EUROPEAN METALS HOLDINGS LIMITED: Drill Programme Completed & Czech and Appointment of Czech Country Manager

(firmenpresse) -
DRILL PROGRAMME COMPLETED AND APPOINTMENT OF CZECH COUNTRY MANAGER

European Metals Holdings Limited (European Metals or the Company) (ASX and AIM: EMH) is pleased to announce that the planned core drillhole programme was completed on time and budget, without time loss incidents. In total 17 drillholes were drilled to a summary depth of 6081 meters. Analytical results for the CIW-10 and CIW-23 are reported in this announcement.
The Company is also pleased to announce the appointment of a highly experienced mining executive to the role of Country Manager.
Key Points:
- Analytical results for further two drillholes at Cinovec Main confirmed or exceeded the expected lithium content and mineralization widths.

- One drillhole is located at the western edge of the deposit near the contact of the mineralisation. The other drillhole is located in the central part of Cinovec Main. This hole has returned the best lithium interval to date.

- Hole CIW-23 recorded an interval of 261.1m averaging 0.50%Li2O (including high-grade intervals 23.9m(at)0.81%Li2O, 8m(at)1.05%Li2O, 4m(at)1.17%Li2O, 4m(at)1.41%Li2O, and 6m(at)0.95%Li2O. In addition, significant tin and tungsten mineralisation is recorded: 11 meters averaging 0.081% tungsten, 5 meter averaging 0.14% tin and 1 meter averaging 1.2% tin, and 2 meters averaging 0.088% tungsten.

- Hole CIW-10 reported an intercept of 223.9m averaging 0.43% Li2O.

- All core samples for the remaining 4 holes have been delivered to the analytical laboratory with results expected to be delivered by the end of January.

- Geological information from all 17 drillholes has been compiled into the Cinovec database and serves to update the geological model for Cinovec Main. The geologic model will be used to constrain and update the current block model. The block model will be updated in early February when all analyses will be received. The block model and resource calculation will be part of the Pre-Feasibility Study planned for release in April 2017.

- The Company welcomes the appointment of Mr Richard Pavlik to the position of General Manager of the Companys Czech subsidiary Geomet s.r.o.

Geomet holds the licences for the Companys 100% owned Cinovec Project in the Czech Republic. Mr Pavlik holds a Masters Degree in Mining Engineer from the Technical University of Ostrava in Czech Republic. He is the former Chief Project Manager and Advisor to the Chief Executive Officer at OKD. OKD has been a major coal producer in the Czech Republic. He has almost 30 years of relevant industry experience in the Czech Republic. Mr Pavlik also has experience as a Project Analyst at Normandy Capital in Sydney as part of a postgraduate programme from Swinburne University.

Mr Pavlik has held previous senior positions within OKD and New World Resources as Chief Engineer, and as Head of Surveying and Geology. He has also served as the Head of the Supervisory Board of NWR Karbonia, a Polish subsidiary of New World Resources (UK) Limited. Mr Pavliks primary responsibilities will be to manage the in-country aspects of the Cinovec development programme, coordinate technical work and liaise with Government authorities on permitting and licensing of the project.

European Metals CEO Mr Keith Coughlan said: I am very pleased that we have finished the drilling programme on time and without any accidents. These latest results highlight the substantial mineralisation at Cinovec and the opportunities available to target higher grade areas within these zones.

When all results are received, we will upgrade the block model and finalise the resource estimate for the Pre-feasibility study. We expect further conversion of inferred to indicated resources to occur as part of this re-modelling.

I would also like to welcome Richard Pavlik as our Country Manager. Richard has extensive experience in the Czech Mining Community and will be a huge asset in providing in-country knowledge and capability during the feasibility, permitting and development process.

Drill Programme

The CIW-10 and CIW-23 were drilled at the western edge, and in the central part, respectively, of the Cinovec Main sector of the deposit (see Figure 1).

The current drill programme at Cinovec Main has been planned to confirm and delineate near surface lithium and tin mineralisation that would provide initial feed to the mill. Other goals are the conversion of resources from the Inferred to Indicated category, and delivery of material for metallurgical testing. So far, ten diamond core holes have been completed, and three are underway. Visual inspection and logging indicates that the geology in these holes is as expected. Drill details are listed in Table 1 below.

After geological logging, drill core is cut in half with a diamond saw. Quarter core samples are selected (honouring geological boundaries) and dispatched to ALS (Romania) for preparation and assay; the 3/4 of the core is returned to the core box and stored securely on site. Samples are being prepared and analysed by ALS using ICP and XRF techniques following standard industry practice for lithium and tin deposits. Strict QAQC protocols are observed, including the insertion of a Li standard in random fashion for every 10 core samples, as well as the insertion of blank and duplicate samples..

