
March 17, 2025
European Lithium Ltd (ASX: EUR, FRA:PF8, OTC: EULIF) (European Lithium or the Company) is pleased to publish for the first time, historical deep diamond drill holes DDH 7-14 drilled in 2007, and DX-01 drilled in 2010 from the Tanbreez Project in Greenland.
Highlights - Diamond Drill Hole Historical Results
Drill hole DX-01 was successfully drilled vertically to 338m from surface and intersected high - grade rare earths and oxides averaging:
- 4209.22ppm (0.42% TREO) (“including averaged heavy rare HREO of 24.45%”),
- 2.45% ZrO2 “zircon oxide” cut off at 0.5%,
- 73ppm Ta2O5 “tantalum pentoxide”,
- 1174.06ppm Nb2O5 “niobium pentoxide”,
- 266.45ppm HfO2 “hafnium oxide”,
- 103.03ppm Ga2O3 “gallium oxide”,
- Mineralisation average from surface to 338m downhole.
Diamond Drill hole Drilled DX-01 was drilled to 338m depth within the Hill Zone 22MT @ 0.38% REE Maiden Mineral Resource (13 March 2025 ASX Announcement 45MT @ 0.38% TREO).
Drill hole D7-14 was successfully angle drilled at 15⁰ east to 243m from surface and intersected high-grade rare earths mineralisation averaging:
- 4437.54ppm (0.44% TREO) (“including averaged heavy rare HREO of 28%”),
- 1.78% ZrO2 “zircon oxide” cut off at 0.5%,
- 83ppm Ta2O5 “tantalum pentoxide”,
- 1496ppm Nb2O5 “niobium pentoxide”,
- 351ppm HfO2 “hafnium oxide”,
- Ga2O3 “gallium oxide” was not assayed,
- Mineralisation average from surface to 243m downhole.
See drill hole collars Figure 1 and assay reports Appendix 1, 2 and 3.
European Lithium currently holds a 7.5% direct interest in the Tanbreez Project. By way of background, European Lithium first acquired a 5% interest in Tanbreez Mining Greenland A/S (Tanbreez) on 3 October 2022 and acquired a further 2.5% interest in Tanbreez on 6 February 2023 from the privately owned Australian company Rimbal Pty Ltd (Rimbal). At this time, the investment of 7.5% in Tanbreez was not considered material to the Company and as such the historical drill hole data and results was not disclosed at the time of acquiring an interest in Tanbreez. In June 2024, Critical Metals Corp. (NASDAQ: CRML) entered into the Heads of Agreement with Rimbal to acquire up to 92.5% in Tanbreez and have completed the initial investment and stage 1 interest to hold a 42.0% interest in Tanbreez. As of the date of this announcement, European Lithium and CMC hold a combined interest of 49.5% in Tanbreez. European Lithium is CMC’s largest shareholder and as such now considers the Tanbreez Project to be material and as a result is announcing historical data and information in this announcement.The Company recently announced its Maiden Mineral Resource Estimate (MRE) for the Tanbreez Project of 45MT containing 0.38% TREO including 27% contained HREO plus rare metal oxides (see ASX Announcement 13 March 2025).
The Company is awaiting assay results from the September-November 2024 confirmation drilling program comprised of sixteen holes, with the first hole A1-24 reported January 2025, and will publish the remaining 15 diamond drill hole assay results when they become available.
The drilling results from A1-24 drilled 2024 (ASX Announcement 20 January 2025) confirmed a significant 40m deep intersection from outcropping surface mineralisation of high-grade rare-earth oxide averaging:
- 4,722.51ppm (0.47%TREO) (including 26.96% averaged heavy rare earth (” HREO”),
- 1.82% ZrO2 “zircon oxide”,
- 130.92ppm Ta2O “tantalum pentoxide”,
- 1852.22ppm Nb2O5 “niobium pentoxide”,
- 393.68ppm HfO2 “hafnium oxide”,
- 101.67ppm Ga2O3 “gallium oxide”.
