European Metals encounters more Cinovec lithium-tin mineralisation
THE DRILL SERGEANT: European Metals Holdings (ASX: EMH) announced the intersection of further lithium-tin mineralisation at the company’s Cinovec lithium-tin-tungsten project in the Czech Republic.
European Metals Holdings received analytical results for a two drillholes CIW- 07 and CIW-08 at Cinovec, which were collared near the profject’s historic main shaft.
The company said the drilling had encountered lithium mineralisation from less than 10 metres depth in both holes, adding these were the shallowest intervals it has recorded to-date.
Drillhole CIW-07 returned a lithium-mineralized intercept of:
226.7 metres at 0.45 per cent lithium oxide (Li2O) (inclusive of a 6.6m below cut-off un-altered granite), from 35m.
Drillhole CIW-08 returned a mineralized intercept of:
246.3m averaging 0.40 per cent Li2O from 10.7m, containing high-grade intervals of 6m at 0.78 per cent Li2O (126m to 132m), and 4m at 0.88 per cent Li2O (147m to 151m).
The drilling also intersected tin and tungsten mineralisation in the upper part of both drillholes, including:
Drillhole CIW-07
12.5m at 0.19 per cent tin and 0.028 per cent tungsten;
3.05m at 0.17 per cent tin and 0.077 per cent tungsten;
1.45m at 0.83 per cent tin and 0.124 per cent tungsten;
5m at 0.17 per cent tin and 0.001 per cent tungsten; and
2m at 0.112 per cent tungsten and 0.04 per cent tin.
Drillhole CIW-08
4m at 0.76 per cent tin and 0.081 per cent tungsten;
6m at 0.38 per cent tin and 0.030 per cent tungsten;
4m at 0.19 per cent tin and 0.003 per cent tungsten; and
2m at 0.79 per cent tin and 0.095 per cent tungsten.
European Metals Holdings said the drilling was continuing in the western part of the Cinovec deposit targeting high-grade zones near the rhyolite/granite contact, as well as in the central part of the deposit targeting near-surface mineralization on the flanks of the historic underground mine.
Altogether, nine drillholes have been competed this year (3,222m) with three other underway at this time.
“We are very pleased with the results for the latest two neighbouring drillholes, located in the uppermost part of the Cinovec deposit near the historic mine shaft,” European Metals Holdings CEO Keith Coughlan said in the company’s announcement to the Australian Securities Exchange.
“The shallow lithium intercepts that extend significantly beyond historical workings, combined with the substantive tin and tungsten grades auger well for the economics of the deposit in this area.
“We are very pleased to see the tin price back above US$21,000 per tonne.
“This enhances the economics of Cinovec significantly and provides us with great flexibility with regards to the development of the project.
“Cinovec is not only the largest lithium resource in Europe, it also contains one of the largest undeveloped tin resources in the world.”
Website: www.europeanmet.com