leadf
logo-loader
viewEuropean Metals Holdings

European Metals is now drilling Cinovec up towards the measured resources category, with the aim of establishing reserves shortly

Cinovec is a globally-significant hard rock lithium project

European Metals Holdings - European Metals is now drilling Cinovec up towards the measured resources category, with the aim of establishing reserves shortly

European Metals Holdings Ltd (LON:EMH)(ASX:EMH) said it has commenced drilling at the Cinovec lithium project in the Czech Republic, with the aim of establishing a measured resource.

A total of nineteen resource drill holes will be completed during this campaign for a total of 5,550 metres, with the first hole well advanced.

A further two hydro-geological drill holes and four geotechnical drill holes are planned once resource drilling has been completed.

The programme will provide approximately 10 tonnes of drill core for further metallurgical testing and to generate samples.

Following conversion of a substantial portion of the indicated resource into a measured resource, the plan is to establish a mineral reserve to cover the first two years of the scheduled mining plan.

"It is very pleasing to be able to get back to drilling on the project,” European Metals chairman Keith Coughlan said in a statement. “There are no Covid 19 related movement restrictions or limitations and the drilling is progressing well."

"The aim of the campaign is to convert the initial years mining into proven reserves category. Following consultations with potential lenders, we expect that this will assist greatly in the securing of more attractive debt finance for the Project once we enter that stage of operations," he added.

Cinovec hosts a globally significant hard rock lithium deposit with a current indicated resource of 372.4 mln tonnes at 0.45% lithium oxide and 0.04% tin, with a further 323.5mln tonnes inferred.

Quick facts: European Metals Holdings

Price: 23 GBX

AIM:EMH
Market: AIM
Market Cap: £36.9 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of European Metals Holdings named herein, including the promotion by the Company of European Metals Holdings in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

European Metals' Keith Coughlan talks appointment of SMS Group to lead...

European Metals Holdings Ltd's (LON:EMH)(ASX:EMH) chairman Keith Coughlan speaks to Proactive's Andrew Scott following the news they've hired SMS Group Process Technologies GmbH as lead engineer at the Cinovec project, in Czech Republic. SMS will be working on the minerals processing and lithium...

1 day, 14 hours ago

2 min read