European Lithium Ltd (ASX:EUR, OTCQB:EULIF) has upgraded the Wolfsberg Lithium Project’s total measured, indicated and inferred resources by 11% to 12.9 million tonnes at 1% lithium oxide after finalising the resource estimation based on the infill drilling program in Zone 1.
An increase in resources means an extension of mine life from what was previously announced in the pre-feasibility study (PFS).
The drilling program was designed as infill exploration, which focused on the area of the previous inferred resources.
No holes were drilled outside this area as extensional exploration, therefore, inferred mineral resources are based on short distance extrapolation of the identified veins beyond the limits of drilling.
Only mineralised pegmatite intersections exceeding 0.5 metres width are included in the resource estimate.
Intersection grade is calculated as the length weighted grade across the vein, assuming a minimum width of 2 metres.
Extension of mine life
European Lithium chairman Tony Sage said: “These results are another step in the right direction for the Wolfsberg project.
“An increase in resources means an extension of mine life from what was previously announced in the PFS.”
Upside potential
Strong upside potential exists as numerous pegmatite intersections were not assigned to dedicated veins and therefore have not been included in any resource estimation to date.
Although the geological continuity hypothesizes a certain extension of those samples, the relation between the individual pegmatite intersections has not been determined as yet and therefore has been excluded from any resource.
Investigation of the potential for estimation and reporting of additional mineralisation is under consideration.
Mineral resources
The total measured, indicated and inferred mineral resources includes the previously announced estimate of 9.7 million tonnes grading 1.03% lithium oxide in the measured and indicated resource category and the current updated inferred resource estimate of 3.1 million tonnes grading 0.90% lithium oxide.
All cells within the wire-framed mineralisation have been reported as resource with no cut-off grade for lithium oxide used in resource reporting.
Assignment of mineralisation versus unmineralised material was done as part of the sectional interpretation using a minimum mineralised thickness of 0.5 metres for sampling.
Earlier in November, the company upgraded the Wolfsberg Project’s measured and indicated resource from 6.3 million tonnes at 1.17% lithium oxide to 9.7 million tonnes at 1.03% lithium oxide following targeted drilling.
This is an increase of nearly 54% from the previous resource, with further upside potential from existing exploration targets already identified along strike and in Zone 2.