Rare Earth Mineral Plc (AIM: REM) advises that European Metals Holding Limited a company that REM holds a 11.87% equity interest in, has announced that drilling at the Cinovec Lithium-Tin-Tungsten Project (“the project” or “Cinovec”) in the Czech Republic continues to progress well. Two holes have been completed with assay results received for the first completed hole PSn06. The full European Metals news release dated 17 November 2015 is available at:http://europeanmet.com/assets/17_November_2015_-_Drilling_Update_UPDATED.pdf
Key Points from the Release:
· Drillhole PSn06 returns an intercept of 163m @ 0.40% Li2O from 238.5m to end of hole at 401.5m
· PSn06 twinned historic drillhole CN-51, which returned an intercept of 174.2m @ 0.43% Li2O from 233m to 407.2m
· Two holes (PSn05, PSn06) completed to date for 783.6m, with two holes (PSn01, PSn07) in progress
· Second drill rig now on site, effectively doubling the drill rate
David Lenigas, REM’s Executive Chairman, commented: “The first assay results from the resource upgrade drill programme at the Cinovec Lithium-Tin-Tungsten deposit has returned a significant intercept and is in line with expectations based on results for historic drillhole CN-51. The drilling programme is being accelerated with the addition of a second rig and I look forward to providing regular updates in due course.”
Lithium Classification and Conversion Factors:
Lithium grades are normally presented in percentages or parts per million (ppm). Grades of deposits are also expressed as lithium compounds in percentages, for example as a per cent. lithium oxide (Li2O) content or per cent. lithium carbonate (Li2CO3) content.
Lithium carbonate equivalent (“LCE“) is the industry standard terminology for, and is equivalent to, Li2CO3. Use of LCE is to provide data comparable with industry reports and is the total equivalent amount of lithium carbonate, assuming the lithium content in the deposit is converted to lithium carbonate, using the conversion rates in the table included further below to get an equivalent Li2CO3 value in per cent. Use of LCE assumes 100% recovery and no process losses in the extraction of Li2CO3 from the deposit.
The standard conversion factors are set out in the table below:
Table: Conversion Factors for Lithium Compounds and Minerals
|
Convert from |
Convert to Li |
Convert to Li2O |
Convert to Li2CO3 |
|
|
Lithium |
Li |
1.000 |
2.153 |
5.323 |
|
Lithium Oxide |
Li2O |
0.464 |
1.000 |
2.473 |
|
Lithium Carbonate |
Li2CO3 |
0.188 |
0.404 |
1.000 |
