Todays RNS is an Excellent read…9 Sep 2024 11:25
This morning #EGT announced the successful completion of 13 holes for c.1,500 metres of diamond core drilling at their Olserum REE project in Sweden, a major milestone which they are delighted to say was reached ahead of schedule and below budget!! 👏👏👏
The @EuropeanGreenT Directors are encouraged by the work performed, with visual inspection of the drill core indicating broad alteration zones and intervals with intersections of visible phosphate mineralisation, which they believe host the REEs. Core logging is now complete and lab-based analysis to assess REE concentration is due to commence in late September 2024, with results expected later in H2-2024.
This low-cost drill programme is a crucial step in their goal to demonstrate a district-scale system and to monetise the Olserum REE project in the near future, which if successful would allow them to focus further resources on more advanced revenue or near revenue stage opportunities in the green energy transition.
The progress so far is excellent…