Metals & Minerals News

EGT begins drilling at Olserum

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European Green Transition plc has begun low cost diamond drilling for 1,500m at its Olserum rare earth elements project in Sweden.

Confirm: district-scale potential for rare earth elements (CI-ARS-USDA-Greb)

PARTNER

Up to seven holes are planned at the Djupedal prospect, targeting outcropping mineralisation along the 1km trend.

The company said that the first hole was in the vicinity of the historic magnetite iron workings where high-grade samples of dump material assayed between 4.79% and 20.45% TREO.

Drilling is also focused on mineralised structures identified by mapping, ground magnetic surveys, rock chip and channel sampling.

Two holes are planned for the Olserum West prospect where 2023 channel sampling confirmed “broad zones” of REE mineralisation in exposed outcrops, 300m northwest of the historic resource.

EGT added it would assess the geology and mineralisation encountered in each hole and adapt the programme to try to intersect further mineralisation.

The drill programme is designed to derisk the project and confirm the district-scale potential for rare earth elements, which EGT aims to monetise by attracting a partner.

Norse Diamond Drilling AS is the drill operator.

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