European Metals Holdings Ltd - mineral exploration and development company focused on Cinovec lithium-tin project in Czech Republic - Says resource at Cinovec upgraded. Total resource stands at 708.2 million tonnes, including inferred resource of 294.7 million tonnes. "The primary stated aim of this drilling program was to convert a larger portion of the resource to the measured category to provide greater certainty of the financial model and security to financiers. The results clearly indicate that the program has been successful and the robustness and consistency of the Cinovec resource further demonstrated. As we move closer to ultimate financing and offtake discussions, this higher degree of certainty provides more funding options for the project. Results from the final drill holes of the program have been in line with or better than expected," Executive Chair Keith Coughlan says. Cadence Minerals PLC, which has 9.7% European Metals, notes announcement.
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By Eric Cunha; ericcunha@alliancenews.com
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European Metals Holdings (EMH)
Cadence Mineral (KDNC)