European Metals reports that two drillholes at the Cinovec lithium-tin-tungsten project intersected significant lithium mineralisation from less than 30m depth in both holes, the shallowest intervals to-date.
The two drillholes - CIW-19 and CIW-20 - are the most northern drilled by the company and are collared near the old main shaft.
Drillhole CIW-19 returned two main lithium-mineralised intercepts of 53.1m averaging 0.35%Li2O (25-78.1m) and 144m averaging 0.37%Li2O (85-229m), with a high-grade interval of firstname.lastname@example.org% Li2O (103-113.8m).
Drillhole CIW-20 returned three main mineralised intercepts: 98m averaging 0.35%Li2O (28-126m), 16.85m averaging 0.33% Li2O (132.15-149m) and 60m averaging 0.49%Li2O (154-214m), with the latter containing high-grade intervals of email@example.com%Li2O (160-169m) and firstname.lastname@example.org%Li2O (174-186.1m).
Significant tin and tungsten mineralization was intersected in upper part of both drillholes: email@example.com%Sn and 0.021%W, firstname.lastname@example.org%Sn and 0.015%W, email@example.com%Sn and 0.003%W and firstname.lastname@example.org%W and 0.07%Sn in drillhole CIW-19; email@example.com%Sn and 0.003%W, and firstname.lastname@example.org%Sn and 0.004%W in drillhole CIW-20.
Drilling continues in the western part of the Cinovec deposit (targeting high-grade zones near the rhyolite/granite contact) and in the central part (targeting near-surface mineralisation on the flanks of the historic underground mine). Altogether, eight drillholes have been completed this year (2,791m) with three other underway at this time.
Chief executive Keith Coughlan said: "This year's drilling programme has yielded excellent results. During the year we have continued to verify the historic drilling and also, have identified high-grade drill intersections in areas that there has been relatively little historical work.
"The shallow lithium intercepts that extend significantly beyond historical workings, combined with the substantive tin and tungsten intercepts, we believe, will have a positive effect on the economics of the project.
"With three drill rigs operating targeting high-grade zones and metallurgical test work almost complete, we look forward to updating the market as the project advances up the development curve and towards potential commercialisation."
At 9:16am: (LON:EMH) European Metals Holdings Limited Ord Npv Di share price was +0.25p at 33p