SAVANNAH RESOURCES PLC

Earnings Release • Jul 11, 2024

National Storage Mechanism | Additional information

RNS Number : 9579V

Savannah Resources PLC

11 July 2024

11 July 2024                                                                                 

Savannah Resources Plc

(AIM: SAV, FWB: SAV and SWB: SAV) ('Savannah', or the 'Company')

Further results from DFS Phase 1 drilling confirm resource expansion potential

Savannah Resources plc ('Savannah' or the 'Company'), the resource development company, is pleased to announce further results from the first phase of the current two stage DFS drilling programme at the Barroso Lithium Project ('the Project') located in northern Portugal (Figure 1). The Project, currently with a 28Mt @ 1.05% Li2O Mineral Resource, is Europe's most significant spodumene lithium deposit.

Highlights:

·    Savannah reports significant lithium assays which it has received from a further 8 diamond drill holes (4 at Pinheiro, 3 at NOA, 1 at Reservatório) undertaken for geotechnical, metallurgical, and resource purposes as part of the Phase 1 DFS drill programme.

·    At Pinheiro, where 2 pegmatite bodies (the Eastern and the Western), have been previously identified, the results from metallurgical and resource diamond drilling, have confirmed the tenure of lithium mineralisation from Reverse Circulation ('RC') drilling (see 12 March RNS) and highlight the potential for the expansion of the resource.

·    Significant lithium mineralisation intersections at the Western pegmatite at Pinheiro include:

o  36.5m @ 1.24% Li2O from 33.5m in 24PNRDD003

o  16.48m @ 1.22% Li2O from 41.02m in 24PNRDD004

o  14.08m @ 1.04% Li2O from 9.32m in 24PNRDD007

o  16.43m @ 1.57% Li2O from 18.57m and 11m @ 0.79% Li2O from 61m in 24PNRDD008 (vertical hole not true widths)

·    The diamond holes at Pinheiro also show that mineralisation continues to the north on the Western Pegmatite, outlining the greater resource potential, to be tested in the second phase of drilling.

·    At NOA two metallurgical holes that twinned previous RC drilling and a geotechnical hole confirm the continuity of lithium mineralisation.

·    Significant lithium mineralisation intersections at NOA include:

o  9.86m @ 1.3% Li2O from 49.14m in 24NOADD011 (twinned holes)

o  5.45m @ 1.25% Li2O from 0.35m in 24NOADD010 (twinned holes)

and 21m @ 1.26% Li2O from 31m

·    At Reservatório a diamond hole drilled for geotechnical purposes intersected 53.1m of pegmatite and aplite and shows that the Reservatório pegmatite continues to be mineralised at depth.

·    Significant lithium mineralised intersections at Reservatório include:

o  7m @ 1.16% Li2O from 143m, 5.7m @ 0.81% Li2O from 172m and 6.5m @ 1.22% Li2O from 180.5m in 24RESDD013

·    Note that the geotechnical holes were designed to gain structural information about the designed pit walls and the pegmatite intercepts were incidental to that.

·    Next steps: Once the remaining phase 1 assays have been received, analysed and any further significant assays reported, planning for phase 2 of the programme can then be completed.

Savannah's Technical Director, Dale Ferguson said , "Though the resource drilling of our Phase 1 DFS campaign finished in February, we still have assays coming back from some diamond drillholes which were completed towards the end of the campaign, including from geotechnical and metallurgical holes. The results we have announced today, which come from holes at Pinheiro, NOA and Reservatório, all confirm the dual potential, highlighted by earlier results, for these orebodies to contain areas of higher-grade mineralisation than previously identified and to extend in multiple directions.

"In terms of next steps regarding the ongoing drilling campaign, any further assays of note from Phase 1 will be reported once received and we shall complete our planning of phase 2. Many other workstreams relating to the DFS are also being progressed, supported by the recent financing received from our new strategic partner, AMG Critical Materials N.V ('AMG'). We will provide further details on these fronts in due course.

"The technical team and I are expecting another busy period during the second half of year as we look to move forward with all our key deliverables and begin to work more closely with AMG on technical matters, as well as the highly experienced consultants we are using for the Project's DFS, remaining environmental licencing work, and the associated access road."