Table 1 - Completed drillholes, Cinovec Main
Hole North East ElevatDepthAzimutDip Comments
ID ion (m) h
(m)

CIW-11-779299.-966097867.40444.440.10 -77.86confirmati
50 .50 on/infill

CIW-20-778810.-965638837.50257.6336.70-84.60confirmati
50 .00 on/infill

CIW-13-779175.-966126862.80429.376.00 -80.40confirmati
50 .84 on/infill

CIW-19-778810.-965692837.80271.6332.10-89.58confirmati
80 .10 on/infill

CIW-08-778791.-965800837.60274.9156.85-89.30confirmati
39 .23 on/infill

CIW-18-779018.-966182855.47395.7210.60-89.05confirmati
59 .61 on/infill

CIW-14-779055.-966093854.46417.8323.30-89.07confirmati
85 .30 on/infill

CIW-07-778867.-965841840.99300.0333.60-89.57confirmati
31 .48 on/infill

CIW-26-779214.-965937865.33430.5248.00-89.38confirmati
82 .24 on/infill

CIW-17-778957.-965520847.07238.2332.10-89.58confirmati
07 .58 on/infill

CIW-21-778811.-965952841.33320.642.68 -89.02confirmati
80 .31 on/infill

CIW-10-779215.-965938865.35455.0303.40-74.47confirmati
43 .41 on/infill

CIW-23-779008.-965993848.91376.1222.30-89.40confirmati
92 .87 on/infill

CIW-22-779009.-965993848.88420.6287.90-70.43confirmati
34 .42 on/infill

CIW-06-778995.-965844846.77296.311.70 -80.18confirmati
26 .93 on/infill

CIW-25-778994.-965901847.04382.4281.10-69.89confirmati
45 .56 on/infill

CIW-27-779152.-965816861.50370.0271.90-89.53confirmati
42 .56 on/infill
Hole locations are recorded in the local S-JTSK Krovak grid, all coordinates are surveyed.

Mineralized Intercepts and Lithology

The drillhole CIW-10 was located near the granite-porphyry contact, testing lithium mineralization near the western termination of the deposit. In this location, at the W and NW part of the deposit, the contact is relatively steeply dipping. The CIW-10 drillhole was angled at 75 degrees to the W, and collared in the barren porphyry. At 213 m down the drill axis the porphyry-granite contact was intersected at a depth predicted by the Companys geologic model. The contact is marked by brecciated pegmatite, and immediately below it the granite is greisenized and mineralized in lithium. The interval from 213m to 429m is formed by variably greisenized granite containing 5 to 15% of zinnwaldite, the lithium-bearing mica. The footwall to the greisenized granite is a low-mica granite, in which the drillhole was terminated at 455m. The core angles of contacts are steeper than usually (about 20 to 40 degrees), and as the core was not oriented, it is impossible to ascertain with certainty the orientation of the mineralized zones. Therefore, the mineralized intercept may not represent true width.

The drillhole CIW-23 was collated in the central part of the Cinovec-Main deposit where the Cinovec lithium granite daylights. First 119m of the core are formed by sericite-albite (locally hematized). Between 116 and 119 the drill intersected a historic backfilled stope after mining high grade tin-tungsten quartz veins in the 1960s. The interval between 119m and 388.3m is formed by variably greisenized granite that carries zinnwaldite. Locally stopes, narrow quartz veins or massive greisens were intersected in this interval. The footwall to the greisenized granite is a low-mica granite, in which the drillhole was terminated at 376.1m.

The Tables below list the mineralised intercepts from all two drillholes.

Table summarizing mineralised intercepts in CIW-23
CIW-23
From To IntervaLi2O Sn W (%)Note
l (%) (%)
(m)

8.1 35.5 27.4 0.23
58 74 16 0.21
94 357 261.1 0.50 incl. 23.9m(at)0.81%Li2O
*) (117.1-141m),
8m(at)1.05%Li2O
(133-141m),
4m(at)1.17%Li2O
(162-166m),
4m(at)1.41%Li2O
(224-228m),
6m(at)0.95%Li2O (296-302m)
92 93 1 0.37 0.20 0.033
124 135 11 0.83 0.02 0.081
147 147.80.8 0.76 0.0050.115
162 164 2 1.66 0.02 0.088
243 248 5 0.47 0.14 0.022
Cut-off: 0.2%Li2O, 0.1%Sn, 0.05%W *) intercept shorter by
mined-out
cavities


Table summarizing mineralised intercepts in CIW-10
CIW-10
From To IntervaLi2O Sn W (%)Note
l (%) (%)
(m)

213.1437 223.9 0.43 incl. 1.9m(at)1.04%Li2O
(213.1-215m),
2m(at)0.99%Li2O
(306-308m),
1.05m(at)1.40%Li2O
(406.2-407.25m)

447 451 4 0.26
213.1214 0.9 1.46 0.17 0.004
331 332 1 0.38 0.18 0.002
Cut-off: 0.2%Li2O, 0.1%Sn, 0.05%W

http://www.irw-press.at/prcom/images/messages/2017/38595/20170116 - EMH Drill Program Update_kurzprcom.001.jpeg

Figure 1 - A geological map showing the Companys drill holes against surface geology and subsurface greisen bodies projected to surface (in green). Historic UG workings and drill holes not shown.

