European Metals Holdings posts more positivity from Cinovec

European Metals Holdings announced analytical results for the final three drill holes completed under the recently-completed drilling programme at the Cinovec Main sector on Friday.

The AIM-traded firm said a revision of the resource model was now underway, and will form the basis of the soon-to-be-completed preliminary feasibility study.

It anticipated the resource model would be finalised and announced before the end of February.

Analytical results for further three drill holes at Cinovec Main confirmed or exceeded the expected lithium content and mineralisation width, the board said.

Drill holes CIW-25, CIW-27 and CIW-06 are located in a central part of the deposit, filling a gap between the western edge of the Cinovec deposit and the historic vein deposit Cinovec-Central.

The board said hole CIW-25 contains the company's longest Li intercept to date of 361.5m averaging 0.43% Li2O, including a high-grade Li interval of 14.7m averaging 0.93% Li2O.

It also reported significant intervals of Sn and W, with 2m @ 1.67% Sn and 0.216% W and 2m @ 0.76% Sn and 0.319% W.

Hole CIW-27 retuned a Li intercept of 235m averaging 0.49% Li2O, incl. high grade zones of 14m @ 0.97% Li2O and 2m @ 1.79%Li2O, while hole CIW-06 intercepted a Li interval of 258.5m averaging 0.44% Li2O, containing high grade intercepts of 3m @ 1.11% Li2O, 2.75m @ 0.91% Li2O and 2m @ 1.03% Li2O.

The updated drill database and geologic model for Cinovec had been completed and provided to Widenbar and Associates, EMH confirmed.

It said the block model will be updated within the next fortnight, as all the analyses of core from the drilling programme have been received.

“I am very pleased to report results from the last three drill holes from the 2016 drilling programme at Cinovec Main,” said CEO Keith Coughlan.

“These results continue to either confirm or exceed our expectations with regards to lithium content and mineralisation width.”

Coughlan said the sheer size of Cinovec was highlighted by the 361m intercept, which he said is in a league of its own in the lithium space.

“I am also pleased to report that we have completed the geologic model to a high degree of accuracy and that we have commissioned Widenbar and Associates to upgrade the resource estimate for the PFS study.

“I am looking forward to receiving and reporting these results in the near future.”