Further Information

As previously announced, Savannah has completed the first of two phases of drilling at the Barroso Lithium Project as part of the ongoing Definitive Feasibility Study (DFS) (Figure 1). The programme consisted of drilling for resource, metallurgical and geotechnical purposes using primarily RC with some diamond drilling for the resource work and diamond drilling for the metallurgical and geotechnical requirements. A total of 6154m was drilled overall in phase one including water bore drilling. All the core from phase 1 has now been logged with the majority of assays now received from third party laboratories. Significant assays, including those reported in this RNS, have been announced. Any remaining significant assays will be announced once received.

Figure 1. Barroso Lithium Project summary map showing deposits and drill hole locations.

Pinheiro

At Pinheiro, two metallurgical diamond holes were drilled across the Western Pegmatite in the vicinity of recent RC and water bore drilling that returned extensive intercepts of lithium mineralisation (Figure 2) (see RNS 12 March 2024). The diamond drill holes were able to be drilled near perpendicular to the dip of the pegmatite giving a good indication of the true width of mineralisation in the Western Pegmatite and confirming the tenure outlined in the previous drilling. Results of 36.5m at 1.24% Li2O from 33.5m in 24PNRDD003 and 16.48m at 1.22% Li2O from 41.02m in 24PNRDD004 have confirmed the potential shown by previous RC drilling that the Western Pegmatite appears to increase in width and grade at depth.

In addition, two further diamond holes were drilled for exploration purposes at the known northern extent of the Western Pegmatite and continued to intersect the pegmatite, proving its continuity towards the north. Hole 24PNRDD007, which was drilled across strike indicated a true width at surface of 15m. Hole 24PNRDD008 was drilled vertically due to rig access issues and followed the pegmatite at a shallow angle to the dip, intersecting the pegmatite for approximately 65m. Although the intercept does not reflect the true width of the pegmatite, when viewed in cross section it is apparent that the pegmatite is increasing in width at depth (Figures 3 and 4).

Figure 2. Location of Phase 1 diamond drilling at Pinheiro with significant intercepts from assays received to date.

Figure 3 . Cross section 1 of Pinheiro deposit.

Figure 4. Cross section 2 of Pinheiro deposit.

NOA

At NOA, results have been received from two metallurgical drill holes and one geotechnical drill hole that intersected the pegmatite. Drill holes 24NOADD010 and 24NOADD011 were drilled as twins of previous RC holes (18NOARC012 and 17NOARC004 respectively) to get representative core for metallurgical testing. The results were as expected with similar widths and grades to the previous drilling and are considered representative of the ore that will be processed during mining. The third diamond hole 24NOADD007 was a geotechnical hole drilled at the western end of the main pegmatite and results were as expected (Figure 5).

Figure 5. Location of Phase 1 diamond drilling at NOA with significant intercepts from assays received to date.

Reservatório

At Reservatório a diamond drill hole was drilled for geotechnical purposes to intersect the base of the designed pit to gain structural information. The hole intersected 53.1m of pegmatite/aplite, which was a much greater thickness than has been modelled previously at this location. The assay results that were received indicate two mineralised zones, one along the hanging wall and the other along the footwall of the body (Hanging wall: 7m at 1.16% Li2O from 143m and Footwall: 6.5m at 1.22% Li2O from 180.5m). The results are still being interpreted but possibly indicate the coalition of a deeper pegmatite with the main Reservatório pegmatite (Figures 6 and 7).

Figure 6. Location of Phase 1 diamond drilling at Reservatório with significant intercepts from assays results.

Figure 7 . Cross section 1 of Reservatório deposit.

Next steps

Planning is currently underway for Phase 2 of the DFS drilling programme with the results from Phase 1 being used to fine tune the planned holes to infill and extend the known lithium mineralisation.

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.

Regulatory Information

This Announcement contains inside information for the purposes of the UK version of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").

Savannah - Enabling Europe's energy transition.

**ENDS**

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For further information please visit www.savannahresources .com or contact:

Savannah Resources PLC Emanuel Proença, CEO	Tel: +44 20 7117 2489
SP Angel Corporate Finance LLP (Nominated Advisor & Joint Broker) David Hignell/ Charlie Bouverat (Corporate Finance) Grant Barker/Abigail Wayne (Sales & Broking)	Tel: +44 20 3470 0470
SCP Resource Finance (Joint Broker)	Tel: +44 204 548 1765
Filipe Martins/Chris Tonkin
Camarco (Financial PR) Gordon Poole/ Emily Hall / Nuthara Bandara	Tel: +44 20 3757 4980
LPM (Portugal Media Relations) Herminio Santos/ Jorge Coelho / Margarida Pinheiro	Tel: +351 218 508 110

About Savannah

Savannah Resources is a mineral resource development company and the sole owner of the Barroso Lithium Project in northern Portugal, the largest battery grade spodumene lithium resource outlined to date in Europe.

