TIDMEMH
RNS Number : 5831A
European Metals Holdings Limited
25 May 2023
For immediate release
25 May 2023
Testwork Realises Continued Outstanding Lithium Recoveries
Highlights:
- Testwork confirms separation efficiency and capability of
flotation of lithium-bearing zinnwaldite from Cinovec,
- Flotation testwork repeatedly reached >95% lithium recovery
to flotation concentrates at target Li-grades and mass yield
- DFS remains on track for completion in Q4 2023
European Metals Holdings Limited ( ASX & AIM: EMH, OTCQX:
EMHXY, ERPNF and EMHLF ) (" European Metals " or the " Company ")
is pleased to announce favourable testwork results which confirm
separation efficiency and capability of flotation of
lithium-bearing zinnwaldite.
The updated flotation testwork recently undertaken at Nagrom
Laboratories (Perth) has repeatedly reached > 95 % lithium
recovery from flotation concentrates at target Li-grades and mass
yield. Ongoing testwork to confirm the robust nature of the process
and optimise the Definitive Feasibility Study ("DFS") design has
surpassed previous performance indicators.
Results from testing and optimisation of flotation for the
concentration of zinnwaldite in fine ore has exceeded expectations
and further demonstrated the potential for high overall lithium
recoveries when combined with magnetic separation for the coarse
particle size ranges.
Detailed information on the floatation testwork conducted on
Cinovec zinnwaldite ore is provided at the end of this report.
Commenting on the recent testwork European Metals Executive
Chairman Keith Coughlan said:
"The exceptional lithium extraction results are outstanding and
further underline the commercial viability of operations at
Cinovec. These results show repeatability of >95% lithium
recovery at neutral pH and confirm both capex and opex reductions,
demonstrating the strong operational viability of the FECAB plant.
We look forward to further results of the ongoing optimisation work
as part of the DFS. The neutral pH of the flotation further
enhances the already strong ESG credentials of the Cinovec Project
particularly when compared to the acid flotation used on micas
elsewhere around the globe. We expect the current testwork to be
completed by the end of June and will publish the full
results."
Flotation Testwork Protocol
The Front-End Comminution and Beneficiation (FECAB) process
beneficiates Cinovec ore by recovering liberated lithium-bearing
zinnwaldite from the quartz and feldspar host rock, collecting the
zinnwaldite into a clean concentrate suitable to feed the
downstream Lithium Chemical Plant (LCP):
-- Testwork to concentrate zinnwaldite traditionally focused on
using Wet High Intensity Magnetic Separation (WHIMS) as the only
technology of beneficiation. Results demonstrated suitability of
magnetic separation for coarse ore, but also the need for an
alternative technology suited for concentration of the fine
fractions, to enable maximising lithium recoveries across all
particle size ranges.
-- Further studies into liberation of "mica-like" zinnwaldite
from the quartz and feldspar host rock revealed that almost
complete liberation is achieved at a grind size of 500 micrometres
("<MU>m"), which is significantly coarser than the
250<MU>m previously applied. Operating at a coarser grind
size results in overall reduction in energy required, whilst
reducing deportment of zinnwaldite into ultra-fine particle
fractions due to comminution.
-- Testwork using flotation technology demonstrated suitability
of this technology for concentration of fine zinnwaldite and
improved recovery performance, compared to magnetic separation for
fine particle size ranges.
-- Traditionally, successful flotation of "mica-like" minerals
was only possible at highly acidic pH levels. Flotation testwork
for the Cinovec project aimed and proved to be successful at
performing flotation at neutral pH. This renders the process more
environmentally and operationally friendly.
-- Testwork results demonstrated repeated >95% lithium
recovery with fully deslimed ore samples, producing zinnwaldite
concentrate at target lithium grades.
-- Further testwork to quantify the effect of slimes on
flotation efficiency and to enhance recovery of lithium from
ultra-fines, was completed. The tests correspondingly produced
concentrate at >95% lithium recovery at target lithium grade,
using samples containing up to 8% slimes. This is a significant
achievement, as the tests demonstrate the robustness of the process
under simulated plant operating conditions.
-- The flotation process and subsequent concentrate cleaning
results in final concentration of clean zinnwaldite into 30% of the
original flotation feed mass (at 95% lithium recovery), thereby
demonstrating flotation as an efficient concentrating technology
for Cinovec ore.
-- The flotation process for Cinovec is relatively simple, using
only a collector and minor quantities of pH-regulating reagents.
The final optimised flowsheet design is minimal, employing only
Rougher, Scavenger and a single Cleaner stage.
-- Testing and optimisation of flotation for concentration of
the fine ore has realistically pioneered the achievement of high
overall lithium recovery when combined with magnetic separation for
the coarse particle size ranges.
-- In the optimised Cinovec FECAB flowsheet, flotation will
process overall 42% of ROM, including milled middlings arising from
the magnetic separation process. This excludes ultra-fine slimes
which are required to be removed prior to flotation.
-- Further optimisation of the flotation process at Nagrom
resulted in elimination of the attritioning process (violent
stirring of the flotation feed) prior to flotation and an increase
in flotation feed pulp density. The direct consequences of these
positive outcomes are:
-- Significant reduction in ore break-down and creation of ultra-fines or slimes.
-- A reduction in ultra-fines results in a direct decrease of
possible lithium losses to slimes.
-- Saving in capital cost (equipment related) and operating cost
(due to direct decrease in energy required and reduced maintenance
frequency).
-- In additional testwork currently underway, core samples,
representing three different lithium life-of-mine feed grades, will
be processed through the optimised FECAB flowsheet to quantify the
effect of feed grade on recovery of lithium as well as chemical
properties of the resulting concentrate for the LCP feed.
