Communicators

Assays Confirm Wide High Grade Pegmatite Veins in Zone 2 at the Wolfsberg Lithium Project

Highlights

- Multiple spodumene rich pegmatite intersections in both drill holes have exceeded our expectations

- Mineralised intersection widths up to 3.38 metres in drill hole P15-5 with assays up to 1.92% Li2O

- Mineralised intersection widths up to 3.99 metres in drill hole P15-6 with assays up to 1.52% Li2O

28 June 2017 - European Lithium Limited (ASX:EUR, FRA:PF8)(the Company) is very pleased to report assay results from the surface drilling programme in Zone 2 at its advanced Wolfsberg Lithium Project (Wolfsberg), in Austria.

The two drill holes recently completed in Zone 2 show wide intersections of spodumene rich pegmatite. Hole P15-5 showed numerous pegmatite intersections including one of 3.38 metres mineralised width at 1.45% Li2O and another of 2.49 metres width with 2.27 metres mineralised at 1.92% Li2O. Hole P15-6 also showed numerous pegmatite intersections including one of 5.38 metres width with 3.88 metres mineralised at 1.1% Li2O and another of 5.25 metres width with 3.99 metres mineralised at 1.26% Li2O.

Steve Kesler, CEO, commented “The pegmatite intersections were visibly spodumene rich with many large crystals and these assays confirm them to be of high lithium grade. Clearly we have excellent exploration potential in Zone 2 and can look forward to adding significantly to the resource already declared in Zone 1.”

The current resource for the project was declared following drilling by a previous owner, Minerex, into the northern limb of an anticline (Zone 1). Surface sampling of pegmatite boulders and limited scout drilling in 2012 on the southern limb of the anticline (Zone 2) demonstrated the presence of lithium bearing pegmatites. The geological interpretation of the structure is that the pegmatites were intruded into the host rocks and that there was a later folding event that created the anticline. It is believed that the southern limb of the anticline has the potential to mirror the resource of the northern limb.

A drilling and trenching programme comprising 1,750 metres of diamond drilling and 300 metres of trenching was defined for Zone 2. This is illustrated in Figure 1 which shows the locations of 9 planned drill holes on the southern limb in relation to the identified veins and underground workings in the northern limb.

Figure 1: Plan view of Zone 2 exploration area with drill hole locations in relation to known Zone 1 veins

A cross section through the two drill holes is shown in Figure 2 with pegmatite intersections indicated by red bars.

Drill hole P15-5 was 150 metres deep and drill hole P15-6 was 200 metres deep. The strip logs for the two drill holes are presented in Appendices 1 and 2. All intersections were in amphibolite host rock. Intersections and assays are tabulated in Table 1 with assays made for wide intersections at 1 metre intervals. The true thickness of intersections was calculated and analyses composited for the veins wider than 1 metre with the data presented in Table 2. Table 2 also presents the data for the veins as mineralised width because metallurgical testwork has shown that the use of laser ore sorting is effective at eliminating interbedded waste host rock from vein packages. 

Figure 2: Cross section through drill holes P15-5 and P15-6

Table 1: Pegmatite intersection widths and lithium assays. Intersections less than 0.5m were ignored

Table 2: Composite true widths and lithium assays highlighting results of most interest

These drill results show pegmatite intersections down to the full depth of the drill holes which indicates that deeper drilling is warranted. The current drilling campaign in Zone 2 has 6 further drill holes planned along strike to the north east and south west of drill holes P15-5 and P15-6.

Dr Steve Kesler

Chief Executive Officer

European Lithium Limited

END

Visit the Company’s website to find out more about the advanced Wolfsberg Lithium Project located in Austria.

Competent Person’s Statement

The information in this announcement pertaining to the Wolfsberg Lithium Project, and to which this statement is attached, relates to Exploration Results, Mineral Resources or Ore Reserves and is based on and fairly represents information and supporting documentation provided by the Company and reviewed by Mr Don Hains, who is the independent Qualified Person  to the Company and is a Member of the Association of Professional Geoscientists of Ontario with over 30 years’ experience in the mining and resource exploration industry. Mr Hains has sufficient experience, as to qualify as a Competent Person as defined in the 2012 edition of the “Australian Code for Reporting of Mineral Resources and Ore reserves”. Mr Hains consents to the inclusion in the report of the matters based on information in the form and context in which it appears. The company is reporting the historical exploration results under the 2012 edition of the Australasian Code for the Reporting of Results, Minerals Resources and Ore reserves (JORC code 2012).