Prospech Limited (ASX:PRS) Expands Jokikangas Project Amid Hafnium Price Surge
Project Expansion
The Jokikangas project has been expanded to 7,062 hectares due to the rising prices of hafnium and niobium. The project now incorporates the 4,852-hectare Honkamäki 2 Reservation Notification. Hafnium prices recently surpassed US$4,800/kg, an increase of over 220% since 2021. This surge has prompted a reassessment of the project’s prospectivity.
Encouraging Assay Results
Previously reported assay results from historical diamond core indicate promising grades of hafnium, niobium, and rare earth elements (REEs). Notably, data suggests significant grades of hafnium and niobium, further supporting the project’s potential for economic development. Prospech aims to sample historical drill core retained by the Geological Survey of Finland to evaluate these promising results more thoroughly.
Executive Insights
Jason Beckton, Managing Director of Prospech Limited, stated, “We acknowledge the significant impact of recent price increases in hafnium and niobium on the potential development of the Jokikangas project. Prospech geologists are organising a program to sample diamond drill core preserved by the Geological Survey of Finland to further assess the project’s potential.”
Future Directions
Prospech plans to utilise a handheld pXRF instrument to guide the re-sampling process, aiming to build on initial findings of significant grades already identified. This strategic approach seeks to fully understand the project’s potential as both hafnium and niobium present promising economic benefits for various high-demand industries.
Motley Fool contributor Abbie Stokes 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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