European Green Transition PLC (AIM:LON:EGT), the AIM-listed company focused on green economy assets, has reported final results from its drilling programme at the Olserum rare earth element (REE) project in Sweden, confirming the district-scale potential for the mineralised system.
All 13 drill holes in the programme intersected mineralisation, strengthening EGT’s strategy to monetise the project through a sale or partnership as the company pivots towards revenue-generating opportunities in the green economy.
Among the results, hole OLS24-07 recorded 2.45 metres grading 2.71 per cent TREO, of which 33.4 per cent was classified as heavy rare earth oxides, from a depth of 40 metres.
The result was part of a broader mineralised zone measuring 22.5 metres with an average grade of 0.58 per cent TREO.
The results confirmed the vertical continuity of mineralisation from surface outcrops to depths of up to 150 metres, particularly at the Djupedal and Olserum West zones.
Aiden Lavelle, EGT’s chief executive, said: “This final batch of results builds on previously announced findings, confirming the district-scale potential of the REE-mineralised system at Olserum.
"The drill results have validated our exploration model, and we believe the project could be attractive to a range of potential acquirers or partners.”
The company now plans to share the results with interested parties to monetise the Olserum asset, as it shifts its focus towards opportunities that can generate near-term revenues within the green economy.