European Green Transition PLC (AIM:EGT) CEO Aiden Lavelle talked with Proactive's Stephen Gunnion about the latest drilling results from the Olserum Rare Earths project. Lavelle highlighted findings from the Djupedal prospect and the newly drilled Olserum West, which yielded the highest-grade assay recorded for the project — 0.5m at 8.8% total rare earth oxide.
Stephen Gunnion: Aiden, it’s great to speak with you. The latest EGT drill results have been released this morning. Can you share more about these findings?
Aiden Lavelle: Yes, we announced the results for four additional drill holes from the Olserum Rare Earths project this morning. Three of those are from the Djupedal prospect, while one is from Olserum West—a prospect we've never drilled before. This area is about 200 meters northwest of the historic resource. For context, we released four holes from Djupedal back on October 29.
These new results build on those earlier findings, with some excellent intersections. At Djupedal, for instance, Hole 6 showed 2.5 meters at 1.16% total rare earth oxide (TREO), while Hole 8, slightly to the west, yielded 2.4 meters at 1.18%. Hole 9 had 3.9 meters at 0.68% TREO. Additionally, these holes included multiple intersections and associated low-grade wall rock ranging between 8 and 16 meters at 0.3% to 0.4%, which aligns with our geological model.
What’s particularly exciting is the result from Olserum West. We recorded 0.5 meters at 8.8% TREO, marking the highest-grade drill assay across the project to date. This even exceeds any historic assay results, which is very encouraging for Olserum West.
Click here for the video
Stephen Gunnion: How do these results enhance the potential of Olserum and demonstrate its district-scale rare earth system?
Aiden Lavelle: These results are quite positive from a district-scale perspective. Djupedal alone covers a kilometre-long prospect with intersections across multiple mineralized structures. We’ve also seen broad zones of alteration consistent with our model. At Olserum West, we have high-grade mineralization from the first of three holes, and we’re awaiting assays for the other two.
The emerging district-scale potential is evident. Starting from the historic Olserum resource, Olserum West is about 300 meters northwest, and Djupedal is another 2.5 kilometres northwest of that. Additionally, there are numerous structures with surface mineralization that remain untested, presenting significant upside for the project.
Stephen Gunnion: When are you expecting the final drill results, and how might this influence your partnering opportunities?
Aiden Lavelle: We anticipate the final results for five remaining drill holes before the end of the year, hopefully within the coming weeks. The core has been cut and is currently at the lab. Once we have these results, we’ll reach out to potential partners and other companies interested in rare earths.
We’ll also be engaging with stakeholders at the Mines and Money: Resourcing Tomorrow conference in early December. Our focus there will be on discussing these latest results and the broader rare earths project. The goal is to find a partner and monetise the assets, moving us towards becoming a revenue-generating company and transitioning beyond exploration.