# 64% Resource Increase for the Grandao Deposit Pushes the Total Resource Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416 Original source: https://www.rns-pdf.londonstockexchange.com/rns/1974A_1-2018-9-8.pdf Publisher: research Original announcement: Unknown date Analysis by Minestarters Atlas Atlas analysis published: 2026-11-11T14:36:21.951Z Atlas analysis updated: 2026-11-11T14:36:21.951Z - Company: Unavailable - Ticker: SAV - Exchange: LSE - Region: northern Portugal - Primary commodity: Lithium - Secondary commodities: Iron ore - Document categories: Resource update, Drill results - Extracted: 2026-11-11 14:36:21 UTC Narrative sentiment: 0.68 · Bullish ## Minestarters Atlas summary Savannah Resources reported a major JORC 2012-compliant lithium resource increase at the Mina do Barroso project in northern Portugal, including a 64% increase at the Grandao deposit to 16.4Mt at 1.04% Li2O. The overall project resource now stands at 20.1Mt at 1.04% Li2O, with approximately 90% of the Stage 1 Grandao pit mineralisation now in Measured and Indicated categories. The release also notes an exploration target of 9-15Mt, but says the target is conceptual and further work is needed. Reasoning: A substantial lithium resource upgrade is the main event, with the Grandao deposit and overall project resource both increasing and the resource base moving toward higher-confidence categories. The release is materially positive but partly tempered by the fact that much of the drilling and intersections underpinning the estimate were previously reported. - Positive factor: ~64% increase in the total Mineral Resource Estimate at Grandao Deposit to 16.4Mt - Positive factor: JORC 2012-compliant Measured, Indicated and Inferred Mineral Resource Estimate - Positive factor: ~90% of the mineralisation within the Stage 1 Grandao pit now converted to Measured and Indicated Resource Estimates - Positive factor: cut-off grade of 0.5% Li2O disclosed - Positive factor: QA/QC protocols were in place for the drilling programmes - Negative factor: Exploration Target is conceptual and insufficient exploration work has been completed to estimate a mineral resource - Negative factor: No new exploration results have been reported in this release; drill intersections used in the resource have been previously reported Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 29 ## Classification and evidence **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The Mineral Resource Estimate is stated to be in accordance with the JORC Code, 2012 Edition. Evidence · text > in accordance with the JORC Code, 2012 Edition **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: A named Competent Person is provided for both exploration results and mineral resources. Evidence · text > Mr Paul Payne, a Competent Person **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource table states a 0.5% Li2O cut-off. Evidence · text > 0.5% Li2O Cut-off **QA/QC Disclosed** Polarity: positive Definition: Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed. Why it applies: The release describes blanks, standards and field duplicates for the drilling programmes. Evidence · text > QAQC protocols were in place for the drilling programmes and included the used of blanks, standards and field duplicates. **Nearology Play** Polarity: neutral Definition: The disclosed value premise relies on proximity to another known deposit rather than the issuer's own results. Mere location or along-strike wording in a release that reports its own drilling does not establish this premise. Why it applies: The project is framed as having further upside from other high priority exploration prospects within the project area. Evidence · text > further upside remaining from the many other high priority exploration prospects within the project area ## Extracted facts Stored fact records: 29. Some facts used in scoring do not have a stored record. ## Drill Results (1) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-drill-facts-28) Mina do Barroso · lithium Needs review: drill\_no\_hole\_id #### Identity - Project: Mina do Barroso - Commodity: lithium - Region: northern portugal - Reported Region: northern portugal #### Geometry - Grade: 1 - Grade Unit: % #### Classification - Deposit Type: other - Program: exploration - Sample Type: drill - Mining Method: open\_pit #### Location - Location: Grandao and Reservatorio - Loc. Source: document #### QA/QC - Laboratory: Nagrom Metallurgical - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No Reasoning: The exploration target is stated in the release, but it is conceptual and not a completed drill intercept. - Positive factor: Exploration Target disclosed for Grandao and Reservatorio - Positive factor: further upside remains from other prospects - Negative factor: Exploration Target is conceptual and not a mineral resource - Negative factor: insufficient exploration work to estimate a mineral resource #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Reported assays have a certified laboratory, actual QA/QC methods, or named QP/CP responsibility. Generic CP boilerplate, old-release references, plans and unrelated work are insufficient. Approval of a correction does not verify expressly unverified historical assays; assay accuracy is not guaranteed. Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: Reported composited assay intervals omit the cut-off grade used for those intervals. Apply only to actual reported assay intervals in the reviewed scope, not drilling plans or missing extraction fields alone. Why it applies: no cutoff\_grade was stated ## Resource Estimates (28) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-0) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:65ddf7ed0930911a8db8 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 5500000 - Grade: 1.08 - Grade Unit: % - Contained Metal: 59600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: Measured lithium resource at Grandao adds high-confidence tonnes and grade to the project resource base. - Positive factor: Measured category disclosed - Positive factor: large tonnage base at Grandao - Positive factor: cut-off grade disclosed - Positive factor: JORC-compliant estimate with named Competent Person - Negative factor: No prior comparison values stated for this row #### Tags used in scoring **Measured Resource** Polarity: positive Definition: A source-reported Measured Mineral Resource with sufficiently established geological continuity and quality. After the required study and Modifying Factors it may convert to a Proved/Proven or Probable Reserve; the resource classification alone is not a reserve or a demonstration of economic viability. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-1) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:65ddf7ed0930911a8db8 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 5500000 - Grade: 1.3 - Grade Unit: % - Contained Metal: 59600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is disclosed for the measured Grandao resource row and should be retained as a separate commodity fact. - Positive factor: Iron grade reported alongside lithium resource table - Positive factor: resource estimate includes multi-commodity disclosure - Negative factor: Iron is a secondary grade column rather than the economic focus of the release #### Tags used in scoring **Measured Resource** Polarity: positive Definition: A source-reported Measured Mineral Resource with sufficiently established geological continuity and quality. After the required study and Modifying Factors it may convert to a Proved/Proven or Probable Reserve; the resource classification alone is not a reserve or a demonstration of economic viability. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-2) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:1a17a848ca1766d733e7 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 4900000 - Grade: 0.93 - Grade Unit: % - Contained Metal: 45600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: Indicated resource at Grandao strengthens the mine inventory and supports conversion toward reserve studies. - Positive factor: Indicated category disclosed - Positive factor: supports higher-confidence inventory for Grandao - Positive factor: cut-off grade disclosed - Negative factor: No prior comparison values stated for this row #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: A source-reported Indicated Mineral Resource with sufficient geological confidence to apply Modifying Factors and evaluate economic viability. It may support conversion to a Probable Reserve after the required study; it is not itself a reserve. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-3) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:1a17a848ca1766d733e7 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 4900000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 45600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is disclosed for the indicated Grandao resource row and is preserved as a separate fact. - Positive factor: Iron grade reported alongside lithium resource table - Negative factor: Secondary grade column #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: A source-reported Indicated Mineral Resource with sufficient geological confidence to apply Modifying Factors and evaluate economic viability. It may support conversion to a Probable Reserve after the required study; it is not itself a reserve. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-4) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:1ee8c594ec392ba86f74 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 6100000 - Grade: 1.1 - Grade Unit: % - Contained Metal: 66200 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: The inferred Grandao lithium resource adds substantial tonnes, though with lower confidence than the higher categories. - Positive factor: Inferred resource disclosed for Grandao - Positive factor: supports the enlarged project resource base - Negative factor: Lower-confidence category than measured or indicated #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-5) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:1ee8c594ec392ba86f74 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 6100000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 66200 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is included in the inferred Grandao resource row and extracted separately. - Positive factor: Iron grade reported in inferred row - Negative factor: Secondary commodity #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-6) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:911bee531483b02eb131 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 5500000 - Grade: 1.08 - Grade Unit: % - Contained Metal: 59600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: The all-deposits measured lithium resource shows the project-wide high-confidence portion of the estimate. - Positive factor: Project-wide measured resource disclosed - Positive factor: part of the total updated Mineral Resource Estimate - Negative factor: Aggregated all-deposits figure rather than deposit-specific detail #### Tags used in scoring **Measured Resource** Polarity: positive Definition: A source-reported Measured Mineral Resource with sufficiently established geological continuity and quality. After the required study and Modifying Factors it may convert to a Proved/Proven or Probable Reserve; the resource classification alone is not a reserve or a demonstration of economic viability. