have been used
to prepare normative mineralogy calculations to determine the
mineral composition of the samples.
To calibrate the results from the normative mineralogy, the
results from the quantitative XRD analysis were used to apply
regression formulas and correction factors. The methodology for
deriving mineral compositions from assay data for the main
pegmatite minerals is summarised as follows and shown in Table
2:
-- Spodumene - excellent correlation of spodumene with assayed
Li(2) O allows the proportion of spodumene to be accurately
determined by normative mineralogy based on Li(2) O analysis;
-- Albite - good correlation of albite with assayed Na(2) O
although the normative calculation underestimates albite content
(likely due to presence of Ca or Mg in feldspar lattice) so a
positive correction factor (+17%) has been derived from XRD
comparisons;
-- Microcline - Regression of XRD results shows good correlation
of microcline with K(2) O assay. Regression formula can be applied
to K(2) O analyses to determine microcline content;
-- Muscovite - reasonable correlation between muscovite and
microcline in XRD has allowed a ratio of microcline to muscovite to
be determined;
-- Muscovite and microcline - factor applied to limit total
microcline+muscovite content to match available K(2) O in assays so
a small negative correction factor (-4%) has been applied;
-- Other minerals - XRD shows 1.5% of rock mass to be other undetermined minerals;
-- Quartz - the proportion of the rock mass calculated by
subtracting the other elements from the total mass.
Table 2: Normative Mineralogy for Grandao
Mineral Deposit Composition
Spodumene 11.5%
--------------------
Albite (Feldspar) 34.3%
--------------------
Microcline (Feldspar) 8.3%
--------------------
Muscovite (mica) 10.8%
--------------------
Quartz 33.6%
--------------------
The results of QEMSCAN analysis were available for five samples.
These were used as a further check on the normative mineralogy and
were found to support the calculated data.
Mineral Resource Estimate
The Mineral Resource Estimate of Co-products for the Grandao
Lithium Deposit has been completed by Payne Geological Services Pty
Ltd, an external and independent mining consultancy -
http://www.paynegeo.com.au. The Grandao deposit forms part of
Savannah's Mina do Barroso Lithium Project, located in northern
Portugal.
The Mineral Resource Estimate has been classified as Measured,
Indicated and Inferred Mineral Resource in accordance with the JORC
Code, 2012 Edition and is summarised in Appendix 1.
Table 3. Co-product Mineral Resource Summary (rounding
discrepancies may occur)
Deposit Resource Tonnes Quartz Feldspar
Classification
Mt Grade Mt Grade Mt
% %
------- ------ ----- ------ -----
Grandao Measured 7.1 32.6 2.32 42.8 3.05
----------------- ------- ------ ----- ------ -----
Indicated 6.3 34.6 2.17 42.6 2.67
--------------------------- ------- ------ ----- ------ -----
Inferred 1.0 30.9 0.30 40.3 0.39
--------------------------- ------- ------ ----- ------ -----
Total 14.4 33.4 4.79 42.6 6.11
--------------------------- ------- ------ ----- ------ -----
The Grandao deposit comprises two main pegmatite intrusions. The
upper part of the deposit occurs within a broad, shallow dipping
pegmatite body with a typical thickness of 20m-40m. The lower
portion is a steep dipping dyke, which is 15m-20m in true width
striking north south. In addition, minor parallel lenses of
pegmatite are also included in the Mineral Resource Estimate. Both
main pegmatite zones remain open either along strike or down
plunge.
Geology
At Mina do Barroso, lithium mineralisation occurs predominantly
in the form of spodumene-bearing pegmatites, which are hosted in
metapelitic and mica schists, and occasionally carbonate schists of
upper Ordovician to lower Devonian age. The main Grandao pegmatite
is a flat-lying, tabular zone defined over an area of 600m
north-south and 980m east-west and varies in thickness from
10m-60m. It is very close to surface and is visible in outcrop over
a significant area. A lower zone of mineralisation is also present
at Grandao, hosted in a north-south trending steep-dipping, tabular
pegmatite dyke 15m-20m in true width (Figure 2).
Figure 2. Simplified Geological Cross section through the
Grandao deposit
At the Project, lithium is present in most pegmatite
compositions and laboratory test work confirms that the lithium is
almost exclusively within spodumene. Distinct lithium grade
zonation occurs within the pegmatites, with weakly mineralised
zones often evident at the margins of the dykes. Minor xenoliths
and inliers of schist are observed within the main pegmatite. Where
these have sufficient continuity, they have been separately
modelled and excluded from the estimate.
The weathering profile at Grandao comprises a shallow, surficial
zone of weak to moderate oxidation, particularly of the schistose
country rock. A zone of deeper weathering exists on the western
side of the Grandao Deposit with moderate oxidation to a depth of
up to 50m.
Drilling
A total of 92 RC drill holes, 31 diamond holes and 25 RC holes
with diamond tails define the Mineral Resource. All holes were
completed by Savannah between 2017 and 2019. The holes were drilled
on an approximate grid spacing of 20m-60m with a number of closer
spaced holes in the shallow part of the deposit. Of the 148 holes
that intersect the Mineral Resource, 79 holes had oxide analyses
for estimating the co-products.
