A pre-feasibility on the Cinovec project in the Czech Republic is making good progress on all fronts, lithium specialist Rare Earth Minerals (LON:REM) reported today.
REM owns 16.4% of European Metals Holdings Limited (LON:EMH), which is developing the project with a target of an initial production rate of 20,000 tonnes annually of lithium carbonate.
European Metals has put a third drill rig on site, while metallurgical testwork is being carried out at a number research centres.
A possible re-design to focus on the high grade areas to boost the economics of the project is also looking promising, it said.
Kiran Morzaria, chief executive of REM, said: "These are exciting times in the development of the Cinovec project the progress being mined across all disciplines is highly encouraging for the future development of this strategic European lithium and tin asset.”