Join our daily newsletter At The Bell to receive exclusive market insights
Prospech Ltd (ASX:PRS) is continuing its high-grade zones of rare earth element (REE) mineralisation expansion at Korsnas in Finland, based on ongoing sampling and analysis of drill core which was completed in the 1950s, ’60s, and ’70s.
Listen to the HotCopper podcast for in-depth discussions and insights on all the biggest headlines from throughout the week. On Spotify, Apple, and more.
Drill core from 471 holes – which was preserved by the Geological Survey of Finland – has been tested by recent diamond drilling conducted by Prospech.
On top of that, 295 more samples are in the process of being analysed, with those results due throughout February and March.
The continuity and scale of REE mineralisation have been confirmed by this recent program of work, with assays such as 11.9 metres at 11,010 ppm (parts per million) total rare earth oxides, including 5.1 metres at 17,790 ppm TREO.
The project’s strategic value has also been underlined by the enrichment of heavy rare earths, such as terbium (Tb₄O₇) up to 59.2 ppm and dysprosium (Dy₂O₃) up to 207.8 ppm.
“Korsnäs continues to deliver outstanding results, reaffirming the consistency and scale of these high-grade zones,” managing director Jason Beckon said after the company shared its February news early on Thursday morning.
Mr Beckon added Prospech was very pleased by the results. “Our geologic modelling of the deposit continues to improve which we and we anticipate 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.”
Prospech last traded at 2.7cps – a rise of 17.39% since the market opened.
Join the discussion: See what HotCopper users are saying about Prospech Ltd and be part of the conversations that move the markets.
The material provided in this article is for information only and should not be treated as investment advice. Viewers are encouraged to conduct their own research and consult with a certified financial advisor before making any investment decisions. For full disclaimer information, please click here.
-1200x645-380x200.jpg)