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Prospech Ltd. ( (AU:ERE) ) just unveiled an update.
European Resources Limited has more than doubled the inferred mineral resource estimate at its Korsnäs rare earth project in western Finland to 15.4 million tonnes grading 1.00% total rare earth oxides, using a 0.5% cut-off. The upgrade is underpinned by new drilling, re-assayed historical core and a refined geological model, improving continuity of mineralised bodies and highlighting that the resource potential remains open with ongoing exploration.
The updated model is based on 42 mineralised domains and focuses on hard-rock mineralisation within a structurally controlled, carbonatite-related system dominated by light rare earth elements such as neodymium and praseodymium. With approximately 137.9 million kilograms of contained TREO and a strong NdPr component, the larger resource supports the project’s progression to metallurgical and development studies and strengthens its role as an emerging European rare earth supply option amid the EU’s Critical Raw Materials Act.
More about Prospech Ltd.
European Resources Limited is an Australia-listed explorer focused on rare earth elements, with its flagship 100%-owned Korsnäs project in western Finland. The project is centred on a historically mined lead deposit now recognised as part of a broader carbonatite-related rare earth system, aligning the company with the European Union’s drive to secure domestic critical raw materials supply.
Average Trading Volume: 4,004,115
Technical Sentiment Signal: Hold
Current Market Cap: A$12.08M
Learn more about ERE stock on TipRanks’ Stock Analysis page.