LONDON (Alliance News) - Rare Earth Minerals PLC Friday said that European Metals Holding Ltd, in which it has a 11.87% stake, has completed four core holes totalling 1,655.3 meters at the Cinovec Lithium-Tin-Tungsten Project in the Czech Republic.
"The continued progress and results of the Cinovec Lithium-Tin-Tungsten project is highly encouraging, in particular the mineralised intercept includes a high grade interval of 14 meters averaging 1.1% lithium oxide, and zones enriched in tin and tungsten all of which have the potential to reduce the unit production cost of lithium carbonate. We look forward to the results from the remaining holes," said Chief Executive Officer of Rare Earth Minerals Kiran Morzaria in a statement.
Shares in Rare Earth Minerals were up 4.0% at 0.780 pence Friday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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