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European Metals Holdings

European Metals secures permits for further drilling on Europe’s largest lithium deposit

The aim is to move two years' worth of ore into the indicated resource category

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Lithium demand is driven by the increasing use of electric vehicles

European Metals Holdings LTD (LON:EMH) has secured permits to drill 13 new holes at the Cinovec project in the Czech Republic as part of an ongoing definitive feasibility study.

The drilling is aimed at upgrading a sufficient portion of the existing indicated resource to a measured resource in order to cover the first two years of the scheduled mining plan. 

WATCH: European Metals Holdings 'back to business as usual' with work on updated PFS

Meanwhile, testwork at Dorfner Anzaplan in Germany has commenced on schedule, with the aim of proving up a flowsheet for the production of lithium hydroxide. 

"It is very pleasing to receive permission from the relevant Czech authorities to begin our DFS drilling programme,” said managing director Keith Coughlan.

“The timing allows us to begin the programme ahead of the winter season and provide an upgrade to the existing resource at Cinovec as part of the DFS.”

As it stands, Cinovec hosts a globally significant hard rock lithium deposit with a total indicated resource of 348mln tonnes grading 0.45% Li2O and 0.04% tin, with an additional inferred resource of 309mln tonnes grading 0.39% Li2O and 0.04% tin.

This makes Cinovec the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource.

 

Quick facts: European Metals Holdings

Price: £0.18

Market: AIM
Market Cap: £27.15 m
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