Savannah Resources (LSE:SAV) has completed a five-month geotechnical works program in the eastern block of its Barroso Lithium Project in Portugal.
The program comprised 276 investigation points and 189 test pits, with more than €500,000 ($793,737) expected to be spent on direct services in the local economy.
The work provided detailed technical information on ground conditions and the area’s hydrogeological characteristics, supporting ongoing engineering work and preparations for the project’s future infrastructure.
Some commercial negotiations have now progressed to the post-term-sheet phase, while the RECAPE submission is expected next week.
The company is continuing work across other areas, including refining financing options, progressing front-end engineering design, contracting key equipment, and recruiting an additional 50 staff.
All these workstreams are expected to progress before the end of 2026.
CEO Emanuel Proença says completing the five-month program marks another step towards developing the Barroso Project.
“The benefits of the project to the local economy are becoming increasingly visible, which contributes to a greater understanding and acceptance of the project at local level,” Proença says.
The Barroso Project contains a mineral resource of 39 million tonnes grading 1.05% lithium oxide, containing 411,900 tonnes of lithium oxide across five ore bodies. Savannah says the project is the largest spodumene lithium project in the European Union.
Savannah Resources is focused on developing and operating the Barroso Project, which is intended to establish the company and Portugal as an integral part of Europe’s rapidly growing lithium battery value chain.
Write to Aaliyah Rogan at Mining.com.au
Main image: Savannah Resources
