- European Metals (EMH) has begun measured resource drilling at the Cinovec Lithium-Tin Project in the Czech Republic
- A total of 19 holes will be drilled, totalling 5550 metres, with the first hole, CIS-18, on schedule for completion
- This program is aiming to convert a significant portion of the existing indicated mineral resource to the measured category and then to a mineral reserve
- Once this program is completed, a further four holes will be drilled and logged
- European Metals has ended the day 3.33 per cent in the green with shares trading for 31 cents
European Metals (EMH) has begun measured resource drilling at the Cinovec Lithium-Tin Project in the Czech Republic.
The Cinovec Project lies 100 kilometres northwest from Prague and is one of the largest undeveloped tin resources in the world.
A total of 19 holes will be drilled, totalling 5550 metres, with the first hole, CIS-18, on schedule for completion.
This program is aiming to convert a significant portion of the existing indicated mineral resource to the measured category and then to a mineral reserve.
Once this program is completed, a further four holes will be drilled and logged.
“It is very pleasing to be able to get back to drilling on the project. There are no COVID-19 related movement restrictions or limitations and the drilling is progressing well,” Executive Chairman Keith Coughlan said.
“The aim of the campaign is to convert the initial years mining into proven reserve category. Following consultations with potential lenders, we expect that this will assist greatly in the securing of more attractive debt finance for the project once we enter that stage of operations,” he added.
European Metals has ended the day 3.33 per cent in the green with shares trading for 31 cents each in a $46.95 million market cap.