# Mineral Resource Increase of 17% to 23.5Mt at Mina do Barroso Lithium Project Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6 Original source: https://www.rns-pdf.londonstockexchange.com/rns/5067V_1-2019-4-8.pdf Publisher: research Original announcement: Unknown date Analysis by Minestarters Atlas Atlas analysis published: 2026-11-11T14:35:08.664Z Atlas analysis updated: 2026-11-11T14:35:08.664Z - Company: Unavailable - Ticker: SAV - Exchange: LSE - Region: northern Portugal - Primary commodity: Lithium - Secondary commodities: Iron ore, Tantalum - Document categories: Resource update, Metallurgy, Other - Extracted: 2026-11-11 14:35:08 UTC Narrative sentiment: 0.62 · Bullish ## Minestarters Atlas summary Savannah reports a 17% increase in the Mina do Barroso JORC Mineral Resource to 23.5Mt at 1.02% Li2O, with 241,000t contained Li2O. The update also lifts Measured and Indicated tonnage to 13.3Mt and highlights that metallurgical test work supports conventional processing, while further optimisation work continues. Reasoning: The release reports a material JORC resource increase and improved confidence at Mina do Barroso, alongside supportive but still preliminary metallurgical commentary. It is positive and materially important, but not a feasibility or production milestone. - Positive factor: JORC compliant Mineral Resource increased to 23.5Mt at 1.02% Li2O - Positive factor: Measured and Indicated resource increased to 13.3Mt and now represents 58% of the total resource - Positive factor: QA/QC, competent person sign-off and cut-off grade are disclosed - Positive factor: Metallurgical test work indicates conventional processing can generate high-grade lithium concentrate - Negative factor: Exploration Target remains conceptual and is not a resource - Negative factor: No modifying factors were applied to the reported Mineral Resource Estimate - Negative factor: Metallurgical work is ongoing and no final flowsheet is defined Facts used in scoring: 18 ## Classification and evidence **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The announcement states the estimate is a JORC 2012 compliant Mineral Resource Estimate. Evidence · text > JORC 2012 Compliant Measured, Indicated and Inferred Mineral Resource Estimate **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: The release names Paul Payne and says the resource information is based on his work as Competent Person. 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 explicitly states a 0.5% Li2O cut-off. Evidence · table > 0.5% Li2O Cut-off Context: Table 3. April 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) **QA/QC Disclosed** Polarity: positive Story-specific tag 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 states QAQC protocols were in place and names blanks, standards and field duplicates. Evidence · text > QAQC protocols were in place **Infill Drilling** Polarity: neutral Story-specific tag Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The program is described as focused on improving the resource category and increasing confidence in the existing mining inventory. Evidence · text > focused on both improving the Mineral Resource Estimate category of the existing Mining Inventory **Free Milling** Polarity: positive Definition: Simple, clean ore amenable to standard processing without oxidation. Why it applies: The metallurgy section says conventional processing technology can generate concentrate, without refractory treatment being required. Evidence · text > using conventional processing technology **Deleterious Elements Present** Polarity: negative Story-specific tag Definition: A source-stated penalty, refractory or recovery concern in the fact's scope. Element detection alone, including measured elements explicitly below penalty thresholds, does not trigger this tag. Respect negation and retain a separately stated concern even when another risk is explicitly absent. Why it applies: Iron contamination in assay data is discussed and corrected for before estimation. Evidence · text > a large proportion of the assayed iron is due to contamination **Apparent Width Only** Polarity: negative Story-specific tag Definition: A reported assay interval gives downhole or apparent length without a disclosed true width. It describes geometric uncertainty, not a measured true thickness or proof that the interval is overstated; drill orientation alone is not a true-width measurement. Why it applies: Some mineralisation widths are described in terms of thickness and true width, but many resource tables do not carry drill orientation details; this is mainly a resource-summary release rather than a drill intercept report. Evidence · text > The lower portion is a steep dipping dyke, which is 15m-20m in true width **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a flotation route \("concentrate"\) **Multi-Domain Tested** Polarity: positive Definition: Completed testwork covers multiple identified ore domains and addresses variability under DOMAIN\_COVERAGE\_TIERS. Multiple sample or composite identifiers from the same domain do not establish multiple domains, and a proposed programme is not completed coverage. Why it applies: 3 distinct composites were tested ## Extracted facts Stored fact records: 18. Some facts used in scoring do not have a stored record. ## Resource Estimates (13) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:f2f7c5b22c2c02dc40cf - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 6600000 - Grade: 1.1 - Grade Unit: % Li2O - Contained Metal: 71600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: Measured lithium resource is a key component of the updated estimate and shows strong geological confidence. - Positive factor: Measured resource disclosed in a JORC-compliant update - Positive factor: Contained metal and cut-off grade are stated - Positive factor: Part of a larger 23.5Mt resource increase Evidence · table > Measured 6.6 1.1 0.7 71,600 Context: Table 1. Updated Mineral Resource Estimation Summary #### 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 7.6 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-resource-facts-1) 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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:69fe208410db3548f15e - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 6800000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 65400 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The indicated component is material because it supports mine planning and now forms a large part of the resource base. - Positive factor: Indicated resource increased as part of the updated estimate - Positive factor: JORC-compliant reporting and QP sign-off are disclosed Evidence · table > Indicated 6.8 1.0 0.8 65,400 Context: Table 1. Updated Mineral Resource Estimation Summary #### 