Join our daily newsletter At The Bell to receive exclusive market insights
Prospech Ltd (ASX:PRS) has found heavy rare earth elements (REEs), specifically up to 86 parts per million (ppm) terbium (Tb) and 313.4 ppm dysprosium (Dy) in assays taken from historic drill holes at its Korsnäs project in Finland.
Altogether, 307 samples were taken across 25 historical drill holes which had been completed at Korsnäs – in the country’s southwest – from the 1950s to 1970s.
Results included 11.4 metres at 13,383 ppm TREO from 102.7 (NdPrO2 3,982 ppm), including 4.0 metres at 32,831 ppm TREO from 106.7 metres; and 17.4 metres at 9,798 ppm TREO from 0.0m (NdPrO 3,087 ppm), including 3.0 metres at 48,465 ppm TREO from 11.4 metres.
Managing director Jason Beckon said the high grades of these particular REEs boded well for the project.
“Korsnäs keeps delivering standout results, with recent recognition of high grade zones rich in critical Heavy Rare Earth Elements (HREEs) like dysprosium (Dy) and terbium (Tb),” he said.
“While Korsnäs is primarily a carbonatite-associated deposit known for valuable magnet REEs such as neodymium (Nd) and praseodymium (Pr), the presence of significant Dy and Tb mineralisation is a major advantage.
“These heavy REEs are crucial for producing high strength magnets which hold up under high temperatures and perform reliably in demanding applications like electric vehicles, wind turbines and high-efficiency motors.”
Prospech is trading at 3.2 cents – a rise of 14.29% since the market opened.
Join the discussion: See what HotCopper users are saying about Prospech and be part of the conversations that move the markets.
