24 July 2018
Savannah Resources Plc
Primero Group Appointed as the Primary Engineering Group to Develop the Feasibility Study for the Mina do Barroso Lithium Project
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 experienced lithium consulting engineers Primero Group ('Primero') to lead the Feasibility Study for the development of the Mina do Barroso Lithium Project ('Mina do Barroso' or the 'Project') in Portugal.
HIGHLIGHTS:
· The Feasibility Study will build on the excellent outcomes of the Scoping Study completed in June 2018, which confirmed Mina do Barroso has the potential to be a major European producer of spodumene (lithium)
· A mine and concentrator plant model will be further developed based around Mina do Barroso's deposits for the production of a lithium concentrate with additional ceramic co-products
· Primero has an extensive track record in the assessment, design, delivery and operation of lithium projects globally and is currently partnered with Tawana, Galaxy, Pilbara Minerals and Piedmont
· Primero will also bring knowledge and understanding of specific ceramic related co-products such as feldspar and quartz and their processing
· Results of the Feasibility Study, which is fully funded following the Company's recent £12.5 million (gross) fundraise, are expected to be available towards the end of Q1 2019
Savannah's CEO, David Archer said: "We are pleased to have commissioned Primero which is one of the global leaders in the evaluation, design and construction of hard rock, open-cut, spodumene mines like Mina do Barroso. Primero's experience will be critical in guiding us towards our objective of being the first major producer of lithium in Western Europe by 2020."
Scope of Work
The Feasibility Study will continue to develop Mina do Barroso to a level of detail adequate to support project financing. The study will cover the project setting, geology and resource definition, mining, metallurgy, processing, infrastructure, market review, capital and operating cost estimates, financial modelling, human resources, environmental, social aspects, project approvals, project risk review and project development plans.
Primero will take the lead role in the development of the Feasibility Study and will be supported by various sub-consultants that will provide specialist design services for specific areas of the project.
About Primero Group - https://www.primero.com.au/minerals/
Primero is a leading provider of diversified engineering services to the global resources industry, who specialise in the design, construction, operation and maintenance of mineral processing facilities and their associated infrastructure. Primero has multi-disciplinary engineering teams with a deep understanding of lithium projects and will apply this know-how to support the development of Mina do Barroso.
Primero brings valuable hard rock lithium experience to the Project, having been engaged on recent lithium projects in Australia, North America and South America at both the study and EPC project delivery level.
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.
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 / Camille Gochez (Broker) |
finnCap Ltd |
Tel: +44 20 7220 0500 |
Grant Barker (Equity Adviser) |
Whitman Howard |
Tel: +44 020 7659 1225 |
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".