Drill collar locations are recorded in Universal Traverse
Mercator ("UTM") coordinates using differential GPS. All Savannah
drilling has been down-hole surveyed using a gyroscopic tool.
Sampling and Sub-Sampling Techniques
For the Savannah RC drilling, a face-sampling hammer was used
with samples collected at 1m intervals from pegmatite zones with
composite sampling of typically 4m in the surrounding schists in
early drilling. In recent drilling the schist 5m either side of the
pegmatite was sampled at 1m intervals with the rest of schist
remaining unsampled. The 1m samples were collected through a
rig-mounted riffle splitter and were 4kg-6kg in weight. The 4m
composites were collected by spear sampling of the 1m intervals.
Samples were weighed to assess the sample recovery which was
determined to be satisfactory.
Core was PQ and HQ in size and sampled to geological boundaries.
Core was cut using a diamond saw, and for the majority of holes,
half core was collected for assay. A number of diamond holes were
sampled for metallurgical test work. For those holes, quarter core
was submitted for assay.
Samples for XRF analysis were collected from the remaining pulp
material stored at the ALS preparation facility in Seville. Samples
for the 127 individual 1m intervals were collected direct from the
pulp storage bags. The 141 composite samples were collected by
combining the pulp material from the individual samples into a
single "composite" for analysis. The composite samples were created
by pouring 10g of pulp sample into the middle of a flat square
plastic sheet. Each corner of the sheet is subsequently drawn past
the centre to the opposite corner, and then returned to its
original location. This process is repeated about 50 times to
ensure complete homogenization.
The composite lengths varied from 4m to 28m with an average
length of 14m and represented 79 holes and 2,080m of drilling. The
composites were evenly spaced throughout the deposit at 40m to 60m
hole spacings.
The composites were assayed for a multi-element suite using XRF.
The composites were not analysed for Li(2) O. Li(2) O values were
assigned to the composites by preparing length-weighted averages of
Li(2) O in the individual drilling samples that made up each
composite.
Sample Analysis Method
For all Savannah drilling, whole samples were crushed then
riffle split to produce a 250g split for pulverising and
analysis.
The samples were analysed using ALS laboratories ME-MS89L Super
Trace method which combines a sodium peroxide fusion with ICP-MS
analysis and a multi-element suite was analysed. Samples and
composites analysed for oxides by x-ray florescence ('XRF') were
completed by ALS laboratories using the MEXRF26 whole rock fusion
method.
QAQC protocols were in place for the drilling programmes and
included the used of blanks, standards and field duplicates. The
data has confirmed the quality of the sampling and assaying for use
in Mineral Resource estimation.
Estimation Methodology
A methodology for the estimation of the co-product mineral
composition in the Mineral Resource block models has been derived
using normative mineralogy based on estimated oxide values. Where
sufficient oxide assay data is available (currently only the
Grandao deposit) this involves interpolation of oxide values using
the oxide data followed by normative mineralogy calculations in the
block model. This is considered to give a reliable estimate of the
pegmatite mineralogy.
Interpretation of the pegmatite dykes was completed using
detailed geological logging and Fe geochemistry as part of the
lithium Mineral Resource estimate. Wireframes of the pegmatites
were prepared and within those the sample data was extracted and
analysed. In addition to the two main pegmatite bodies, several
small pegmatites were also interpreted. Zones of unmineralised
schist within the pegmatite body were selectively wireframed and
excluded from the estimate.
Additional attributes of Quartz, Spodumene, Muscovite,
Microcline and Albite were added to the block model used for the
Grandao May 2019 estimate. XRF sample data was composited into 5m
intervals then the composites used to estimate block model grades
for Potassium (K(2) O) and Sodium (Na(2) O) using inverse distance
squared ("ID2") grade interpolation for all pegmatite zones. A
first pass search range of 300m was used and oriented to match the
dip and strike of the mineralisation. A minimum of 1 sample and a
maximum of 4 samples were used to estimate each block.
The normative mineralogy formulas define in Table 2 were then
applied to the model oxide grades and the mineral contents
estimated. As Li(2) O had already been estimated from the detailed
drilling data at Grandao, that value was used to determine the
spodumene content. The Albite and Microcline concentrations have
been summed to determine the total feldspar content.
Cut-off Grades
The economic extraction of co-product minerals is contingent on
the economic extraction of the lithium mineral resources at the
project. The co-product Mineral Resource has been limited to all
pegmatite material located inside the pit design being developed as
part of the ongoing feasibility study assessment. This pit is based
on a Whittle Optimisation using a revenue factor of US$685/t for a
6% Li(2) O spodumene concentrate. No lithium cutoff grade has been
applied to co-product mineral resource as the marketability of the
pegmatite materials is not dependent on an in situ grade.
Pegmatite material located outside the pit design has not been
reported in the Mineral Resource estimate.
Mining Methods
The shallow nature of the pegmatites suggests good potential for
open pit mining.
Classification Criteria
The Mineral Resource Estimate was classified in accordance with
the Australasian Code for the Reporting of Exploration Results,
Mineral Resources and Ore Reserves (JORC, 2012).
