21 November 2024
European Green Transition
plc
("European Green Transition",
"EGT" or "the Company")
Next Phase of Results from
Olserum REE Project
Results provide further
evidence of district scale REE system at Olserum
European Green Transition (AIM:
EGT), a company developing green economy assets in Europe, reports
further positive results for an additional four drill holes from
its drill program at the Olserum Rare Earth Element ("REE") Project
in Sweden ("Project").
Highlights
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REE mineralisation confirmed in all
four holes building on the strong initial results announced
on
29 October 2024.
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Results provide further evidence of
the district scale REE system at Olserum and support
EGT's strategy to monetise the Project through
sale or partnership as EGT continues to direct its focus towards
revenue generating opportunities.
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Hole OLS24-06 intersected
2.55m grading 1.6%
Total Rare Earth Oxides (TREO), of which 13.7% are
Heavy Rare Earth Oxides (HREO) from 25.95m to 28.5m and a lower
zone of 1.65m grading 0.86% TREO (31.7%
HREO) from 56.85m to 58.5m.
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Hole OLS24-08 intersected four
separate zones of mineralisation including 2.4m grading 1.18% TREO (43.4% HREO) from 64.8m to
67.2m.
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Hole OLS24-09 intersected
3.9m grading 0.68% TREO (25% HREO) from near
surface and a second zone of 1.2m grading 2.03% TREO within a
broader zone of 16m grading 0.33% TREO.
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Hole OLS24-13 intersected three
narrow zones of mineralisation including the highest-grade drill
core assay to date of 0.5m grading 8.83% TREO (16.1% HREO) from
41.9m to 42.4m.
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Results from the final five holes
are expected in December 2024, subject to laboratory turnaround
times.
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Aiden Lavelle, Chief Executive Officer of European Green
Transition, said:
"The second batch of drill results from
the Olserum
REE
project confirm that mineralisation
is present across both the Djupedal and Olserum West prospects and
de-risks the Olserum REE project for an incoming
partner. These
results build on the Company's update
announced last
month, on 29 October, which
confirmed the
district scale potential for REE at Olserum.
Results from Olserum West, near the historic resource, confirm
that this zone is mineralised at depth with assay values of up to
8.83% TREO over 0.5m. These are encouraging results and we look
forward to the results from the remaining five holes. We expect
these to be critical in
supporting EGT to monetise the Project
as the Company directs its focus towards revenue generating
opportunities in the green energy transition."
Summary of Drill Results
EGT has received assay results for
four further diamond drill holes drilled as part of a 13-hole scout
drill program to test the district scale REE potential at the
Olserum REE Project in August 2024. These results are for three
holes at the Djupedal prospect, 2.5km northwest of the historic
resource at Olserum, with a further hole at Olserum West, c.300m
from the historic resource. Results for the first four holes from
the east of the Djupedal prospect were announced on 29 October 2024
and are available
here. The
Company is awaiting results from a further five holes which are
expected later this year, subject to laboratory turnaround
times.
Figure 1 Olserum
drill hole map showing EGT drill holes from 2024 drill
program.
Djupedal Prospect
Hole OLS24-06 at Djupedal was
located near OLS24-05 but drilled in the opposite direction to the
southwest to test the alteration that was intersected at shallow
depth in hole OLS24-05 (results still pending) and test the
geological model in addition to investigating weathered out
lineaments on surface. OLS24-06 intersected an upper mineralised
zone with 1.6% TREO (13.7% HREO) over 2.55m from 25.95m to
28.5m and a lower zone of 1.65m grading 0.86% TREO
(31.7% HREO) from 56.85m
to 58.5m. The second intersection occurs in a zone of lower grade
mineralised wallrock with 7.15m grading 0.35% TREO which is
associated with strong alteration of the granite host rock. The
foliation is variable and at shallow angles to the core axis in the
top half of the hole as expected for this drill orientation.
Therefore, the true width of mineralisation is likely less than
indicated but the hole confirmed the presence of a structure
containing fault rock with both mylonitised and heavily fractured
granite from 90.65m
to 91.6m and also at 93.8m to 94.7m. This fault, which may displace
the alteration downdip to the south, explains why alteration and
mineralisation is of lower intensity to the south of Djupedal and
is consistent with surface mapping.
