Savannah Resources PLC: Metallurgical test work Confirms that High Quality Saleable Quartz
Mina do Barroso Lithium Project
Savannah Resources plc (AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah' or the 'Company'), the AIM quoted resource development company, which is focused on becoming Europe's most significant producer of lithium spodumene concentrates from its Portuguese Mina do Barroso Project ('Mina do Barroso', 'MdB' or 'the Project'), is pleased to announce that its ongoing metallurgical test work has successfully produced saleable quartz and feldspar products.
- High quality, saleable quartz and feldspar co-products producedfrom ongoing metallurgical test work programme
-- Co-products will be produced from further processing of the tail material from the spodumene concentration process
- Initial indications are that the following products can be produced and market studies by First Test Minerals have been completed to provide some indicative pricings for the products:
-- Feldspar(Na2O+K2O+Li2O grades >12%) potential price range of US$65-100/tonne
-- Quartz(99.6% pure) potential price range US$60-100/tonne
-- Bulk Tail(Na2O+K2O+Li2O grades >7%) potential price range of US$40-45/tonne
-- All products have low levels of potential impurities, below maximum limits specified by customers
- Importantly, the potential pricing of the productswhich can be produced have been identified as being significantly higher, by First Test Minerals, than those conservative values used in the recent Scoping Studyof US$39/tonne for feldspar and US$33/tonne for quartz
- Test work for co-product and specifications independently evaluated and confirmedby ceramics industry expert, First Test Minerals Ltd
- Bulk co-products currently being generated for further evaluation by potential customers and preliminary offtake discussions are underwaywith a number of potential parties
- Significant environmental benefitfrom the sale of co-products, reducing the potential size of the footprint of any potential operation
- Sale of co-products to prove economically beneficial for the Company, through the diversification of asset products
Savannah's CEO, David Archer said:"The area in which we operate is a major quarrying region for ceramic materials which supply the vibrant ceramics industries in both Portugal and Spain. Importantly, having multiple product streams means we are maximising the value adding potential of the Project while also reducing the volume of non-saleable material that will need to be emplaced on site in contoured and vegetated landforms. I look forward to providing further updates as we progress our Feasibility Study towards delivery in 2019."
Please click on the following link to the complete press release: http://www.rns-pdf.londonstockexchange.com/rns/3197K_1-2018-12-12.pdf
For further information please visit www.savannahresources.comor contact:
David Archer (CEO) 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
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 our staff and the communities we work with.
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".