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-7) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:911bee531483b02eb131 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 5500000 - Grade: 1.3 - Grade Unit: % - Contained Metal: 59600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is reported for the overall measured resource row and retained separately. - Positive factor: Project-wide iron grade disclosed - Negative factor: Secondary commodity #### Tags used in scoring **Measured Resource** Polarity: positive Definition: A source-reported Measured Mineral Resource with sufficiently established geological continuity and quality. After the required study and Modifying Factors it may convert to a Proved/Proven or Probable Reserve; the resource classification alone is not a reserve or a demonstration of economic viability. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-8) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:e6313b986c8a64e99f44 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 4900000 - Grade: 0.93 - Grade Unit: % - Contained Metal: 45600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: The all-deposits indicated lithium resource contributes materially to the project total and higher-confidence inventory. - Positive factor: Project-wide indicated resource disclosed - Positive factor: part of the updated total Mineral Resource Estimate - Negative factor: Aggregated category row #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: A source-reported Indicated Mineral Resource with sufficient geological confidence to apply Modifying Factors and evaluate economic viability. It may support conversion to a Probable Reserve after the required study; it is not itself a reserve. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-9) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:e6313b986c8a64e99f44 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 4900000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 45600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is disclosed for the all-deposits indicated row and preserved as a separate fact. - Positive factor: Project-wide iron grade disclosed - Negative factor: Secondary commodity #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: A source-reported Indicated Mineral Resource with sufficient geological confidence to apply Modifying Factors and evaluate economic viability. It may support conversion to a Probable Reserve after the required study; it is not itself a reserve. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-10) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:bde12289a16eb570e028 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 9700000 - Grade: 1.1 - Grade Unit: % - Contained Metal: 103900 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: The inferred lithium component remains large, but at lower confidence than measured or indicated material. - Positive factor: Project-wide inferred resource disclosed - Positive factor: supports the total project tonnage growth - Negative factor: Lower-confidence category #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-11) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:bde12289a16eb570e028 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 9700000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 103900 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is included in the project-wide inferred row and extracted separately. - Positive factor: Project-wide iron grade disclosed - Negative factor: Secondary commodity #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-12) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:65ddf7ed0930911a8db8 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 5500000 - Grade: 1.08 - Grade Unit: % - Contained Metal: 59600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: This is the measured lithium row for Grandao in the updated estimate; it is a substantive resource fact rather than a drill intercept. - Positive factor: Grandao deposit resource expanded materially - Positive factor: high-confidence measured category - Negative factor: Prior Grandao figures are not stated in the table row itself #### Tags used in scoring **Measured Resource** Polarity: positive Definition: A source-reported Measured Mineral Resource with sufficiently established geological continuity and quality. After the required study and Modifying Factors it may convert to a Proved/Proven or Probable Reserve; the resource classification alone is not a reserve or a demonstration of economic viability. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-13) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:65ddf7ed0930911a8db8 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 5500000 - Grade: 1.3 - Grade Unit: % - Contained Metal: 59600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: The iron grade in the Grandao measured row is retained as a separate resource fact. - Positive factor: Iron grade reported in Grandao measured row - Negative factor: Secondary commodity #### Tags used in scoring **Measured Resource** Polarity: positive Definition: A source-reported Measured Mineral Resource with sufficiently established geological continuity and quality. After the required study and Modifying Factors it may convert to a Proved/Proven or Probable Reserve; the resource classification alone is not a reserve or a demonstration of economic viability. