Prospech Limited (ASX:PRS) completes diamond drilling and advances metallurgical program at Korsnäs REE project in Finland

Prospech Limited (ASX:PRS) has announced the successful completion of a diamond core drilling program and the progress of the metallurgical test work program at the Korsnäs high grade rare earth elements (REEs) project in southwest Finland. The diamond core drilling program, which spanned over 1,000 meters, marks the first modern era drilling at the Korsnäs project since the 1970s. The program has yielded significant assay results, validating the presence of multiple high-grade REE mineralisation targets and extending known mineralisation below the historic Korsnäs mine. The completion of this program is a crucial step towards the preparation of a maiden JORC compliant resource estimate for the Korsnäs project.

Executive Commentary

Jason Beckton, Managing Director of Prospech, expressed the significance of the diamond core drilling program, emphasizing its role in confirming the REE potential of the Korsnäs project and providing material for metallurgical testing. He highlighted the completion of a Masters study to characterize the REE mineralisation at Korsnäs, enabling the design of a tailored metallurgical program specific to the project's mineralogy. Beckton also acknowledged the pivotal role of the drilling program and subsequent sample collection in securing a substantial grant from the European Commission under the REMHub program, reflecting the program's strategic importance and potential impact.

Summary

Prospech's completion of the diamond core drilling program and advancement of the metallurgical test work program at the Korsnäs REE project in Finland mark significant milestones in the company's exploration efforts. The successful validation of high-grade REE mineralisation targets and the extension of known mineralisation underscore the project's potential. The completion of the Masters study to characterize the REE mineralisation has paved the way for a tailored metallurgical program, aligning with the project's unique mineralogy. The company's receipt of a substantial grant from the European Commission underlines the strategic importance of these initiatives. With the progress made, Prospech is well-positioned to further its exploration and development activities, contributing to its goal of discovering and developing critical elements such as rare earths, lithium, cobalt, copper, silver, and gold resources in Europe.