The assay results from historical deep diamond drill holes DX-01 and D07-14 (that were drilled by Rimbal P/L in May 2007 and 2010) confirm similar average grades to drill hole A1-24
Commenting on the assay results, Tony Sage, Executive Chairman of the Company, said:
”It’s exciting to report on the outstanding assay results from historical deep drilling which may confirm high-grade, high tonnage potential that extends a lot deeper than was originally expected for the Tanbreez Project”
“After recently announcing the MRE of ~45MT of REE’S @ 0.38% and other rare earth metals, the highly experienced team we have recently assembled, is moving quickly to measure the true potential of the Tanbreez Project that is also gaining significant interest from Western Governments.
“The team is now working through more of the historical data (which contains over 400 holes and 3cc,000 samples) of which most have never been made public. Some of this data is over 22 years old, so by using modern technology to decipher the $45 million of expenditure spent by Greg Barnes, it will add significant value to Tanbreez Project’s long term success”
Click here for the full ASX Release
This article includes content from European Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
EUR:AU
Sign up to get your FREE
European Lithium Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
The Conversation (0)
07 September 2023
European Lithium
Overview
As the global push to halt climate change gains momentum, the European Commission is looking to regionalize the battery supply chain to capitalize on the rapid electric vehicle (EV) growth and limit its dependency on other countries through heavy investment and policy changes. Europe’s electric vehicle market value reached US$29.49 million in 2021 and is projected to increase up to US$143.08 million by 2027, indicating a compounded annual growth rate of 23.4 percent in that period.
Even though Europe is one of the largest global producers of motor vehicles, it currently does not have a local supply of lithium hydroxide which is heavily used in EV battery technology. According to experts, the market is set to remain in a structural shortage until 2025
One company that aims to become the first local lithium supplier into an integrated European battery supply chain is European Lithium (ASX:EUR,FRA:PF8), a mining exploration and development company focused on exploring, identifying and acquiring lithium in Europe. The company is led by a management team with decades of experience and success in the mining and finance markets.“Our aim is to be the first supplier of lithium from Europe, for Europe,” European Lithium chairman Tony Sage said.
The company is focused on its wholly owned Wolfsberg Lithium project located in Carinthia, Austria. The pre-existing mine is located in a mining-friendly region with multiple mineral discoveries in the surrounding area. The property features a high-grade lithium resource at an average grade of one percent lithium hydroxide, with a total resource of 12.88 million tonnes based on resources measured, indicated and inferred in zone 1 only.
The Wolfsberg Lithium project resource has the potential to double based on positive drill results in another zone on the property.
Based on the definitive feasibility study (DFS) released in March 2023, Wolfsberg Lithium Project is well positioned to become a leading producer of battery-grade lithium hydroxide in Europe. It is set to deliver high returns, leveraging low operating costs, and benefiting from a lithium market that is anticipated to be in structural undersupply during most of the life of mine. The battery-grade lithium hydroxide monohydrate (LHM) prices modeled in the DFS are projected to be at a 39-percent discount to current spot prices in 2025 and then escalate by 2 percent per annum. The estimated capex is US$866 million which supports a post-tax NPV of US$1.5 billion.
European Lithium has established several strategic relationships with an aim to deliver value to the Wolfsberg Lithium Project through development and during production. This includes a partnership with KMI for liaising with Austrian authorities.
The company commissioned Dorfner Anzaplan to construct the pilot plant, which was successfully completed on schedule. Anzaplan has also overseen the completion of metallurgical test work on bulk ore extractions. Testing will allow significantly higher recovery rates at the start of production as opposed to only assessing metallurgical data from the core as other mining companies often do, giving European Lithium the advantage of a streamline refinement process.
