European Lithium JV begins voyage to undiscovered Wolfsberg extensions
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European Lithium (ASX:EUR) has revealed joint venture partner EV Resources have appointed an expert geological consultancy on an exploration strategy for their jointly held lithium projects in Austria.
GEO Unterweissacher – an engineering organization for geology and geotechnics – has already reviewed all the relevant data and samples at the Weinebene project and has recommended that 80% owner EV Resources (ASX:EVR) carry out a diamond drilling program to test its pegmatite mineralisation.
European Lithium carries the remaining 20% interest in the project.
Weinebene is immediately adjacent to European Lithium’s Wolfsberg deposit and is believed to host extensions of the mineralisation found there.
Both companies will consider the report, which presents two options and decide on a drill program to extend the Wolfsberg mine and the strategic satellite projects.
Permitting is expected to take 8-12 weeks to complete, with the drill program expected to take 8-10 weeks once underway.
GEO Unterweissacher has also reviewed and advised on geological evaluation programs across six other projects.
European Lithium executive chairman Tony Sage said the move to action a drill program at Weinebene is positive for the company’s Wolfsberg project and the potential to expand known lithium resources in the region.
Wolfsberg has a current resource of 12.9Mt grading 1% lithium oxide and is currently the subject of Definitive Feasibility Study work that is due imminently.
The project is independently verified to contain ore suitable for processing into lithium-grade products and is perfectly placed to feed Europe’s hunger for battery metals.
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.