Through the Barroso Lithium Project (the 'Project'), Savannah will help Portugal to play an important role in providing a long-term, locally sourced, lithium raw material supply for Europe's rapidly developing lithium battery value chain. After the Environmental Licence was granted in May 2023 and the Scoping Study confirmed the economic potential of the Project in June 2023, production is now targeted and on track to begin in 2026. At that stage, Savannah will start producing enough lithium (contained in c.190,000tpa of spodumene concentrate) for approximately half a million vehicle battery packs per year, equal to a significant portion of the European Commission's Critical Raw Material Act goal of a minimum 10% of European endogenous lithium production set for 2030. Savannah is focused on the responsible development and operation of the Barroso Lithium Project so that its impact on the environment is minimised and the socio-economic benefits that it can bring to all its stakeholders are maximised.

In June 2024, Savannah entered a strategic partnership with AMG Critical Materials N.V., the global critical materials business and established lithium market participant. AMG has invested GBP 16m in Savannah in exchange for a 15.8% stake in the Company and a 5 year, 45ktpa spodumene offtake agreement. This investment alongside existing cash provides Savannah with the finance required to take the Project to a Final Investment Decision point. AMG can increase its offtake to 90ktpa for 10 years if it provides an acceptable full project funding solution for the Project's construction.

The Company is listed and regulated on the London Stock Exchange's Alternative Investment Market (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".

APPENDIX 1 - Drill hole locations of Phase 1 RC and Diamond Resource Holes.

