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Cinovec drilling progressing well, says REM

Drilling at the Cinovec lithium-tin-tungsten project in the Czech Republic is progressing well, reported Rare Earth Minerals..

Cinovec drilling progressing well, says REM
Drilling is progressing well, said European Metals

Drilling at the Cinovec lithium-tin-tungsten project in the Czech Republic is progressing well, reported Rare Earth Minerals (LON:REM).

The work is being carried out by European Metals, in which REM has a 9.79% stake.

Cinovec is one of the largest lithium deposits in the EU. The inferred resource is 514.8 million tonnes (Mt) at 0.43% Li2O (lithium oxide) for 5.5Mt lithium carbonate equivalent (LCE).

There is also an additional exploration target of between 350 and 450Mt at 0.39-0.47% Li2O for 3.4-5.3Mt of LCE.

A second hole is in progress, while samples from a first have been sent to the lab, with results expected in the middle of November.

The drilling is aimed at supporting a conversion to the higher confidence indicated category from inferred, and previous drilling results from the company included 108.9m at 0.52% Li2O, 0.16% tin, 0.04% tungsten from 173m.

A dual listing for European Metals (ASX:EMH) in London is on track, it added.

Rare Earth Metals shares are today up 1.02% to 0.99p.

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Price: 8.125 GBX

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Market Cap: £8.57 m
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