“A poly-critical metals licence in the heart of Europe”
European Green Metals Ltd, the critical metals exploration and development company focussed in Europe, is pleased to announce positive results from its initial work programme at the 14 sq. km Eichigt Licence (‘Eichigt’ or the ‘Licence’) in Saxony, Germany. These results highlight the potential for critical minerals and in particular Rare Earth Elements (‘REE’) in this historic mining district in the industrial heart of Europe, which relies heavily on imported minerals from geopolitically sensitive regions.
Highlights:
- Initial rock sample results identified elevated levels of multiple critical elements and mineralised structures on a NW-SE trend.
- Structure with 1km of continuous strike identified with workings over a total of 1.7km strike.
- Lithium (‘Li’) up to 2330ppm (0.233%), Cobalt (‘Co’) up to 8280ppm (0.82%) and Nickel (‘Ni’) up to 1890ppm (0.189%).
- REE values higher than expected in select samples – Cerium (‘Ce’) up to 8500ppm (0.85%) and Neodymium (‘Nd’) up to 1725ppm (0.17%).
- High manganese content typically >10% in most samples – manganese is a key input to battery performance, longevity, and energy density.
- Highest Total Rare Earth Elements (‘TREO’) value 1.26% with four samples over 0.5% TREO.
- Saxony has excellent geology in terms of the potential for multiple critical metal deposit types and evidence of large mineralising systems and numerous historic mines.
- Licence is part of EGM’s strategy to build a portfolio of critical mineral assets in Europe to support the bloc’s green energy transition and net zero ambitions.
EGM Chief Executive Officer David Hall said, “These initial results highlight the presence of multiple critical minerals and REEs within the Eichigt Licence, located in the vicinity of energy-transition industrial end users in Saxony. Saxony has excellent infrastructure, a long mining history and mining culture, combined with strong links to cutting-edge academic research in the field of various critical metal deposit types.
“We applied for the license following analysis of historic data and now, with our own rock and soil sampling programme yielding results better than anticipated, especially with regards to REEs, the intention is to rapidly advance Eichigt to drill stage. Scout drilling will test the scale of this multi-critical metal system whilst contemporaneously developing new target areas for quantification and development.
“Our strategy is to identify and develop economic critical mineral and REE projects in Europe, to supply Europe. The reliance of European industry on critical minerals produced in regions where geopolitical issues are prevalent means that it is imperative that Europe develops its own supplies; the main theme of the recently announced European Critical Raw Materials Act. With this backdrop, the economic potential of a licence in the heart of Europe prospective for Li-Co-Mn-REE make the Eichigt prospect extremely exciting.
“On a wider level, we continue to advance the Olserum REE and Pajala graphite projects in Sweden, securing our position as an emerging supplier of critical mineral projects in Europe for Europe.”
Details
The Eichigt licence, close to the town of Oelsinitz in south-western Saxony, covers an area of 14 sq. km and contains several quartz-lithiophorite-Mn-Fe-oxyhydroxide veins exposed at surface. The mineralisation is found in association with vein quartz and hematite alteration and takes the form of fracture fill, breccia fill and massive oxides / hydroxides hosted in quartz veins within a phyllite country rock. The phyllite country rock shows evidence of thermal metamorphism indicative of a buried intrusive. This is supported by regional mapping and geophysics with an evolved S-type Sn-W-Li granite inferred to lie beneath Eichigt.
Mapping of the mineralised float and workings suggest multiple mineralised structures on a NW-SE trend above the buried intrusive. Samples from the small-scale historic workings show highly elevated levels of critical metals over a 1km strike with workings continuing for 1.7km along the trend. Results show that the manganese-rich breccia fill and massive mineralisation should be the target of future exploration work although more typical granite-hosted Sn-W-Li+/-REE mineralisation at depth also warrants investigation.
In total, 35 grab rock samples were taken and are the first from the licence area to be analysed for the full REE spectrum. The analysis was carried out by ALS Minerals at Loughrea, Ireland. These results back up reports by the previous operator of highly anomalous Li, Co, Ni (+/-REE) in an area of old surface workings for iron ore.
REE and critical metals values are highlighted by the selected samples below:
- AA-4009 – Ce 8500ppm, Nd 1725ppm, La 965ppm, Pr 428ppm, Li 1280ppm and Co 8280ppm.
- AA-4019 – Li 2330ppm, Co 3230, Cu 2300ppm, Ce 4430ppm, La 387ppm and Nd 306ppm.
- AA-4002 – Ce 5610ppm, La 880ppm, Nd 821ppm, Li 1290 and Co 3090.
Importantly, samples show low levels of U and Th with <20ppm and <31 ppm respectively.
Following the results from this initial sampling, EGM geologists carried out follow-up rock sampling, which has expanded the footprint of the mineralisation in all directions, as well as an orientation soil sampling grid. Samples are currently with ALS with results expected shortly. EGM geologists have also scouted the area for drill pads with the aim of carrying out a scout drilling programme in Q4 2023.
