Prospech Limited (ASX: PRS) Announces Initial Inferred Resource Estimate for Korsnäs
Initial Resource Estimate
Prospech Limited (ASX: PRS) has announced an initial JORC Code 2012 Inferred Mineral Resource Estimate (MRE) for its Korsnäs project. The estimate shows 7.1 million tonnes at 1.08% Total Rare Earth Oxide (TREO) based on a lower cut-off grade of 0.5% TREO. This milestone is attributed to the company’s recent drilling campaign and ongoing core sampling of historical drill sites from the 1950s to 1970s.
Exploration Target
In addition to the Inferred MRE, Prospech has established an Exploration Target of between 10 million and 12 million tonnes at a grade ranging from 1.0% to 1.2% TREO. This Exploration Target remains conceptual as further exploration and metallurgical test work are required to determine the feasibility of economic extraction.
Executive Insights
Jason Beckton, Managing Director of Prospech, expressed excitement about the initial Inferred MRE, describing it as “a fantastic start and represents the EU’s newest REE resource.” Beckton added that the company aims to enhance the quality and quantity of the resource with further drilling and testing, which will support their path to initial mine permitting and possible project development.
Future Plans
Looking ahead, Prospech plans to continue its metallurgical testing and further drilling to connect mineralised domains to enhance resource estimates. Efforts will also focus on leveraging existing historical data while expanding exploration to surrounding tenements, which remain largely unexplored.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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