European Green Transition PLC (AIM: EGT) CEO Aiden Lavelle and CFO Jack Kelly take Share Talk Zak Mir through the latest developments at the Limni copper project in Cyprus.

Here is the list of questions:

• You announced an option for a Copper Tailings Recycling project in Cyprus back in April and I see you had results out today on this; Aiden, can you please tell us more
• Jack, it was mentioned that there is potential for a solar energy project there also – tell me more about that.
• Aiden, the Olserum Rare Earth Project in Sweden, which is 100% owned by the company, has announced a raft of positive results over the last few months. How are things progressing there?
• What’s next up for the Olserum Rare Earths project? It was mentioned that drilling is expected to start in H2?
• Jack, I found the recently announced Altan Peatland Carbon Credit Project very interesting– how do you see that working?
• How do you see the Carbon Credit Project fitting in with EGT’s strategy of ‘developing a portfolio of green economy assets’?

Encouraging Preliminary Sample Results from Copper Tailings Recycling Project

Lavelle announced promising results from the initial due diligence phase of the project. The company collected 68 samples, revealing acid-soluble copper concentrations ranging from 0.4% to 0.9%. This finding indicates that the mine waters are leaching copper from oxidized tailings and re-precipitating it during the dry season, confirming the potential for copper recovery.

Additionally, the company identified significant gold potential, with rock samples showing grades up to 1.5 grams per ton. Lavelle noted that this gold likely went unnoticed during the original mining operations in the 1960s and 70s.

These findings bolster the company’s confidence to proceed with further due diligence and low-cost sampling to validate the copper recovery model. Lavelle emphasized that Cyprus provides a cost-effective environment for advancing the project towards potential near-term revenue generation.

 Highlights

·    The first stage of diligence on the Cyprus Copper Tailings Recycling Project at the past-producing Limni copper mine has delivered encouraging results across 68 samples.

·    Acid soluble copper ranging from 0.41% to 0.92% found in crusts clearly demonstrates the presence of copper in water at surface.

·    Results also indicate potential upside for gold, with samples of up to 1.48 g/t Au recorded from waste near the edge of the pit.

·    EGT will now progress to the next stage of diligence as part of its option agreement (as announced on 29 April 2024) to develop a copper tailings recycling project through low-cost water treatment and tailings development, with subsequent potential for solar development.

Aiden Lavelle, Chief Executive Officer of European Green Transition, said:

“The first stage of diligence at the Limni site has yielded encouraging results, indicating the potential for recovering a meaningful amount of copper, in addition to newly identified gold potential at the site which offers further upside for the project. Dry sulphate crust samples returned grades of acid-soluble copper ranging from 0.41% Cu to 0.92% Cu and averaging 0.756% Cu. We were also pleased to find indications of gold in rock chip samples taken from the pit edge, with results up to 1.48 g/t providing additional upside value.

“As a next step, we will now progress to the next stage of diligence as part of our 12-month option agreement. This will include further rock sampling, water sampling, and analysis of the potential for solar development at the site.”

https://www.share-talk.com/european-green-transition-plc-aimegt-operational-update-from-ceo-aiden-lavelle-cfo-jack-kelly/