European Metals (ASX:EMH) has announced an updated resource estimate at its Cinovec project in the Czech Republic. The company was able to grow the lithium resource to in excess of half a billion tonnes at an average grade of 0.3% Lithium for a total resource of 5.5 million tonnes Lithium Carbonate Equivalent.
There’s more good news as the company expects it will be able to grow the resource even further as its updated exploration target is calling for an additional 350-450 million tonnes of ore to be added to the resource estimate at an average grade of 0.39-0.47% LCE. This could increase the total amount of contained lithium by 3.5-5.3 million tonnes.
It will be very interesting to see the outcome of the scoping study on the Cinovec project as it definitely has the potential to be an interesting lithium and tin producer.
> Click here to go to European Metals’ website
Disclosure: The author holds no position in European Metals. Please see our disclaimer for current positions.
