Cinovec now has an indicated resource of 232.8 million tonnes at 0.45% lithium oxide for 2.6Mt of lithium carbonate equivalent (LCE), at a 0.1% cut-off, a 420% jump in contained LCE.

The total lithium resource for the project now stands at 606.8Mt at 0.43% lithium oxide for 6.46Mt LCE.

The project’s indicated tin resource jumped by 64% to 28.6Mt at 0.23% tin and 0.54% lithium oxide for 65,800 tonnes of contained tin and 380,000t LCE.

EMH has a lithium exploration target of 350-450Mt at 0.39-0.47% lithium oxide for 3.4-5.3Mt LCE, and the company is confident that further drilling will increase the resource.

Speaking at the Low Emission and Technology Minerals conference in Perth last week, EMH managing director Keith Coughlan said Cinovec was already the largest lithium resource in Europe.

The rise in the indicated resource comes as EMH finalises a prefeasibility study at Cinovec.

Coughlan said the company was close to finalising a processing route for Cinovec, which it hopes to bring into production as soon as possible to capitalise on a growing electric vehicle market in Europe.

“There’s no production in Europe at all of battery grade material,” he said.

Germany is planning to end the production of fuel cars by 2030, while the Netherlands and Norway are aiming to reach that goal by 2025.

“I don’t know what that translates to in terms of lithium demand,” Coughlan said.

“I don’t think anyone knows yet, but it’s a large number.”

Despite a large resource and near-term production potential, EMH has a market capitalisation of less than $A90 million.

Most of its investor interest these days is coming from Europe.

“It’s a very different story to your average spodumene story going around the ASX,” Coughlan said.

EMH is also listed on London’s Alternative Investment Market.

Shares in EMH rose by 2.9% to 71c.