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European Lithium Ltd.
Summary
| Project: | Wolfsberg | |
|---|---|---|
| Deposit: | Wolfsberg | |
| Location: | Austria | |
| Commodities: | Lithium | |
| Date: | 4/18/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-4-2017: European Lithium Ltd. announces an Exploration/Drilling Update report for its Wolfsberg deposit at the Wolfsberg project. Drilling results incl. 6.2m @ 1.9% Li2O from 324.71m. European Lithium Limited (ASX:EUR, FRA:PF8)(the Company) is pleased | |
| Resources: | (Resource, M+I): 6.30Mt @ 1.17%Li2O at project | |
| CP/QP: | [Overall Report]: Don Haines (Independent) | |
| ABSTRACT: | European Lithium Limited (ASX:EUR, FRA:PF8)(the Company) is pleased to report results from the surface deep drilling programme at its advanced Wolfsberg Lithium Project (Wolfsberg), in Austria. Assay results for two of the drill holes have now been obtained, the third drill hole completed and is being logged, whilst the fourth and last drill hole is well advanced and will be completed shortly. The drill hole results confirm that the multiple lithium bearing pegmatite veins extend to depth with intersection widths similar to veins at higher elevations as were reported in the ASX release of 21 November 2016. Significant intersections included a packet of veins 6.2m thick containing 4.33m of mineralised veins assaying a composite 1.9% Li2O in the amphibolite (drill hole P15-17) and a packet of veins 4.28m thick containing 2.71m of mineralised veins assaying a composite 0.73% Li2O in the mica schist (drill hole P15-11). The internal dilution can be rejected by laser sorting. Following completion of the deep hole drill programme the results will be used to upgrade the resource tonnes and a revised resource declaration is anticipated by end May 2017. Steve Kesler, CEO, commented “The drilling results to date clearly demonstrates that the pegmatite veins extend to depth. We anticipate completion of the drilling programme by end April and then declaring an increased resource by end May. The weather conditions at Wolfsberg have greatly improved and, on completion of this Zone 1 drilling, the drilling team will immediately continue with the planned exploration programme in Zone 2, the southern limb of the anticline, where we believe there is the potential to mirror the resources of Zone 1”. | |
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