EUR finalises resource estimation based on infill drilling program in Zone 1 of the Wolfsberg Lithium Project deposit increasing previous resources by 11%

European Lithium Limited (ASX: EUR, FRA:PF8, OTC:EULIF) (European Lithium or the Company) is pleased to announce an upgrade in The Wolfsberg Lithium Project’s (Wolfsberg) Inferred resource for Zone 1. The increase in Inferred Mineral Resources follows the recently announced (see ASX Announcement 8 November 2021) increased Measured and Indicated Mineral Resources for Zone 1.

Inferred Resource Estimation

The estimation of the Inferred Mineral Resources uses the same interpretation as the previous estimate, (see ASX Announcement 5 April 2018) based on continuity of the identified veins.

The previous estimate was completed by using a long-distance interpolation between the identified veins and the pegmatite intersections of the deep level boreholes. This model was confirmed by the recent drilling campaign where, previous Inferred Mineral Resources could be upgraded into Measured or Indicated classifications respectively (see ASX announcement 8 November 2021). The recent drilling program was designed as infill exploration, which focused on the area of the previous Inferred Resources. No holes were drilled outside this area as extensional exploration, therefore, Inferred Mineral Resources are based on short distance extrapolation of the identified veins beyond the limits of drilling.

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