Zinnwald Lithium announces major update in mineral resource estimate for Saxony project

In an unprecedented development within the European lithium sector, Zinnwald Lithium plc, a company specializing in lithium extraction focused on the European market, has disclosed an updated independent Mineral Resource Estimate (MRE) for its wholly-owned Zinnwald lithium project, situated in Saxony, eastern Germany. This update, as of February 2024, showcases a substantial augmentation in the project’s lithium resources, highlighting its strategic significance and scale within the EU.

The updated MRE reveals a dramatic increase in both the volume and contained lithium in the Measured and Indicated categories, presenting a 445% surge in tonnes and a 243% boost in contained lithium compared to the 2018 MRE. Specifically, the project now boasts a total contained lithium of 429kt, a significant leap from the previous 125kt. This remarkable growth is attributed to the inclusion of a broader zone of mineralized albite granite alongside high-grade greisen mineralization, enhanced by 26,911 meters of new diamond core drilling over 84 drill holes and an updated geological model.

Zinnwald Lithium’s CEO, Anton du Plessis, expressed enthusiasm over the project’s advancement, stating, “We are delighted to be able to announce a substantial increase of our Mineral Resource at the Zinnwald Project with a 3.4x increase in contained lithium in the Measured and Indicated categories. This establishes the Project as the second largest hard rock lithium project by both resource size and contained lithium in the EU and clearly highlights its scale and strategic importance.”

The project’s expansion not only emphasizes its volume but also its potential for optimised economic outcomes. The inclusion of the mineralized granite into the resource and subsequent mine plan is expected to facilitate more efficient bulk underground mining techniques. Such advancements could significantly elevate lithium production beyond initial projections, as outlined in the Preliminary Economic Assessment published in 2022.

Prepared in accordance with the National Instrument 43-101 Standards of Disclosure for Mineral Projects, the MRE update by independent consulting firm Snowden Optiro Ltd of Bristol, United Kingdom, offers a comprehensive breakdown of the classified resources. The detailed analysis confirms the project’s enhanced grade and tonnage, promising a robust foundation for the updated feasibility study and future extraction efforts.

This substantial update positions the Zinnwald Project as a pivotal player in Europe’s transition towards sustainable energy sources. By significantly increasing its lithium resource base, Zinnwald Lithium plc not only underscores the project’s economic viability but also its role in supporting the burgeoning demand for lithium, essential for renewable energy technologies and electric vehicles.

The latest MRE update from Zinnwald Lithium plc marks a transformative moment in the European lithium industry. The significant increase in resources, coupled with the project’s strategic location in Germany, positions it as a key asset in the continent’s energy transition. The project’s expansion and the adoption of advanced mining techniques underscore the industry’s shift towards more efficient and environmentally responsible extraction methods, setting a precedent for future developments in the lithium market.