Rare Earth Exchanges

Finland Korsnäs Project: High Concentration of Terbium (Tb) and Dysprosium (Dy)

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Highlights

  • Prospech confirms high concentrations of Heavy Rare Earth Elements (HREEs) at Korsnäs Project in Finland.
  • Significant terbium and dysprosium mineralizations have been identified at the project.
  • The project has potential to become a key source of critical minerals for:
    • Electric vehicles
    • Wind turbines
    • High-efficiency motors
  • Project development amid global supply chain disruptions.
  • Company aims to support Europe’s growing demand for locally sourced rare earth elements.
  • Contribute to sustainable energy technologies.

Founded in 2014, Prospech Limited (“Prospech”) focuses on mineral exploration in Finland and Slovakia, with a mission to discover, define, and develop critical elements deposits containing metals such as rare earths, lithium, cobalt, copper, silver, and gold. Prospech positions itself as actively contributing to Europe's mobility revolution and energy transition. The company announced today further impressive assay results coming from its ongoing sampling program at the Korsnäs Project, located in Finland. The latest assays confirm high concentrations of Heavy Rare Earth Elements (HREEs), notably terbium (Tb) and dysprosium (Dy), which are critical minerals for high-strength magnets that are used in clean energy technologies.

Highlights per the firm’s press release:

  • HREEs Confirmed: Assays from 307 samples across 25 historic drill holes include:

  • KR-272: 11.4 m @ 13,383 ppm TREO, with high NdPrO enrichment of 3,982 ppm, including 4.0 m @ 32,831 ppm TREO featuring 40.9 ppm Tb4O7 and 227.4 ppm Dy2O3

  • SO-187: 17.4 m @ 9,798 ppm TREO from surface, including 3.0 m @ 48,465 ppm TREO with exceptional 86.0 ppm Tb4O7 and 313.4 ppm Dy2O3

  • Consistent High-Grade Zones: These results build on previously reported assays, confirming the presence of broad high-grade REE mineralisation.
  • Strategic Supply Potential: Terbium and dysprosium are essential for high-temperature magnets used in electric vehicles, wind turbines, and high-efficiency motors. Amid supply chain disruptions, the Korsnäs Project has the potential to become a key source of these materials for parts of Europe.

The Project

The Korsnäs project also hosts extensive Rare Earth Element (REE) zones, which remain open along strike and at depth. The deposit features layered carbonatite structures up to 20 meters thick, correlated with gravity anomalies extending over a 5-kilometer strike length. The site is ideally positioned to supply Europe’s growing demand for locally sourced rare earth elements.

Executive POV

With a strong portfolio of prospective base and precious metals projects in Slovakia, and the recent focus on rare earth element (REE) projects in Finland, the Company is strategically aligned with the increasing demand for locally sourced minerals in Eastern and Northern Europe, regions that are highly supportive of mining. As demand for these critical elements grows, Prospech aims to become a leading player in the European market

Jason Beckton (opens in a new tab), Managing Director of Prospech, commented: "Korsnäs keeps delivering standout results, with recent recognition of high grade zones rich in critical Heavy Rare Earth Elements (HREEs) like dysprosium (Dy) and terbium (Tb).

“While Korsnäs is primarily a carbonatite-associated deposit known for valuable magnet REEs such as neodymium (Nd) and praseodymium (Pr), the presence of significant Dy and Tb mineralisation is a major advantage. These heavy REEs are crucial for producing high strength magnets which hold up under high temperatures and perform reliably in demanding applications like electric vehicles, wind turbines and high-efficiency motors.

“With current supply disruptions in China, securing a stable source of these materials is more important than ever. Prospech is looking to meet this need, positioning itself as a dependable future supplier of magnet critical HREEs. Our commitment to thoroughly assessing these enriched zones at Korsnäs reflects our confidence in the project’s potential and our determination to support the growing global demand for sustainable energy technologies. By developing Korsnäs as a secure supply source, we are not just meeting immediate industry needs; we’re playing a key role in strengthening the resilience of global rare earth supply chains for the long term."

The Company

Prospech (opens in a new tab) (ASX: PRS) (FSE: 1P80) engages in mineral exploration in Slovakia and Finland, with the goal of discovering, defining, and developing critical elements such as rare earths, lithium, cobalt, copper, silver, and gold resources. Prospech is taking steps to be a part of the mobility revolution and energy transition in Europe. The Company has a portfolio of prospective cobalt and precious metals projects in Slovakia and through its acquisition of the Finland Projects is in the process of acquiring prospective rare earth element (REE) and lithium projects. Eastern and Northern Europe are areas that are highly supportive of mining and have a growing demand for locally sourced rare earths and lithium. With the demand for these minerals increasing, Prospech is positioning itself to be a major player in the European market.

The company headquarters is in New South Wales, Australia, with subsidiaries in Bambra Oy, Slovenske Kovy S.R.O., Prospech Slovakia s.r.o.

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