Business
Cinovec Lithium Project - Update
Cinovec Lithium Project - Update.
About this update from Cadence Minerals Plc
[{"type":"text","content":"\n \nRNS Number : 7592O Rare Earth Minerals PLC 11 February 2016 \n\nRare Earth Minerals Plc.\n(\"Rare Earth Minerals\", \"REM\" or \"the Company\")\nCinovec Lithium Project - Higher Grade, Shallow Lithium Zones Defined \n \nRare Earth Mineral Plc (AIM: REM) advises that European Metals Holding Limited (\"European Metals\"), a company that REM holds a 11.87% equity interest in, has announced that that as part of its development of the Cinovec lithium / tin deposit, it has completed a detailed geological model which has identified shallow, higher grade lithium zones. This geological model will be used, along with recent drill results to update the current mineral resource model and allow the company to investigate targeting these areas in the early years of development. The full European Metals news release dated 11 February 2016 is available at: \nhttp://europeanmet.com/assets/11_February_2016_-_EMH_Geological_Model_-_Final.pdf\nKey Points from the announcement:\n· The geological model shows that higher grade lithium mineralisation is hosted preferentially in greisens.\n· The most substantial greisens are developed on the western side of the deposit and have a gentle plunge from surface to the south\n· The geological model will be used to:\n§ refine/constrain the existing block model for the Li, Sn and W resource \n§ allow for the likely conversion of a greater part of the Cinovec resource from Inferred to Indicated category under JORC guidelines.\n§ allow for initial mine planning and scheduling as the Company progresses the project along the development curve.\n· Assay results for next two drill holes due imminently\nREM's Chief Executive Officer, Kiran Morzaria, commented: \n\"The identification of shallow higher grade material at the Cinovec deposit, we believe, is important for the long term development plan of the project. Scheduling these early within the potential mine plan would have a positive effect on the economics of the project. We look forward to updating the market as this project develops, and with the previously published Scoping Study revealing a potential production cost of approximately $800 per tonne of lithium carbonate, including tin and tungsten credits, the Cinove...