Hole_ID	Prospect	Hole Type	Total Depth (m)	East (mE)	North (mN)	Elevation (mASL)	Dip	Azimuth
23NOARC026	NOA	RC	111	599104	4609510	677	-60	198
23NOARC027	NOA	RC	40	599015	4609572	689	-60	198
23NOARC028	NOA	RC	40	599047	4609565	692	-60	198
23NOARC029	NOA	RC	42	599025	4609498	693	-60	200
23NOARC030	NOA	RC	35	598992	4609575	686	-60	200
23NOARC031	NOA	RC	30	598988	4609559	687	-60	200
23NOARC032	NOA	RC	123	599086	4609555	691	-60	200
23NOARC033	NOA	RC	20	598985	4609540	688	-60	200
23NOARC034	NOA	RC	40	598894	4609584	687	-60	200
23NOARC035	NOA	RC	43	598900	4609610	683	-60	200
23NOARC036	NOA	RC	35	598916	4609606	679	-60	200
23NOARC037	NOA	RC	67	598916	4609589	678	-60	200
23NOARC038	NOA	RC	35	599205	4609406	691	-60	200
23NOARC039	NOA	RC	61	599238	4609389	687	-60	200
23NOARC040	NOA	RC	45	599174	4609436	687	-60	200
23NOARC041	NOA	RC	60	599135	4609470	681	-60	200
23NOARC042	NOA	RC	85	599190	4609491	673	-60	200
23NOARC043	NOA	RC	130	599074	4609531	689	-60	200
23NOARC044	NOA	RC	35	599100	4609457	674	-60	200
23NOARC045	NOA	RC	35	599112	4609440	674	-60	200
23NOARC046	NOA	RC	35	598943	4609589	678	-60	200
23NOARC047	NOA	RC	25	598938	4609573	679	-60	200
23NOARC048	NOA	RC	105	599157	4609520	666	-60	200
24NOADD006	NOA	DD	80	599126	4609500	674	-70	0
24NOADD007	NOA	DD	70.11	599053	4609476	682	-50	265
24NOADD008	NOA	DD	74.25	599118	4609438	674	-60	200
24NOADD009	NOA	DD	100.25	599208	4609467	680	-50	135
24NOADD010	NOA	DD	60.15	599247	4609409	689	-60	202
24NOADD011	NOA	DD	65.55	599159	4609483	677	-60	203
24PNRRC020	Pinheiro	RC	110	601380	4606960	542	-60	270
24PNRRC021	Pinheiro	RC	113	601402	4606933	543	-60	220
24PNRRC022	Pinheiro	RC	100	601401	4606936	543	-60	265
24PNRRC023	Pinheiro	RC	138	601408	4606892	547	-60	190
24PNRRC024	Pinheiro	RC	144	601406	4606893	547	-65	220
24PNRRC025	Pinheiro	RC	100	601402	4606932	543	-55	290
24PNRDD003	Pinheiro	DD	101.15	601354	4606886	537	-60	90
24PNRDD004	Pinheiro	DD	80	601355	4606895	538	-60	60
24PNRDD005	Pinheiro	DD	70	601362	4606909	539	-60	248
24PNRDD006	Pinheiro	DD	60.1	601358	4606956	543	-50	20
24PNRDD007	Pinheiro	DD	50	601350	4606934	541	-60	70
24PNRDD008	Pinheiro	DD	112.7	601349	4606935	541	-90	0
24PNRWB001	Pinheiro	PERC	130	601355	4606893	538	-90	0
24PNRWB002	Pinheiro	PERC	130	601360	4606908	539	-90	0
23RESRC038	Reservatório	RC	207	599510	4609249	655	-90	0
23RESRC042	Reservatório	RC	12	599650	4609094	594	-60	150
23RESRC043	Reservatório	RC	9	599687	4609109	591	-60	150
23RESRC044	Reservatório	RC	18	599618	4609011	599	-60	150
23RESRC045	Reservatório	RC	130	599679	4609231	619	-90	0
23RESDD009	Reservatório	DD	90.5	599764	4609176	611	-60	150
23RESRC039	Reservatório	RCDD	193.9	599511	4609246	655	-70	150
23RESRC040	Reservatório	RCDD	192.6	599557	4609245	649	-90	0
23RESRC041	Reservatório	RCDD	175	599559	4609241	649	-70	150
24RESDD010	Reservatório	DD	40	599688	4609110	590	-60	150
24RESDD011	Reservatório	DD	50	599617	4609016	599	-60	150
24RESDD012	Reservatório	DD	50	599661	4609070	590	-60	150
24RESDD013	Reservatório	DD	200.2	599609	4609239	636	-70	147
24RESDD014	Reservatório	DD	140.05	599543	4609235	650	-50	328
23RESWB001	Reservatório	PERC	170	599376	4609275	664	-90	0
23RESWB002	Reservatório	PERC	170	599334	4609301	663	-90	0
23RESWB003	Reservatório	PERC	169	599339	4609284	667	-90	0
24GRARC132	Grandão	RC	90	601743	4608177	521	-90	0
24GRARC133	Grandão	RC	39	601919	4607864	563	-90	0
24GRADD047	Grandão	DD	79.8	601827	4607837	547	-75	80
23GRAWB003	Grandão	PERC	240	601864	4608300	545	-90	0
23GRAWB004	Grandão	PERC	180	601861	4608290	546	-90	0
23GRAWB005	Grandão	PERC	120	601742	4608177	521	-90	0
23GRAWB006	Grandão	PERC	202	601724	4608186	518	-90	0

APPENDIX 2 -Summary of Significant Intercepts from the diamond drilling using a 0.5% Li2O Cutoff.

Hole_ID	Prospect	From (m)	To (m)	Interval (m)	Grade Li2O%
24PNRDD003	Pinheiro	33.5	70	36.5	1.24
24PNRDD004	Pinheiro	41.02	57.5	16.48	1.22
24PNRDD007	Pinheiro	9.32	23.4	14.08	1.04
24PNRDD008	Pinheiro	18.57	35	16.43	1.57
and		61	72	11	0.79
24NOADD007	NOA	20.63	26.89	6.26	0.98
24NOADD011	NOA	49.14	59	9.86	1.3
24NOADD010	NOA	0.35	5.8	5.45	1.25
and		31	52	21	1.26
24RESDD013	Reservatório	143	150	7	1.16
and		172	177.7	5.7	0.81
and		180.5	187	6.5	1.22

