RNS23 Nov 2022 07:11
HIGHLIGHTS
· Completed 13 in-fill drillholes and 4,311m at core Zinnwald license - programme aims, inter alia, to assess the potential to accommodate greater mining capacity for expanded lithium output
o First assays from four drillholes include long mineralised intervals such as 2,503ppm Li over 86.4m and 1,846ppm Li over 121m within which there are several high-grade core intervals including of 4,286ppm Li over 4.6m and 4,345ppm Li over 6.5m
o Initial drill results support the plan to consider the Albite Granites (previously referred to as "Ore Type 2" in the recent Preliminary Economic Assessment ("PEA")) for the Mineral Resource and future mine plan, with potential to materially increase the total Mineral Resource
· Awaiting initial assay results at Falkenhain exploration license where the first drillhole has been completed to a depth of 600m
· Extended exploration license at Falkenhain by three years
· Advancing testwork related to production processes
o Confirmed ratios of high grade technical / fertiliser grade by-product that can be achieved, which will form the basis for higher level engineering studies
o Additional tests being undertaken to confirm the mineral processing assumptions for Albite Granites as part of the future mining feed
· Completed environmental surveys at areas under consideration for the Project, which will be utilised to determine the scope of the Environmental Impact Assessment ("EIA")
· Strengthening relationships with leading partners:
o SRK Consulting UK Ltd - providing Competent Person ("CP") support and guidance for the Project
o TheiaX GmbH - assisting with cutting edge hyperspectral scanning of drill-core to be used in the geo-metallurgical optimisation of the Project
o Metso Outotec - providing expert support in advancing the mineral processing concept and engineering
o Epiroc - developing plans for an electrically powered mining operation
o GICON / GLU - supporting in the permitting process of mining assets in the state of Saxony
· As at the date of this announcement, the Company has funds on hand of €4.4 million
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