European Lithium Ltd (ASX:EUR) has advanced its definitive feasibility study (DFS) for Wolfsberg Lithium Project in Austria with the appointment of the leading consultant for the study, DRA Global. The DFS is already fully funded and ready to proceed.

DRA will coordinate and supervise technical consultants, each responsible for the major aspects to be covered in the DFS. The comprehensive tender process for each sub-consultancy has been completed by DRA in consultation with EUR, and the scope of work has been finalised.

“Important milestone”

“We’re pleased to confirm the experienced team at DRA are leading the DFS for the company. We have confidence in the team who have undertaken the PFS process and have appropriate knowledge and experience with the Wolfsberg Lithium Project,” European Lithium CEO, Dietrich Wanke said.

“Completion of the DFS is an important milestone for the company with the aim of becoming the first local supplier of lithium into an integrated European battery supply chain.”

DRA’s independent consultants will cover all aspects of the DFS, including:

  • Geology
  • Hydrogeology and wastewater treatment
  • Mining inclusive of backfilling
  • Geotech
  • Ore concentration (including pilot plant test work)
  • Hydromet conversion (including pilot plant test work)
  • Environmental permitting
  • Infrastructure
  • Human resources
  • Operational readiness
  • Project execution
  • Market Studies
  • CAPEX and OPEX
  • Business cases
  • Third-party and peer review

Research will be carried out to the strictest standards of JORC regulations, and an independent competent person for resources and reserves has already been appointed.

The DFS will be fully compliant with international project finance standards and pave the way for the company’s operational readiness as it moves to the construction phase of the project.

About the company

European Lithium is a mining exploration and development company focused on its wholly-owned Wolfsberg Lithium Project in Austria. The company plans to take advantage of the growing lithium market to be the first local supplier in an integrated European battery supply chain.

This recent appointment follows EUR’s announcement that it will join the OTC US stock exchange under ticker EULIF, taking advantage of the ‘active lithium space’ to expand the company’s market footprint.

Read: European Lithium to be listed on the US OTC as EULIF

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