European Lithium sees potential in Wolfsberg extensions
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European Lithium and its operating partner are moving to define exploration targets and strategy at their Eastern Alps lithium project in Austria.
The joint venture has approved geological consultants GEO Unterweissacher, who have reviewed all relevant data and samples, to send a team to test pegmatite mineralisation at the three satellite projects.
Results and lab samples are expected by the end of July depending on laboratory turnaround times.
Previous reviews have indicated good potential for lithium mineralisation with results of up to 3% lithium oxide.
European Lithium has a 20% interest in the Weinebene and Eastern Alps lithium projects, which are immediately adjacent to its flagship Wolfsberg project that has a JORC resource of 12.88Mt grading 1% Li2O.
Their proximity creates substantial optionality and potential synergistic development and production scenarios for both parties.
A collaboration agreement in place between the two companies includes the establishment of a Technical Advisory Committee to enhance the projects for the purpose of jointly collaborating in connection with the Weinebene and Eastern Alps Projects and sharing information to identify the best options to advance those assets and operations.
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.