FINLAND — Prospech Minerals Ltd (ASX:PRS) has announced new assay results from its ongoing sampling and assaying program at the Korsnäs Project, further confirming significant rare earth element (REE) mineralisation.
The latest batch of assays from 260 samples across 22 historical drill holes has yielded notable results:
- KR-107: 20.6m @ 11,953 ppm Total Rare Earth Oxides (TREO), including 3,474 ppm NdPrO
- KR-138: 6.2m @ 14,014 ppm TREO, with a high-grade interval of 2.0m @ 41,270 ppm TREO (12,109 ppm NdPrO)
- KR-147: 28.6m @ 2,802 ppm TREO, including 1.1m @ 12,005 ppm TREO (3,415 ppm NdPrO)
These results validate the historical data from 471 drill holes archived by the Geologic Survey of Finland, revealing consistent high-grade REE mineralisation that was previously overlooked during lead-focused operations.
Jason Beckton, Managing Director of Prospech, emphasised the significance of these findings: “Assay results from samples taken by Prospech geologists from the historical core from Korsnäs have been consistently strong and the latest batch is no exception, with a standout 20-metre intersection at more than 1% TREO, showing significant 29% NdPr enrichment along the southern strike extension of the mine trend.”
The cumulative assay data from both historical and modern drilling is building a solid foundation for a future JORC-compliant resource estimate.
This approach has allowed Prospech to leverage historical core data without incurring the substantial costs of new drilling, estimated at $16 million.
Originally developed as a lead mine, the Korsnäs Project features extensive REE zones that remain open along strike and at depth.
These zones comprise layered carbonatite structures up to 20 metres thick.
Prospech’s focus on REE mineralisation has revealed consistent results, highlighting the project’s potential beyond its historical lead production.
Prospech will continue its extensive REE sampling program and expects to release further assay results as they become available.
The company aims to integrate these findings into its resource modelling and progress towards defining a JORC-compliant resource.
The ongoing success at Korsnäs underscores Prospech’s strategic position in the critical minerals sector, particularly in rare earth elements.
As global demand for these materials continues to grow, the company’s progress in Finland could play a significant role in future supply chains.
