285% resource upgrade for CXB’s Czech Republic lithium project
Metallurgical testing by Cobre Montana NL (ASX:CXB) has facilitated a revised Mineral Resource estimate at its Czech Lithium-Tin-Tungsten project, boosting tonnages by 285%.
CXB, together with Perth-based Strategic Metallurgy, has developed advanced lithium extraction technology and is in the process of creating a number of lithium projects in Western Australia and Europe. Shortly it hopes to apply the process at a commercial scale.
Lithium is a key material for the production of lithium-ion batteries, which are in increasing demand from the electronics and electric vehicle industries.
CXB has partnered with European Metals to develop the Cinovec Project in the Czech Republic and the company recently applied its new test processing methods to samples from the area – contributing to the significant resource upgrade.
This development comes as CXB completes the acquisition of its fifth lithium project in Western Australia, where it has exclusive rights to use its extraction technology to recover lithium from micas.
285% boost to Cinovec Inferred Mineral Resource
With the help of CXB, European Metals was able to boost the size of Cinovec’s resource to an Inferred lithium resource of 5.5Mt Lithium Carbonate Equivalent (LCE) and 514.8Mt Li 2O (0.1% Li cutoff).
This represents a 285% boost to tonnage and an increase of 175% in contained lithium.
CXB has been applying its processing technology to the extraction of lithium from micas in Western Australia at its Lepidolite Hill project near Coolgardie.
The Czech project used those metallurgical techniques to arrive at the upwardly revised figures.
Ravensthorpe acquisition completed
CXB has successfully completed all legal requirements to acquire its fifth Western Australian lithium project – Exploration License 74/0543 near Ravensthorpe.
This new tenement is being acquired from Dempsey Minerals Limited and title transfers have been lodged with the WA’s Department of Mines and Petroleum.
Exploration License 74/0543 contains large parts of the Cocanarup Pegmatite Field, which hosts lithium and rare metals.
CXB has selected material from the site for process testing and says it has similar mineralogy the material mined at its Cinovec project in the Czech Republic.
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