# Maiden Lithium Resource of 3.2Mt for the Mina do Barroso Lithium Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37 Original source: https://www.rns-pdf.londonstockexchange.com/rns/5746Z_-2017-12-17.pdf Publisher: research Original announcement: Unknown date Analysis by Minestarters Atlas Atlas analysis published: 2026-11-04T11:43:39.521Z Atlas analysis updated: 2026-11-04T11:43:39.521Z - Company: Savannah Resources plc - Ticker: SAV - Exchange: LSE - Region: northern Portugal - Primary commodity: Lithium - Secondary commodities: Iron ore, Tantalum - Document categories: Resource update, Metallurgy, Drill results - Extracted: 2026-11-04 11:43:39 UTC Narrative sentiment: 0.56 · Bullish ## Minestarters Atlas summary Savannah announced a maiden Inferred Mineral Resource for the Reservatorio deposit at Mina do Barroso in northern Portugal: 3.2Mt at 1.0% Li2O, containing 32,000t of Li2O. The release also says the deposit remains open and that further drilling could expand the resource, while metallurgical test work indicates conventional processing can produce a high-grade spodumene concentrate. Reasoning: This is primarily a maiden resource announcement for Reservatorio, with supporting metallurgy and drilling context. The result is positive because it establishes a new Inferred lithium resource and describes conventional spodumene processing, but confidence is limited by the all-Inferred classification and early-stage drilling density. - Positive factor: Maiden Inferred Mineral Resource of 3.2Mt at 1.0% Li2O is a substantive new resource statement - Positive factor: JORC 2012 compliance and named Competent Persons support credibility - Positive factor: Metallurgical test work indicates conventional processing can produce a high-grade spodumene concentrate - Negative factor: Resource is entirely Inferred due to broad drill spacing - Negative factor: Cut-off grade is disclosed but no prior resource exists for direct growth comparison - Negative factor: The release notes additional drilling and future work remain ongoing, so the estimate is early-stage - Rubric flag: metallurgy historical restatement — The flotation and HLS results are previously reported; keep them flagged historical so novelty is not overstated. - Rubric flag: resource historical context — The resource is maiden and all-Inferred, so confidence is limited despite the material tonnage. Facts used in scoring: 12 ## Classification and evidence **Measured?** Polarity: neutral Story-specific tag Definition: No canonical definition is currently available. Why it applies: No measured category is reported; the estimate is explicitly Inferred only. Evidence · text > The Mineral Resource has been classified as Inferred Mineral Resource in accordance with the JORC Code, 2012 Edition. **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. No prior estimate exists, so every change band is not applicable. Why it applies: The announcement explicitly describes a maiden Mineral Resource Estimate. Evidence · text > maiden Mineral Resource Estimate of 3.2 million tonnes **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The release states the entire resource is classified as Inferred. Evidence · text > The Mineral Resource has been classified as Inferred Mineral Resource in accordance with the JORC Code, 2012 Edition. **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 is reported at a stated 0.5% Li2O cut-off. Evidence · text > above 0.5% Li2O cut-off grade **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 signs off on the mineral resource and exploration information. Evidence · text > The information in this report that relates to Mineral Resources is based on information compiled by Mr Paul Payne, a Competent Person **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The estimate is reported in accordance with the JORC Code, 2012 Edition. Evidence · text > in accordance with the JORC Code, 2012 Edition **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The release states standards, blanks and field duplicates were used. Evidence · text > QAQC protocols were in place for the drilling programs and included the used of standards, blanks and field duplicates. **Apparent Width Only** Polarity: negative Definition: Interval given as downhole width with no true width or drill orientation — apparent width may overstate true thickness. Why it applies: The release states drill results are reported as down hole intercepts and no true width is given for the reported drilling context. Evidence · text > Exploration results are reported as down hole intercepts **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The release leans on project scale and multiple pegmatites within the mining lease as part of the investment case. Evidence · text > multiple pegmatites that sit within the major lithium mineralised corridor **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("flotation"\) **Single Domain Only** Polarity: negative Definition: Testing limited to one composite or domain — representativeness not established. Why it applies: only one composite was tested ## Extracted facts Stored fact records: 12. Some facts used in scoring do not have a stored record. ## Drill Results (2) ### Fact 1 [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-drill-facts-9) Mina do Barroso · lithium #### Identity - Project: Mina do Barroso - Commodity: lithium - Region: northern portugal - Reported Region: northern portugal #### Geometry - Grade: 1.95 - Grade Unit: % #### Classification - Program: exploration - Sample Type: surface #### Location - Location: Mina do Barroso - Loc. Source: document #### QA/QC - Laboratory: Nagrom Metallurgical - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Review - Needs Review: No - Interp. Status: scored - Historical: No Reasoning: The document states a lithium head grade for a combined sample, but not a drill intercept. It is useful context rather than a standalone drilling result. - Positive factor: The release discloses a high lithium head grade in the metallurgical sample - Positive factor: QA/QC and certified laboratory signals are stated in the broader release - Negative factor: This is a composite metallurgical sample rather than a drill intercept - Negative factor: No hole ID or drill interval is provided - Negative factor: Historical testwork rather than current assay results Evidence · text > Single analysis of the combined sample confirmed a high Li2O head grade \(~1.95% Li2O\) and low Fe2O3 head grade \(~0.9%\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-drill-facts-10) Mina do Barroso · iron\_ore #### Identity - Project: Mina do Barroso - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern portugal #### Geometry - Grade: 0.9 - Grade Unit: % #### Classification - Program: exploration - Sample Type: surface #### Location - Location: Mina do Barroso - Loc. Source: document #### QA/QC - Laboratory: Nagrom Metallurgical - QA/QC Disclosed: Yes - QA/QC Methods: standards, blanks, duplicates #### Deleterious - Deleterious Flag: No #### Metal Equivalent - Assumptions Disclosed: No #### Compositing - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Review - Needs Review: No - Interp. Status: scored - Historical: No Reasoning: This is a compositional detail from metallurgical sampling, not a drill intercept. - Positive factor: Low iron in the combined sample is explicitly stated - Negative factor: Surface/composite sample context rather than drill intercepts - Negative factor: Not a current drilling result Evidence · text > Single analysis of the combined sample confirmed a high Li2O head grade \(~1.95% Li2O\) and low Fe2O3 head grade \(~0.9%\) #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true ## Resource Estimates (8) ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-resource-facts-0) Mina do Barroso · lithium #### Identity - Project: Mina do Barroso - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:f5722f0d6f88e7a00279 - Deposit or zone: Reservatorio Deposit #### 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: 2017-12-18 #### Lab - Laboratory: ALS Laboratories #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: A maiden 3.2Mt Inferred resource is material and clearly new, but the all-Inferred classification lowers confidence. - Positive factor: Maiden resource establishes a new baseline for the project - Positive factor: Contained lithium metal is explicitly disclosed - Positive factor: JORC 2012 and Competent Person sign-off are stated - Negative factor: Entire resource is Inferred, limiting engineering confidence - Negative factor: No prior estimate is available for comparison Evidence · text > Initial Inferred Mineral Resource of 3.2Mt at 1.0% Li₂O containing 32,000t of Li₂O #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. 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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 8.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-resource-facts-1) Mina do Barroso · lithium #### Identity - Project: Mina do Barroso - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:c6e4b568ff3700dd8e07 - Deposit or zone: Reservatorio Deposit #### Resource Data - Category: inferred - Tonnes: 250000 - Grade: 1.01 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2017-12-18 #### Lab - Laboratory: ALS Laboratories #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: This is a disclosed subtotal supporting the resource table, but it is less material than the headline total and still part of the all-Inferred estimate. - Positive factor: Printed total row provides supporting grade detail for the weathered portion of the resource table - Negative factor: Row is a table subtotal rather than the headline estimate - Negative factor: Contained metal for this subtotal is not separately stated - Negative factor: All resource material remains Inferred Evidence · table > Total 250,000 1.01 19 1.3 2,940,000 1.00 17 1.4 3,190,000 1.00 17 1.4 32,000 Context: Table 2, Total row, Weathered section, Li2O column #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 8.