Cinovec Lithium / Tin Project
Cinovec hosts the largest lithium resource in Europe, and one of the largest undeveloped tin resources in the World. The recently completed Preliminary Feasibility Study indicates that Cinovec has the potential to be the lowest cost hard rock lithium producer in the World.
The Cinovec project is located 100 km NW from Prague on the border with Germany, situated in the heart of Europe with ready access to end user car makers and companies involved in energy storage.
The project is located within close proximity to large industrial and chemical plants with excellent support services in Czech and Germany, adjacent to a main road with two rail lines within 10km of the deposit.
The Cinovec Project is located in the Krusne Hore Mountains which divide the Czech Republic from the Saxony State of Germany. The project is within a historic mining region, with artisanal mining dating back to the 1300s.
In the 1940s a large underground mining operation was established primarily to produce tungsten for the war effort. Mining and processing activities continued under the Czechoslovakian Government with the mine continuing to expand and producing tin as well as tungsten. Due to the fall of communism and lower tin prices, the mine was closed in 1993. In 2000, the old processing plant was removed and the site rehabilitated.
In 2012, European Metals purchased a 100% interest in the exploration rights to the Cinovec Project area together with an extensive database, and commenced a drilling campaign to validate the comprehensive data generated by the earlier development and exploration activities.
The Company’s ongoing drilling programme has completed 30 diamond holes each averaging 400 m depth, successfully validating earlier drilling results, adding lithium grade data and providing metallurgical testwork samples.
In support of the PFS, European Metals has undertaken extensive metallurgical testwork at UVR and Anzaplan in Germany as well as Nagrom and ALS in Australia.
In 2015, European Metals completed a Scoping Study into the redevelopment of the Cinovec Project. The Scoping Study highlighted that the size, grade and location of the deposit make it a very attractive development opportunity and recommended that project proceed through to a Preliminary Feasibility Study (PFS).
The results of the PFS highlight that the Cinovec Project has the potential to be the lowest cost hard rock operation globally due to a number of unique advantages: