European Lithium Ltd (ASX:EUR, OTCQB:EULIF) is encouraged by today’s announcement by its partner, battery metals explorer EV Resources, outlining its Austrian lithium exploration and evaluation strategy.
EVR has announced the appointment of Austrian geological consultants, GEO Unterweissacher GmbH, to advise on an exploration strategy for lithium projects in Austria in which EUR holds a 20% stake.
Austrian geological expertise
GEO Untereeissacher is a geology and geotechnic engineering organisation headquartered in Tyrol, Austria, with a reputation for expertise and modern-scientific standards. It has reviewed and advised on geological evaluation programs across six other projects that EVR holds in Austria.
The organisation has reviewed all the relevant data and samples to recommend an appropriate drilling program to test pegmatite mineralisation at the Weinebene Project.
A working group convened by EUR and EVR will consider GEO Untereeissacher’s findings and action a diamond drilling program to extend the Wolfsberg mine and strategic satellite projects, based on two suggested options.
Potential for expansion
Executive chairman Tony Sage commented: “The efforts of our partner, EV Resources, to action a drilling program for Weinebene is very positive for our direct interest in the project and the potential of an expansion to known lithium resources in the region.”
Drilling tenders have been issued for the program and consultants will commence negotiations with landowners to grant permitting and access to the projects, along with mobilisation.
Permitting is expected to take eight to 12 weeks to complete, with the drill program expected to take eight to 10 weeks once underway.
“The expert advisors have reviewed the data and proposed a drilling program for Weinebene that has the potential to significantly extend the Wolfsberg mine,” Executive director Adrian Paul said.
“We intend to work with our partners and stakeholders to commence the permitting process as soon as practicable The other projects reviewed by the expert consultants indicate good potential for lithium mineralisation, with various results up to >3% lithium oxide. We look forward to the geological review identifying areas for further assessment.”
EUR advises that engineering firm DRA has informed the company that it will provide an update regarding the definitive feasibiility study (DFS) associated with the Wolfsberg Lithium Project later today.
About the Weinebene and Eastern Alps Lithium projects
These projects are immediately adjacent to European Lithium’s Wolfsberg deposit, where EUR’s partner EV Resources contends that the veins which comprise the JORC compliant 10.98 million tonnes @ 1.00% lithium oxide resource at the Wolfsberg deposit strike into the Weinebene project area.
The proximity of the Weinebene and Eastern Alps Projects to European Lithium’s Wolfsberg Project creates substantial optionality and potential synergistic development and production scenarios for both parties.