Due Diligence for Lithium Exploration Project in Austria

The energy transition requires that the supply of lithium, one of the key elements for energy storage in lithium-ion batteries, has to be secured and its growing international demand has to be met. Among the mineral raw materials from which lithium compounds can be extracted is the mineral spodumene, which occurs in so-called pegmatites.

The existence of spodumene pegmatites in Styria in Austria has been known in isolated cases for decades. These deposits were mapped and scientifically analysed for the first time by Austrian geologists in the recent past (MALI, 2004). In 2022, the company Richmond Minerals Inc. has further investigated such deposits in the Wölzer Tauern. The results of the first samples confirmed significant grades of lithium.

G.E.O.S. tests lithium deposits and authorises results

On behalf of the Australian company European Lithium Ltd. (EUR), G.E.O.S. carried out a study for the independent technical examination of lithium deposits in a selected licence area. EUR is a listed exploration and mining company that focuses in particular on the Koralpe lithium project near Wolfsberg in Austria, which it owns.

Kersten Kühn, Head of Deposits at G.E.O.S., European Geologist (EurGeol) and member of the Australasian Institute of Mining and Metallurgy (MAusIMM) managed the project as Competent Person (CP) according to the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (JORC Code) and authorised the results as CP for public disclosure on the stock exchange platform ASX (Australian Securities Exchange). The fieldwork took place in challenging alpine terrain.

More information: https://wcsecure.weblink.com.au/pdf/EUR/02678351.pdf

Services:

• Fieldwork (surveying geological outcrops and sampling in challenging alpine terrain) to verify existing data for a lithium exploration project.
• Competent Person - Reporting according to the Australian JORC standard
• Authorisation of the client's ASX announcement
• As a result of the study, the client European Lithium Ltd. has decided to acquire the lithium exploration project from the current owner and to continue the exploration.