13th Dec 2018 12:07
LONDON (Alliance News) - Savannah Resources PLC on Thursday said test work at its Portuguese Mina do Barroso lithium project has produced saleable quartz and feldspar products.
The ongoing metallurgical test work at Mina do Barroso identified these high-quality co-products, which are used to make ceramics.
Test minerals are complete and provide indicative pricing for feldspar of between USD65 and USD100 per ton and between USD60 and USD100 per ton for quartz.
All products have low levels of potential impurities, and this testing exceeds the more conservative scoping study, which valued feldspar at USD39 per ton and quartz and USD33 per ton.
"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," said Savannah Resources Chief Executive David Archer.
"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," Archer added.
Shares in Savannah Resources were up 1.8% at 5.60 pence on Thursday.
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