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-14) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:1a17a848ca1766d733e7 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 4900000 - Grade: 0.93 - Grade Unit: % - Contained Metal: 45600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: This is a key Grandao indicated resource fact within the updated estimate. - Positive factor: Grandao indicated resource adds to the higher-confidence inventory - Negative factor: No direct prior-value comparison in the row #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: A source-reported Indicated Mineral Resource with sufficient geological confidence to apply Modifying Factors and evaluate economic viability. It may support conversion to a Probable Reserve after the required study; it is not itself a reserve. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-15) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:1a17a848ca1766d733e7 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 4900000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 45600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is present in the Grandao indicated row and is extracted separately. - Positive factor: Iron grade disclosed in Grandao indicated row - Negative factor: Secondary commodity #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: A source-reported Indicated Mineral Resource with sufficient geological confidence to apply Modifying Factors and evaluate economic viability. It may support conversion to a Probable Reserve after the required study; it is not itself a reserve. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-16) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:1ee8c594ec392ba86f74 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 6100000 - Grade: 1.1 - Grade Unit: % - Contained Metal: 66200 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: The inferred Grandao lithium row captures the lower-confidence portion of the updated deposit resource. - Positive factor: Grandao inferred resource remains substantial - Positive factor: part of the deposit total of 16.4Mt - Negative factor: Lower-confidence category #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-17) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:1ee8c594ec392ba86f74 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 6100000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 66200 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is retained separately for the Grandao inferred row. - Positive factor: Iron grade disclosed in Grandao inferred row - Negative factor: Secondary commodity #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-18) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:0a81632186f6346d7c14 - Deposit or zone: Reservatorio - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 3200000 - Grade: 1 - Grade Unit: % - Contained Metal: 32000 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: Reservatorio lithium resource is explicitly reported and contributes to the project total. - Positive factor: Reservatorio resource disclosed in the updated project summary - Positive factor: supports the broader project total - Negative factor: Only inferred category shown in this table excerpt #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-19) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:0a81632186f6346d7c14 - Deposit or zone: Reservatorio - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 3200000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 32000 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: Iron grade for the Reservatorio inferred row is extracted as a separate fact. - Positive factor: Iron grade disclosed in Reservatorio inferred row - Negative factor: Secondary commodity #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-20) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:ac01fa7e86fdaf8e2e32 - Deposit or zone: NOA - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 1.2 - Grade Unit: % - Contained Metal: 5600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: NOA adds a smaller inferred lithium resource to the project inventory. - Positive factor: NOA resource disclosed in the project table - Negative factor: Smaller tonnage than Grandao and project total #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-21) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:ac01fa7e86fdaf8e2e32 - Deposit or zone: NOA - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 500000 - Grade: 1.3 - Grade Unit: % - Contained Metal: 5600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: Iron grade is retained for the NOA inferred row as a separate fact. - Positive factor: Iron grade disclosed in NOA row - Negative factor: Secondary commodity #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-22) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:911bee531483b02eb131 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 5500000 - Grade: 1.08 - Grade Unit: % - Contained Metal: 59600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 - Prior Tonnes: 14000000 - Prior Grade: 1.1 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: high #### Review - Needs Review: No - Historical: No Reasoning: This all-deposits measured lithium row is part of the updated project resource, which the release says is up about 44% versus the prior 14Mt estimate. - Positive factor: Overall project resource increased to 20.1Mt - Positive factor: JORC-compliant estimate and higher-confidence categories expanding - Negative factor: Prior project estimate is only referenced, not fully restated in the table row #### Tags used in scoring **Measured Resource** Polarity: positive Definition: A source-reported Measured Mineral Resource with sufficiently established geological continuity and quality. After the required study and Modifying Factors it may convert to a Proved/Proven or Probable Reserve; the resource classification alone is not a reserve or a demonstration of economic viability. