UPGRADE AND INCREASE IN LITHIUM RESOURCES AT CINOVEC
European Metals Holdings Limited (“European Metals” or “the Company”) (ASX and AIM: EMH) is pleased to announce the upgrade of Mineral Resources at the Cinovec lithium/tin project in the Czech Republic. The lithium and tin resources have been updated using data from five new drill holes. Resource classifications have been revised on the basis of the new data.
European Metals Managing Director Keith Coughlan said, “I am very pleased to report this upgrade to Cinovec’s Mineral Resources. Not only have we defined a maiden lithium Indicated Resource, but we have also increased the total lithium resource and substantially increased the tonnage and grade of the tin Indicated Resource.
The upgrade is based on a modest drill program completed in the southern part of the project. A much larger drill program will commence next month to test higher grade, shallower lithium mineralisation in the northern half of the project. Work to date has shown that Cinovec is a robust and consistent deposit; with our extensive historic database I am extremely confident the upcoming program will result in a substantially larger conversion of Inferred to Indicated lithium resources.
• Maiden lithium (Li) Indicated Resource of 0.5Mt LCE, contained in 49.1Mt @ 0.43% Li2 O (0.1% Li cutoff)
• Li Total Resource increased to 5.7Mt LCE, contained in 532Mt @ 0.43% Li2 O (0.1% Li cutoff)
• Additional Li Exploration Target remains 3.4 to 5.3Mt LCE, contained in 350 to 450Mt @ 0.39 to 0.47% Li2 O (0.1% Li cutoff)
• Tin (Sn) Indicated Resource more than doubled to 15.7Mt @ 0.26% Sn, 0.50% Li2 O (0.1% Sn cutoff) for 40kt Sn, 0.19Mt LCE
• New drilling supports the original Cinovec model, providing confidence that additional drilling will result in significant resource upgrades and increases