Prospech Limited (ASX: PRS) has announced highly promising final assay results from the Korsnäs Rare Earth Elements (REE) project in Finland, solidifying its status as a significant European REE asset. The latest assays confirm the continuity and extent of high-grade REE mineralisation, with numerous intercepts exceeding 1% Total Rare Earth Oxides (TREO) and up to 4.6% TREO. Notably, the project exhibits substantial heavy REE enrichment, including Terbium (Tb₄O₇) up to 61.3 ppm and Dysprosium (Dy₂O₃) up to 234.2 ppm.
The comprehensive program involved analysing 4,035 samples from 237 historic drill holes, covering 6,453 meters. These results are now being incorporated into an updated Mineral Resource Estimate, initially announced in December 2024. Managing Director Jason Beckton emphasized the consistency of high-grade mineralization and heavy rare earth enrichment, highlighting the project’s strategic importance. He added, “The scale and quality of the results… strengthen our confidence in Korsnäs as a premier REE asset in Europe at a time of growing demand for secure, high-quality rare earth supply.”
Significant high-grade intercepts include: KR-285 (7.7m @ 35,063 ppm TREO), KR-247 (6.3m @ 8,087 ppm TREO), SO-080 (28.7m @ 2,945 ppm TREO), and SO-099 (1.4m @ 13,894 ppm TREO). The Korsnäs project, originally mined for lead, now demonstrates extensive REE mineralization open for expansion. Layered carbonatite zones, reaching up to 20 meters thick, are spaced between 50 and 400 meters apart, correlating strongly with gravity anomalies.
Metallurgical studies are progressing in collaboration with the University of Oulu and GTK Mintek, supported by the EU-backed REMHub project, aimed at advancing REE processing technologies. Initial metallurgical testwork results are expected soon. Prospech is strategically positioned to contribute to Europe’s mobility revolution and energy transition, with a focus on discovering and developing critical elements deposits. The company aims to become a leading player in the European market amidst increasing demand for locally sourced minerals.
