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European Metals Holdings Ltd.
Summary
| Project: | Cinovec | |
|---|---|---|
| Deposit: | Cinovec | |
| Location: | Czech Republic | |
| Commodities: | Tin-Lithium | |
| Date: | 11/23/2016 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing resource increase/Upgrade | |
| Report details: | 23-11-2016: European Metals Holdings Ltd. announces a Resource Estimation report for its Cinovec deposit at the Cinovec project. Updated mineral resource estimate for project. European Metals Holdings Limited (“European Metals” or “the Company”) (ASX and | |
| Resources: | (Resource, I+I): 606.8Mt @ 0.43% Li2O and 70.5Mt @ 0.20% Sn | |
| CP/QP: | [Resources]: Lynn Widenbar (Widenbar and Associates Pty Ltd.) | |
| ABSTRACT: | European Metals Holdings Limited (“European Metals” or “the Company”) (ASX and AIM: EMH) is pleased to announce an interim upgrade of its Mineral Resources at the Cinovec lithium/tin project in the Czech Republic. The upgrade has delivered a 420% increase in Indicated Mineral Resources, which, when combined with the Inferred Mineral Resources, results in a total resource of an estimated 6.46Mt of LCE. The significant increase in the indicated portion of the Mineral Resource, and the resource in total, will have a positive impact for mine planning and the life of mine. In particular, the Mineral Resource will allow management to optimise the mine plan and maximise Cinovec’s financial returns and further progress in the ongoing prefeasibility study, which is due for publication at the end of March next year. The lithium (“Li”) and tin (“Sn”) resources have been updated using data from the latest drill holes released to market over the last 5 months. Resource classifications have been revised on the basis of the new data. European Metals Managing Director Keith Coughlan said, “This significant upgrade to the Cinovec Indicated lithium resource is particularly pleasing as it provides basis for the soon to be completed preliminary feasibility study. When the tonnage and grade for this material are compared to the previously calculated Inferred resource, neither grade nor tonnage changed much, highlighting the robustness of the resource and geological models, and continuity of the orebody. Drilling will continue until the end of the year at which point the model will be updated again. | |
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