European Green Transition PLC (AIM:EGT) said it has started drilling at its Olserum Rare Earth project in Sweden.
An initial programme of 1,500m will target outcropping mineralisation at Djupedal, where previous sampling has shown assay values up to 20.45% total rare earth oxides (TREO), and Olserum West with outcropping mineralisation located closer to the historic resource.
The low-cost drill programme is aimed at derisking the project and confirming the district-scale potential for rare earth elements (REE).
Aiden Lavelle, EGT chief executive, added: "Since the completion of our IPO in April this year, we have had a series of encouraging results from the Olserum REE project.
"Positive channel sampling results … and more recently, test work has confirmed that the mineralisation style at Olserum is capable of producing a REE-rich concentrate from conventional and relatively simple processing techniques.
"This initial low-cost drill programme is mainly focused on the highly prospective 1km-long Djupedal trend, which we believe indicates that a district scale REE system is evident at Olserum.”