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European Energy Metals Acquires New Exploration Licenses in Finland and Provides Exploration Update
Vancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - European Energy Metals (TSXV: F...
About this update from Grit Metals Corp.
[{"type":"text","content":"European Energy Metals Acquires New Exploration Licenses in Finland and Provides Exploration UpdateVancouver, British Columbia--(Newsfile Corp. - August 15, 2024) - European Energy Metals (TSXV: FIN) (FSE: W28) (\"European Energy Metals\" or the \"Company\") is pleased to announce that it submitted applications for five new Exploration Licenses (ELs) adding to its extensive land holdings in Finland.Five new EL applications covering 10,220 hectares (ha) were recently submitted to Finnish regulators. The new Els cover geological terrane considered highly prospective for Lithium-Cesium-Tantalum (LCT) Pegmatites in the Kaustinen region of Central Finland. The new Els augment the company's existing Nabba and Nabba 2 ELs with total EL holdings now at 15,770 ha (see Figure 1 below).The new licenses are largely contiguous with Sibanye-Stillwater/Keliber (SK) licenses, which host several LCT spodumene-pegmatite deposits with published resources of approximately 17 million tonnes grading 1% Li2O (SSK annual reports; Geological Survey of Finland). SK is currently constructing a complete lithium supply chain complex including a centrally located spodumene concentrator mill near Kaustinen which SK intends to truck ore to from several different deposits. The Company's licenses are within one kilometre of several known lithium rich spodumene-pegmatite deposits and within one kilometre from SKs spodumene concentrator plant.Figure 1: Finnish Exploration Licenses and TenementsTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/9006/219897_ae76923b74c2595c_001full.jpgLithium Exploration ProgramThe 2024 field program has been underway since late May and includes data compilation, detailed prospecting, geological mapping, selective trenching, ground magnetic geophysics and Base-of-Till (BoT) sampling to identify and refine targets for diamond drilling in the fall. Field crews have begun following up on the results of the 2023 exploration program where widespread lithium-rich, spodumene-bearing pegmatite mineralization was discovered. During the 2023 exploration program, crews identified multiple occurrences of lithium bearing spodumene pegmatite mineralization on the underlying Nabba Exploration Reservation, which has now been converted to an EL. The highlight was the discovery of the Kyrola Prospect,...