17th Nov 2015 11:53
LONDON (Alliance News) - Rare Earth Minerals PLC on Tuesday said European Metals Holdings Ltd has completed two drill holes at the Cinovec Lithium-Tin-Tungsten project in the Czech Republic.
Rare Earth owns a 12% stake in European Metals.
The results showed a lithium intercept in one of the holes of 0.4%. A second drill rig is now on site, effectively doubling the drill rate at the project.
"The first assay results from the resource upgrade drill programme at the Cinovec Lithium-Tin-Tungsten deposit has returned a significant intercept and is in line with expectations based on results for historic drillhole CN-51. The drilling programme is being accelerated with the addition of a second rig, and I look forward to providing regular updates in due course," said Rare Earth Executive Chairman David Lenigas.
Shares in Rare Earth were down 0.8% to 0.7536 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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