The company has support from the European Battery Alliance, GREENPEG and other government initiatives, believing it has the potential to become a major, first-to-market producer of lithium in Europe. The company also remains committed to clean production in an effort to support sustainability.
Based on the DFS, the company plans to begin the permitting process of its Wolfsberg Lithium project and prepare the mining plan for the mining authority to authorize the mine and concentrator construction. Afterward, the company will determine the approval requirements of the carbonate hydroxide conversion plant with the Energy Information Administration (EIA) and then initiate the final financing plan.
European Lithium, through its wholly owned Austrian subsidiary ECM Lithium Aľ GmbH (ECM), signed a binding long-term lithium offtake agreement with top-tier European auto manufacturer BMW to secure the company’s first offtake of battery grade lithium hydroxide from its Wolfsberg Lithium Project in Austria.
The company is aiming to commence production of lithium hydroxide from the project in 2027 — subject to funding and approvals by the Austrian government.
In a bid to expand its project portfolio, European Lithium executed a binding Heads of Agreement with 2743718 Ontario Inc., a subsidiary of Richmond Minerals (TSXVRMD), to acquire 100 percent of the rights, title and interest in the Bretstein-Lachtal Project, Klementkogel Project and the Wildbachgraben Project, a group of exploration licenses covering 114.6 square kilometers, targeting lithium with known occurrences in the Styria mining district of Austria.Company Highlights
- European Lithium is a mining exploration and development company focused on exploring, identifying and acquiring lithium in Europe.
- The company aims to become the first local lithium supplier into an integrated European battery supply chain.
- The company’s focus is on its wholly owned advanced Wolfsberg Lithium Project (Wolfsberg) located in Carinthia, Austria.
- Wolfsberg is a high-grade lithium resource at an average grade of one percent lithium oxide, with a total resource of 12.88 million tonnes based on measured, indicated and inferred resources in zone one only.
- Wolfsberg’s definitive feasibility study results demonstrate potential to deliver high returns, leveraging low operating costs, and benefiting from a lithium market that is anticipated to be in structural undersupply during most of the life of mine.
- The Wolfsberg resource estimate has significant upside with the potential to double based on positive drill results.
- Through its wholly owned Austrian subsidiary ECM Lithium Aľ GmbH (ECM), European Lithium signed a binding long-term lithium offtake agreement with top-tier European auto manufacturer BMW AG (BMW) to secure the company’s first offtake of battery-grade lithium hydroxide from Wolfsberg.
- The company has signed a binding agreement to build a Saudi Arabia-based hydroxide processing plant in partnership with Obeikan and deliver significant cost savings.
- The company is led by a management team with decades of experience and success in the mining and finance markets.
- European Lithium entered into a business combination agreement with Sizzle Acquisition, a US special purpose acquisition company, to which European Lithium will sell down its interest in its wholly owned Wolfsberg Lithium Project (Wolfsberg and Wolfsberg Lithium Project) and merge with Sizzle via a newly formed, lithium exploration and development company named, Critical Metals Corp.
- European Lithium has acquired 100 percent of the rights, title and interest in the Bretstein-Lachtal Project, Klementkogel Project and the Wildbachgraben Project, a group of exploration licenses covering 114.6 square kilometers, targeting lithium with known occurrences in the Styria mining district of Austria and nearby the Wolfsberg Lithium Project
- The company received high-grade lithium assays from sampling undertaken at various prospects within the Eastern Alps Lithium Satellite Projects, located in Austria, which are held 20 percent by European Lithium and 80 percent by EV Resources Limited (ASX: EVR).
