REM updates on drillholes at Cinovec

Rare Earth Mineral said European Metals Holdings, in which it owns a 20.92% stake, has announced analytical results for two confirmation drillholes CIW-19 and CIW-20 at the Cinoved Lithium-Tin-Tungsten Project.


- The two drillholes are the most northern drilled by the Company and are collared near the old main shaft.

- Significant lithium mineralization intersected from less than 30m depth in both holes, these are the shallowest intervals to-date.

- Drillhole CIW-19 returned two main lithium-mineralized 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 10.8m@0.71% Li2O (103-113.8m).

- Drillhole CIW-20 returned three main mineralized 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 9m@0.67%Li2O (160-169m) and 12.1m@0.85%Li2O (174-186.1m).

- Significant tin and tungsten mineralization was intersected in upper part of both drillholes: 3.1m@0.20%Sn and 0.021%W, 4.75m@0.13%Sn and 0.015%W, 2.45m@0.17%Sn and 0.003%W and 1.35m@0.122%W and 0.07%Sn in drillhole CIW-19; 3m@0.37%Sn and 0.003%W, and 1m@0.36%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 mineralization 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.

At 9:37am: (LON:REM) Rare Earth Minerals PLC share price was 0p at 0.67p