|Global gets approval for Wolfsberg|
|Sunday, 17 February 2013 12:10|
Global Strategic Metals NL has been given the all clear by the Austrian Mining Authority for its flagship Wolfsberg Lithium Project, 270km south of Vienna.
The mining licence approval means that the Perth-based explorer can now comply with its obligation to carry out mining activities on its 80 per cent owned project within two years of the granting of the original licence.
The Wolfsberg Lithium Project is considered to be of potential strategic importance to European manufacturers for lithium, silica, feldspar and mica, which the company believes has the potential to deliver substantial shareholder return in both the short and medium term.
The mining licence permits Global Strategic Metals to carry out mining activity to extract bulk samples, without the requirement to complete a second egress as originally stipulated, which means significant time and cost savings for the company.
“The grant of the mining licence places the company in an excellent position to advance the project,” Global chairman Tony Sage said.
“The anticipated achievement of absolute lease security will be a significant milestone for the company, enabling it to progress with orderly development towards a concentrate and then carbonate production to supply the European lithium market.”
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