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 7.6 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:32f94898ef1fe9ba756b - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 10200000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 103900 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The inferred category adds scale, but it carries lower confidence and therefore less immediate engineering value. - Positive factor: Inferred resource is explicitly quantified in the updated estimate - Positive factor: The project-wide resource inventory expanded - Negative factor: Inferred material still forms a substantial portion of the resource - Negative factor: Lower confidence than Measured and Indicated Evidence · table > Inferred 10.2 1.0 0.9 103,900 Context: Table 1. Updated Mineral Resource Estimation Summary #### 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 7.6 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-resource-facts-3) 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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:f2f7c5b22c2c02dc40cf - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 6600000 - Grade: 1.1 - Grade Unit: % Li2O - Contained Metal: 71600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: This repeats the measured project total from the detailed table and confirms the headline resource summary. - Positive factor: Measured resource row repeated in detailed table - Positive factor: Cut-off grade disclosed Evidence · table > Measured 6.6 1.1 0.7 71,600 Context: Table 3. April 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) #### 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 7.6 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:69fe208410db3548f15e - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 6800000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 65400 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The detailed table confirms the indicated resource component used in the headline summary. - Positive factor: Indicated project total is explicitly stated in the detailed summary Evidence · table > Indicated 6.4 1.0 0.8 65,300 Context: Table 3. April 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) #### 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 7.6 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-resource-facts-5) 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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:32f94898ef1fe9ba756b - Deposit or zone: All Deposits - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 10200000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 103900 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The inferred resource remains an important part of the project inventory but is lower confidence than the Measured and Indicated material. - Positive factor: Inferred project total is explicitly stated in the detailed table - Negative factor: Large inferred component reduces confidence Evidence · table > Inferred 10.2 1.0 0.9 103,900 Context: Table 3. April 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) #### 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 7.6 years before this release ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:65429716cb756cb6d811 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: measured - Tonnes: 6600000 - Grade: 1.1 - Grade Unit: % Li2O - Contained Metal: 71600 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: Grandao is the flagship component of the resource update and the measured tonnage is a strong confidence signal. - Positive factor: Grandao Measured resource is material and supports the main pit area - Positive factor: Contained metal and cut-off are stated Evidence · table > Measured 6.6 1.1 0.7 71,600 Context: Grandao April 2019 - Total Mineral Resource Estimate #### 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 7.6 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-resource-facts-7) 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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:8d49c6ce1c0e8bb88711 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 6400000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 65300 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The indicated Grandao tonnage is significant and supports mine planning and continuity. - Positive factor: Grandao indicated resource adds scale to the main deposit Evidence · table > Indicated 6.4 1.0 0.8 65,300 Context: Grandao April 2019 - Total Mineral Resource Estimate #### 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 7.6 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:8cbeee5c8929b2b88715 - Deposit or zone: Grandao - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 4800000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 48900 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The inferred Grandao material adds scale but remains speculative relative to the measured and indicated material. - Positive factor: Grandao inferred resource is quantified in the update - Negative factor: Inferred classification carries lower confidence Evidence · table > Inferred 4.8 1.0 0.7 48,900 Context: Grandao April 2019 - Total Mineral Resource Estimate #### 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 7.6 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-resource-facts-9) 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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:b39c29005ab0936c6508 - Deposit or zone: Reservatorio - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 3200000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 32000 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: Reservatorio contributes to the project total, but this release only shows it as inferred rather than higher-confidence material. - Positive factor: Reservatorio resource is included in the project inventory - Positive factor: Contained metal is stated - Negative factor: Only an inferred resource is stated for this deposit in the summary Evidence · table > 3.2 1.0 1.4 32,000 Context: Reservatorio / Table 3. April 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) #### 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 7.6 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:8dc2e7a21c02961c8c17 - Deposit or zone: Pinheiro - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 2000000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 20000 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: Pinheiro adds conceptual scale, but its entire resource remains inferred in this release. - Positive factor: Pinheiro inferred resource is reported as part of the expanded inventory - Negative factor: No Measured or Indicated resource is shown for Pinheiro in the summary Evidence · table > 2.0 1.0 0.7 20,000 Context: Pinheiro / Table 