Savannah shares up on new Portugal lithium discovery

The share price of diversified junior Savannah Resources jumped 6% on Wednesday on news of three newly discovered pegmatites at the Pinheiro deposit at the Mina do Barroso (MdB) lithium project, in northern Portugal.

Pinheiro is now the fourth major deposit in the mining lease and has the potential to increase the mineral resource estimate to more than 20-million tonnes, for over 200 000 t of contained lithium, the company said in a statement.