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-resource-facts-2) Mina do Barroso · lithium #### Identity - Project: Mina do Barroso - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:7f11b3b82cd481f3006f - Deposit or zone: Reservatorio Deposit #### Resource Data - Category: inferred - Tonnes: 2940000 - Grade: 1 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2017-12-18 #### Lab - Laboratory: ALS Laboratories #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The fresh-material subtotal is informative for the resource mix, but the headline value is the combined 3.19Mt total. - Positive factor: Fresh material dominates the resource table and is explicitly quantified - Negative factor: This is a subtotal within the estimate table, not the final headline statement - Negative factor: Contained metal for the subtotal is not separately stated Evidence · table > Total 250,000 1.01 19 1.3 2,940,000 1.00 17 1.4 3,190,000 1.00 17 1.4 32,000 Context: Table 2, Total row, Fresh section, Li2O column #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 8.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-resource-facts-3) Mina do Barroso · lithium #### Identity - Project: Mina do Barroso - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:9b672730a2a6b31ff39e - Deposit or zone: Reservatorio Deposit #### Resource Data - Category: inferred - Tonnes: 3190000 - Grade: 1 - Grade Unit: % - Contained Metal: 32000 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2017-12-18 #### Lab - Laboratory: ALS Laboratories #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: The total row is the core result of the release and is highly material, though confidence is limited by the Inferred-only classification. - Positive factor: This is the full deposit total from the resource table - Positive factor: Contained Li2O is explicitly stated - Positive factor: Cut-off grade and reporting standard are disclosed - Negative factor: Entire resource is classified as Inferred - Negative factor: No prior resource exists for comparison Evidence · table > Total 250,000 1.01 19 1.3 2,940,000 1.00 17 1.4 3,190,000 1.00 17 1.4 32,000 Context: Table 2, Total row, Total column #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. 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 **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 8.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-resource-facts-4) Mina do Barroso · iron\_ore #### Identity - Project: Mina do Barroso - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:f5722f0d6f88e7a00279 - Deposit or zone: Reservatorio Deposit #### Resource Data - Category: inferred - Tonnes: 3200000 - Grade: 1.4 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2017-12-18 #### Lab - Laboratory: ALS Laboratories #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: Fe2O3 is disclosed as a byproduct/secondary grade for the resource, but it is not the main investment thesis of the release. - Positive factor: Iron grade is explicitly reported alongside the lithium resource - Negative factor: Iron is a secondary grade in the resource summary and not the focus of the announcement Evidence · text > Tonnes Li2O Fe2O3 Li2O Mt % % Tonnes 3.2 1.00 1.4 32,000 Context: Table 1 header and summary row #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 8.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-resource-facts-5) Mina do Barroso · iron\_ore #### Identity - Project: Mina do Barroso - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:c6e4b568ff3700dd8e07 - Deposit or zone: Reservatorio Deposit #### Resource Data - Category: inferred - Tonnes: 250000 - Grade: 1.3 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2017-12-18 #### Lab - Laboratory: ALS Laboratories #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: This is a secondary iron grade for a resource subtotal and carries limited material importance on its own. - Positive factor: Weathered-domain Fe2O3 grade is explicitly stated - Negative factor: Secondary grade only, with limited standalone significance Evidence · table > 250,000 1.01 19 1.3 Context: Table 2, Total row, Weathered section, Fe2O3 column #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 8.9 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-resource-facts-6) Mina do Barroso · iron\_ore #### Identity - Project: Mina do Barroso - Commodity: iron\_ore - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:7f11b3b82cd481f3006f - Deposit or zone: Reservatorio Deposit #### Resource Data - Category: inferred - Tonnes: 2940000 - Grade: 1.4 - Grade Unit: % - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2017-12-18 #### Lab - Laboratory: ALS Laboratories #### Location - Loc. Confidence: inferred #### Review - Needs Review: No - Historical: No Reasoning: This is a secondary iron grade for a resource subtotal and carries limited material importance on its own. - Positive factor: Fresh-domain Fe2O3 grade is explicitly stated - Negative factor: Secondary grade only, with limited standalone significance Evidence · table > 2,940,000 1.00 17 1.4 Context: Table 2, Total row, Fresh section, Fe2O3 column #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. 