The main pegmatite dyke at Grandao has generally been drilled at
40m to 60m hole spacings with a portion of the deposit drilled at
closer spacings. The majority of holes in the main pegmatite at
Grandao have consistently intersected pegmatite, with the majority
intersecting resource grade Li(2) O mineralisation and the
continuity of lithium mineralisation is good.
Due to the consistent drill hole spacing defining excellent
continuity of lithology and mineralisation, uniform distribution of
co-product minerals and accurate location data, the well-drilled
portion of the upper pegmatite has been classified as Measured
Mineral Resource. This includes mineralisation drilled at 20m to
40m spacings where the pegmatite geometry is consistent and
mineralisation is uniform.
The portion of the deposit defined by 40m to 60m spaced drill
holes has been classified as Indicated Mineral Resource Estimate.
Where the main pegmatite showed good potential for further
extensions, the Indicated Mineral Resource Estimate was
extrapolated up to 60m past drill hole intersections and the
Inferred Mineral Resource Estimate was extrapolated a further
60m.
All minor pegmatite bodies were classified as an Inferred
Mineral Resource Estimate due to the lack of detailed drilling or
the uncertainty of geometry of the mineralisation.
The main shallow pegmatite at Grandao lies entirely above 250m
vertical depth. The deep pegmatite has been reported to a depth of
230m vertical.
Production and Marketing of Co-products
The minerals quartz and feldspar are major mineral components of
the Mina do Barroso pegmatites making up over 75% of the rock mass.
The pegmatite rock at Mina do Barroso has historically been mined
to supply material used in the manufacture of glass and ceramics
and current mining at NOA and Aldeia continue to supply high
quality feed for local ceramic producers.
Samples of the quartz and feldspar co-product from the Grandao
deposit have been successfully evaluated for use in a range of
industrial glass and ceramic applications. In each case,
comparisons were made against current commercial grades of quartz
and feldspar that are in regular use throughout Western Europe.
Representative samples were analysed for mineralogy, chemistry,
particle sizing and other properties so that comparisons could be
made against other leading material on the market and detailed
technical data sheets prepared.
Feldspars in Ceramic Glaze Formulations
High Grade Feldspar purified by froth flotation and Fine Grade
Feldspar (quartz/feldspar tailings) have both been evaluated as the
sole feldspathic flux component in a typical porcelain glaze
recipe.
Transparent porcelain glazes were prepared by Potterycrafts in
Stoke on Trent, comparing High Grade Feldspar against similar
products produced by Finnish supplier Sibelco and Fine Grade
Feldspar against Cornish Stone, supplied by Goonvean Ltd in
Cornwall, UK.
The prepared glazes were applied to a number of porcelain tiles
and fired to 1250 deg. C. No problems were encountered during the
preparation and firing of the trial glazes with no bubbles, foaming
or viscosity problems encountered. The fired tiles were similar in
appearance to the standard tiles and Savannah's High Grade Feldspar
is a satisfactory raw material for use in ceramic glaze
formulations.
Vitrification of Feldspar
Vitrification is the process of melting that ceramic raw
materials go through as they are fired to maturity. Feldspars are
used in ceramic body and glaze formulations as a flux to lower the
temperature of vitrification, hence reducing energy costs. They
form a glassy phase which cements refractory particles (quartz and
alumina) together and trigger the formation of mullite from clay
minerals.
In a fully vitreous ceramic body, the spaces between refractory
particles are completely filled up with glass, fusing the particles
together and making the body impervious to water.
Testing of the Savannah's products was positive with a summary
of key results below:
-- Vitrification tests indicate that Savannah's products can
match existing grades in commercial use for ceramic body and glaze
formulations
-- All firings showed a high level of whiteness, better than the
benchmark grades used for comparison
-- No dark specks, striations or inhomogeneity were found
Bone China Evaluation
Fine Grade and High Grade Feldspar from Savannah were each used
in the preparation of typical bone china bodies and compared
against a standard body containing feldspar supplied by Imerys.
The work was completed by Global Ceramic Materials (GCM), a
leading supplier of bone china bodies and ceramic raw materials
with major export contracts across the world. Savannah's Feldspar
products worked well within a traditional bone china body recipe.
Minor changes to processing and body recipes could be made to suit
the existing formulation and achieve the required product
specifications.
Hotel Ware
Savannah's High Grade Feldspar was used to produce ceramic bowls
destined for sale in the Asian hotelware market by two established
companies in Stoke in Trent. Ceramic bodies were prepared by
Furlong Mills Ltd, comparing a trial body containing High Grade
Feldspar against a standard body containing Forshammer feldspar, a
popular grade supplied by Sibelco from Sweden. The bowls were
pressed into shape, dried and fired at the Portmeirion factory. No
problems were encountered throughout the production process and the
trial bowls matched the standard in all aspects of appearance,
shape, contraction and colour were all identical.
Savannah's High Grade Quartz was also used to produce ceramic
bowls (different design) at Furlong Mills and Portmeirion, using
similar procedures as described above. The Savannah quartz was
compared against a standard body containing Loch Aline quartz, the
market leader in the UK, supplied by Gruppo Minerali &
Pilkingtons.
No problems were encountered throughout the production process
and the trial bowls matched the standard in all aspects of
appearance, shape, contraction and colour.
