European Metals Holdings Ltd (LON:EMH) has completed its latest drill programme at the Cinovic lithium deposit in the Czech Republic.
The results will be included as a part of an upgraded resource estimate for a pre-feasibility study scheduled to be published in March.
EMH said the core drill hole programme was completed in mid-January on time and on budget and without time loss incidents.
In total 17 drill holes were drilled to a summary depth of 6,081m.
As assays from the drilling have been analysed there has been a 420% increase in the amount of resource at Cinovec, which now stands at an estimated 6.46Mt of lithium carbonate in total and significantly more in the higher certainty indicated resource category.
EMH ended the quarter to December 2016 with cash of A$2.89mln (£1.75mln).
Lithium is expected to be a key component in batteries that will help power electric cars in the future.