Prospech Minerals reports strong assay results from Korsnas Project in Finland

Prospech Minerals Ltd is excited to announce promising assay results from its ongoing sampling and assaying program of historical drill core at the Korsnas Project in Finland, confirming significant rare earth element (REE) mineralization.

Highlights:

• Impressive assay results: Recent assays from 260 samples across 22 historical drill holes include:
  • KR-107: 20.6m @ 11,953 ppm Total Rare Earth Oxides (TREO), with NdPrO enrichment at 3,474 ppm.
  • KR-138: 6.2m @ 14,014 ppm TREO, featuring a high-grade interval of 2.0m @ 41,270 ppm TREO with 12,109 ppm NdPrO.
  • KR-147: 28.6m @ 2,802 ppm TREO, including 1.1m @ 12,005 ppm TREO (3,415 ppm NdPrO).
• Validation of historical drill core: The new assays corroborate historical data from 471 drill holes archived by the Geologic Survey of Finland, showcasing consistent high-grade REE mineralization that was previously overlooked during lead-focused operations.
• Foundation for JORC resource estimate: The cumulative assay data from both historical and modern drilling lays the groundwork for a future JORC-compliant resource estimate.

Jason Beckton, Managing Director of Prospech, commented: “The assay results from our sampling of historical core at Korsnas continue to be robust, highlighted by a standout 20-meter intersection exceeding 1% TREO, with significant NdPr enrichment. Our findings suggest the potential for thick, continuous zones of REEs in areas previously discounted by lead-focused mining operations.”

The Korsnas Project, originally developed as a lead mine, also contains extensive REE zones that remain open along strike and at depth, featuring layered carbonatite structures up to 20 meters thick. By focusing on REE mineralization and leveraging historical core data, Prospech has avoided the significant costs associated with new drilling, estimated at A$16 million.

Supported by

Next steps:

Prospech will continue its extensive REE sampling program and expects to release additional assay results as they become available. The Company is committed to integrating these findings into its resource modeling and advancing towards a JORC-compliant resource estimate.

This announcement has been authorized for release by the Board of Directors of Prospech Minerals Ltd.