Zinnwald Lithium PLC Granted Additional Exploration Licence (3103C)
June 18 2021 - 2:00AM
UK Regulatory
TIDMZNWD
RNS Number : 3103C
Zinnwald Lithium PLC
18 June 2021
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the UK Market Abuse Regulation.
With the publication of this announcement, this information is now
considered to be in the public domain.
Zinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector:
Mining
18 June 2021
Zinnwald Lithium plc ("Zinnwald Lithium" or the "Company")
Granted Additional Exploration Licence
Zinnwald Lithium plc, the German focused lithium development
company, i s pleased to announce that its 50%-owned subsidiary,
Deutsche Lithium GmbH ('Deutsche Lithium'), has been granted a
five-year Exploration Licence (the 'Sadisdorf Licence') covering
approximately 225 hectares ('ha') in the Erzgebirge or Ore
Mountains region of Saxony, Germany. The Sadisdorf Licence has the
potential to provide additional resource upside to the Company's
advanced Zinnwald Lithium Project (the "Project") and is in line
with its strategy to become an important supplier to Europe's
fast-growing lithium sector.
Overview
-- The Sadisdorf Licence, which has historically been mined for
tin and copper and includes a significant lithium resource, further
increases Deutsche Lithium's resource base and potentially the
lifetime of the planned mine and mineral processing operations
-- Historical exploration work at the Sadisdorf Licence by
previous licence holders resulted in a 2017 historic JORC compliant
inferred mineral resource of 25 million tons with an average grade
of 0.45% Li(2) O (average 2,053 parts per million ('ppm') lithium
head grade).
-- Strategy to advance the Sadisdorf Licence and evaluate the
viability of combining resources with the Project
-- The Company continues to advance other key work streams on
the Project in Germany so as to capitalise on the strong market
conditions driven by the green metals revolution
Zinnwald Lithium CEO, Anton du Plessis, commented: "The
Sadisdorf Licence is an excellent addition to the Company which,
following further work we will undertake in due course, has the
potential to increase the resource base and lifetime of the planned
mine and mineral processing facilities related to our Project.
Given that the lithium-ion battery is most likely to lead the EV
transition, we are ideally positioned to contribute to this
fast-evolving market with an advanced asset in the centre of
Europe."
Details
Deutsche Lithium has been granted the Sadisdorf Licence, which
covers circa 225 ha in the Erzgebirge or Ore Mountains region of
Saxony, Germany and is valid until 30 June 2026. The license area
is located circa 12km NNE of the Company's Zinnwald license area,
and forms part of the same geological unit that hosts the historic
Li-Sn-W deposits at Zinnwald, Falkenhain and Altenberg. The 5-year
exploration licence was issued to Deutsche Lithium by the Saxony
State Mining Authority (Sächsisches Oberbergamt) in accordance with
--7 of the German Mining Act (Bundesberggesetz). As is standard
practise in Germany, the granting of the licence is subject to
there being confirmation of no valid objection to its granting and
the Company anticipates this confirmation being received by
mid-July.
The deposit at Sadisdorf has historically been mined for tin and
copper. More recently, exploration work has been undertaken by Tin
International AG and Lithium Australia NL for tin and lithium,
respectively. In December 2017, Lithium Australia published a 2017
historic JORC compliant inferred mineral resource of 25 million
tons with an average grade of 0.45% Li(2) O (average 2,053 ppm
lithium head grade).
The Company's key focus remains the development of its principal
asset, the 50% owned, advanced Zinnwald Lithium Project in Germany,
where it is advancing a defined development plan aimed at
constructing and operating a mine and processing plant to become an
important supplier to Europe's fast-growing lithium sector.
Deutsche Lithium plans to investigate the Sadisdorf Licence over
the next five years and to assess its potential to enhance the
Project.
ENDS
For further information go to www.zinnwaldlithium.com or
contact:
Anton du Plessis Zinnwald Lithium plc info@zinnwaldlithium.com
Allenby Capital (Nominated
David Hart/Liz Kirchner Adviser) +44 (0) 20 3328 5656
------------------------------- ----------------------------
Turner Pope Investments
(TPI) Ltd
James Pope/Andy Thacker (Broker) +44 (0) 20 3657 0050
------------------------------- ----------------------------
Isabel de Salis/Selina St Brides Partners (Financial info@stbridespartners.co.uk
Lovell PR)
------------------------------- ----------------------------
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