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Prospech Ltd. ( (AU:ERE) ) has provided an update.
European Resources reported substantial progress at its Korsnäs rare earth project in Finland over the March 2026 quarter, completing a six-hole diamond drilling program that confirmed broad rare earth mineralisation in the mine area, West-1 and a new southern target. The drilling delivered strong total rare earth oxide and NdPr-enriched intersections, validating gravity and passive seismic (HVSR) as effective targeting tools and reinforcing the geological continuity and upside resource potential of the project.
Metallurgical work advanced through multiple specialist laboratories in screening, beneficiation and downstream test work, contributing to refinements in the processing flowsheet for the Korsnäs ore. Following the quarter, the project’s Inferred Mineral Resource was upgraded to 15.4 million tonnes at 1.00% TREO, and the company moved to strengthen its balance sheet with a renounceable rights issue, underpinned by underwriting support, to fund further project development and de-risking activities.
More about Prospech Ltd.
European Resources Limited is an Australia-listed mineral exploration company focused on rare earth elements, with its flagship 100%-owned Korsnäs rare earth project in Finland. The company is targeting carbonatite-hosted rare earth mineralisation with notable neodymium and praseodymium enrichment, positioning itself within the critical minerals supply chain for European and global markets.
Average Trading Volume: 4,032,140
Technical Sentiment Signal: Hold
Current Market Cap: A$11.97M
See more insights into ERE stock on TipRanks’ Stock Analysis page.