Rare Earth Minerals plc's (LON:REM) European lithium investment European Metals Holdings Limited (LON:EMH ASX:EMH) has published a first resource in the higher confidence indicated category.
Using data from five new drill holes, EMH's flagship Cinovec deposit in the Czech Republic is now estimated to contain indicated resources of 0.5Mt of lithium from 49.1Mt of ore at a grade of 0.43%.
Cinovec’s total resource also rose slightly to 5.7Mt contained in 532Mt of ore with a further 3.4-5.3Mt in exploration targets. Previously, Cinovec had an inferred resource of 5.5Mt at 0.43%.
Indicated tin resources at the site have also doubled to 40,000 tonnes.
Keith Coughlan, European Metals managing director added that the upgrade was based only on a modest drill program completed in the southern part of the project.
A much larger drill program will commence next month to test higher grade, shallower lithium mineralisation in the northern half, he said, and this should result in a substantially larger conversion of Inferred to Indicated lithium resources.
Rare Earth has an 19.8% stake in EMH as part of a portfolio of lithium interests around the world that incudes Mexico and Australia as well as central Europe.