Prospech (ASX:PRS) completes successful diamond core drilling at Korsnäs

Prospech Limited (ASX:PRS) has announced the successful completion of the first modern era diamond core drilling program at the Korsnäs project. The assay results from the drill holes confirm significant rare earth element (REE) mineralisation, including high concentrations of valuable 'magnet' REEs, neodymium and praseodymium (NdPr). The drilling has also provided core for metallurgical test work and supports the preparation of a Korsnäs project resource estimate. The Managing Director, Jason Beckton, expressed delight at the immediate positive results and the enhancement of results obtained from sampling the preserved historic drill core. With over 700 samples from historic core currently being assayed, Prospech anticipates further discoveries.

Executive Commentary on Korsnäs Diamond Core Drilling

Prospech Managing Director Jason Beckton commented, 'Prospech has completed the first diamond core drilling at the Korsnäs project since the 1970s, yielding immediate positive results. We are delighted that this diamond core drilling program has successfully met its objectives of confirming the REE potential of the Korsnäs deposit and to provide material for metallurgical testing. The assay results from our first drill holes have, in fact, enhanced the results we have obtained from sampling the preserved historic drill core. Essentially, the more we sample, the more we discover and there is more to come with just over 700 samples from historic core currently in the lab being assayed.'

Summary of Korsnäs Diamond Core Drilling Results

The assay results from Prospech's first modern era diamond core drilling program at the Korsnäs project have confirmed significant rare earth element (REE) mineralisation, particularly high concentrations of valuable 'magnet' REEs, neodymium and praseodymium (NdPr). The drilling has also provided core for metallurgical test work and supports the preparation of a Korsnäs project resource estimate. With over 700 samples from historic core currently being assayed, Prospech anticipates further discoveries. The company's focus on mineral exploration in Finland and Slovakia, with the goal of discovering critical elements such as rare earths, lithium, cobalt, copper, silver, and gold resources, aligns with the growing demand for locally sourced rare earths and lithium in Europe. Prospech's positioning in the European market reflects its ambition to be a major player in the mobility revolution and energy transition in the region.