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European Metals lifted as it begins drilling campaign at Cinovec

The AIM-listed miner said the first hole of the drilling programme, CIS-10, had been completed at 340 metres, with a total of eight holes to be drilled

Mining drill
The drilling is aiming to convert a portion of the indicated mineral resources to measured resources

European Metals Holdings Limited (LON:EMH) saw its shares tick upwards in early trading Monday at it commenced a drilling campaign at its Cinovec Lithium-Tin project in the Czech Republic.

The AIM-listed miner said the first hole of the drilling programme, CIS-10, had been completed at 340 metres, with a total of eight holes to be drilled in the campaign for 2,560 metres.

READ: European Metals shares lifted as it updates on Cinovec project

The company added that geophysical logging of the first four geotechnical drill holes at the proposed mine portal site had been completed, with five more geotechnical drill holes planned once resource drilling had finished.

The drilling is aiming to convert a sufficient portion of the existing indicated mineral resources at the site to the measured resource category that will cover the first two years of EMH’s scheduled mining plan.

Keith Coughlan, managing director of European Metals, said the campaign would provide an upgrade to Cinovec’s existing resources, adding that they looked forward to being able to release the results of their lithium hydroxide, the final product, option study.

Shares were up 2% at 25.2p.

Quick facts: European Metals Holdings

Price: 16.5 GBX

AIM:EMH
Market: AIM
Market Cap: £24.88 m
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