European Lithium Ltd (ASX:EUR, OTCQB:EULIF)’s joint venture (JV) partner EV Resources Ltd has contracted Austrian geological consultants, GEO Unterweissacher GmbH, to execute an exploration strategy for the Weinebene and Eastern Alps lithium projects in Austria.
EUR holds a 20% interest in these Austrian lithium projects, which are adjacent to European Lithium’s Wolfsberg Project – offering the potential to jointly explore and develop the projects.
The company believes mineralisation from Wolfsberg’s 12.88-million-tonne JORC deposit (1.00% lithium oxide) continues along strike into the Weinebene project area.
For this reason, the two companies entered into a collaboration agreement, which includes the establishment of a technical advisory committee to jointly develop the projects and sharing information to identify the best options to advance these assets and operations.
“Good potential for lithium mineralisation”
“The collected information will support the definition of target areas and future promising drill hole locations,” EV Resources executive director Adrian Paul said.
“The outcome of this step in the strategy is a map containing exploration areas for soil geochemistry and/or a possible drill hole program.
“Previous reviews indicate good potential for lithium mineralisation, with various results up to more than 3% lithium oxide. We look forward to the geological review identifying areas for further assessment.”
GEO Unterweissacher, the team of geological consultants managing the exploration program, is an engineering organisation focused on geology and geotechnics headquartered in Tyrol, Austria, and known for their expertise and modern-scientific standards.
The JV partners will use the report produced by GEO Unterweissacher to action a drilling program on the satellite projects, based on the results.
All results and lab samples are expected by the end of July this year, depending on the laboratory turnaround times.