European Green Transition (EGT) has released assay results for its first four drill holes at the Olserum rare earths project in Sweden.
Thus far, the drilling has confirmed the existence of significant rare earths mineralisation within a shear zone structure at Djupedal, thereby validating the company’s structural model and supporting the idea of district scale potential.
Amon the highlights were 1.5 metres grading 3.48% total rare earth oxides (TREO), 7.25 metres grading 0.72% TREO, and 1.6 metres grading 1.45% TREO.
Within these results heavy rare earth oxides were well represented.
The remainder of the results from the recent 14-hole diamond drill programme are expected in the current quarter, subject to laboratory turnaround times.
"The objective of our drill programme at the Olserum REE project was to derisk the project and support the monetisation of the project in the near future,” said Aiden Lavelle, chief executive of European Green Transition.
“The initial results provide strong validation of the project's district-scale REE potential. We look forward to receiving the remainder of the results later this year, which will be crucial as we look to realise value through a sale or partnership of the project, enabling EGT to direct its focus towards revenue generating opportunities in the green energy transition."
View from Vox
Steady and methodical progress from European Green Transition, as it continues to work towards its stated goals. If Olserum proves to be economic it will represent something of a strategic asset, given its location in the heart of Europe. The bulk of the world’s rare earths projects are inside China, an uncomfortable fact, which leaves many Western governments feeling vulnerable. Expect Olserum to be well supported, the closer it comes to any development decision.
https://www.voxmarkets.co.uk/articles/q-a-with-aiden-lavelle-from-european-green-transition-e31a020/