Container Glass
High Grade Quartz and High Grade Feldspar were used in typical
formulations for container glass, substituting for standard grades
in regular commercial use. The glass melt samples matched or
exceeded the benchmark in quality, showing no problems with seed,
bubbles, cord or inhomogeneity.
Float Glass
High Grade Feldspar was used in a typical formulation for float
glass, substituting for a standard grade in regular commercial use.
The glass melt samples matched or exceed the benchmark in quality,
showing no problems with seed, bubbles, cord or inhomogeneity.
Lead Crystal Glass
High Grade Quartz was used in a typical formulation for lead
crystal glass, substituting for a standard grade in regular
commercial use. The glass melt samples matched or exceed the
benchmark in quality, showing no problems with seed, bubbles, cord
or inhomogeneity.
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 Australasian 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.
The Information in this report that relates to Mineral Resources
is based on information compiled by Mr Paul Payne, a Competent
Person who is a Fellow of the Australasian Institute of Mining and
Metallurgy. Mr Payne is a full-time employee of Payne Geological
Services. Mr Payne has sufficient experience that is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity being undertaken to qualify as a Competent
Person as defined in the 2012 Edition of the "Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore
Reserves". Mr Payne consents to the inclusion in the report of the
matters based on his 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.
**S**
For further information please visit www.savannahresources.com
or contact:
David Archer Savannah Resources Tel: +44 20 7117 2489
plc
David Hignell / Charlie SP Angel Corporate Tel: +44 20 3470 0470
Bouverat (Nominated Adviser) Finance LLP
Christopher Raggett (Joint finnCap Ltd Tel: +44 20 7220 0500
Broker)
Grant Barker (Joint Broker) Whitman Howard Tel: +44 20 7659 1225
Melissa Hancock / Cosima St Brides Partners Tel: +44 20 7236 1177
Akerman (Financial PR) Ltd
About Savannah
Savannah is 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. The Board is committed
to serving the interests of its shareholders and to delivering
outcomes that will improve the lives of the communities we work
with and our staff.
The Company is listed and regulated on AIM and the Company's
ordinary shares are also available on the Quotation Board of the
Frankfurt Stock Exchange (FWB) under the symbol FWB: SAV, and the
Börse Stuttgart (SWB) under the ticker "SAV".
[APPIX 1 - JORC 2012 Table 1]
JORC Table 1 Section 1 Sampling Techniques and Data
Criteria JORC Code Explanation Commentary
Sampling
techniques * Nature and quality of sampling (e.g. cut channels, * The majority of holes were reverse circulation,
random chips, or specific specialised industry sampled at 1m intervals. RC samples were collected in
standard measurement tools appropriate to the large plastic bags from an onboard rig splitter and a
minerals under investigation, such as down hole gamma 4-6kg representative sample taken for analysis.
sondes, or handheld XRF instruments, etc). These
examples should not be taken as limiting the broad
meaning of sampling. * A substantial number of diamond holes were also
completed. Core was HQ size, sampled at 1m intervals
in the pegmatite, with boundaries sampled to
* Include reference to measures taken to ensure sample geological boundaries. Half core samples were
representivity and the appropriate calibration of any collected for analysis.
measurement tools or systems used.
* Drilling was on a nominal 40m by 40m to 80m by 80m
* Aspects of the determination of mineralisation that spacing with selected infill to 40m by 20m spacings.
are Material to the Public Report. In cases where
'industry standard' work has been done this would be
relatively simple (e.g. 'reverse circulation drilling * Collar surveys are carried using differential GPS
was used to obtain 1 m samples from which 3 kg was with an accuracy to within 0.2m.
pulverised to produce a 30 g charge for fire assay').
In other cases more explanation may be required, such
as where there is coarse gold that has inherent * A down hole survey for each hole was completed using
sampling problems. Unusual commodities or gyro equipment.
mineralisation types (e.g. submarine nodules) may
warrant disclosure of detailed information.
* The lithium mineralisation is predominantly in the
form of Spodumene-bearing pegmatites, the pegmatites
are unzoned and vary in thickness from 10m-109m.
------------------------------------------------------------ -----------------------------------------------------------------
Drilling -- RC drilling used a 120mm bit diameter.
techniques * Drill type (e.g. core, reverse circulation, open-hole * Core drilling was carried out using an HQ triple tube
hammer, rotary air blast, auger, Bangka, sonic, etc) core barrel.
and details (e.g. core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by
what method, etc).
------------------------------------------------------------ -----------------------------------------------------------------
Drill sample
recovery * Method of recording and assessing core and chip * RC drilling sample weights were monitored to ensure
sample recoveries and results assessed. samples were maximised. Samples were carefully loaded
into a splitter and split in the same manner ensuring
that the sample split to be sent to the assay
* Measures taken to maximise sample recovery and ensure laboratories were in the range of 4-6kg.
representative nature of the samples.
* Core recovery was measured and was found to be
* Whether a relationship exists between sample recovery generally excellent.
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material. * No obvious relationships between sample recovery and
grade.
------------------------------------------------------------ -----------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * RC holes were logged in the field at the time of
and geotechnically logged to a level of detail to sampling. Core was logged in detail in a logging
support appropriate Mineral Resource estimation, yard.
mining studies and metallurgical studies.