BACKGROUND INFORMATION ON CINOVEC

PROJECT OVERVIEW

Cinovec Lithium/Tin Project

European Metals owns 100% of the Cinovec lithium-tin deposit in the Czech Republic. Cinovec is an historic mine incorporating a significant undeveloped lithium-tin resource with by-product potential including tungsten, rubidium, scandium, niobium and tantalum and potash. Cinovec hosts a globally significant hard rock lithium deposit with a total Indicated Mineral Resource of 49.1Mt (at) 0.43% Li2O and an Inferred Mineral Resource of 482Mt (at) 0.43% Li2O containing a combined 5.7 million tonnes Lithium Carbonate Equivalent.

This makes Cinovec the largest lithium deposit in Europe and the fourth largest non-brine deposit in the world.

Within this resource lies one of the largest undeveloped tin deposits in the world, with total Indicated Mineral Resource of 15.7Mt (at) 0.26% Sn and an Inferred Mineral Resources of 59.7 Mt grading 0.21% Sn for a combined total of 178kt of contained tin. The Mineral Resource Estimates have been previously released on 18 May 2016. The deposit has previously had over 400,000 tonnes of ore mined as a trial sub-level open stope underground mining operation.

A Scoping Study conducted by specialist independent consultants indicates the deposit could be amenable to bulk underground mining. Metallurgical test work has produced both battery grade lithium carbonate and high-grade tin concentrate at excellent recoveries with the Scoping Study. Cinovec is centrally located for European end-users and is well serviced by infrastructure, with a sealed road adjacent to the deposit, rail lines located 5 km north and 8 km south of the deposit and an active 22 kV transmission line running to the historic mine. As the deposit lies in an active mining region, it has strong community support.

CONTACT
For further information on this update or the Company generally, please visit our website at www. http://europeanmet.com or contact:

Mr. Keith Coughlan Managing Director

COMPETENT PERSON

Information in this release that relates to exploration results is based on information compiled by European Metals Director Dr Pavel Reichl. Dr Reichl is a Certified Professional Geologist (certified by the American Institute of Professional Geologists), a member of the American Institute of Professional Geologists, a Fellow of the Society of Economic Geologists and is a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves and a Qualified Person for the purposes of the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009. Dr Reichl consents to the inclusion in the release of the matters based on his information in the form and context in which it appears. Dr Reichl holds CDIs in European Metals.

The information in this release that relates to Mineral Resources and Exploration Targets has been compiled by Mr Lynn Widenbar. Mr Widenbar, who is a Member of the Australasian Institute of Mining and Metallurgy, is a full time employee of Widenbar and Associates and produced the estimate based on data and geological information supplied by European Metals. Mr Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the JORC Code 2012 Edition of the Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Mr Widenbar consents to the inclusion in this report of the matters based on his information in the form and context that the information appears.

CAUTION REGARDING FORWARD LOOKING STATEMENTS

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as may, will, expect, intend, plan, estimate, anticipate, continue, and guidance, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the companys actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the company and its managements good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the companys business and operations in the future. The company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the companys business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the company or management or beyond the companys control.

Although the company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

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 percent lithium oxide (Li2O) content or percent 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 below to get an equivalent Li2CO3 value in percent. Use of LCE assumes 100% recovery and no process losses in the extraction of Li2CO3 from the deposit.

Lithium resources and reserves are usually presented in tonnes of LCE or Li.

To convert the Li Inferred Mineral Resource of 532Mt (at) 0.20% Li grade (as per the Competent Persons Report dated May 2016) to Li2O, the reported Li grade of 0.20% is multiplied by the standard conversion factor of 2.153 which results in an equivalent Li2O grade of 0.43%.

The standard conversion factors are set out in the table below:

Table: Conversion Factors for Lithium Compounds and Minerals
Convert from Convert Convert to Convert to Li
to Li 2
Li 2O CO3

Lithium Li 1.000 2.153 5.323
Lithium Oxide Li2O 0.464 1.000 2.473
Lithium Li2CO30.188 0.404 1.000
Carbonate

WEBSITE
A copy of this announcement is available from the Companys website at www.europeanmet.com.

Here is the link to the full and original Press Release of European Metals Holding: http://www.asx.com.au/asxpdf/20170116/pdf/43fbd88fr4bgvc.pdf

European Metals Holdings Limited
ARBN 154 618 989
Suite 12, Level 1
11 Ventnor Avenue
West Perth WA 6005
PO Box 52
West Perth WA 6872
Phone + 61 8 6141 3500
Fax + 61 6141 3599
Website: www.europeanmet.com

Directors
David Reeves
Non-Executive Chairman

Keith Coughlan
Managing Director

Dr Pavel Reichl
Non-Executive Director

Kiran Morzaria
Non-Executive Director

Company Secretary
Ms Julia Beckett



Corporate Information
ASX: EMH
AIM: EMH
Frankfurt: E861.F
CDIs on Issue: 129M

Unternehmensinformation / Kurzprofil:
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Datum: 16.01.2017 - 08:58 Uhr
Sprache: Deutsch
News-ID 517674
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