Ragnar Metals sounds the horns on HREE discovery at Olserum Project, Sweden  

Diverse metals explorer Ragnar Metals (ASX:RAG) has uncovered a potential 1.1km strike of heavy rare earth (HREE) mineralisation between its Flaken and Hylleled prospects in Sweden. 

The company says assays from 11 rock samples gathered from both prospects as part of its recently acquired Olserum Heavy Rare Earth Element (HREE) Project returned heavy rare earth oxide (HREO) mineralisation. Moreover, HREEs comprise the majority of the total rare earth element (REE) content in most samples. 

Ragnar reports these results are ‘highly significant’, as the Hylleled and Flaken prospects are located only 1.1km apart. These results, in conjunction with airborne magnetic data, lead the company to believe the magnetite-HREO mineralisation is connected. 

This belief is supported by field measurements, which confirm a northwest-southeast orientation with a steep dip to the northeast. 

This data also demonstrates that several magnetic anomalies extend for about 5km, suggesting further potential at the project. All of these results combined warrant further work across the tenure, according to Ragnar. 

Key assays from Flaken include 11,991 parts per million (ppm) (1.2%) total rare earth oxide (TREO) and 4,967ppm (0.5%) TREO with ‘abnormally’ high HREO of up to 93%. This result has been interpreted by Ragnar to represent a new REE discovery from old workings. 

Assays from Hylleled include 9,012ppm (0.9%) TREO and 8,286ppm (0.8%) TREO with ‘abnormally’ high HREO of up to 86%. 

As a result of these latest deliverables, Ragnar Metals announces it will move forward with further rock sampling as well as magnetic and radiometric geophysics at the project. 

Addressing the potential discovery, Ragnar Metals Executive Director Eddie King says: “We are thrilled with our first heavy rare earth rock assay results, particularly for dysprosium and terbium. These results strongly support Ragnar’s view that a wealth of critical minerals is yet to be uncovered in Sweden. We look forward to the next phase of exciting exploration work at Olserum North this summer.” 

These results strongly support Ragnar’s view that a wealth of critical minerals is yet to be uncovered in Sweden”

The company also notes rock sampling was recently completed at its wholly owned Gruvhagen REE Project, with results expected to be received in the coming weeks. 

Ragnar Metals is an ASX-listed explorer that holds an ‘impressive’ portfolio of ‘highly prospective’ nickel, copper, and gold assets across Sweden. 

The company’s recently acquired Olserum Project is located about 8.5km north of the Olserum HREE deposit and comprises an area of 20.8km-square. 

Ragnar, according to Nordic legends, was a Viking hero, as well as a Swedish and Danish king.

Write to Adam Drought at Mining.com.au

Images: Ragnar Metals Ltd
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Written By Adam Drought
Born and raised in the UK, Adam is a sports fanatic with an interest in Rugby League and UFC/MMA. When not training in Muay Thai and Brazilian Jiu Jitsu, Adam attends Griffith University where he is completing his final year of a Communication & Journalism degree.