Somero and Eräjärvi Lithium Projects, Finland

Key Info

In June 2016 Savannah extended its project portfolio into the attractive lithium arena through the granting of two highly prospective projects, Somero and Eräjärvi, in Finland, which cover a collective area of 159km2. Savannah holds a 100% interest in the projects through its wholly owned subsidiary Finkallio Oy.

Finland has been identified by the Board as one of the most prospective countries on mainland Europe for potential lithium discoveries, offering not only an attractive geological setting but also favourable mining legislation and infrastructure endowment, with both projects adjacent to high quality infrastructure and potential end customers.  With lithium an increasingly attractive commodity due to its increasing role in a changing global energy mix, the projects provide Savannah with access to a strongly expanding market.

The Somero Lithium Project

Somero covers an area of 60.5km² just north of the township of Somero, one of the more prospective parts of the Somero-Tammela rare earth pegmatite belts, which cover an area of about 400km². The Somero reservation application area comprises at least 56 complex pegmatites enriched in lithium, niobium and tantalum. The pegmatites contain lithium silicates and phosphates including spodumene, lepidolite, petalite and lithium rich micas. This application occurs just to the south of TSX listed Nortec Minerals Kietyonmaki and Hirvikalio lithium deposits and covers a series of pegmatites reaching up to 1.2km in length and 50m wide. Historical geological mapping of the area by the Finnish geological survey has confirmed the presence of the lithium minerals.  Initial analysis, geological mapping and rock chip sampling completed in September 2016 identified prospective pegmatites up to 1,200m long and 50m wide with an initial rockchip assay of 4% lithium oxide (‘Li2O’).

The Eräjärvi Lithium Project

Eräjärvi covers an area of 98.5km² approximately 200km north of the Finnish capital Helsinki. The Eräjärvi Pegmatites are situated in southern Finland near the town of Orivesi and about 61 complex pegmatites have been mapped in the area to date. They contain a series of complex and simple pegmatites with the complex pegmatites in the Eräjärvi area often distinctly zoned and contain lithium rich minerals including spodumene and lepidolite.  Dykes within the tenement reach up to 600m length and 50m wide and historical geological mapping by the Finnish geological survey has confirmed the presence of the minerals.  Initial analysis, geological mapping and rock chip sampling highlighted prospective pegmatites up to 800m long and 30m wide with an initial rockchip assay of 1.29% Li2O.

Development Strategy

Early work is already confirming both encouraging grades and defining significant pegmatites at surface containing key lithium minerals.  Savannah is focussed on defining drill targets during 2016 in order to further prove the resource potential of the projects.

Projects cover a 159km2 area of highly prospective lithium terrain in Finland

Geological mapping highlights presence of lithium minerals

Lithium supply shortages have seen lithium carbonate prices rise from c. US$8/kg to over US$24/kg over the past 12 months

Priority drill ready targets to be identified during 2016

Projects complement Savannah’s copper assets in Oman - lithium and copper are key materials in new energy storage solutions

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