Prospech Limited ("Prospech") is pleased to announce further high-grade assay results from its ongoing drilling program at the Korsnäs rare earth element (REE) project in Finland. These results confirm the continuity and scale of REE mineralization, further supporting the Company’s resource expansion strategy.
Key Highlights
- Consistent High-Grade Intercepts: New results reinforce the resource growth potential, with significant intercepts including:
- SO-021: 11.9 m @ 11,010 ppm TREO (NdPrO: 3,295 ppm), including 5.1 m @ 17,790 ppm TREO (NdPrO: 5,682 ppm).
- SO-017: 34.1 m @ 5,685 ppm TREO (NdPrO: 1,235 ppm), including 9.1 m @ 10,088 ppm TREO (NdPrO: 2,011 ppm).
- SO-076: 17.9 m @ 8,169 ppm TREO (NdPrO: 2,526 ppm), including 6.4 m @ 17,383 ppm TREO (NdPrO: 5,513 ppm).
- KR-2873: 6.3 m @ 13,802 ppm TREO (NdPrO: 3,604 ppm), including 1.6 m @ 44,667 ppm TREO (NdPrO: 11,761 ppm).
- Heavy Rare Earth Enrichment: Terbium (Tb4O7) values up to 59.2 ppm and Dysprosium (Dy2O3) up to 207.8 ppm, enhancing the deposit’s strategic significance.
- Growing Exploration Potential: Additional 295 samples are currently being analysed, with results expected in the coming weeks.
Prospech Managing Director, Jason Beckton, commented:
"Korsnäs continues to deliver outstanding results, reaffirming the consistency and scale of these high-grade zones. With these results and further samples currently being assayed, our geologic modelling of the deposit continues to improve, and we anticipate it will support an updated, improved resource estimate."
"Meanwhile, metallurgical test work is advancing successfully. Hard rock core sampling is now underway at the Geological Survey of Finland (GTK Mintec), while tailings samples are being analysed at the Mining School Oulu laboratories. Our Finland Manager is on-site at GTK Mintec this week, ensuring steady progress. This work is being conducted as part of the REMHub consortium, supported by the Horizon Europe grant, showcasing the collaborative efforts driving the project forward."
"We remain on track for a series of key updates in the coming weeks as new assay results and metallurgical data become available."
Advancing Towards a Resource Upgrade
The latest results will be incorporated into an updated resource estimate for Korsnäs, which is emerging as a strategic REE project with both light and heavy rare earth enrichment. The project’s high grades and favourable geology position it as a potential key supplier for Europe’s growing demand for critical minerals.
Strategic Importance of Korsnäs REE Deposit
- Originally mined for lead, Korsnäs has been redefined as a significant REE project, remaining open along strike and at depth.
- The deposit comprises a network of layered carbonatite zones, up to 20 meters thick, extending over a five-kilometre strike length.
- Strong correlation with gravity anomalies, indicating further resource expansion potential.
Next Steps
- Ongoing metallurgical test work to optimize REE recovery.
- Completion of resource update, incorporating new drilling and assay data.
- Additional drilling and geophysical surveys to define further high-grade zones.