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Tonnage Decline** Polarity: negative Definition: Resource tonnage decreased against a like-for-like prior estimate under TONNAGE\_CHANGE\_BANDS. Do not infer the cause, such as depletion, pit optimisation or a revised geological model, unless the source states it. Why it applies: 5500000 against 14000000 previously **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-23) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:911bee531483b02eb131 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 5500000 - Grade: 1.3 - Grade Unit: % - Contained Metal: 59600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: Iron grade in the all-deposits measured row is retained separately. - Positive factor: Iron grade disclosed in overall measured row - Negative factor: Secondary commodity #### Tags used in scoring **Measured Resource** Polarity: positive Definition: A source-reported Measured Mineral Resource with sufficiently established geological continuity and quality. After the required study and Modifying Factors it may convert to a Proved/Proven or Probable Reserve; the resource classification alone is not a reserve or a demonstration of economic viability. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-24) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:e6313b986c8a64e99f44 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 4900000 - Grade: 0.93 - Grade Unit: % - Contained Metal: 45600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: This is the project-wide indicated lithium row from the updated resource estimate. - Positive factor: Project-wide indicated resource contributes to total estimate - Negative factor: Aggregate row #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: A source-reported Indicated Mineral Resource with sufficient geological confidence to apply Modifying Factors and evaluate economic viability. It may support conversion to a Probable Reserve after the required study; it is not itself a reserve. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-25) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:e6313b986c8a64e99f44 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 4900000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 45600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: Iron grade in the all-deposits indicated row is extracted separately. - Positive factor: Project-wide iron grade disclosed - Negative factor: Secondary commodity #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: A source-reported Indicated Mineral Resource with sufficient geological confidence to apply Modifying Factors and evaluate economic viability. It may support conversion to a Probable Reserve after the required study; it is not itself a reserve. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-26) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:bde12289a16eb570e028 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 9700000 - Grade: 1.1 - Grade Unit: % - Contained Metal: 103900 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: The overall inferred lithium row captures most of the project's lower-confidence tonnes. - Positive factor: Project-wide inferred resource disclosed in the total estimate - Negative factor: Lower-confidence category #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/64-resource-increase-for-the-grandao-deposit-pushes-the-total-resource--be8885bb-2089-41e8-b436-cdb3a7468416#fact-resource-facts-27) Mina do Barroso Lithium Project · iron\_ore #### Identity - Project: Mina do Barroso Lithium Project - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Effective date: 2018-09-10T00:00:00.000Z - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Mr Paul Payne - Resource group id: resource:bde12289a16eb570e028 - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 9700000 - Grade: 1.4 - Grade Unit: % - Contained Metal: 103900 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2018-09-10 #### Review - Needs Review: No - Historical: No Reasoning: Iron grade in the all-deposits inferred row is extracted separately. - Positive factor: Project-wide iron grade disclosed - Negative factor: Secondary commodity #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: A source-reported Inferred Mineral Resource with lower geological confidence than Indicated or Measured. It cannot be converted directly to a reserve or establish the reserve basis of a PFS/FS; applicable early-stage assessments may include it with the required cautions. Negative polarity describes confidence limitations, not proof of a poor deposit. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc **Resource Update** Polarity: neutral Definition: The announcement publishes a new or revised estimate for an existing resource, with a source-backed change in tonnage, grade, classification, commodity or estimation basis. An older resource table reproduced as background to drilling or exploration is not a new resource update. A table heading or an effective date alone does not establish a revision in this announcement; compare the actual estimate and its scope with the prior disclosure. Why it applies: the release compares against a previous estimate **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: The estimate effective date exceeds the MRE\_STALENESS window measured at the document event date. Preserve the actual dates; age alone does not establish non-compliance or a change in the resource. Why it applies: effective date is 8.2 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.