The following announcement was released on the Australian Securities Exchange (ASX) in satisfaction of Listing Rule 5.9.1.
European Metals Holdings Limited (“European Metals” or “the Company”) have provided further information with regards to the release of 27 July 2017 concerning the declaration of the maiden Ore Reserve at the Company’s Cinovec Lithium / Tin Project in the Czech Republic.
The maiden Ore Reserve was declared subsequent to the publication of the key parameters of the Company’s recently completed Preliminary Feasibility Study.
ORE RESERVE STATEMENT
Based upon the Preliminary Feasibility Study undertaken for the Cinovec Project, the Company declares a maiden Probable Ore Reserve of 34.5 Mt @ 0.65% Li2O, as detailed below. The Probable Reserves have been declared solely from the Indicated Mineral Resource category and are classified based on a PFS level of study and category of Mineral Resource.
|
CINOVEC ORE RESERVES SUMMARY |
|||||
|
Category |
Tonnes |
Li |
Li20 |
Sn |
W |
|
(Millions) |
% |
% |
% |
% |
|
|
Proven Ore Reserves |
0 |
0 |
0 |
0 |
0 |
|
Probable Ore Reserves |
34.5 |
0.30 |
0.65 |
0.09 |
0.03 |
|
Total Ore Reserves |
34.5 |
0.30 |
0.65 |
0.09 |
0.03 |
Notes to Reserves Table.
1. Probable Ore Reserves have been prepared by Bara International in accordance with the guidelines of the JORC Code (2012).
2. The effective date of the Probable Ore Reserves is June 2017.
3. All figures are rounded to reflect the relative accuracy of the estimate.
4. The operator of the project is Geomet S.R.O. a wholly-owned subsidiary of EMH. Gross and Net Attributable Probable Ore Reserves are the same.
5. Any apparent inconsistencies are due to rounding errors.
The Ore Reserve is based on the Mineral Resource prepared by Widenbar and Associates and issued in February 2017. The Mineral Resource is reported in the report Cinovec Resource Estimation published by Widenbar and Associates and is reported in accordance with the JORC 2012 guidelines. The table below summarises the Mineral Resource declared.
|
CINOVEC 2017 RESOURCE |
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|
Cutoff |
Tonnes |
Li |
Li2O |
Sn |
W |
|
|
% |
(Millions) |
% |
% |
% |
% |
|
|
INDICATED |
0.1% |
347.7 |
0.21 |
0.45 |
0.04 |
0.015 |
|
INFERRED |
0.1% |
308.8 |
0.18 |
0.39 |
0.04 |
0.014 |
|
TOTAL |
0.1% |
656.5 |
0.20 |
0.43 |
0.04 |
0.014 |
Reserves – Other Material Information Summary
A summary of other material information pursuant to Listing Rule 5.9.1 is provided below.
