European Lithium appoints new director ahead of Wolfsberg DFS

European Lithium (ASX:EUR) has appointed veteran corporate advisor Michael Carter as a non-executive director as it progresses its Wolfsberg lithium project in Austria.

Carter, who will take up his role from 31 August, is experienced in structuring corporate transactions for junior resource companies and has worked in ongoing corporate advisory roles with numerous ASX listed entities over the last 18 years.

He has been a stockbroker since 1999 and is currently an associate director of CPS Capital Group.

At the same time, executive director Kimon Gkomozias is stepping down to take up a strategic role with Singapore-based technology metals company Welsbach Holdings.

Wolfsberg Lithium

The Company recently completed the second phase of drilling aimed at upgrading the current Measured and Indicated resource of 6.3 million tonnes grading 1.17% lithium oxide. The expectation is the Measured and Indicated resource will grow to circa 11 million tonnes grading 1% lithium oxide. The Company will use this new resource size to finalise its definitive feasibility study (DFS).

Drill results received to date included a standout 1.91m interval grading 2.4% lithium oxide while metallurgical testwork has also confirmed the potential to produce battery-grade lithium chemicals.

The DFS for the Wolfsberg lithium project is expected to be completed in April of next year.

As the global response to the threat of climate change intensifies EUR’s Wolfsberg Lithium Project is centrally located to a growing number of end users and the Company aim to be the first local lithium supplier in an integrated European battery supply chain.

This article was developed in collaboration with European Lithium, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.