* Each 1m sample interval was carefully homogenised and
* Whether logging is qualitative or quantitative in assessed for lithology, colour, grainsize, structure
nature. Core (or costean, channel, etc) photography. and mineralisation.
* The total length and percentage of the relevant * A representative chip sample produced from RC
intersections logged. drilling was washed and taken for each 1m sample and
stored in a chip tray which was photographed.
* Core was photographed.
------------------------------------------------------------ -----------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * 1m RC samples were split by the riffle splitter on
and sample half or all core taken. the drill rig and sampled dry.
preparation
* If non-core, whether riffled, tube sampled, rotary * The 4m composites were collected using a spear with
split, etc and whether sampled wet or dry. the spear inserted into the bag at a high angle and
pushed across the sample to maximise representivity
of the sample.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* Core was cut in half using a diamond saw with 1m half
core samples submitted for analysis.
* Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples. * The sampling was conducted using industry standard
techniques and were considered appropriate.
* Measures taken to ensure that the sampling is
representative of the in situ material collected, * Field duplicates were used to test repeatability of
including for instance results for field the sub-sampling and were found to be satisfactory.
duplicate/second-half sampling.
* Every effort was made to ensure that the samples were
* Whether sample sizes are appropriate to the grain representative and not biased in any way.
size of the material being sampled.
* For the ceramics mineralogy composites, the pegmatite
portions of 79 drill holes were identified and 10g
portion of individual pulps were combined in the
laboratory to produce 141 composites for analysis.
------------------------------------------------------------ -----------------------------------------------------------------
Quality of
assay data * The nature, quality and appropriateness of the * Samples were received, sorted, labelled and dried.
and assaying and laboratory procedures used and whether
laboratory the technique is considered partial or total.
tests * Samples were crushed to 70% less than 2mm, riffle
split off 250g, pulverise split to better than 85%
* For geophysical tools, spectrometers, handheld XRF passing 75 microns and 5g was split of for assaying.
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their * The samples were initially analysed using ALS
derivation, etc. Laboratories ME-MS89L Super Trace method which
combines a sodium peroxide fusion with ICP-MS
instrumentation utilising collision/reaction cell
* Nature of quality control procedures adopted (e.g. technologies to provide the lowest detection limits
standards, blanks, duplicates, external laboratory available.
checks) and whether acceptable levels of accuracy
(i.e. lack of bias) and precision have been
established. * A prepared sample (0.2g) is added to sodium peroxide
flux, mixed well and then fused in at 670degC. The
resulting melt is cooled and then dissolved in 30%
hydrochloric acid. This solution is then analysed by
ICP-MS and the results are corrected for spectral
inter-element interferences.
* The final solution is then analysed by ICP-MS, with
results corrected for spectral inter-element
interferences.
* Standards/blanks and duplicates were inserted on a
1:20 ratio for both to samples taken.
* Duplicate sample regime is used to monitor sampling
methodology and homogeneity.
* Samples analysed by x-ray florescence (XRF) were
completed by ALS laboratories MEXRF26 whole rock
fusion method.
* A QA/QC review of all information indicated that all
assays were satisfactory.
------------------------------------------------------------ -----------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * All information was internally audited by company
and assaying either independent or alternative company personnel. personnel.
* The use of twinned holes. * Several historical holes were twinned for comparison
purposes with the modern drilling.
* Documentation of primary data, data entry procedures,
data verification, data storage (physical and * Savannah's experienced project geologists supervised
electronic) protocols. all processes.
* Discuss any adjustment to assay data. * All field data is entered into a custom log sheet and
then into excel spreadsheets (supported by look-up
tables) at site and subsequently validated as it is
imported into the centralised Access database.
* Hard copies of logs, survey and sampling data are
stored in the local office and electronic data is
stored on the main server.
* Results were reported as Li (ppm) and were converted
to a percentage by dividing by 10,000 and then to
Li(2) O% by multiplying by 2.153.
* Oxide results were reported as percentage values
------------------------------------------------------------ -----------------------------------------------------------------
Location of
data points * Accuracy and quality of surveys used to locate drill * The coordinate of each drill hole was taken at the
holes (collar and down-hole surveys), trenches, mine time of collecting using a handheld GPS with an
workings and other locations used in Mineral Resource accuracy of 5m. All collars were subsequently
estimation. surveyed using DGPS with an accuracy of 0.2m.
* Specification of the grid system used. * The grid system used is WSG84.
* Quality and adequacy of topographic control. * An accurate, aerial topographic survey was obtained
with accuracy of +/- 0.5m.
------------------------------------------------------------ -----------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Drilling was on a nominal 40m by 40m to 80m by 80m
distribution spacing and based on geological targets with selected
infill to 40m by 20m.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource * Drill data is at sufficient spacing to define
and Ore Reserve estimation procedure(s) and Measured, Indicated and Inferred Mineral Resource.
classifications applied.
* Compositing to 1m has been applied prior to resource
* Whether sample compositing has been applied. estimation.
