European Metals Holdings Ltd (LON:EMH) has been granted an extension to the exploration licence that covers the two granted Preliminary Mining Permits at its Cinovec lithium project in the Czech Republic.
The granted PMPs convey the sole and exclusive rights upon the company to apply for a Final Mining Permit, but do not allow for further drilling.
As the company wishes to conduct further metallurgical and measured resource drilling, the extension to the exploration license that was due to expire in July 2019 was sought.
The licence has now been extended until 31 December 2020.
Cinovec hosts a globally significant hard rock lithium deposit with a total indicated resource of 372.4mln tonnes grading 0.45% Li2O and 0.04% tin, and an inferred resource of 323.5mln tonnes grading 0.39% Li2O and 0.04% tin, for 7.18mln tonnes lithium carbonate equivalent.
This makes Cinovec the largest lithium deposit in Europe, the fourth largest non-brine deposit in the world and a globally significant tin resource.