Get access to more exclusive Lithium Investing Stock profiles here
Keep reading...Show less
Developing the Advanced Wolfsberg Lithium Deposit in Austria
12h
Update to Tanbreez Scoping Study to Include Addendum to MRE
12h
Mineral Resource Estimate Additional to 45MT Tanbreez
20 May
Outstanding Rare Earth Deep Diamond Drill Results
11 May
Tanbreez High Grade Deep Diamond Drill Results
29 April
Quarterly Activities Report and Appendix 5B
11h
Two Lithium Zones Confirmed in Latest Drill- Hole at Red Mountain Project, USA
Result supports Exploration Target, successfully intersecting lithium under cover
Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to report assay results from the second hole of its April 2025 diamond drilling campaign at the 100%-owned Red Mountain Lithium Project in Nevada, USA.
Key Highlights
- Diamond drill-hole RMDD005 intersected two zones of lithium mineralisation under alluvial gravel, returning:
- 9.1m @ 1,350ppm Li from 57.9m, within a broader low- grade zone of 80.8m @ 860ppm Li from 12.2m;
- 8.3m @ 1,210ppm Li from 240.8m to end-of-hole, within a broader zone of 15.9m @ 955ppm Li from 233.2m to end-of-hole
- RMDD005 is the first drill-hole at Red Mountain to successfully intersect ‘blind’ mineralisation.
- Hole ended in lithium mineralisation, with the mineralised zone remaining open down-dip to the east and along strike.
- Assays pending from four other recently completed drill- holes.
Drill-hole RMDD005 returned two intersections of lithium mineralisation:
- 80.8m @ 860ppm Li / 0.46% Lithium Carbonate Equivalent1 (LCE) from 12.2m, including an internal high-grade zone of 9.1m @ 1,349ppm Li / 0.72% LCE from 57.9m;
- 15.9m @ 955ppm Li / 0.51% LCE from 233.2m to end-of-hole, including an internal high- grade zone of 8.3m @ 1,209ppm Li / 0.64% LCE from 240.8m to end-of-hole.
Drill-hole RMDD005 is the first hole at Red Mountain to test for mineralisation interpreted as part of the recently announced Exploration Target (ASX release 12 February 2025) under significant alluvial cover (Figures 2 and 3). The hole was designed to test the lower extent of mineralisation in the eastern zone of Target Area A, before passing through a zone of unmineralised rocks, and then testing a second, western zone of interpreted mineralisation (see Figure 2). The hole successfully intersected both interpreted zones of mineralisation, separated by a weakly mineralised sequence of mostly conglomerate and breccias.
This result reinforces the Company’s understanding of lithium mineralisation at Red Mountain, providing further confidence in the geological model as work programs continue to progress. The more moderate grades intersected in RMDD005, which was located centrally within the project area, also lend support to the Company’s emerging interpretation that the northern part of the Red Mountain Project is likely to host a high-grade zone of lithium mineralisation.
Assays are pending for a further four holes drilled as part of the April diamond drilling campaign, which are expected to be received by the end of the financial year.
Astute Chairman, Tony Leibowitz, said:
“The results from this latest hole at Red Mountain are very encouraging, intersecting lithium mineralisation under cover exactly where the technical team expected it to be. This provides increased confidence in the geological model that underpins the Red Mountain Exploration Target as we rapidly advance towards the planned delivery of a maiden JORC Mineral Resource Estimate later this year.
“Our exploration at Red Mountain to date indicates significant scale potential, with lithium mineralisation confirmed over a strike length of almost 6 kilometres. This latest drilling is continuing to firm-up these results and reduce risk, successfully intersecting lithium between holes to delineate an increasingly robust and coherent body of mineralisation.”
Click here for the full ASX Release
This article includes content from Astute Metals NL, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Keep reading...Show less
28 May
Phase 1 Drill Program – Operational and Geological Progress Update
McLaren Minerals Limited (ASX: MML) ("McLaren" or "Company"), is pleased to provide a further update on the phase 1 Drill Program at its wholly owned McLaren Titanium Project in the western Eucla Basin, Western Australia. This update is driven by the completion of geological interpretation of all the drilling during this campaign, in the absence of laboratory results.
