European Metals Holdings Ltd has announced a further upgrade of its JORC-compliant Indicated mineral resource at the Cinovec Lithium/Tin project in the Czech Republic, which confirms its status as the largest Lithium resource in Europe.
The company has recently completed a four-month drilling campaign at Cinovec South, comprising six core drill holes for 2 697.1 million m, with the goal of closing ‘gaps’ in the existing resource model in and around the initial planned mining areas and upgrading part of the resource from the ‘Inferred’ category to the higher confidence ‘Indicated’ category. The results, summarised below, are satisfactory and exceeded expectations.
For the entire Cinovec deposit (South and North), the drilling added 39.4 million t of mineral resource grading 0.41% Li2O and 0.04% Sn (0.1% Li cut off) or 220 kt of lithium carbonate (LCE).
Majority of resource increase (97%) is at Cinovec South where initial mining is planned.
The indicated mineral resource category increased by 7% to 372.4 million t at 0.44% Li2O.European Metals Managing Director, Keith Coughlan said: “This drill programme targeted areas of low historic data density with the aim of bringing these areas, which lie adjacent to the planned initial mining area, to Indicated Resource category so they can be used in the ongoing definitive feasibility study. The drilling was a success with some large areas of higher grade mineralisation defined in the target area.”
“On the back of this resource upgrade, we have commenced an optimisation of the mine design. When complete, this will allow finalisation of a grid drilling programme for upgrading parts of the Indicated Resource to Measured Resource to facilitate the definition of proven reserves for the definitive feasibility study that is progressing well.”