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European Metals Holdings Ltd.
Summary
| Project: | Cinovec | |
|---|---|---|
| Deposit: | Cinovec | |
| Location: | Czech Republic | |
| Commodities: | Tin-Lithium-Tungsten-Niobium-Tantalum | |
| Date: | 6/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 27-6-2017: European Metals Holdings Ltd. announces a Resource Estimation report for its Cinovec deposit at the Cinovec project. Initial ore reserve for Cinovec Project. European Metals Holdings Limited ("European Metals" or "the Company") (ASX and AIM: EM | |
| Resources: | (Reserve, Prob.): 34.5Mt @ 0.30% Li, 0.65% Li2O, 0.09% Sn, 0.03% W at project | |
| 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 declare the maiden Ore Reserve at the Company’s Cinovec Lithium / Tin Project in the Czech Republic. In addition, the Company has appointed Mr Richard Pavlik to the Board of Directors, and secured short-term funding. European Metals Managing Director Keith Coughlan said, “I am pleased to report a maiden Ore Reserve for Cinovec. The conversion of 34.5 million tonnes of Mineral Resource to Ore Reserve was facilitated by the recently published PFS. This is another significant step in the development of the largest lithium resource in Europe. I am also very pleased to welcome Richard Pavlik to the Board of Directors of European Metals on the resignation of Mr Pavel Reichl. Richard has made a significant contribution to the Company since taking the role of Country Manager in January and is a key component of the development of the project. On behalf of the Board I would like to thank Pavel for his role in the development of Cinovec to date. Pavel has been instrumental in securing the project and in managing a great deal of the early work. In addition, we have secured short term funding to allow us to continue work on the Definitive Feasibility Study whilst finalising discussions with a number of potential European based partners. It is the company’s preferred route to partner with a European strategic investor for the bulk of the feasibility funding.” 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. | |
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