------------------------------------------------------------ -----------------------------------------------------------------
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Drilling was generally vertical and intersected the
relation to sampling of possible structures and the extent to gently dipping deposit at close to orthogonal to the
geological which this is known, considering the deposit type. known dip of the main pegmatite.
structure
* If the relationship between the drilling orientation * Intersections were close to true width for the main
and the orientation of key mineralised structures is pegmatite.
considered to have introduced a sampling bias, this
should be assessed and reported if material.
* No orientation-based sampling bias has been
identified in the data.
------------------------------------------------------------ -----------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * Samples were delivered to a courier and chain of
custody is managed by Savannah.
------------------------------------------------------------ -----------------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of sampling * Internal company auditing and a review by PayneGeo
techniques and data. during the April 2018 site visit found that all data
collection and QA/QC procedures were conducted to
industry standards.
------------------------------------------------------------ -----------------------------------------------------------------
JORC Table 1 Section 2 Reporting of Exploration Results
Criteria JORC Code explanation Commentary
Mineral
tenement and * Type, reference name/number, location and ownership * All work was completed inside the Mina do Barroso
land tenure including agreements or material issues with third project C-100.
status parties such as joint ventures, partnerships,
overriding royalties, native title interests,
historical sites, wilderness or national park and * Savannah has received written confirmation from the
environmental settings. DGEG that under article 24 of Decree-Law no. 88/90 of
March 16 being relevant justification based on the
resources allocated exploited and intended, Savannah
* The security of the tenure held at the time of has been approved an expansion up to 250m of C100
reporting along with any known impediments to mining concession in specific areas where a resource
obtaining a license to operate in the area. has been defined and the requirement for the
expansion can be justified.
---------------------------------------------------------------- ------------------------------------------------------------
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Limited exploration work has been carried out by
parties parties. previous operators.
* No historic information has been included in the
Mineral Resource estimates.
---------------------------------------------------------------- ------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * The lithium mineralisation is predominantly in the
mineralisation. form of Spodumene-bearing pegmatites which are hosted
in meta-pelitic and mica schists, and occasionally
carbonate schists of upper Ordovician to lower
Devonian age. The pegmatites vary in thickness from
15m-109m.
* The pegmatite bodies are comprised largely of
silicate minerals. The average composition determined
by XRD was albite 38%, quartz 27%, spodumene 12%,
muscovite 12% and microcline 10%. Undetermined
minerals accounted for 1.5% of the rock mass
---------------------------------------------------------------- ------------------------------------------------------------
Drill hole
information * A summary of all information material to the * Grid used WSG84.
under-standing of the exploration results including a
tabulation of the following information for all
Material drill holes: * No material data has been excluded from the release.
* easting and northing of the drill hole collar * Drill hole intersections used in the resource have
been previously reported.
* elevation or RL (Reduced Level - elevation above sea
level in metres) of the drill hole collar
* dip and azimuth of the hole
* down hole length and interception depth
* hole length
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
---------------------------------------------------------------- ------------------------------------------------------------
Data * Exploration results are not being reported.
aggregation * In reporting Exploration Results, weighting averaging
methods techniques, maximum and/or minimum grade truncations
(e.g. cutting of high grades) and cut-off grades are
usually Material and should be stated.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
---------------------------------------------------------------- ------------------------------------------------------------
Relationship
between * These relationships are particularly important in the * The majority of holes have been drilled at angles to
mineralisation reporting of Exploration Results. intersect the mineralisation approximately
widths and perpendicular to the orientation of the mineralised
intercept trend.
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be
reported. * The geometry of the steep pegmatite at Grandao is
steep dipping and some holes have drilled at a close
angle to the mineralisation in that part of the
* If it is not known and only the down hole lengths are deposit.
reported, there should be a clear statement to this
effect (e.g.'down hole length, true width not
known').
---------------------------------------------------------------- ------------------------------------------------------------
Diagrams
* Appropriate maps and sections (with scales) and * A relevant plan showing the drilling is included
tabulations of intercepts should be included for any within this release.
significant discovery being reported. These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
---------------------------------------------------------------- ------------------------------------------------------------
Balanced
Reporting * Accuracy and quality of surveys used to locate drill * All relevant results available have been previously
holes (collar and down-hole surveys), trenches, mine reported.
workings and other locations used in Mineral Resource
estimation.
* Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
---------------------------------------------------------------- ------------------------------------------------------------
Other
substantive * Other exploration data, if meaningful and material, * Geological mapping and rock chip sampling has been
exploration should be reported including (but not limited to): conducted over the project area.
data geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
---------------------------------------------------------------- ------------------------------------------------------------
Further work
* The nature and scale of planned further work (e.g. * Further RC and DD drilling to test for further
tests for lateral extensions or depth extensions or extensions and to increase confidence.
large- scale step-out drilling).
* Economic evaluation of the defined Mineral Resources.
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
---------------------------------------------------------------- ------------------------------------------------------------
JORC Table 1 Section 3 Estimation and Reporting of Mineral
Resources
Criteria JORC Code explanation Commentary
Database
integrity * Measures taken to ensure that data has not been * The assay data was captured electronically to prevent
corrupted by, for example, transcription or keying transcription errors.
errors, between its initial collection and its use
for Mineral Resource estimation purposes.
* Validation included visual review of results.
* Data validation procedures used.
