European Green Transition PLC (AIM:EGT) has uncovered more high-grade rare earth samples from the Djupedal prospect, the nearby Bersummen area and the newly identified Stora Lockerum structure, all at Olserum in south Sweden.
Samples from dump material at Djupedal assayed 4.79%, 5.8% and 11.77% TREO (Total Rare Earth Oxides), with one showing higher under X-ray, plus continuity of mineralisation.
Six rock chip samples collected at Stora Lockerum, 900m south of Djupedal, assayed up to 3.88% TREO with an average of 1.73%.
Four samples from the Bersummen area assayed between 0.9% TREO and 2.51% TREO with samples up to 290m apart defining a potential new mineralised trend northwest.
A low-cost drill programme is scheduled for the second half of 2024 to define a district-scale system and further project upside.
Aiden Lavelle, chief executive, added: "We believe that the Olserum REE Project has the potential to be expanded into a district-scale REE system.
“We anticipate the drill programme could confirm our assumption that the Olserum REE project is a district-scale system with the potential to be a significant REE project in Europe.
“Completing the programme should support the company's aim of attracting a partner to fund its future development and potential commercialisation."