European Metals (ASX:EMH) has appointed DRA Global (ASX:DRA) to complete the Definitive Feasibility Study for the Cinovec Project in the Czech Republic.
The Cinovec Project has a globally significant hard rock lithium deposit with a total Measured Mineral Resource of 53.3Mt at 0.48% Li2O and 0.08% Sn, and is owned 49% by EMH and 51% by CEZ a.s.
European Metals says the project is well serviced by infrastructure and has strong community support, and the appointment of DRA Global is expected to be completed in Q4 2023.
Following the announcement, shares of European Metals hit $0.73.