Zinnwald Lithium PLC Grant Of Additional Exploration Licence (1173F)
July 06 2023 - 2:00AM
UK Regulatory
TIDMZNWD
RNS Number : 1173F
Zinnwald Lithium PLC
06 July 2023
Zinnwald Lithium plc / EPIC: ZNWD.L / Market: AIM / Sector:
Mining
6 July 2023
Zinnwald Lithium plc ("Zinnwald Lithium" or the "Company")
Grant Of Additional Exploration Licence
Zinnwald Lithium plc, the European focused lithium company
developing the advanced Zinnwald Lithium Project (the 'Project') in
Germany, is pleased to announce that its 100%-owned subsidiary,
Deutsche Lithium GmbH ('Deutsche Lithium'), has been granted an
additional exploration licence (the 'Bärenstein Licence') covering
approximately 4,933.9 hectares ('ha') in the Erzgebirge region of
Saxony, Germany. The Bärenstein Licence has the potential to
provide additional resource upside to the Company's Project and
results in continuous licence coverage from the Zinnwald Mining
Licence to the Falkenhain Exploration licence, thus complementing
the Company's strategy to potentially develop future operations in
this area.
HIGHLIGHTS
-- Closes the gap between Falkenhain and Altenberg Exploration
licences and adds a substantial land area to the mineral
exploration titles of the Company in the region that now stands at
combined 9,959.6 ha.
-- Potential to further expand the Company's lithium resources
which could ultimately contribute to the mining production of the
Project.
-- The greenfield Bärenstein Licence holds significant mineral
potential and was historically mined for tin and silver between the
15th and 19th centuries.
-- The Bärenstein Licence area includes land that is being
evaluated for the future mining and processing operations of the
Project.
-- The Company continues to prioritise the work towards the
Project's Bankable Feasibility Study ("BFS"). The immediate goal is
to conclude the on-going drill-campaign in Zinnwald in the coming
months, which should result in an updated Mineral Resource Estimate
("MRE") being published in Q4 2023.
Zinnwald Lithium CEO, Anton du Plessis, commented: "The
Bärenstein Licence is an excellent addition to the Company which
complements our existing licence holdings by linking the promising
Falkenhain licence area with our core Zinnwald Licence. Following
further work we will undertake in due course, the Bärenstein
Licence has the potential to increase the resource base and
lifetime of the planned mine and mineral processing facilities
related to our Project.
DETAILS
Deutsche Lithium has been granted the Bärenstein Licence, which
covers circa 4,933.9 ha in the Erzgebirge or Ore Mountains region
of Saxony, Germany and is valid until 30 June 2028. 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
end-July 2023.
The Bärenstein Licence lies adjacent to, and directly to the
north-east of, the Altenberg-DL licence and almost completely
encloses the Falkenhain licence, both of which the company already
holds (please see overview map above). By being granted this
exploration licence, the Company has closed the gap between
Falkenhain and Altenberg-DL licences, which also contains valuable
geological targets and areas for planned future development of the
Zinnwald mining operation.
The lithium and tin endowment of the area is tied to the
presence of granitic intrusions of certain geological ages, as well
as structural corridors that have carried mineralising fluids.
Utilising geological knowledge Zinnwald Lithium has gained from
working in the immediate area, the Company is planning to undertake
further greenfield exploration on the Bärenstein Licence and expand
its resource base locally. The "Sachsenhöhe" area has been
identified as an especially promising exploration target, as it is
known for historic mining activities for tin and silver since the
15th century.
Furthermore, the Company continues to investigate the broader
Bärenstein area as a location for future mining and processing
operations. To also hold the mineral rights for these areas has
therefore been a priority to maintain planning flexibility as well
as legal certainty.
The Company's key focus remains the development of its principal
asset, the 100% owned advanced Zinnwald Lithium Project in Germany,
where it is progressing the work for a new Bankable Feasibility
Study. By consolidating mineral rights in the Zinnwald area, the
Company maintains the aim to become an important supplier to
Europe's fast-growing lithium sector. One of the Company's primary
immediate goals is the completion of its on-going infill drilling
campaign on the Zinnwald Licence to support the delivery of an
updated MRE in Q4 2023. As at today's date, the Company has
completed 61 drill holes totalling more than 20,000m of drill
core.
Deutsche Lithium plans to investigate the Bärenstein Licence
over the next five years and to assess its potential to enhance the
Project.
*ENDS*
For further information visi t www.zinnwaldlithium.com or
contact:
Anton du Plessis Zinnwald Lithium info@zinnwaldlithium.com
Cherif Rifaat plc
David Hart Allenby Capital
Dan Dearden-Williams (Nominated Adviser) +44 (0) 20 3328 5656
---------------------- --------------------------------
Oberon Capital
Michael Seabrook Ltd
Adam Pollock (Joint Broker) +44 (0) 20 3179 5300
---------------------- --------------------------------
Tamesis Partner
Richard Greenfield LLP
Charles Bendon (Joint Broker) +44 (0) 20 3882 2868
---------------------- --------------------------------
Isabel de Salis St Brides Partners zinnwald@stbridespartners.co.uk
Paul Dulieu (Financial PR)
---------------------- --------------------------------
Notes
AIM quoted Zinnwald Lithium plc (EPIC: ZNWD.L) is focused on
becoming an important supplier of lithium hydroxide to Europe's
fast-growing battery sector. The Company owns 100% of the Zinnwald
Lithium Project in Germany, which has an approved mining licence,
is located in the heart of Europe's chemical and automotive
industries and has the potential to be one of Europe's more
advanced battery grade lithium projects.
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