Savannah: Update on Key Project Workstreams Main points:
Land acquisition:
• With the recent purchase of three additional plots, Savannah has now reached the milestone of 100 plots purchased for the Project from local landowners.
• In the ongoing civil action brought by the Management Commission of the Covas do Barroso Baldios (the 'Baldios Commission') against certain private landowners in respect of land packages which they sold to Savannah, the court dismissed the request made by the Baldios Commission for Savannah to suspend its work on the land packages concerned while the case continues.
Definitive Feasibility Study (‘DFS’):
• Drilling: As of 4 April, Savannah has completed a total of 5,508m of reverse circulation and diamond drilling across 60 holes in the first of the two phases planned in the current programme. Processing and assaying of the diamond core continues and further results will be released in due course, once received.
• Resource updates: The Company expects to publish the first of its new JORC Resource estimates, on the NOA orebody, later this month.
• Process Plant: Work on the preliminary layout of the plant is nearing completion, with work continuing on the filter pad and grinding/Dense Media Separation areas. Detailed layout development has advanced in most areas.
• Topography: A LiDAR (light detection and ranging) survey has been initiated to produce a detailed 3D terrain model to aid in final infrastructure planning.
Environmental Licencing:
• Environmental: Further baseline surveying for the RECAPE phase of the licencing process has been completed. This includes permeability/infiltration tests on the Lameiro areas (pastures), noise and water levels and quality monitoring.
• Biodiversity: The annual monitoring report on the Iberian Wolf population was completed. This again concluded that no wolf packs were living on the Mining Lease area.
• Hydrology: Pump and falling head testing together with further water sampling is being completed at the new water bores to aid in the completion of an updated hydrology model.
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