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European Metals Holdings Limited Encouraged by the higher than expected tin grades

European Metals Managing Director Keith Coughlan commented “We are very pleased to present these results. The current drill programme has been planned to define blocks of resource for the first 2 years of mining within the Cinovec-South area, with a goal to convert the resource from indicated to measured category to allow the delineation of initial proven reserves for the deposit. The results confirm our confidence in the robustness of the ore body and we are particularly encouraged by the higher than expected tin grades in hole CIS-13.

These holes form part of the feasibility study that is now underway. The study includes the production of lithium hydroxide from bench scale work that is in process and due for completion next month. At that point the Company expects to be able to release the updated PFS results.”

European Metals Holdings Limited (LON:EMH) today announced initial results from its current eight core-hole resource drilling programme at the Cinovec Project as detailed. The current programme of work was announced by the Company 5 November 2018 (Resource Drilling Commenced – Geotechnical Studies Continue). Drilling of five of the eight holes has been completed. Drilling activities have been suspended and will resume after the end of the snow season. Analytical results for four of the drill holes from the Cinovec South deposit are reported.

Key points:
· Resource drill holes CIS-10, CIS-11, CIS-12 and CIS-13 have been completed including analytical reports.

· Resource drill hole CIS-14 has been drilled with analytical results pending.

o Hole CIS-11 returned 129.3m averaging 0.51% Li2O, incl. 2m @ 0.93% Li2O, 2m @0.93% Li2O; 5m @ 0.56% Sn and 0.11% W, 5m @ 0.21% Sn, and 7m @ 0.11% Sn.

o Hole CIS-13 returned 108m averaging 0.45% Li2O and 0.11% Sn, incl. 4m @ 0.99% Li2O; 6m @ 0.29% Sn, 5m @ 0.34% Sn, 3m @ 0.77% Sn and 0.12% W, and 2m @ 1.03% Sn, incl. 1m @ 1.92% Sn.

o Hole CIS-10 returned 89m averaging 0.47% Li2O, incl. 6m @ 1.02% Li2O and 6m @ 0.91% Li2O; 5m @ 0.26% Sn, 5m @ 0.14% Sn, and 7m @ 0.077% W.

o Hole CIS-12 returned 93m averaging 0.48% Li2O, incl. 2m @ 1.32% Li2O, 2.4m @ 1.17% Li2O and 3m @ 1.08% Li2O; 8m @ 0.83% Li2O and 0.18% Sn, 4m @ 0.13% Sn, and 5m @ 0.16% W.

 

Mineralized Intercepts and Lithology

Holes CIS-10, 11, 12 and 13 were all collared in rhyolite. Rhyolite / granite contact was achieved at a depth of 211.7m in CIS-10, 182.7m in CIS-11, 190.9m in CIS-12 and 192.6m in CIS-13. Below the contact variably altered Li-granite was intersected, whilst the dominant alteration style is medium to intensive greisenisation with several greisen zones observed.

Mineralization starts immediately below the rhyolite/granite contact with several minor Li and Sn intervals. The major mineralised intercepts are 89m @ 0.47% Li2O (CIS-10), 129.3m @ 0.51% Li2O (CIS-11), 93m @ 0.48% Li2O (CIS-12) and 108m @ 0.45% Li2O (CIS-13). The intervals were calculated at a 0.2% Li2O cut-off, with a maximum internal waste of 4m.

The upper portion of the altered granite is also characterized by elevated Sn values. If no Sn cut-off is considered, the Sn interval is 72.3m @ 0.082% Sn in CIS-10, 95m @ 0.090% Sn in CIS-11, 89.7m @ 0.069% Sn in CIS-12 and 84m @ 0.136% Sn. Below these intervals the Sn grades decrease. Nevertheless, another 7m thick interval with higher W and elevated Sn grades was intersected in a deeper part of hole CIS-10 (see more details in 2 and 3).

Total drilled depth of hole CIS-10 was 340m, hole CIS-11 was ended at 329.3m, hole CIS-12 at 325m and hole CIS-13 at 315m. All holes have been terminated in Li ore and not in the underlaying low-mica granite which is considered to be the footwall of the Li-granite.

The drill hole results are very similar to predictions from the current geological model demonstrating the quality and robustness of the company’s geological and resource model. Lithological intervals, incl. rhyolite / granite contact and zones of alteration, were intersected where predicted with a high level of accuracy. Also, the Li, Sn and W grades measured correspond to the block model.

