Savannah pleased with progress at Mina do Barroso

The AIM-traded firm said results for holes 18GRARC66 to 18GRARC78 had now been received.

It explained that drilling to date at Grandao and Grandao Extended had now defined a “virtually continuous” zone of shallowly westerly dipping pegmatite from surface to a vertical depth of over 100m and covering a zone of approximately 550m long and up to 450m wide, confirming the excellent potential of the zone.

A total of 135 holes for 11,083m had been drilled to date, as part of the ongoing reverse circulation and diamond drill programme across three primary targets of Grandao, Reservatorio and NOA.

The Hatch scoping study and resource estimation update remained on schedule to be completed towards the end of the second quarter.

Phase 3 of the metallurgical test work programme, comprising diamond drilling, was now complete, with samples having arrived at Nagrom in Perth for testing, which was on schedule to be completed in the third quarter.

Diamond drilling of the sub-vertical body at Grandao had now commenced as well.

“We continue to see very encouraging results from the drilling of Grandao Extended which, together with Grandao, are matched by a very low stripping ratio,” said Savannah CEO David Archer.

“We believe this highlights the significant expansion potential available at Mina do Barroso as we continue to fast-track the project towards production.”