3. April 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) #### 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 7.6 years before this release ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-resource-facts-11) 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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:9e9c05e268cb9c999089 - Deposit or zone: NOA - Mining method: open\_pit #### Resource Data - Category: indicated - Tonnes: 400000 - Grade: 1.2 - Grade Unit: % Li2O - Contained Metal: 4200 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: NOA contributes a modest indicated component with a slightly higher grade than the project-wide average. - Positive factor: NOA has an indicated resource component - Positive factor: Higher grade than the project average - Negative factor: Small tonnage relative to the project total Evidence · table > Indicated 0.4 1.2 0.8 4,200 Context: NOA / Table 3. April 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) #### 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 7.6 years before this release ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#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 - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Paul Payne - Resource group id: resource:4f9e5738fb6968295b8e - Deposit or zone: NOA - Mining method: open\_pit #### Resource Data - Category: inferred - Tonnes: 300000 - Grade: 1 - Grade Unit: % Li2O - Contained Metal: 2900 - Contained Unit: t - Cutoff Grade: 0.5 - Cutoff Unit: % Li2O #### Prior Estimate - Resource Date: 2019-04-09 #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The NOA inferred tonnage is comparatively small but still relevant to the deposit inventory. - Positive factor: NOA inferred resource is reported alongside the indicated component - Negative factor: Lower-confidence material dominates the deposit Evidence · table > Inferred 0.3 1.0 0.9 2,900 Context: NOA / Table 3. April 2019 Mineral Resource Summary \(0.5% Li2O cut-off\) #### 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 7.6 years before this release ## Metallurgical Results (5) ### metallurgical test work [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-metallurgical-facts-13) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Test Work - Program Status: detailed - Test Type: metallurgical test work - Processing Route: conventional processing technology - Sample: representative mineralisation at Mina do Barroso #### Recovery - Recovery Basis: actual\_test #### Lab - Laboratory: Nagrom Metallurgical - Consultant: Nagrom Metallurgical #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The metallurgy is supportive but qualitative only; it indicates conventional processing may work, but it does not yet provide a quantified recovery basis. - Positive factor: Metallurgical test work was completed by Nagrom Metallurgical - Positive factor: Conventional processing technology is described - Positive factor: High-grade lithium, low-grade iron concentrate can be generated - Negative factor: No numeric recovery is reported - Negative factor: No full flowsheet, reagent regime or test-scale details are given Evidence · text > The work was completed by Nagrom Metallurgical in Australia and confirmed that high-grade lithium ### metallurgical test work [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-metallurgical-facts-14) 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 #### Test Work - Program Status: detailed - Test Type: metallurgical test work - Processing Route: conventional processing technology - Sample: representative mineralisation at Mina do Barroso #### Recovery - Recovery Basis: actual\_test #### Lab - Laboratory: Nagrom Metallurgical - Consultant: Nagrom Metallurgical #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: Iron is mentioned as a byproduct concentrate characteristic, but there is no numeric metallurgical result for it. - Positive factor: Low-grade iron concentrate is specifically mentioned as an outcome - Negative factor: No iron recovery percentage is reported - Negative factor: The statement is qualitative only Evidence · text > high-grade lithium, low-grade iron concentrate can be generated ### metallurgical test work [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-metallurgical-facts-15) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Test Work - Program Status: detailed - Test Type: metallurgical test work - Processing Route: conventional processing technology - Sample: representative mineralisation at Mina do Barroso #### Recovery - Recovery Basis: actual\_test #### Lab - Laboratory: Nagrom Metallurgical - Consultant: Nagrom Metallurgical #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The mineralogical result supports the processing concept, but the release stops short of quantifying performance. - Positive factor: Microscopy confirmed concentrate was almost entirely spodumene - Negative factor: No numeric recovery or concentrate grade is given Evidence · text > Microscopy confirmed that the concentrate was almost entirely spodumene. ### Fact 4 [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-metallurgical-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 #### Test Work - Sample: field duplicates of 208 samples #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: This is an important QA/QC and data-quality note because the iron values required correction for contamination. - Positive factor: QA/QC and duplicate testing are disclosed - Positive factor: Field duplicates of 208 samples were submitted for analysis - Negative factor: Iron contamination was identified in the assay data - Negative factor: The release says the iron content was affected by abrasion of steel sample preparation equipment Evidence · text > field duplicates of 208 samples ### Fact 5 [Link to this fact](https://atlas-extractions.minestarters.com/news/mineral-resource-increase-of-17-to-23-5mt-at-mina-do-barroso-lithium-project--b100c642-3e68-43bb-96c2-4cd6560581b6#fact-metallurgical-facts-17) Mina do Barroso Lithium Project · lithium #### Identity - Project: Mina do Barroso Lithium Project - Commodity: lithium - Region: northern portugal - Reported Region: northern Portugal - Ticker: SAV #### Test Work - Sample: Grandao deposit #### Lab - Laboratory: ALS #### Location - Loc. Confidence: low #### Review - Needs Review: No - Historical: No Reasoning: The check-assay program is material because it underpins the corrected iron values used in the resource estimate. - Positive factor: Preliminary check assays were undertaken - Positive factor: A regression formula was developed to correct Fe contamination - Negative factor: The release states iron contamination was introduced during sample preparation Evidence · text > a preliminary program of check assays ## 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.