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European Metals hits high lithium grades at Cinovec

European Metals hits high lithium grades at Cinovec

European Metals (ASX:EMH) has logged some strong drilling results at the Cinovec lithium-tin-tungsten project in the Czech Republic, with grades exceeding 1% lithium.

One standout intercept marked 14 metres at 1.08% lithium oxide from 276 metres.

Other results included 29.5 metres at 0.25% lithium oxide from 83.5 metres and 152.2 metres at 0.47% lithium oxide from 229.9 metres.

In addition, the lithium intercept contains zones enriched in tin and tungsten, with 4 metres at 0.39% tin from 248 metres , 3 metres at 0.26% tin from 277 metres and 5 metres at 0.09% tungsten from 278 metres. 

This additional mineralisation is expected to lower the unit production cost of lithium carbonate by offering by-product credits.

The drilling has been completed on time and budget with four holes totalling 1,655 metres.

Two holes in this program remain to be analysed.

The current drill program has been planned to facilitate conversion of resources from the inferred to indicated category and provide material for metallurgical testing.

Inferred resources currently stand at 514.8 million tonnes at 0.43% lithium oxide.

Within this inventory lies one of the largest undeveloped tin deposits in the world, with total indicated and inferred resources of 79.7 million tonnes grading 0.23% tin for 183,000 tonnes of contained tin.

Cinovec is considered the largest lithium deposit in Europe and has potential to be a very low cost producer of lithium carbonate.

Stock in European Metals has performed strongly with warming sentiment for the lithium sector as global battery and energy storage markets heat up.

Shares in the company have risen more than 230% year on year to A$0.15.

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