European Metals (LON:EMH, ASX:EMH) said results from two drill holes 500 metres apart reveal the “extent and consistency” of the lithium mineralisation at its Cinovec deposit in the Czech Republic.
One of the holes, PSn01, found 0.46% lithium oxide over a 156 metres. The concentration rose to 0.63% over a 64 metre, higher grade section.
There were also zones that were enriched with tin and tungsten, which will provide a credit that will help pull down the overall cost of production when output begins in 2018.
The second hole, PSn07, found lithium oxide at 0.32% over 194 metres, with a higher-grade section of 47 metres containing 0.47% lithium.
Again, there were sweet spots for tin and tungsten. The drilling was done down to around 450 metres.
The company is now planning a second programme, which will begin in the second quarter. It will target the shallow high-grade lithium zone that it believes will form the basis of the initial mining operation at Cinovec.
Chief executive Keith Coughlan said: "We are very pleased with the results for these drill holes.
2These holes are about 500m apart and show the extent and consistency of the lithium mineralization at Cinovec.
“I am very pleased with the fact that the lithium enriched zones include Sn and W mineralization of significant width and locally outstanding grades of tin and tungsten.
“The valuable tin and tungsten minerals will be recovered by gravity during the preparation of lithium concentrate without incurring added cost and will thus significantly reduce the total cost of lithium carbonate produced from the Cinovec project.”