Highlights
McLaren Titanium Project
- 192 drill holes completed for a total of 4,067 metres, on time and without incident
- Significant extensions of prospective sediments outside of currently known resource boundaries observed during drilling:
- North extension: approximately 2,200m wide, avg. 14m thick (max 23m),
- Central zone eastern extension: 800m wide, avg. 20m thick (max 23m),
- Southern zone: 2,600m wide, avg. 10m thick (max 15m).
- Potential impact on the Mineral Resource Estimate will be evaluated as part of the PFS Resource update
- Metallurgical and geological samples submitted to IHC and Diamantina Laboratories
- Geological work has improved confidence in deposit morphology and is expected to reduce future drilling costs
- Strong community support confirmed within an established mining region
McLaren Mineral Sands Managing Director, Simon Finnis, commented:
“While we have not yet received any assays, phase 1 has delivered strong confidence to our team regarding this project. The most recent interpretation not only confirm the integrity of our geological model, but importantly, demonstrates the scale of the opportunity ahead. Defining substantial potential for mineralisation outside the current Resource boundary positions us well for future resource growth. We’ve also made solid ground operationally—drilling was completed on time, we’ve brought costs down, and we’re seeing strong local support. Taken together, these outcomes give us a great deal of confidence as we move toward the next phase of work and continue building long-term value for shareholders.”
Click here for the full ASX Release
This article includes content from McLaren Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Keep reading...Show less
28 May
Retentions Granted on High Grade Zone Licenses
Titanium Sands Limited (“TSL” or “the Company”) is pleased to announce that it has received notification from the Geological Survey and Mines Bureau (“GSMB”) that the Company’s application for the retention of the term of licenses EL423, EL424, EL425 and EL351 have been granted. The retentions have been granted for a further 1-year term, expiring between mid-November 2025 and mid-December 2025.
Highlights
- Retentions have been granted by the GSMB for EL423, EL424, EL425 and EL351
- The four retentions granted are contained within the high-grade zone identified in the 2023 Project Scoping Study
- Following issue of the Terms of Reference (TOR) by the GSMB in March 2025 the EIA process is underway
- The retentions granted provide approvals for the project consultants to complete the environmental studies and address the requirements of the TOR
- On completion of the EIA, the Company will be in a position to apply for an Industrial Mining License for the Project
The four EL’s form part of the high-grade zone as outlined in the Company’s Scoping Study (ASX:TSL 12/05/231). The retentions granted allow the environmental consultants to conclude environmental studies (EIA) on the project and to address the requirements of the recently granted Terms of Reference (TOR) for the Project (ASX:TSL 26/03/252).
On completion of the EIA process, (ASX:TSL 24/10/233), the Company will be in a position to apply to the GSMB for an Industrial Mining License (“IML”) which will allow the GSMB to proceed to issuing the IML subject to all relevant laws and regulations.
TSL’s Managing Director, Dr James Searle said“Receiving the ToR in March 2025 and now the license retentions for the Project is a further step towards obtaining the IML for this project. The Government of Sri Lanka are showing great support in progressing this project and the Company is solely focused on delivering a high-grade producing mineral sands operation once all regulatory approvals are in place”.
Click here for the full ASX Release
This article includes content from Titanium Sands Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Keep reading...Show less
23 May
QEM Limited (ASX: QEM) – Trading Halt
Description
The securities of QEM Limited (‘QEM’) will be placed in trading halt at the request of QEM, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 27 May 2025 or when the announcement is released to the market.
ASX Compliance
Click here for the full ASX Release
This article includes content from QEM Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Keep reading...Show less
22 May
Queensland Strengthens Trade Presence with First Office in Shenzhen
The Crisafulli government has opened a Trade and Investment Queensland (TIQ) office in Shenzhen, China.
According to a May 16 statement, the state sees Shenzhen as a gateway to the Greater Bay Area, and as a recognised major hub for technology, advanced manufacturing and finance.
