Rare Earth Minerals plc (LON: REM; OTC: REMMY) described as "hugely positive" latest results from the Cinovec lithium-tin deposit in the Czech republic, which is being worked by European Metals Holdings Ltd (LON:EMH, ASX:EMH).
REM owns a 16.4% stake in EMH and the results are from drillhole CIW-11
It has shown two main mineralised intercepts of 89.95 metres (m) averaging 0.61% lithium and 109.4m averaging 0.38% lithium.
Significantly, that first intercept includes a high-grade interval of 63.85m at 0.76% lithium, which in turn hosts an internal very high grade interval of 12 metres at 1.04 % lithium.
Drilling continues at the deposit, targeting near-surface mineralisation on the flanks of the historic underground mine.
Five holes for 1,644m have been completed this year, with three underway
Kiran Morzaria, Chief Executive of REM, said: "These results from the Cinovec Lithium-Tin deposit are hugely positive and we look forward to seeing further results from the ongoing drilling campaign."