European Lithium drafts top pick to lead DFS at Wolfsberg lithium project
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European Lithium have secured the services of DRA Global as the lead consultant on its Wolfsberg Lithium Project definitive feasibility study.
The signing paves the way for European Lithium (ASX:EUR) to complete the DFS by the end of the March Quarter of 2022 as promised, with DRA confirming it remains on track.
DRA is coordinating technical work from a number of consultants on the Austrian project, which could be Europe’s first active lithium mine and refinery should European Lithium press the go button once the DFS is completed and released to the market.
The Australian and South African based engineering and processing contractor has previously worked on lithium studies and process design for several ASX-listed companies, including Altura Mining’s 200,000tpa Pilgangoora project (now owned by Pilbara Minerals).
It was also the lead consultant on the 2018 Wolfsberg PFS, which delivered a strong set of numbers.
That study showed the mine would produce 10,129tpa of lithium hydroxide for battery makers with an NPV of $441.9 million based on a measured and indicated resource of 6.3Mt at 1.17% lithium oxide.
Additionally, It is expected that the results of this DFS will further increase the measured and indicated resource to over 10Mt.
European Lithium has since been drilling with the aim of improving the confidence and scale of the Wolfsberg resource.
“We’re pleased to confirm the experienced team at DRA are leading the DFS for the Company,” said European Lithium CEO Dietrich Wanke.
“We have confidence in the team who have undertaken the PFS process and have appropriate knowledge and experience with the Wolfsberg Lithium Project.
“Completion of the DFS is an important milestone for the Company with the aim of becoming the first local supplier of lithium into 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.