------------------------------------------------------------ -----------------------------------------------------------------
Site visits
* Comment on any site visits undertaken by the * Numerous site visits were undertaken by Dale Ferguson
Competent Person and the outcome of those visits. in 2017 which included an inspection of the drilling
process, outcrop area and confirmation that no
obvious impediments to future exploration or
* If no site visits have been undertaken indicate why development were present.
this is the case.
* A site visit by Paul Payne was undertaken in April
2018 to confirm geological interpretations, drilling
and sampling procedures and general site layout.
------------------------------------------------------------ -----------------------------------------------------------------
Geological
interpretation * Confidence in (or conversely, the uncertainty of) the * The pegmatite dykes hosting the Grandao
geological interpretation of the mineral deposit. mineralisation are well defined in outcrop and in
drilling and boundaries are generally very sharp and
distinct.
* Nature of the data used and of any assumptions made.
* Zonation of lithium within the pegmatite is evident,
* The effect, if any, of alternative interpretations on and typically the margins are weakly mineralised.
Mineral Resource estimation.
* Xenoliths or inliers of barren schist country rock
* The use of geology in guiding and controlling Mineral occur within the pegmatite, and these have been
Resource estimation. excluded from the estimate where large enough to
model.
* The factors affecting continuity both of grade and
geology.
------------------------------------------------------------ -----------------------------------------------------------------
Dimensions
* The extent and variability of the Mineral Resource * The Grandao main pegmatite has a drilled extent of
expressed as length (along strike or otherwise), plan 500m NS and 700m EW and a maximum vertical depth of
width, and depth below surface to the upper and lower 200m. The thickness of the mineralisation ranges from
limits of the Mineral Resource. 10m to 60m.
* The Grandao lower pegmatite has a modelled strike
extent of 320m NS and a dip extent of 230m and a
maximum vertical depth of 150m. The true thickness of
the mineralisation ranges from 15m to 20m.
------------------------------------------------------------ -----------------------------------------------------------------
Estimation and
modelling * The nature and appropriateness of the estimation * Inverse distance squared was used to estimate block
techniques technique(s) applied and key assumptions, including grades for oxides within the resource.
treatment of extreme grade values, domaining,
interpolation parameters and maximum distance of
extrapolation from data points. If a computer * Surpac software was used for the estimation.
assisted estimation method was chosen include a
description of computer software and parameters used.
* Samples with XRF oxide values were composited to 5m
intervals. Due to the extremely low CV of the data no
* The availability of check estimates, previous high grade cuts were applied to oxides in the
estimates and/or mine production records and whether estimate.
the Mineral Resource estimate takes appropriate
account of such data.
* At Grandao the parent block dimensions were 10m EW by
20m NS by 5m vertical with sub-cells of 2.5m by 5m by
* The assumptions made regarding recovery of 2.5m. Cell size was based on the original lithium
by-products. block model.
* Estimation of deleterious elements or other non-grade * No previous by-product estimate has been reported.
variables of economic significance (e.g. sulphur for The previous lithium resource was reported in March
acid mine drainage characterisation). 2019.
* In the case of block model interpolation, the block * The recovery of by-products has been determined by
size in relation to the average sample spacing and preliminary metallurgical test work.
the search employed.
* An orientated ellipsoid search was used to select
* Any assumptions behind modelling of selective mining data and was based on drill hole spacing and the
units. geometry of the pegmatite dyke.
* Any assumptions about correlation between variables. * A search of 300m was used with a minimum of 1 sample
and a maximum of 4 samples which resulted in all
blocks being estimated.
* Description of how the geological interpretation was
used to control the resource estimates.
* Selective mining units were not modelled in the
Mineral Resource model. The block size used in the
* Discussion of basis for using or not using grade model was based on drill sample spacing and deposit
cutting or capping. geometry.
* The process of validation, the checking process used, * The oxide mineralisation was constrained by
the comparison of model data to drill hole data, and wireframes prepared to define the pegmatite bodies.
use of reconciliation data if available.
* For validation, quantitative spatial comparison of
block grades to assay grades was carried out using
swath plots.
* Global comparisons of drill hole and block model
grades were also carried out.
------------------------------------------------------------ -----------------------------------------------------------------
Moisture
* Whether the tonnages are estimated on a dry basis or * Tonnages and grades were estimated on a dry in situ
with natural moisture, and the method of basis. No moisture values were reviewed.
determination of the moisture content.
------------------------------------------------------------ -----------------------------------------------------------------
Cut-off
parameters * The basis of the adopted cut-off grade(s) or quality * The economic evaluation being carried out for the
parameters applied. lithium mineralisation at Grandao has confirmed that
good potential exists for open pit mining if
sufficient resources can be delineated to consider a
mining operation.
* Pit optimisation and project evaluation has allowed a
pit shell to be generated which represents a likely
life-of-mine pit.
* The ceramics Mineral Resource has been restricted to
only the pegmatite lying within the pit shell. It is
reported without a cut-off grade as all pegmatite
recovered from the pit has the potential to be
processed either by processing of tailings or as a
bulk product.