Hole OLS24-07 and OLS24-08 were
drilled in the west of the Djupedal prospect to target the strong
mineralisation in outcrop which was previously channel sampled with
results of 3m @ 1.58% TREO and 1m @ 2.27% TREO. Results for hole
OLS24-08 confirm vertical continuity of the surface mineralisation
to 60m depth, with a downhole intersection of 1.18% TREO (43.4% HREO)
over 2.4m from 64.8m to 67.2m. The REE are
associated with bands and disseminations of monazite and xenotime
in sheared and biotite-magnetite altered granite. Results for hole
OLS24-07 with an intersection in the same structure at shallower
depth are still pending. There were three other mineralised
intersections in hole OLS24-08, confirming that there are multiple
mineralised biotite-magnetite altered structures and veins across
the Djupedal prospect. The other intersections are listed
below:
·
1.0% TREO (19.4%
HREO) over 0.8m from 75.7m to
76.5m
·
0.71% TREO (34.5%
HREO) over 0.5m from 92.7m to
93.2m
·
0.52% TREO (16.9%
HREO) over 1.0m from 96.35 to
97.35m
Hole OLS24-09 was located in the
centre of the Djupedal prospect and drilled southwest across a
strong magnetic anomaly, which is associated with a surface working
and dumps, where a small number of grab samples assayed up to 1.04%
TREO. The hole intersected 0.68%
TREO (25% HREO) over 3.9m from 4.6m to 8.5m within a zone of 8.95m grading
0.42% TREO. This upper intersection is beneath the historic trench
which was worked for magnetite iron ore.
A lower zone was intersected
with 2.03% TREO (22.8% HREO) over 1.2m from
50.25m to 51.45m. This occurs within a broad altered low-grade zone
grading 0.33% TREO over 16m which is assumed to be at a shallow
angle to the core axis given the observed foliation.
The structures reported in the above
three holes at Djupedal represent new structures that have not
previously been drill tested, and they are different structures
from those tested in the first four holes announced 29th
October. The presence of multiple mineralised structures at
Djupedal, some of which are associated with wide zones of anomalous
or low-grade mineralisation, points to a system with scale which is
favourable and confirms that there are numerous exploration targets
with which any incoming partner can follow up.
Olserum West Prospect
OLS24-13 was the final hole of the
2024 program drilled at Olserum West, located over 300m northwest
of the historic Olserum resource. Results are pending for two other
holes at Olserum West. Hole OLS24-13 was located to test beneath an
outcrop which had surface mineralisation with 12m grading 0.46% in
a channel sample. Three separate zones were
intersected, the first of which is associated with a low-grade
alteration envelope of 0.27% TREO over 13.7m, and includes 0.81%
TREO (19.5% HREO) over 1.75m from 30.45m to 32.2m. This zone is
beneath the sampled surface outcrop. A second zone not fully
exposed at surface contained a very high-grade sample with 8.83%
TREO (16.1% HREO) over 0.5m from 41.9 to 42.4m. This is the
highest-grade sample of drill core to date at the Olserum project
surpassing a grade of 8.49% TREO over 0.43m in hole 12004 drilled
in the Olserum resource in 2012. A third narrow intersection
included a sample with 1.64% TREO (39%
HREO) over 0.65m from 80.15 to 80.8m. This hole at Olserum West
shows that the mineralisation extends for at least 300m northwest
of the resource and that there is potential to find higher-grade
mineralised material on the structure along strike or down-dip with
further exploration.
Conclusion
The drill results received to date
confirm that REE mineralisation extends well beyond the historic
Olserum resource and point to further REE potential at both Olserum
West and Djupedal. The multiple mineralised veins and altered and
sheared structures confirmed in these drill holes add further
evidence of a district-scale REE system at the Olserum project. It
is encouraging in a scout drilling program to see both higher-grade
samples such as 8.83% TREO at Olserum West and broad zones of
mineralisation in the wallrock.
Shear zone hosted systems are known
to often contain high-grade shoots which can be very rich and the
greater number of mineralised structures present, the better chance
of discovery for high-grade mineralisation associated with focused
hydrothermal fluids in such a mineralised shoot. The similar style
of alteration and mineralisation seen across the project leaves
potential for further discovery by incoming partners.
Results are outstanding for three
holes from Djupedal and two holes from Olserum West. These results
are expected later this year, subject to
laboratory turnaround times. The Company will provide
updates as required.
To support the Company's ongoing
outreach to potential partners, the results are being reported to
JORC standard with the inclusion of further detailed information in
the JORC tables at the end of this announcement.
Table 1: Coordinates and relevant information for EGT drill
holes at the Olserum REE project.
