European Metals Holdings Limited (LON:EMH) today provided a project update highlighting further significant advancements made in the development of the Cinovec Lithium-Tin Project.
· The planned diamond drilling resource campaign has commenced.
· A total of eight resource drill holes will be completed during this campaign with the first hole already completed.
· Geophysical logging of the first four geotechnical drill holes at the proposed mine portal site has been completed.
· A further five geotechnical drill holes are planned once resource drilling has been completed.
The Company can confirm that resource drilling has commenced and that the first hole, CIS-10, has been completed at 340 metres, following the Company receiving permission from the statutory authorities in the Czech Republic for the commencement of this year’s planned diamond drilling campaign.
As reported on 1 October 2018 (DFS LEVEL DRILLING PERMITS GRANTED – LITHIUM HYDROXIDE TESTWORK COMMENCED), drilling is aimed at converting a sufficient portion of the existing Indicated Mineral Resource to the Measured Resource category to cover the first two years of the scheduled mining plan. A total of eight diamond drill holes will be completed for 2,560 metres. The area to be drilled is shown in Figure 1.
The Company is also pleased to report the completion of downhole geophysical logging of the initial four geotechnical holes that were reported on 4 September 2018 (CINOVEC PROJECT UPDATE – SIGNIFICANT ADVANCEMENTS) for the portal area.
A further five geotechnical holes along the planned mining decline route will be drilled and logged subsequent to the completion of the resource drilling. This data will allow final development ready designs to be completed for the portal and decline.
European Metals Managing Director Keith Coughlan commented, “We are very pleased to have begun our DFS drilling programme so soon after receiving permission for the work. This drilling campaign will provide an upgrade to the existing resource at Cinovec. We are excited about the acceleration in the rate of project development that has been achieved by the team in recent months. We look forward to soon being in a position to release the results of our lithium hydroxide, final product, option study.”