19.7 C
Belgrade
Supported byspot_img
spot_img

Savannah shares up on new Portugal lithium discovery

Member of Europium Groupspot_img
Supported byspot_img

The share price of diversified junior Savannah Resources jumped 6% on Wednesday on news of three newly discovered pegmatites at the Pinheiro deposit at the Mina do Barroso lithium project, in northern Portugal.

Pinheiro is now the fourth major deposit in the mining lease and has the potential to increase the mineral resource estimate to more than 20-million tonnes, for over 200 000 t of contained lithium, the company said in a statement.

“Having already increased our mineral resource estimate by more than 500% in a little over a year we are excited by the discovery of three new pegmatites at the Pinherio deposit, which could further enhance the scheduling flexibility of a mine development and add to the overall mine life at Mina do Barroso,” said CEO David Archer.

Supported by

Work at Pinheiro would be fast-tracked to be included in the feasibility study for the MdB project.

Shares in Savannah traded 6.72% higher at 6.35p each on Wednesday.

Source: miningweekly

Supported byElevatePR Digital

Related News

Rio Tinto challenges Serbian government with arbitration notice on Jadar project

Background of the dispute: Jadar project and environmental protests The British-Serbian activist group Earth Thrive has reported that Rio Tinto has officially notified the Serbian...

There is no technology that guarantees the safe processing of lithium in the form it exists in Serbia

The Rio Tinto lithium mining project has never been conclusively dismissed, just paused, waiting for the dust to settle before being reintroduced with even...

“Jadar” will not pollute river streams

As the discussion about the "Jadar" project has reignited in recent days, the public in Serbia remains confused by the extremely contradictory narratives about...

Serbia’s lithium mining revival: Implications for EU membership and geopolitics

Serbia is aiming to position itself as a significant supplier of lithium in Europe, reviving a contentious mining project that was previously abandoned due...
Supported by
Supported by
Supported by
error: Content is protected !!