European Metals Holdings LON:EMH Managing Director Keith Coughlan said, “Cinovec is a globally significant lithium deposit. Its location on the German-Czech Republic border places it in very close proximity to the largest car manufacturers in Europe and is in a unique position to supply lithium to the rapidly growing European electric vehicle industry.
The substantial increase in the higher confidence indicated resources in both contained lithium and in valuable by-product tin provides more certainty that European industry will be able to source locally produced lithium in a secure and stable environment.”
Independent Resource Consultant Lynn Widenbar noted, “The additional new drilling results from 2016 have greatly increased confidence in the historic surface and underground drilling and sampling, resulting in a substantial amount of previously Inferred material being re-classified as Indicated. The additional drilling has also enabled the two main value elements of lithium and tin to be combined in one complete model that covers the entire mineralisation at the Cinovec deposit.”
European Metals Holdings Limited LON:EMH is pleased to tell DirectorsTalk about a substantial upgrade of its JORC compliant Indicated Mineral Resource at the Company’s 100% owned Cinovec Lithium/Tin Project in the Czech Republic, confirming its status as the largest Lithium resource in Europe
The Company has recently completed an extensive seven-month drilling campaign at Cinovec, consisting of 17 holes for 6,081 meters designed to increase the confidence in the resource base and to upgrade a significant part of the resource from the Inferred category to the higher confidence Indicated category.
* Lithium Indicated Resource increased 50% to 3.9 Mt LCE, contained in 347.7 Mt @ 0.45% Li(2) O and 0.04% Sn (0.1% Li cut-off) * Lithium Total Resource increased 11.8% to 7.0 Mt LCE, contained in 656.5 Mt @ 0.43% Li(2) O and 0.04% Sn (0.1% Li cut-off) * Total contained tin in the Total Mineral Resource increases to 262,600 tonnes * Lithium Exploration Target remains 350 to 450 Mt @ 0.39% to 0.47% for 3.4 Mt to 5.3 Mt of LCE.