Rare Earth Minerals receives good news from Cinovec

20th Apr 2016 14:43

(ShareCast News) - Rare Earth Minerals received positive news from one of its investments on Wednesday, receiving the latest analytical results from the Cinovec Lithium-Tin-Tungsten Project.The AIM-traded company holds a stake in the project through a 19.8% holding in European Metals Holdings.It said drillhole PSn02 returned a mineralised intercept of 188 metres averaging 0.46% lithium oxide, including a high-grade interval of 25 metres averaging 0.72% lithium oxide and another of 20 metres averaging 0.86% lithium oxide.In addition, Rare Earth said the lithium intercept contains zones significantly enriched in tin and tungsten."We are excited to see the progress at the Cinovec lithium project, the ongoing drilling programme, is showing excellent results, which bode well for the on-going development large scale lithium, tin and tungsten project," said Rare Earth Minerals CEO Kiran Morzaria."We look forward to the next phases of drilling, targeting the higher grade shallower areas of the deposit"Rare Earth Minerals said drillhole PSn13 was ongoing, after which drilling will focus on the shallower, higher grade lithium areas in the main section of the deposit.