European Limited Limited: Positive Drill Results Confirm Zone 2 Could Mirror Zone 1 Resources at Wolfsberg Lithium Project

(firmenpresse) - European Limited Limited: Positive Drill Results Confirm Zone 2 Could Mirror Zone 1 Resources at Wolfsberg Lithium Project

Highlights

- Multiple pegmatite intersections in the four drill holes reported
- Drill hole intersection widths up to:
- P15-3 - 7.05 m and grades up to 1.9% Li2O
- P15-7 - 3.36 m and grades up to 1.36% Li2O
- P15-8 - 1.75 m and grades up to 1.63% Li2O
- Z2-5b - 2.16 m and grades up to 2.49% Li2O
- All drill hole data in Zone 2 to be used to develop a geological model for Zone 2 to plan future drilling and estimate a maiden Inferred resource
- Company targets 20 MT plus resource at Wolfsberg.

European Lithium Limited (ASX:EUR, FRA:PF8, VSE:ELI)(the Company) is pleased to report results from the surface drilling programme in Zone 2 at its advanced Wolfsberg Lithium Project (Wolfsberg), in Austria.

Five drill holes were completed in Zone 2 during Q1 2018, four of which showed multiple pegmatite intersections, while the results of the fifth are awaited. Thicknesses and grades were similar to those seen in Zone 1. One drill hole intersected a pegmatite vein of 7.05 m albeit with lower than average grade.

Tony Sage, Chairman, commented These results confirm the potential of Zone 2 to mirror the resources declared in Zone 1 and help us reach our target of 20 MT plus at Wolfsberg. Following receipt of all assay data from the current drilling programme a geological model for Zone 2 will be developed including all previous drilling results with the intent of estimating a maiden Inferred resource for Zone 2. A follow-up drilling programme in Zone 2 will then be proposed to further increase resources in Zone 2.

The current resource for the project in Zone 1, the northern limb of an anticline, was declared following verification of Minerex drilling data (ASX release - European Lithium declares 75% increase in JORC Code (2012) compliant resource tonnes - 21 November 2016) and deep hole drilling (ASX release - European Lithium increases resources at Wolfsberg adding 4.7 million tonnes at 0.78% Li2O in Zone 1). Zone 2 is the southern limb of the anticline. Surface sampling of pegmatite boulders and limited scout drilling in 2012 on this southern limb demonstrated the presence of lithium bearing pegmatites.

Drilling in the current programme began in 2017 with three drill holes completed (P15-1, P15-5 and P15-6). P15-1 did not intersect pegmatites but P15-5 and P15-6 intersected pegmatites of good grade and width which were reported in ASX release 'Assays confirm wide high grade pegmatite veins in Zone 2 at the Wolfsberg Lithium Project - 28 June 2017'.

Drilling in Zone 2 resumed in January and five additional drill holes were completed by end March 2018 (P15-2, P15-3, P15-7, P15-8 and Z2-5b). The location of these holes and those drilled in 2017 is shown in Figure 1 in relation to the Zone 1 drilling and underground development. The planned drilling programme to convert Inferred resources in Zone 1 to Indicated is also shown in Figure 1. This release reports the results of drill holes P15-3, P15-7, P15-8 and Z2-5b. The results of drill hole P15-2 are awaited.
http://www.irw-press.at/prcom/images/messages/2018/43213/180427 Zone 2 resultsPRcom.001.png


Figure 1: Plan view of Zone 2 exploration area with drill hole locations in relation to Zone 1 drilling. The underground development in Zone 1 is shown in blue. The drilling programme to convert Inferred resources in Zone 1 to Indicated is shown in orange.

The drill hole collar positions and drilling data are given in Table 1.
http://www.irw-press.at/prcom/images/messages/2018/43213/180427 Zone 2 resultsPRcom.002.png

Table 1: Drill hole collar positions and drilling data

The strip logs for all five drill holes are presented in Appendix 1. Intersections wider than 1m were generally sampled at 1m intervals. Table 2 shows the composites of the analyses and the calculation of true width of the intersections. The analyses of drill hole P15-2 are awaited. The four drill holes reported all show multiple intersections of lithium bearing pegmatite in both amphibolite and mica schist host rocks. Thicknesses and grades of the intersections are similar to those established in Zone 1.

Sections for drill holes P15-3, P15-7 and P15-8 are shown in Figure 2
http://www.irw-press.at/prcom/images/messages/2018/43213/180427 Zone 2 resultsPRcom.003.jpeg


Figure 2: Sections for drill holes P15-3, P15-7 and P15-8

Drill hole Z2-5b is shown in section in Figure 3.
http://www.irw-press.at/prcom/images/messages/2018/43213/180427 Zone 2 resultsPRcom.004.jpeg


Figure 3: Section for drill hole Z5-2b

Drill hole P15-3 showed a number of interesting intersections (1.69m (at) 1.0% Li2O; 2.16m (at) 1.36% Li2O) with one intersection of 7.05m that is wider than the widest seen in Zone 1 (5.5m) albeit at a lower grade 0.58% Li2O.


Drill hole P15-7 showed two interesting intersections (3.36m (at) 1.10% Li2O and 2.38m (at) 1.08% Li2O)

Drill hole P15-8 showed three intersections exceeding 1m with one of 1.75m (at) 1.63% Li2O.

Drill hole Z2-5b showed four intersections exceeding 1m with one of 1.43m (at) 1.91% Li2O

There are 12 completed drill holes in Zone 2 (including those from 2012) and they will be used to establish a preliminary geological model for Zone 2. This will be used to plan the next phase of drilling in Zone 2 and also estimate a maiden Inferred resource for Zone 2.
http://www.irw-press.at/prcom/images/messages/2018/43213/180427 Zone 2 resultsPRcom.005.png


Table 2: Pegmatite intersection widths and calculated true thickness with composite grades.

Dr Steve Kesler
Chief Executive Officer
European Lithium Limited

END
Visit the Companys website to find out more about the advanced Wolfsberg Lithium Project located in Austria.

Competent Persons Statement
The information in this announcement pertaining to the Wolfsberg Lithium Project, and to which this statement is attached, relates to Exploration Results, Mineral Resources or Ore Reserves and is based on and fairly represents information and supporting documentation provided by the Company and reviewed by Mr Don Hains, who is the independent Qualified Person to the Company and is a Member of the Association of Professional Geoscientists of Ontario with over 30 years experience in the mining and resource exploration industry. Mr Hains has sufficient experience, as to qualify as a Competent Person as defined in the 2012 edition of the Australian Code for Reporting of Mineral Resources and Ore reserves. Mr Hains consents to the inclusion in the report of the matters based on information in the form and context in which it appears. The company is reporting the historical exploration results under the 2012 edition of the Australasian Code for the Reporting of Results, Minerals Resources and Ore reserves (JORC code 2012).

Please follow the link to view original news in English language, including tables and JORC-Code:
https://www.asx.com.au/asxpdf/20180427/pdf/43tjbxyjjlzglk.pdf

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Bereitgestellt von Benutzer: irw
Datum: 27.04.2018 - 07:27 Uhr
Sprache: Deutsch
News-ID 574925
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