Prospech’s (ASX:PRS) Korsnäs asset “keeps delivering standout results” with recent recognition of zones rich in critical heavy rare earth elements.
Managing Director Jason Beckon says HREEs like dysprosium and terbium feature prominently at Korsnäs.
“While Korsnäs is primarily a carbonatite-associated deposit known for valuable magnet REEs such as neodymium and praseodymium, the presence of significant dysprosium and terbium mineralisation is a major advantage,” says Beckon.
“These heavy REEs are crucial for producing high strength magnets which hold up under high temperatures and perform reliably in demanding applications like electric vehicles, wind turbines and high-efficiency motors.”
Beckon notes that with current supply disruptions in China, securing a stable source of these materials is more important than ever.
“Prospech is looking to meet this need, positioning itself as a dependable future supplier of magnet critical HREEs. Our commitment to thoroughly assessing these enriched zones at Korsnäs reflects our confidence in the project’s potential and our determination to support the growing global demand for sustainable energy technologies,” he adds.
“By developing Korsnäs as a secure supply source, we are not just meeting immediate industry needs; we’re playing a key role in strengthening the resilience of global rare earth supply chains for the long term.”
Releasing recent assay results today (11 November) ahead of attending the Noosa Mining Conference on 13-15 November, Beckon details the ongoing program of sampling and assaying of the historic Korsnäs drill core from holes completed in the 1950s, 60s and early 70s. A total of 307 samples from 25 holes are reported.
Mining.com.au is again an official media partner of the Noosa Mining Conference.
With current supply disruptions in China, securing a stable source of these materials is more important than ever. Prospech is looking to meet this need, positioning itself as a dependable future supplier of magnet critical HREEs.
“Our commitment to thoroughly assessing these enriched zones at Korsnäs reflects our confidence in the project’s potential and our determination to support the growing global demand for sustainable energy technologies,” Beckon says.
“By developing Korsnäs as a secure supply source, we are not just meeting immediate industry needs; we’re playing a key role in strengthening the resilience of global rare earth supply chains for the long term.”
Initially developed as a lead mine, Korsnäs also hosts extensive rare earth element (REE) zones, which remain open both along strike and at depth. The site features a series of layered carbonatite zones, each up to 20m thick and separated by 50m to 100m along the strike.
These REE-enriched zones correlate with gravity anomalies, represented as orange ellipses on the included plan. So far, five such anomalies have been identified, extending over a strike length of more than 5km.
Founded in 2014, Prospech focuses on mineral exploration in Finland and Slovakia, with a mission to discover, define, and develop critical element deposits containing metals such as rare earths, lithium, cobalt, copper, silver, and gold.
Prospech is actively positioning itself to contribute to Europe’s mobility revolution and energy transition. With a portfolio of prospective base and precious metals projects in Slovakia, and the recent focus on REE projects in Finland, the company is strategically aligned with the increasing demand for locally sourced minerals in Eastern and Northern Europe, regions that are highly supportive of mining. As demand for these critical elements grows, Prospech aims to become a leading player in the European market.
Write to Adam Orlando at Mining.com.au
Images: Prospech
