European Lithium, (EUR:AU) an Australian company, is focused on the development of its wholly owned Wolfsberg Lithium Project which is located in Carinthia, 270km south of Vienna, Austria.
The Project is located 20 km east of Wolfsberg, an industrial town,
with established infrastructure, including access to the European
motorway and railway network. Discovered by Minerex, an Austrian
government company. Following extensive exploration, technical and
commercial studies a pre-feasibility study was completed in 1987.
Minerex completed exploration work that comprised initial surface
geology mapping, 9,940m³of surface trenches, 16,727m of diamond drilling
from surface and underground and 1,389m of underground access decline
and drifts. Trial mining was successfully undertaken by Boliden Contech.
The resource was restated to be compliant to JORC Code (2012) as 3.7
million tonnes inferred at 1.5% Li2O at a 0.75 % Li2O cut-off grade. The
project comprises 22 original and 32 overlapping exploration licences
and a mining licence over 11 mining areas issued by the Austrian mining
authority. The 5-year term of the original exploration licences has been
extended by the mining authority to 31 December 2019. The mining
licence can be held in perpetuity provided its conditions are
maintained. The Wolfsberg project benefits from significant exploration,
extensive metallurgical testing, mining and pre-feasibility studies
conducted by its past owners, which may allow European Lithium to fast
track the development of the Project which has the potential to become a
major producer of lithium in Europe. Construction could start by early
2019 and production by the end of 2020.
