Sign up Australia
Proactive Investors - Run By Investors For Investors

European Lithium schedules delivery of pre-feasibility study

Shares are trading up 35% over the past month to $0.068.
map of Europe showing Austria marked by a pin
The project's central European location means it is close to lithium import markets

European Lithium (ASX:EUR) has appointed all necessary consultants for the planned pre-feasibility study (PFS) for its Wolfsberg Lithium Project located in Austria.

DRA Global is the lead consultant for the PFS and its project team began introductory work on 31 October 2017.

A work schedule has been developed for completion of the PFS in the March quarter 2018.

During October, the company completed a placement raising $2.3 million, mainly from European based sophisticated investors, at an issue price of $0.05 per share.

The funds raised will be used towards finalising the pre-feasibility study at Wolfsberg.

Wolfsberg Lithium Project

The 100% owned Wolfsberg Lithium Project has a JORC resource of 10.98 million tonnes grading 1.0% lithium oxide.

The deposit is split into Zone 1 and Zone 2.

The current resource, which is located in Zone 1 has the potential to be further increased by drilling at depth and along strike.

Furthermore, results from initial drilling in Zone 2 showed wide high-grade intersections, which confirm the potential of this area to mirror the resources of Zone 1.

PFS consultants

DRA Global has been appointed to lead the PFS and integrate the work of all consultants as well as undertake the engineering and cost estimates for the processing and infrastructure.

SRK from the UK will develop the preliminary mine design to PFS level and Dorfner Anzaplan from Germany have been retained to conduct further metallurgical test work.

Other consultants include Benchmark Minerals Intelligence and Orykton Consulting.

READ NOW: European Lithium to fast-track lithium pre-feasibility study

View full EUR profile View Profile

European Lithium Ltd Timeline

Related Articles

Mundoro on the hunt for large copper-gold projects in south-eastern Europe
June 21 2017
Borsko shows huge potential for copper-gold epithermal and porphyry system
1510522937_cobalt-blue_joe-in-korea.jpg
November 13 2017
The company is the only "pure play cobalt" ASX-listed company with >80% leverage to cobalt.
gold
September 30 2017
Hellyer fell into NQ’s control after it agreed to buy Keen Pacific – the former owner – for A$20mln back in April

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use