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Savannah investigates potential lithium mine at Portuguese asset
Development company Savannah Resources has appointed engineering group Hatch to conduct a scoping study on the potential development of a lithium mine on its Mina do Barroso asset in Portugal, with results expected to be available towards the end of its second trading half.
Savannah said the scoping study would investigate the potential for a mining and concentration plant based on the Grandao, Reservatorio and NOA spodumene deposits, covering project setting, geology and resource description, mining, processing, infrastructure, market review, cost estimates, human resources, environmental, social aspects, project risk review and project development schedule.
Chief executive, David Archer said, "We are delighted to have partnered with Hatch. They have a wealth of experience in much of the lithium value chain and have specific and very relevant knowledge of spodumene deposit developments, like that proposed for Mina do Barroso. We expect the Scoping Study to be the precursor to the launch of a Definitive Feasibility Study later this year."
As of 1120 GMT, shares had slipped back 3.52% to 6.18p.