APPENDIX 3 - JORC 2012 Table 1 -DFS Infill Drilling

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, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. ·    Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. ·    Aspects of the determination of mineralisation that 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 was used to obtain 1 m samples from which 3 kg was 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 sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	·      The majority of previous holes were reverse circulation, sampled at 1m intervals. RC samples were collected in large plastic bags attached to the cyclone. On completion of the 1m run the large sample was passed through a 3-stage riffle splitter to collect a 2.5-4kg sub sample, to be used for assay. ·      Diamond holes were completed for metallurgical sampling, geotechnical analysis and resource estimation. Core was PQ/HQ size, sampled at 1m intervals in the pegmatite, with boundaries sampled to geological boundaries. Half core samples were collected for analysis. ·      Drilling was carried out to infill previous drilling to achieve a nominal 40m by 40m spacing with selected infill to 40m by 20m spacings, or as twins of previous RC drilling to get known samples for metallurgical testing. Geotechnical drilling was designed purely to intersect planned pit walls and pegmatite intersections were incidental, but followed all standard logging and sampling in line with all the drilling. ·      Collar surveys are carried using differential DGPS with an accuracy to within 0.2m.   ·      A down hole survey for each hole was completed using gyro equipment. ·      The lithium mineralisation is predominantly in the form of Spodumene-bearing pegmatites, the pegmatites are unzoned and vary in thickness from 5m-109m.
Drilling techniques	·    Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) 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).	•      RC drilling used a 120mm diameter face sampling hammer. ·      Core drilling was carried out using an PQ/HQ double tube core barrels. ·      Percussion drilling was carried out using a down hole hammer with air being passed down through the centre of the string and the sample travelling up the outside of the drill string.
Drill sample recovery	·    Method of recording and assessing core and chip sample recoveries and results assessed. ·    Measures taken to maximise sample recovery and ensure representative nature of the samples. ·    Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	·      RC drilling sample weights were monitored to ensure 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 laboratories were in the range of 4-6kg. ·      Core recovery was measured and was found to be generally excellent. ·      No obvious relationships between sample recovery and grade.
Logging	·    Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. ·    Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. ·    The total length and percentage of the relevant intersections logged.	·      RC holes were logged in the field at the time of sampling. Core was logged in detail for a variety of physical characteristics in a logging yard away from the drilling. ·      Each 1m sample interval was carefully homogenised and assessed for lithology, colour, grainsize, structure and mineralisation. Core was sampled to geological boundaries and at 1m intervals therein. ·      A representative chip sample produced from RC drilling was washed and taken for each 1m sample and stored in a chip tray which was photographed. ·      Percussion holes were logged for every metre drilled with the spoil collected for each metre by shovel and placed in a sample bag, a representative sub sample was taken and logged for lithology, colour, grainsize and mineralisation. ·      Core was photographed.
Sub-sampling techniques and sample preparation	·    If core, whether cut or sawn and whether quarter, half or all core taken. ·    If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. ·    For all sample types, the nature, quality and appropriateness of the sample preparation technique. ·    Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. ·    Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. ·    Whether sample sizes are appropriate to the grain size of the material being sampled.	·      1m RC samples were split by the riffle splitter at the drill rig and sampled dry. ·      Core was cut in half using a diamond saw with 1m half core samples submitted for analysis or for metallurgical samples one of the halves was cut again for a quarter core and sent for analysis. ·      The sampling was conducted using industry standard techniques and were considered appropriate. ·      Field duplicates were used to test repeatability of the sub-sampling and were found to be satisfactory. ·      Every effort was made to ensure that the samples were representative and not biased in any way.
Quality of assay data and laboratory tests	·    The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. ·    For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. ·    Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	·      Samples were received, sorted, labelled, and dried. ·      Samples were crushed to 70% less than 2mm, riffle split off 250g, pulverise split to better than 85% passing 75 microns and 5g was split of for assaying. ·      The samples were analysed using ALS Laboratories ME-MS89L Super Trace method which combines a sodium peroxide fusion with ICP-MS instrumentation utilising collision/reaction cell technologies to provide the lowest detection limits available. ·      A prepared sample (0.2g) is added to sodium peroxide flux, mixed well and then fused in at 670°C. 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. ·      Routine QA/QC controls for the method ME-MS89L include blanks, certified reference standards of Lithium and duplicate samples. Samples are assayed within runs or batches up to 40 samples. At the fusion stage that quality control samples are included together with the samples, so all samples follow the same procedure until the end. Fused and diluted samples are prepared for ICP-MS analysis. ICP instrument is calibrated through appropriate certified standards solutions and interference corrections to achieve strict calibration fitting parameters. Each 40-sample run is assayed with two blanks, two certified standards and one duplicate sample and results are evaluated accordingly. ·      A QA/QC review of all information indicated that all assays were satisfactory.