“This new office brings Queensland’s trade footprint in China to six locations, Beijing, Shanghai, Guangzhou, Chengdu, Hong Kong and now Shenzhen, providing on-the-ground support across China’s major economic centres,” said Minister for Finance, Trade, Employment and Training Ros Bates.
Queensland opened a trade office in Chengdu in 2016, and one in Guangzhou in 2007 as part of the state's strategic initiative to strengthen economic ties with China's Guangdong province. The first TIQ office in China was opened in Shanghai in 1996, following a sister state agreement made between Queensland and Shanghai in 1989.
The deal was renewed in 2023, with Queensland calling China “an important trading partner.”
Recently, Bates led a trade mission in China with a delegation to HOFEX 2025, one of Asia’s largest trade expos. At the expo, 15 Queensland companies generated AU$3.99 million in export outcomes and secured 191 new trade leads.
According to the government, TIQ offices in the Greater Bay Area have already driven more than AU$46 million in commercial outcomes for Queensland businesses over the past seven months.
The Queensland-China Trade and Investment Strategy identifies strategic priorities to support business opportunities in areas such as health, advanced manufacturing, energy, food and agribusiness and education and training.
It is intended to strengthen the Queensland-China trade and investment relationship to support clients, investors and education providers to achieve commercial success and jobs growth in key opportunity areas.
The strategy also aims to deepen commercial ties with China, while ensuring Queensland businesses remain globally competitive, an important move considering the recent trade disputes between the US and China.
“Queensland is back on the global stage, and we’re open for business," said Bates.
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
21 May
Canadian Securities Exchange to Acquire National Stock Exchange of Australia
The Canadian Securities Exchange (CSE) has entered into an all-cash agreement to acquire NSX (ASX:NSX), the owner of the National Stock Exchange of Australia (NSXA), for roughly AU$16 million.
In a Monday (May 19) press release, the CSE says the acquisition price of AU$0.035 per fully paid ordinary share of NSX represents a 59 percent premium to NSX's closing price on May 16, the last day of trading before the deal.
The acquisition is for 95.2 percent of NSX’s ordinary shares as the CSE already owned a 4.8 percent stake.
“This transaction enables the CSE to expand its reach and builds on our success in attracting global listings,” said CSE CEO Richard Carleton. “Through our 21-year history, the CSE has grown to more than 750 listings by focusing on and supporting entrepreneurial companies. The NSXA, working with us, is poised to execute a similar plan in Australia.”
Originally established as the Newcastle Stock Exchange in 1937, the NSXA has evolved into a platform focused on serving Australia's early stage capital market. It changed its name to NSXA in 2006.
Upon acquisition by the CSE, the NSXA will remain operated locally, with the CSE providing support while expanding its geographic footprint. The NSXA will stay under the leadership of Managing Director and CEO Max Cunningham.
“The CSE’s acquisition will provide NSX with financial strength and operational stability, and bring global expertise to local exchange activities,” he said. “That is great news for participants and competition in Australia’s capital markets.”
Earlier this year, Canada and Australia released a joint statement underlining their commitment to developing sustainable and secure critical mineral supply chains, highlighting shared values in ESG standards.
The partnership re-instills the countries’ position as global leaders in mineral extraction and critical minerals production, both essential for the global energy transition.
The CSE states that its acquisition of the NSX looks to build on the success of CSE in Canada and help provide competing exchange market services to Australian issuers and investors.
The CSE board has advised shareholders to vote in favor of the acquisition. It remains subject to the approval of NSX shareholders, the Australian court and the Australian Securities and Investments Commission.
Should the transaction be approved, it is expected to close in the third quarter of 2025.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
Keep reading...Show less
Latest News
Sign up to get your FREE
European Lithium Investor Kit
and hear about exciting investment opportunities.
- Corporate info
- Insights
- Growth strategies
- Upcoming projects
GET YOUR FREE INVESTOR KIT
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.