European Metals Holdings Ltd (ASX:EMH, LON:EMH) is making good progress on a pre-feasibility study (PFS) on the Cinovec Lithium-Tin Project in the Czech Republic.
A earlier scoping study found the Cinovec deposit could be amenable to bulk underground mining. It also revealed a potential production cost of about $1,500 per tonne of lithium carbonate excluding tin and tungsten credits.
The major focus of the PFS has been on decreasing required capital and maximising cashflow in the first 5 years of the mine life.
A re-design of the mining process looks to be paying dividends and likely show a positive impact on the financial model of the project.
A revised mine plan has been designed to access the high grade lithium areas of the orebody that lie close to surface.
A third drill rig has also been mobilised on site, as part of the ongoing 7,500 metre drill program.
The drill program is specifically targeting areas of higher grade, shallow lithium mineralisation that was highlighted in the mine re-design completed as part of the PFS.
Additionally, metallurgical testwork to support the PFS is well under-way at a number of leading technology centres across the globe.
The total project resource of 5.7 million tonne of lithium carbonate equivalent renders Cinovec the largest lithium deposit in Europe and the fourth largest non-brine deposit in the world.
Within this resource lies one of the largest undeveloped tin deposits in the world, containing an estimated 178,000 tonnes of tin.
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