THE BOURSE WHISPERER: Cobre Montana (ASX: CXB) has claimed its metallurgical processing technique has been a major contributor to a recent Resource upgrade at the Cinovec tin-lithium project in the Czech Republic.
Cobre said the test processing methods it had employed on the combined tin-lithium project contributed to a major upgrade of the project’s resource inventory, particularly its lithium potential.
Australian tin developer, European Metals Holdings Limited (ASX: EMH) is the 100 per cent owner of the Cinovec’s project.
EMH incorporated the new Cobre results to redefine the economics of the resource, which delivered:
An Inferred lithium Resource of 5.5 million tonnes lithium carbonate equivalent (LCE), 514.8 million tonnes at 0.43 per cent lithium oxide (0.1 per cent lithium cutoff); resulting in a 285 per cent increase in tonnage and a 175 per cent increase in contained lithium; and
An additional Exploration Target of 3.4 to 5.3 million tonnes LCE, 350 to 450 million tonnes at 0.39 to 0.47 per cent lithium oxide.
“The higher Inferred lithium resource estimate at Cinovec is a pleasing outcome, reinforcing the company’s metallurgical approach to optimising the project’s potential,” Cobre Montana managing director Adrian Griffin said in the company’s announcement to the Australian Securities Exchange.
It builds on the company’s recent breakthrough in extracting lithium from micas from one of its Western Australian projects, allowing the new Czech results to be incorporated into the current Cinovec scoping study, due for completion by mid-year.”
Cobre explained the initial success it achieved in Western Australian using process technology developed by Perth-based Strategic Metallurgy and subject-to-patent applications, to extract lithium from micas deposits at Lepidolite Hill, near Coolgardie in a joint initiative with Focus Minerals (ASX: FML).
“The high lithium yields from the lepidolite micas at Lepidolite Hill and the zinnwaldite micas from Cinovec we announced in October 2014, and February 2015 respectively, demonstrated their suitability for processing with Strategic Metallurgy’s proprietary leach technology, which is now licensed to Cobre.”