European Lithium Ltd increase JORC 2012 lithium resource by 75%
Steve Kesler, CEO, commented: “The resource model will allow us to initiate mine design studies to determine the maximum rate of underground mining that can be economically achieved.”
Company
ASX:EUR
European Lithium is a listed mining exploration and development company focusing on its wholly owned Wolfsberg Lithium Project in Austria. The company aims to be the first local lithium supplier into an integrated European battery supply chain.
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Steve Kesler, CEO, commented: “The resource model will allow us to initiate mine design studies to determine the maximum rate of underground mining that can be economically achieved.”
A JORC 2012 compliant resource is the next key step in advancing the Wolfsberg lithium project.
Steve Kesler, CEO, commented: "These results confirm the Wolfsberg deposit to have high grade pegmatite veins."
Wolfsberg has a JORC compliant inferred resource of 3.7 million tonnes at 1.5% lithium oxide.
European Lithium Ltd (ASX:EUR, FRA:PF8) has listed its shares on the Frankfurt Stock Exchange to increase exposure to European investors.
This surface drilling exploration program will aim to upgrade the current JORC resource to advance the lithium project towards the development phase.
European Lithium Ltd to update on exploration at Wolfsberg.
Tony Sage, chairman, commented: “We are focused on the aggressive development of the project, with the fund raising and ASX listing successfully completed the company can concentrate on the potential for fast track production.”
European Lithium Ltd has completed its drilling program at the Wolfsberg Lithium Project in Austria which aims to support an updated JORC 2012 resource.