European Metals Holdings (ASX:EMH) announced it has started a follow-up drill program at its Cinovec Tin project in the Czech Republic, Europe. Three holes will be drilled which should provide the company with some samples for metallurgical test work. A first scoping study is expected in the first quarter of 2015.
Cinovec is a past-producing project and over 20 kilometers of underground drives have been constructed at the project. There currently is an inferred resource estimate of 28 million tonnes at 0.37% tin and 0.04% tungsten. This might sound low, but as the rock value is approximately $100/t the grade is very decent. Additionally, the Cinovec project hosts a resource estimate of almost 37 million tonnes at 0.8% Lithium.
It can be difficult to get projects permitted in the Czech Republic, but as the Cinovec project is a past-producing asset, the permitting process should be a bit easier. As we like both tin and tungsten, we will keep an eye on further developments on this project.
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Disclosure: The author holds no position in European Metals, but will follow the progress at Cinovec. Please see our disclaimer for current positions.