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 **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 8.9 years before this release ### Fact 8 [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-resource-facts-11) Seville #### Identity - Project: Seville - Region: spain - Reported Region: Spain - Ticker: SAV #### Resource scope - Estimate type: resource - Resource group id: resource:a1404c73c3bb6d04650c #### Review - Needs Review: No - Historical: No Reasoning: Explicit resource disclosure recovered from source prose. Evidence · text > the Mineral Resource has been reported at a 0.5% Li2O lower cut-off grade to reflect assumed #### Tags used in scoring **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: the Mineral Resource has been reported at a 0.5% Li2O lower cut-off grade to reflect assumed Evidence · text > the Mineral Resource has been reported at a 0.5% Li2O lower cut-off grade to reflect assumed Context: Seville, Spain **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ## Metallurgical Results (2) ### flotation [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-metallurgical-facts-7) Mina do Barroso · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Mina do Barroso - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Test Work - Program Status: preliminary - Test Type: flotation - Processing Route: simple one stage float - Sample: combined sample, preliminary ore characterisation metallurgical test work #### Recovery - Recovery: 83.7 % - Head Grade: 1.95 - Head Grade Unit: % Li2O - Conc. Grade: 5.9 - Conc. Grade Unit: % Li2O #### Lab - Laboratory: Nagrom Metallurgical #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-06-26T00:00:00.000Z Reasoning: The testwork is encouraging but historical. It shows that a conventional one-stage flotation route can make a high-grade spodumene concentrate, but the result is not new to this release. - Positive factor: Reported recovery is solid for an early-stage flotation test - Positive factor: Concentrate grade is high and the product is described as very pure spodumene - Negative factor: This is previously reported metallurgical work, not new test data - Negative factor: Single simple flotation stage without optimisation limits confidence - Negative factor: No recovery assumptions or circuit economics are disclosed Evidence · text > Flotation results utilising a simple one stage float without any optimisation achieved ~83.7% Li2O recovery at ~5.9% Li2O #### Tags used in scoring **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: processing\_route matches the flotation signal **High Recovery** Polarity: positive Definition: Recovery at or above the exceptional band for the commodity and processing route. Why it applies: 83.7% is at or above the exceptional band \(80%\) ### heavy liquid separation [Link to this fact](https://atlas-extractions.minestarters.com/news/maiden-lithium-resource-of-3-2mt-for-the-mina-do-barroso-lithium--000e268f-a257-48fd-bf51-b255f4320a37#fact-metallurgical-facts-8) Mina do Barroso · lithium Historical result Needs review: historical\_restatement #### Identity - Project: Mina do Barroso - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Test Work - Program Status: preliminary - Test Type: heavy liquid separation - Processing Route: heavy liquid separation - Sample: combined sample, preliminary ore characterisation metallurgical test work #### Recovery - Head Grade: 1.95 - Head Grade Unit: % Li2O - Conc. Grade: 8 - Conc. Grade Unit: % Li2O #### Lab - Laboratory: Nagrom Metallurgical #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2017-06-26T00:00:00.000Z Reasoning: This is a supportive historical metallurgy result showing product quality, but without a recovery figure it is less informative than the flotation data. - Positive factor: HLS indicates a very high-grade product can be produced from the mineralisation - Negative factor: No recovery percentage is reported for the HLS result - Negative factor: The result is historical and previously announced Evidence · text > Heavy Liquid Separation \(“HLS”\) shows a very pure \(~8%\) Li2O product can be produced ## 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.