Prospech Shares Surge 17% as Korsnäs REE Expansion Progresses

2 min read | February 20, 2025 12:58 PM AEDT | By Team Kalkine Media

Prospech Shares Surge 17% as Korsnäs REE Expansion Progresses — Image source: Shutterstock

Expanding High-Grade Mineralisation

Prospech has been analysing preserved drill core from 471 holes, originally drilled between the 1950s and 1970s by the Geological Survey of Finland. The company’s recent diamond drilling campaign has provided confirmation of continuity and scale in the REE mineralisation at Korsnäs.

Key assay results include:

11.9 metres at 11,010 ppm (parts per million) total rare earth oxides (TREO).
5.1 metres within that interval showing 17,790 ppm TREO.
Notable heavy rare earth content, including terbium (Tb₄O₇) up to 59.2 ppm and dysprosium (Dy₂O₃) up to 207.8 ppm.

Additionally, 295 more samples are currently being analysed, with results expected in February and March, which could further enhance the project’s outlook.

Strategic Importance & Resource Expansion

Managing Director Jason Beckon emphasized the strategic significance of Korsnäs, stating that the project continues to deliver outstanding results, reaffirming the consistency and scale of its high-grade zones.

Beckon noted that Prospech is pleased with the ongoing results, and improvements in geological modelling are expected to support an updated and improved resource estimate in the near future.

Market Response & Future Outlook

Following the announcement, Prospech's shares jumped 17.39%, reflecting strong investor confidence in the project’s potential. Additional assay results expected over the next two months.

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