These assays have been tested externally by independent ALS Global.

Table 2: Mineralized intercepts in hole CIS-10.

CIS-10

From

To

Interval (m)

Determining element

Li2O (%)

Sn (%)

W (%)

Note

211.7

220

8.3

Li2O

0.24

0.05

0.004

217

218

1

Sn

0.18

0.18

0.002

225

236

11

Li2O

0.32

0.18

0.008

227

230

3

Sn

0.50

0.39

0.022

incl. 1m @ 0.59% Sn, 0.70% Li2O, 0.06% W (227-228m)

234

235

1

Sn

0.61

0.66

0.006

241

340

89

Li2O

0.47

0.02

0.016

incl. 6.0m @ 1.02% Li2O (286-292m), 6.0m @ 0.91% Li2O (308-314m)

243

248

5

Sn

0.49

0.26

0.024

incl. 1m @ 0.65% Sn (246-248m)

275

280

5

Sn

0.39

0.14

0.044

331

338

7

W

0.43

0.02

0.077

incl. 1m @ 0.24% W (331-332m)

Cut-off: 0.2%Li2O, 0.1%Sn, 0.05%W

Table 3: Mineralized intercepts in hole CIS-11.

CIS-11

From

To

Interval (m)

Determining element

Li2O (%)

Sn (%)

W (%)

Note

182.5

190

7.5

Li2O

0.24

0.02

0.002

200

329.3

129.3

Li2O

0.51

0.07

0.018

incl. 2m @ 0.93% Li2O (259-261m), 2m @ 0.93% Li2O (281-283m)

201

208

7

Sn

0.32

0.11

0.01

213

218

5

Sn

0.47

0.21

0.005

224

225

1

Sn

0.51

0.15

0.02

228

230

2

Sn

0.51

0.15

0.02

234

239

5

W

0.64

0.06

0.06

243

244

1

Sn

1.01

0.32

0.01

257

258

1

W

0.59

0.02

0.07

268

273

5

Sn

0.60

0.56

0.11

276

277

1

Sn

0.48

0.17

0.04

278

279

1

W

0.51

0.01

0.10

282

283

1

W

1.15

0.04

0.08

285

288

3

Sn

0.48

0.15

0.03

293

295

2

Sn

0.49

0.15

0.01

325

326

1

W

0.64

0.01

0.05

Cut-off: 0.2%Li2O, 0.1%Sn, 0.05%W

Table 4: Mineralized intercepts in hole CIS-12.

CIS-12

From

To

Interval (m)

Determining element

Li2O (%)

Sn (%)

W (%)

Note

222.3

225

2.7

Li2O

0.71

0.07

0.006

232

325

93

Li2O

0.48

0.06

0.020

incl. 0.9m@1.0% Li2O, 0.43%Sn (236.7-237.6m); 2m@1.32Li2O (251-253m); 2.4m@1.17%Li2O (284.6-287m); 1m@1.52%Li2O (285-286m); 3.0m@1.08%Li2O (291-294m); 1m@1.52%Li2O (293-294m)

246

254

8

W

0.83

0.18

0.066

265

266

1

Sn

0.44

0.93

0.005

273

277

4

Sn

0.41

0.13

0.006

307

312

5

W

0.65

0.10

0.161

incl. 1m@1.21%Li2O, 0.36%W (311-312m)

Cut-off: 0.2%Li2O, 0.1%Sn, 0.05%W

Table 5: Mineralized intercepts in hole CIS-13.

CIS-13

From

To

Interval (m)

Determining element

Li2O (%)

Sn (%)

W (%)

Note

223

331

108

Li2O

0.45

0.11

0.012

incl. 4m@0.99%Li2O (273-277m)

225

226

1

Sn

0.84

0.16

0.002

236

239

3

Sn

0.36

0.18

0.003

249

255

6

Sn

0.69

0.29

0.040

incl. 1m@0.11%W (251-252m)

259

260

1

Sn

0.28

0.11

0.005

269

271

2

Sn

0.80

1.03

0.013

incl. 1m@1.92%Sn (270-271m)

276

281

5

Sn

0.70

0.34

0.017

286

289

3

Sn

0.43

0.77

0.121

295

296

1

Sn

0.60

0.17

0.009

302

303

1

Sn

0.36

0.12

0.022

307

309

2

Sn

0.37

0.16

0.014

Cut-off: 0.2%Li2O, 0.1%Sn, 0.05%W
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