This announcement has been approved for release by the
Board.
CONTACT
For further information on this update or the Company generally,
please visit our website at www.europeanmet.com or see full contact
details at the end of this release.
BACKGROUND INFORMATION ON CINOVEC
PROJECT OVERVIEW
Cinovec Lithium/Tin Project
Geomet s.r.o. controls the mineral exploration licenses awarded
by the Czech State over the Cinovec Lithium/Tin Project. Geomet has
been granted a preliminary mining permit by the Ministry of
Environment and the Ministry of Industry. The company is owned 49%
by EMH and 51% by CEZ a.s. through its wholly owned subsidiary,
SDAS. Cinovec hosts a globally significant hard rock lithium
deposit with a total Measured Mineral Resource of 53.3Mt at 0.48%
Li(2) O and 0.08% Sn, Indicated Mineral Resource of 360.2Mt at
0.44% Li(2) O and 0.05% Sn and an Inferred Mineral Resource of
294.7Mt at 0.39% Li(2) O and 0.05% Sn containing a combined 7.39
million tonnes Lithium Carbonate Equivalent and 335.1kt of tin (
refer to the Company's ASX release dated 13 October 2021) (Resource
Upgrade at Cinovec Lithium Project).
An initial Probable Ore Reserve of 34.5Mt at 0.65% Li(2) O and
0.09% Sn reported 4 July 2017 ( Cinovec Maiden Ore Reserve -
Further Information ) has been declared to cover the first 20 years
mining at an output of 22,500tpa of lithium carbonate (refer to the
Company's ASX release dated 11 July 2018) ( Cinovec Production
Modelled to Increase to 22,500tpa of Lithium Carbonate ).
This makes Cinovec the largest hard rock lithium deposit in
Europe, the fifth largest non-brine deposit in the world and a
globally significant tin resource.
The deposit has previously had over 400,000 tonnes of ore mined
as a trial sub-level open stope underground mining operation.
On 19 January 2022, EMH provided an update to the 2019 PFS
Update, conducted by specialist independent consultants, which
indicates a post-tax NPV of USD1.938B and a post-tax IRR of 36.3%
and confirmed that the Cinovec Project is a potential low operating
cost producer of battery-grade lithium hydroxide or battery grade
lithium carbonate as markets demand. It confirmed the deposit is
amenable to bulk underground mining (refer to the Company's ASX
release dated 19 January 2022) ( PFS Update delivers outstanding
results ). Metallurgical test-work has produced both battery-grade
lithium hydroxide and battery-grade lithium carbonate in addition
to high-grade tin concentrate at excellent recoveries. Cinovec is
centrally located for European end-users and is well serviced by
infrastructure, with a sealed road adjacent to the deposit, rail
lines located 5 km north and 8 km south of the deposit, and an
active 22 kV transmission line running to the historic mine. As the
deposit lies in an active mining region, it has strong community
support.
The economic viability of Cinovec has been enhanced by the
recent strong increase in demand for lithium globally, and within
Europe specifically.
There are no other material changes to the original information
and all the material assumptions continue to apply to the
forecasts.
BACKGROUND INFORMATION ON CEZ
Headquartered in the Czech Republic, CEZ a.s. is an established,
integrated energy group with operations in a number of Central and
South-eastern European countries and Turkey. CEZ's core business is
the generation, distribution, trade in, and sales of electri city
and heat, trade in and sales of natural gas, and coal extraction.
CEZ Group is one of the ten largest energy companies in Europe, has
28,000 employees and annual revenue of approximately EUR 9.97
billion.
The largest shareholder of its parent company, CEZ a.s., is the
Czech Republic with a stake of approximately 70%. The shares of CEZ
a.s. are traded on the Prague and Warsaw stock exchanges and
included in the PX and WIG-CEE exchange indices. CEZ's market
capitalization is approximately EUR 17.7 billion.
As one of the leading Central European power companies, CEZ
intends to develop several projects in areas of energy storage and
battery manufacturing in the Czech Republic and in Central
Europe.
CEZ is also a market leader for E-mobility in the region and has
installed and operates a network of EV charging stations throughout
Czech Republic. The automotive industry in the Czech Republic is a
significant contributor to GDP, and the number of EV's in the
country is expected to grow significantly in the coming years.
ENQUIRIES:
European Metals Holdings Limited Tel: +61 (0) 419 996 333
Keith Coughlan, Executive Chairman Email: keith@europeanmet.com
Kiran Morzaria, Non-Executive Director Tel: +44 (0) 20 7440 0647
Shannon Robinson, Company Secretary Tel: +61 (0) 418 675 845
Email: shannon@europeanmet.com
WH Ireland Ltd (Nomad & Joint Broker)
James Joyce/ Darshan Patel Tel: +44 (0) 20 7220 1666
(Corporate Finance)
Harry Ansell (Broking)
Panmure Gordon (UK) Limited (Joint Tel: +44 (0) 20 7886 2500
Broker)
John Prior
Hugh Rich
James Sinclair Ford
Harriette Johnson
Blytheweigh (Financial PR) Tel: +44 (0) 20 7138 3222
Tim Blythe
Megan Ray
Chapter 1 Advisors (Financial PR
- Aus) Tel: +61 (0) 433 112 936
David Tasker
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCPPUGPAUPWPWC
(END) Dow Jones Newswires
May 25, 2023 02:00 ET (06:00 GMT)
European Metals (LSE:EMH)
Historical Stock Chart
From Mar 2024 to Apr 2024
European Metals (LSE:EMH)
Historical Stock Chart
From Apr 2023 to Apr 2024