Prospech Limited reports exceptional drill assay results from its Korsnäs rare earth element project in Finland, extending the resource envelope with some of the highest grade-thickness intersections to date. These findings reinforce the project's potential amid growing demand for critical minerals in Europe.
- New drill assays reveal up to 21.5m at 25,827 ppm TREO including 10.8m at 43,758 ppm TREO
- Results confirm continuity and high-grade zones correlating with gravity anomalies
- Heavy rare earth elements like Terbium and Dysprosium show significant concentrations
- Historic drill core from 1950s-70s validated by modern drilling and assays
- Further assay results and metallurgical testing underway to refine resource estimates
Exceptional Assay Results Extend Resource Potential
Prospech Limited (ASX: PRS) has announced a new tranche of assay results from its Korsnäs rare earth element (REE) project in Finland, revealing some of the highest grade-thickness intersections recorded to date. These results not only extend the previously reported resource envelope but also validate the continuity of high-grade mineralisation zones within the deposit.
Key highlights include drill hole KR-139, which intersected 21.5 metres at an extraordinary 25,827 ppm total rare earth oxides (TREO), including 10.8 metres at a remarkable 43,758 ppm TREO. Other notable intersections such as KR-068 and KR-092 also delivered significant grades, reinforcing the project's robust mineralisation profile.
Correlation with Gravity Anomalies and Historical Data
The assay results correlate strongly with known gravity low anomalies identified across the project area, which span more than five kilometres of strike. This geophysical alignment supports the geological model of layered carbonatite zones hosting REE mineralisation, each up to 20 metres thick and separated by 50 to 100 metres.
Importantly, the historic drill core from the 1950s to early 1970s, preserved by the Geological Survey of Finland, has been resampled and validated through modern diamond drilling by Prospech. This dual verification enhances confidence in the deposit's continuity and grade distribution, with minimal nugget effect observed, suggesting a relatively uniform REE distribution.
Heavy Rare Earth Elements and Metallurgical Progress
Beyond the total rare earth oxides, the assays reveal significant concentrations of heavy rare earth elements (HREEs), including up to 58 ppm Terbium and 206 ppm Dysprosium. These elements are critical for advanced technologies and electric vehicle magnets, underscoring Korsnäs' strategic importance in Europe's supply chain.
Prospech is concurrently advancing metallurgical test work, with hard rock core samples undergoing analysis at GTK Mintec and tailings samples being tested at the Mining School Oulu laboratories. These efforts aim to optimize extraction processes and support future resource development.
Looking Ahead: Resource Update and Exploration Potential
The company expects to receive further assay results by the end of February, which will be incorporated into a revised resource estimate. The mineralisation remains open both along strike and at depth, with multiple structures presenting additional exploration upside.
Managing Director Jason Beckon emphasized the significance of these findings, stating that the results confirm the strongest mineralised intercepts to date and reinforce the continuity of high-grade zones. Prospech’s strategic positioning in Finland and Slovakia aligns with the growing demand for critical minerals in Europe’s energy transition and mobility revolution.
Bottom Line?
As Prospech integrates these high-grade results into updated resource models, Korsnäs is poised to become a cornerstone asset in Europe's rare earth supply chain.
Questions in the middle?
- How will the pending assay results influence the updated resource estimate and project valuation?
- What are the next steps in metallurgical testing and how might they impact project economics?
- Could further drilling unlock additional high-grade zones beyond the currently defined anomalies?