European Metals increases Cinovec resource by 420%
PERTH (miningweekly.com) – ASX-listed junior European Metals has reported a 420% increase in the indicated lithium resource at its Cinovec project, in the Czech Republic.
The indicated resource increased to 2.6-million tonnes lithium carbonate equivalent, contained in 232.8-million tonnes, grading 0.45% lithium oxide. The total lithium resource increased by 11.8% to 6.46-million tonnes of lithium carbonate equivalent, contained in 606.8-million tonnes.
The indicated tin resource also increased by 64%, to 28.6-million tonnes at 0.23% tin and 0.54% lithium oxide, for 65 800 t of tin and 0.38-million tonnes of lithium carbonate equivalent.
“This significant upgrade to the Cinovec indicated lithium resource is particularly pleasing as it provides the basis for the soon to be completed preliminary feasibility study,” said European Metals MD Keith Coughlan.
“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.”
A 2015 scoping study found that a two-million-tonne-a-year operation could deliver 4 200 t/y of tin, 800 t/y of tungsten, and 19 400 t/y of lithium carbonate.
A prefeasibility study is currently under way.
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