Good news will just keep coming for holders of EUR..................
European Lithium hits 10-metre intersection in Zone II, nearly double the widest intersection of Zone I
15:35 29 Mar 2018
Preliminary drill results reveal Zone II's lithium resource expansion potential for Wolfsberg.
The company also expects to release the PFS to the market next Thursday
European Lithium Ltd (
ASX:EUR) completed its Zone II drilling program earlier this week at the Wolfsberg Lithium Project in Austria.
The program comprised five holes totalling 1,329 metres of diamond drilling with assay results expected mid-April.
10-metre intersection highlights Wolfsberg’s growth potential
All five holes showed numerous pegmatite intersections with one measuring 10.0 metres true width.
By comparison, the widest intersection seen in Zone I was 5.5 metres.
Geological evidence continues to build supporting the notion that Zone II can host significant lithium resources that can materially increase Wolfsberg’s future mine life.
READ: European Lithium assays confirm Zone II resource potential
Three drill holes completed in June 2017 first confirmed wide high-grade pegmatite veins in Zone II at Wolfsberg.
Notably, the current measured and indicated resource of 6.3 million tonnes at 1.17% lithium oxide for Wolfsberg is based solely on drilling on the northern limb of an anticline.
Geological interpretation suggests that the lithium-bearing pegmatite veins should continue to the southern limb of the anticline.
Pre-feasibility study expected from consultant this week
The company expects to receive the pre-feasibility study (PFS) on the Wolfsberg Lithium Project from its consultant before the end of this week.
The company will endeavour to complete their review and release the results of the PFS by April 5, 2018.
Upcoming drilling at Zone I looking to extend mine life
A new drilling program is planned in Zone I with the aim of converting Inferred resources into the Indicated JORC category.
The program will consist of 31 holes for 11,330 metres.
Of these 31 holes, three will be for geotechnical analysis of the proposed location of the underground crushing and ore sorting plant.
Drilling permits are expected by the end of April 2018 and it is expected that mobilisation can take place in May 2018.
Results from the program are expected to be included in the project definitive feasibility study (DFS).
http://www.proactiveinvestors.com.a...e-pre-feasibility-study-this-week-193981.html
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