Company
ASX:EUR
European Lithium Ltd (ASX:EUR) is listed on the Australian Securities Exchange.
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It has signed a multi-tiered non-binding Memorandum of Agreement with Traxys to support the development and commercialisation of the Wolfsberg Project.
Importantly, the results demonstrate high-quality, battery-grade lithium product can be produced from Wolfsberg with very low impurities.
The increase in resources means an extension of mine life from what was previously announced in the pre-feasibility study (PFS).
“We believe that providing a convenient and transparent trading platform for US investors to directly access our shares will improve liquidity and broaden awareness of the company among mature and sophisticated investors with strong interes
“We are excited to formally establish the Technical Advisory Committee and commence our collaborative efforts with our partner Jadar to maximise and potentially grow the resource at Wolfsberg,” Tony Sage said.
The company has increased the measured and indicated resource at the Wolfsberg Project to 9.7 million tonnes at 1.03% lithium oxide and agreed to buy back a legacy €1.50 royalty per tonne of mineral extracted, thereby further improving the
The two Ukrainian projects are Shevchenkivske and Dobra, which are considered underexplored by modern exploration methods and contain significant exploration targets based on historical data.
"We’re pleased to confirm the experienced team at DRA are leading the DFS for the company. We have confidence in the team who have undertaken the PFS process and have appropriate knowledge and experience with the Wolfsberg Lithium Project,”
European Lithium is poised to list on the US OTC as EULIF, with its 100% owned Wolfsberg Lithium Project's Definitive Feasibility Report due end of Q1, 2022.
Carter is experienced in structuring corporate transactions, focusing on junior resource companies, and has worked in ongoing corporate advisory roles with numerous ASX listed entities over the last 18 years.
“It is an excellent performance by all partners working on the drilling program to achieve the highly promising outcome as part of our Definite Feasibility Study (DFS),” says CEO Dietrich Wanke.
“It's fantastic to get support from institutional investors and to also have the funds necessary to finalise the DFS,” says chairman.
The aim of the infill drilling program is to increase the existing JORC reserves for the Definitive Feasibility Study (DFS) and to show extensions of the ore body for future drilling programs at the Project.
The company aims to be the first local lithium hydroxide supplier in the European battery supply chain with production from its Wolfsberg Lithium Project expected to commence in 2023.
The company is committed to developing the advanced Wolfsberg Lithium Project in Austria with a focus on sustainable green operations to the highest European standards.
“We are convinced that we will achieve our ambitious aim to become one of the first battery-grade lithium producers in Europe,” says CEO.
The proximity of the Weinebene and Eastern Alps projects to Wolfsberg creates optionality and potential synergistic development and production scenarios for both parties.
A second rig is due to start early next month as part of an extensive program aimed at upgrading and increasing resources.
The company expects the drilling program will increase the resources at Wolfsberg - which would further strengthen the project’s economics.
The drilling program is intended to upgrade inferred resources of 4.68 million tonnes to the JORC-compliant measured and indicated categories so that the total 10.98-million-tonne resource can be included in the mine planning process.
