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13/06/2024
Mining News

European Green Transition PLC unearths high-grade rare earth deposits in South Sweden

European Green Transition PLC has reported significant findings of high-grade rare earth samples from multiple locations at Olserum in south Sweden. Samples from the Djupedal prospect displayed TREO (Total Rare Earth Oxides) concentrations of 4.79%, 5.8%, and 11.77%, with one sample exhibiting even higher levels under X-ray analysis, indicating continuity of mineralization.

Additionally, six rock chip samples from the newly identified Stora Lockerum structure, situated 900m south of Djupedal, showed TREO concentrations of up to 3.88% with an average of 1.73%. Meanwhile, samples from the nearby Bersummen area ranged between 0.9% and 2.51% TREO, defining a potential new mineralized trend northwest, with samples up to 290m apart.

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A low-cost drill program is planned for the latter half of 2024 to delineate a district-scale system and explore further project potential. Aiden Lavelle, CEO, expressed optimism about expanding the Olserum REE Project into a district-scale system and attracting a partner for future development and commercialization.

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