Mining lease granted over Wolfsberg - Global Strategic Metals
PERTH (miningweekly.com) – Metals explorer Global Strategic Metals has been granted mining leases over its 80% held Wolfsberg lithium project, in Austria.
The ASX-listed junior had previously been granted a mining licence to carry out bulk mining activities at Wolfsberg, allowing the company to extract 1 000 t of bulk samples.
The grant of the mining leases followed the successful completion of the bulk sampling work in December last year.
“The grant of the mining leases is a significant milestone for the company, by providing long-term security of tenure over the project as the company moves forward with its plans to become the first producing lithium company in Europe," said Global chairperson Tony Sage.
Under the terms of Austrian mining law, Global was required to carry out production works on the mining lease for at least four months out of the year, and the licence cannot be withdrawn by the Mines Authority unless the company failed to comply with regulations.
Global has successfully applied for a two-year exemption to the four-month operational regulation, as it focused on development activities such as updating the metallurgical testwork.
The Wolfsberg project has an inferred Joint Ore Reserves Committee-compliant resource of about 18-million tonnes, at 1.6% lithium oxide, which includes a measured resource of 3.7-million tonnes, at 1.5% lithium oxide.
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