Business
3rd Quarter Results
3rd Quarter Results.
About this update from European Metals Holdings Ltd
[{"type":"text","content":"\n \n \n \n RNS Number : 7321Q\n European Metals Holdings Limited\n 29 October 2021\n \n \n \n \n \n \n \n For immediate release\n \n \n 29 October 2021\n \n \n EUROPEAN METALS HOLDINGS LIMITED\n \n \n QUARTERLY ACTIVITIES REPORT - SEPTEMBER 2021\n \n \n European Metals Holdings Limited\n \n \n \n (\n \n Company\n \n )\n (ASX & AIM: EMH, OTC - Nasdaq Intl ADS: EMHXY) (\"European Metals\" or the \"Company\") is pleased to provide an update on its activities during the three-month period ending 30 September 2021 highlighting the continued progress in the development of the globally significant Cinovec Lithium/Tin Project (\n \n \"the Project\" \n \n or\n \n \"Cinovec\"\n \n )\n in Czech Republic. \n \n \n The quarter was marked by a significant resource upgrade following an extensive drilling programme and considerably higher prices for the Project's two key metals, lithium, and tin. \n \n \n RESOURCE UPGRADE AT CINOVEC LITHIUM PROJECT \n \n \n The Company completed a drilling campaign during the quarter at Cinovec South, comprising 22 diamond drill core holes for 6,622 metres. The drilling programme has been systematically undertaken over the year with the primary aim to convert a larger part of the resource to higher JORC classification.\n \n \n Independent expert Lynn Widenbar of Widenbar and Associates updated the Mineral Resource Estimate of the Cinovec Project, which has been prepared and reported in accordance with the 2012 Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code (2012)). \n \n \n The additional information resulted in an upgrade of some 28.5 million tonnes (MT) of Inferred Resources to Indicated Resources and the increased drilling density in the southern area has allowed the re-classification of 53.3MT of Indicated material to the Measured category. The total Measured, Indicated and Inferred Resources have increased by 12.3MT to 708.2MT.\n \n \n \n \n \n The contained lithium in the resource increased from 7.2 Mt to 7.39 Mt LCE.\n \n \n The Cinovec Project remains a potential low operating cost, hard rock lithium hydroxide or lithium carbonate producer, due to a number of key advantages:\n \n \n \n By-product credits from the recovery of tin, tungsten, potash and sodium sulphate; \n \n \n Paramagnetic properties of zinnwald...