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Prospech (ASX:PRS) announces high-grade REE intersections at Korsnäs project

Prospech Limited (ASX:PRS) interim update on Korsnäs REE project


Prospech Limited (ASX:PRS) has announced the receipt of high-grade rare earth element (REE) assay results from the Phase 3 sampling at its Korsnäs project in Finland. The company has received the first 304 samples from 16 holes, all of which returned reported mineralised intervals above 1,000 ppm Total Rare Earth Oxides (TREO). The intersections over 10,000 ppm TREO reported in 15 samples, with further Phase 3 assay results for 528 samples from 28 holes pending. Prospech has completed the earn-in and now owns 100% of Bambra OY, the holder of 100% of the Korsnäs, Jokikangas, and Saarenkylä project tenements.

Prospech Managing Director's Comments on Korsnäs Project


These assay results provide further compelling evidence that our Korsnäs tenements harbor significant REE mineralization in structures and bodies that are not directly associated with the historical Korsnäs mine. The compilation of historic mine and drilling data has enabled us to pinpoint REE mineralization in targets situated along the strike, both north and south of the mine, as well as the entirely separate zones to the east and west. Recent logging and portable X-ray fluorescence (pXRF) investigations of the core at Loppi have revealed that high-grade REE extends to considerable depths. We eagerly anticipate confirming this through the upcoming assay results. We look forward to supplementing the information obtained during the Loppi sessions with new drilling, mineralogical and metallurgical investigations in the coming year.

Summary of Prospech's Korsnäs REE Project Update


Prospech Limited (ASX:PRS) has announced high-grade rare earth element (REE) intersections at its Korsnäs project in Finland. The company has received the first assay results from Phase 3 sampling, with all holes returning reported mineralised intervals above 1,000 ppm Total Rare Earth Oxides (TREO). The intersections over 10,000 ppm TREO reported in 15 samples, and further Phase 3 assay results for 528 samples from 28 holes are pending. Prospech has completed the earn-in and now owns 100% of Bambra OY, the holder of 100% of the Korsnäs, Jokikangas, and Saarenkylä project tenements. The company's Managing Director, Jason Beckton, expressed eagerness to confirm the high-grade REE extensions and supplement the information obtained during the Loppi sessions with new drilling, mineralogical, and metallurgical investigations in the coming year.

Sourcehttps://announcements.asx.com.au/asxpdf/20231212/pdf/05ygqtnt8sgkn7.pdf

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