------------------------------------------------------------ -----------------------------------------------------------------
Mining factors
or assumptions * Assumptions made regarding possible mining methods, * Based on comparison with other similar deposits, the
minimum mining dimensions and internal (or, if Mineral Resource is considered to have sufficient
applicable, external) mining dilution. It is always grade and metallurgical characteristics for economic
necessary as part of the process of determining treatment if an operation is established at the site.
reasonable prospects for eventual economic extraction
to consider potential mining methods, but the
assumptions made regarding mining methods and * No mining parameters or modifying factors have been
parameters when estimating Mineral Resources may not applied to the Mineral Resource.
always be rigorous. Where this is the case, this
should be reported with an explanation of the basis
of the mining assumptions made.
------------------------------------------------------------ -----------------------------------------------------------------
Metallurgical
factors or * The basis for assumptions or predictions regarding * Metallurgical test work has been conducted by
assumptions metallurgical amenability. It is always necessary as Savannah on representative mineralisation at the
part of the process of determining reasonable project. The work was completed by Nagrom
prospects for eventual economic extraction to Metallurgical in Australia and confirmed that
consider potential metallurgical methods, but the feldspar, micas and quartz has the potential to be
assumptions regarding metallurgical treatment recovered by processing of the tailings from lithium
processes and parameters made when reporting Mineral production.
Resources may not always be rigorous. Where this is
the case, this should be reported with an explanation
of the basis of the metallurgical assumptions made. * Additional metallurgical test work is underway.
------------------------------------------------------------ -----------------------------------------------------------------
Environmental
factors or * Assumptions made regarding possible waste and process * The area is not known to be environmentally sensitive
assumptions residue disposal options. It is always necessary as and there is no reason to think that proposals for
part of the process of determining reasonable development including the dumping of waste would not
prospects for eventual economic extraction to be approved if planning and permitting guidelines are
consider the potential environmental impacts of the followed.
mining and processing operation. While at this stage
the determination of potential environmental impacts,
particularly for a greenfields project, may not
always be well advanced, the status of early
consideration of these potential environmental
impacts should be reported. Where these aspects have
not been considered this should be reported with an
explanation of the environmental assumptions made.
------------------------------------------------------------ -----------------------------------------------------------------
Bulk density
* Whether assumed or determined. If assumed, the basis * Bulk density determinations were carried out on 3,370
for the assumptions. If determined, the method used, core samples. Bulk density values applied to the
whether wet or dry, the frequency of the measurements estimates were 2.5t/m(3) for transitional lithologies
, ,
the nature, size and representativeness of the 2.65t/m(3) for unoxidised pegmatite and 2.67t/m(3)
samples. for unoxidised schist.
* The bulk density for bulk material must have been
measured by methods that adequately account for void
spaces (vugs, porosity, etc), moisture and
differences between rock and alteration zones within
the deposit.
* Discuss assumptions for bulk density estimates used
in the evaluation process of the different materials.
------------------------------------------------------------ -----------------------------------------------------------------
Classification
* The basis for the classification of the Mineral * The Mineral Resources was classified in accordance
Resources into varying confidence categories. with the Australasian Code for the Reporting of
Exploration Results, Mineral Resources and Ore
Reserves (JORC, 2012).
* Whether appropriate account has been taken of all
relevant factors (i.e. relative confidence in
tonnage/grade estimations, reliability of input data, * The portion of the deposit defined by 40m by 20m to
confidence in continuity of geology and metal values, 40m by 40m drilling and showing excellent continuity
quality, quantity and distribution of the data). of geology and Li(2) O grade has been reported as
Measured Mineral Resource.
* Whether the result appropriately reflects the
Competent Person's view of the deposit. * The portion of the deposit defined by 40m by 40m to
80m by 80m drilling has been reported as Indicated
Mineral Resource.
* The remainder of the Mineral Resource was classified
as Inferred due the sparse drilling. Inferred Mineral
Resource was extrapolated up to 120m past drill hole
intersections.
* The results reflect the view of the Competent Person.
------------------------------------------------------------ -----------------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of Mineral * The Mineral Resource estimate has been checked by an
Resource estimates. internal audit procedure.
------------------------------------------------------------ -----------------------------------------------------------------
Discussion of
relative * Where appropriate a statement of the relative * The estimate utilised good estimation practices, high
accuracy/ accuracy and confidence level in the Mineral Resource quality drilling, sampling and assay data. The extent
confidence estimate using an approach or procedure deemed and dimensions of the mineralisation are sufficiently
appropriate by the Competent Person. For example, the defined by outcrop and the detailed drilling. The
application of statistical or geostatistical deposit is considered to have been estimated with a
procedures to quantify the relative accuracy of the high level of accuracy.
resource within stated confidence limits, or, if such
an approach is not deemed appropriate, a qualitative
discussion of the factors that could affect the * The Mineral Resource statement relates to global
relative accuracy and confidence of the estimate. estimates of tonnes and grade.
* The statement should specify whether it relates to * There is no historic production data to compare with
global or local estimates, and, if local, state the the Mineral Resource.
relevant tonnages, which should be relevant to
technical and economic evaluation. Documentation
should include assumptions made and the procedures
used.
* These statements of relative accuracy and confidence
of the estimate should be compared with production
data, where available.
------------------------------------------------------------ -----------------------------------------------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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