Verification of sampling and assaying	·    The verification of significant intersections by either independent or alternative company personnel. ·    The use of twinned holes. ·    Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. ·    Discuss any adjustment to assay data.	·      All information was internally audited by company personnel. ·      During this programme no holes were twinned. ·      Savannah's experienced project geologists supervised all processes. ·      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 company's cloud drive. ·      Results were reported as Li (ppm) and were converted to a percentage by dividing by 10,000 and then to Li2O% by multiplying by 2.153.
Location of data points	·    Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. ·    Specification of the grid system used. ·    Quality and adequacy of topographic control.	·      The coordinate of each drill hole was taken at the time of collecting using a handheld GPS with an accuracy of 5m. All collars were subsequently surveyed using DGPS with an accuracy of 0.2m. ·      The grid system used is WSG84 Zone29N. ·      An accurate, aerial topographic survey was obtained with accuracy of +/- 0.5m.
Data spacing and distribution	·    Data spacing for reporting of Exploration Results. ·    Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. ·    Whether sample compositing has been applied.	·      Drilling was carried out on an infill basis to attain on a nominal 40m by 40m and based on geological targets with selected infill to 40m by 20m. ·      Drill data is considered of sufficient spacing to define Measured and Indicated Mineral Resource in accordance with requirements for a DFS ·      Compositing to 1m will be applied prior to resource estimation.
Orientation of data in relation to geological structure	·    Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. ·    If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	·      Drilling was generally carried out using angled holes on the Western Pegmatite at Pinheiro with various azimuths due to limited access and the holes were generally dipping at -60 ° however limited access due to steep topography in places meant that the majority of the RC holes were drilled in the same direction as the dip of the pegmatite and so widths are not truly representative. The width of the pegmatite is calculated to be between 25m and 40m based on previous drilling orthogonal to the pegmatite. ·      No orientation-based sampling bias has been identified in the data. ·      At Reservatório and NOA, the holes were drilled as close to perpendicular to strike as possible. ·      All Geotech holes were drilled in various orientations to intersect planned pit walls.
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 techniques and data.	·      Internal company auditing based on previous programmes is carried out and an external review will be carried out by the resource consultant to assure 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 land tenure status	·    Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. ·   The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.	·      All work was completed inside the Mina do Barroso project C-100. ·      Savannah has received written confirmation from the 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 has been approved an expansion up to 250m of C100 mining concession in specific areas where a resource has been defined and the requirement for the expansion can be justified.
Exploration done by other parties	·    Acknowledgment and appraisal of exploration by other parties.	·      Limited exploration work has been carried out by previous operators. ·      No historic information has been included in the Mineral Resource estimates.
Geology	·    Deposit type, geological setting and style of mineralisation.	·    The lithium mineralisation is predominantly in the 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 5m-109m.
Drill hole information	·   A summary of all information material to the under-standing of the exploration results including a tabulation of the following information for all Material drill holes: ·   easting and northing of the drill hole collar ·   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.	·    A table containing all drill holes drilled and a list of significant assays from the results received is included with the release. ·    No material data has been excluded from the release.
Data aggregation methods	·   In reporting Exploration Results, weighting averaging 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.	·    Length weighted average grades have been reported. ·    No high-grade cuts have been applied to reported grades. ·    Metal equivalent values are not being reported; however, Li is reported as ppm and converted to the oxide Li2O for resource purposes. The conversion factor used is to divide the Li value by 10,000 and multiplying by 2.153 to represent the value as a percentage.
Relationship between mineralisation widths and intercept lengths	·   These relationships are particularly important in the reporting of Exploration Results. ·    If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. ·   If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').	·    The majority of holes have been drilled at angles to intersect the mineralisation in the same direction as the dip of the pegmatite, due to access problems. ·    The geometry of the Western Pegmatite at Pinheiro is moderate dipping to the northwest and most of the holes had to be drilled at a close angle to the mineralisation in that part of the deposit.
Diagrams	·   Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	·      A relevant plan showing the drilling is included within this release.
Balanced Reporting	·    Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine 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.	·      All relevant results available have been previously reported.
Other substantive exploration data	·   Other exploration data, if meaningful and material, should be reported including (but not limited to): 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.	·      Geological mapping and rock chip sampling has been conducted over the project area.
Further work	·    The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large- scale step-out drilling). ·    Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	·    The present drill programme has been designed to infill previous drilling to attain a measured or indicated class for an upcoming resource estimation. Further work is being planned as part of a second phase of resource infill drilling. ·    Economic evaluation of the defined Mineral Resources, will be completed after the second phase of drilling.

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