European Metals reports increased indicated resource at Cinovec
JOHANNESBURG (miningweekly.com) – Following a four-month drilling campaign, ASX- and Aim-listed European Metals has announced an additional upgrade of its Joint Ore Reserves Committee-compliant Cinovec lithium/tin project, in the Czech Republic, confirming the project’s status as Europe’s largest lithium resource.
The drilling programme, which comprised six core drillholes for 2 697.1 m, added 39.4-million tonnes of mineral resource grading 0.41% lithium oxide and 0.04% tin, increasing the indicated mineral resource category by 7% to 372.4-million tonnes at 0.44% lithium oxide. The programme aimed to close ‘gaps’ in the existing resource model in and around the initial planned mining areas. It also sought to upgrade part of the resource from the ‘inferred’ category to the higher-confidence ‘indicated’ category by targeting areas of low historic data density so they can be used in an ongoing definitive feasibility study.
European Metals MD Keith Coughlan noted that the drilling had been a success, with some large areas of higher-grade mineralisation defined in the target area.
He added that, on the back of the resource upgrade, European Metals had started an optimisation of the mine design.
“When complete, this will allow finalisation of a grid drilling programme for upgrading parts of the indicated resource to measured resource to facilitate the definition of proven reserves for the definitive feasibility study that is progressing well,” said Coughlan.
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