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HOLE ID
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PROSPECT
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EASTING SWEREF 99TM
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NORTHING SWEREF 99TM
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ELEVATION (m)
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AZIMUTH GYRO
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DIP
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TOTAL DEPTH (m)
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ASSAY RESULTS
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OLS24-01
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Djupedal
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578392
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6425419
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75
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54.7
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-45
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66.4
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29th Oct
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OLS24-02
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Djupedal
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578392.8
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6425419.8
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75
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53.9
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-75
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84.1
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29th Oct
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OLS24-03
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Djupedal
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578423
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6425407
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66
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53.1
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-43
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62.5
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29th Oct
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OLS24-04
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Djupedal
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578422.7
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6425406.7
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66
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53.8
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-74.4
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71.95
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29th Oct
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OLS24-05
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Djupedal
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578261
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6425317
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55
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45
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-45
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229.5
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Pending
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OLS24-06
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Djupedal
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578287
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6425332
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55
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224.5
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-44.6
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101.8
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This RNS
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OLS24-07
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Djupedal
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577843
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6425501
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47
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35.2
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-45
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89.55
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Pending
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OLS24-08
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Djupedal
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577821
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6425486
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47
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34.2
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-44.5
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111.9
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This RNS
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OLS24-09
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Djupedal
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578033
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6425364
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50
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217.8
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-43.8
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83.7
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This RNS
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OLS24-10
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Djupedal
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578030
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6425319
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50
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39.96
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-45.1
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104.4
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Pending
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OLS24-11
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Olserum West
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579730
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6424040
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65
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235
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-45
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162.9
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Pending
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OLS24-12
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Olserum West
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579730.8
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6424040.8
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65
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234.58
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-65
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222.65
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Pending
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OLS24-13
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Olserum West
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579694
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6424069
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43
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238.66
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-44.9
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111.75
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This RNS
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TOTAL
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1,503.1
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8/13
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Table 2: Summary of
intersections from new EGT drill hole results at the Olserum REE
project (Djupedal Prospect)
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HOLE ID
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From (m)
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To
(m)
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Interval (m)
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TREO %
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PMREO %
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NdPr Oxides %
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Dy
ppm
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Tb
ppm
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OLS24-06
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18.8
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19.3
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0.5
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1.14
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0.49
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0.22
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171
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34.1
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25.95
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28.5
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2.55
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1.6
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0.71
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0.31
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190
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42.3
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56.85
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58.5
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1.65
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0.86
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0.29
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0.15
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245
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42.3
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(within low-grade zone*)
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51.35
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58.5
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7.15
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0.35
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0.12
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0.06
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89
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15.9
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OLS24-08
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64.8
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67.2
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2.4
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1.18
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0.34
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0.16
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388
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60.1
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|
|
75.7
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76.5
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0.8
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1.01
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0.41
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0.19
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153
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30.3
|
|
|
92.7
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93.2
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0.5
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0.71
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0.24
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0.11
|
182
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27.6
|
|
|
96.35
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97.35
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1.0
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0.52
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0.22
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0.1
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62.8
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12.05
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OLS24-09
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4.6
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8.5
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3.9
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0.68
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0.29
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0.14
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143
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25.4
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(within low-grade zone*)
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1.8
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10.75
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8.95
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0.42
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0.17
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0.08
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92
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16
|
|
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50.25
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51.45
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1.2
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2.03
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0.79
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0.35
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377
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69.2
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(within low-grade zone*)
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49.05
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65.05
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16
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0.33
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0.12
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0.054
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68.5
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12.2
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OLS24-13
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30.45
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32.2
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1.75
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0.81
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0.36
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0.15
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92
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18.2
|
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(within low-grade zone*)
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25.0
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38.7
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13.7
|
0.27
|
0.11
|
0.048
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38.5
|
7.1
|
|
|
41.9
|
42.4
|
0.5
|
8.83
|
3.87
|
1.59
|
1,065
|
199.5
|
|
|
80.15
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80.8
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0.65
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1.64
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0.5
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0.21
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552
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92.7
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*includes internal dilution >2m with <0.4%
TREO
Figure 2 Section
showing drillhole OLS24-06 at Djupedal based on initial logging.
Results for OLS24-05 are pending. BMR - Biotite-magnetite rock
+/-REEs (intense alteration), BMRW - Biotite-magnetite wall rock
alteration. Location of historic hole DJU0301 cannot be verified
and is assumed to have missed the structure.
Figure 3 Section
showing drillhole OLS24-08 at Djupedal based on initial logging.
Results for OLS24-07 are pending.
Figure 4: Section showing drillhole OLS24-09 at Djupedal based
on initial logging. Results for OLS24-10 are
pending.
Figure 5 Section showing drillhole OLS24-13 at
Olserum West based on initial logging. Previous channel sample
results on surface are also shown.
Competent Person
All scientific and technical
information in this announcement has been prepared under the
supervision of and reviewed and approved by EurGeol Aiden Lavelle,
M.Sc., P.Geo., EGT's Chief Executive Officer. Mr Lavelle has
sufficient experience relevant to the style of mineralisation and
type of deposit under consideration, and to the activity which he
is undertaking to qualify as a Competent Person in accordance with
the guidance note for Mining, Oil & Gas Companies issued by the
London Stock Exchange in respect of AIM Companies, which outlines
standards of disclosure for mineral projects. Mr Lavelle consents
to the inclusion in this announcement of the matters based on his
information in the form and context in which it
appears.
APPENDIX 1 JORC TABLE 1 - JORC CODE, 2012 EDITION - TABLE
1
Section 1 Sampling Techniques and Data (Criteria in this
section apply to all succeeding sections.)
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Criteria
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Explanation
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Explanation
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Sampling techniques
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Nature and quality of sampling (e.g. cut channels, random
chips, or specific specialised industry standard measurement tools
appropriate to the minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments, etc). These examples
should not be taken as limiting the broad meaning of sampling.
• Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any measurement
tools or systems used.
•Aspects of the determination of mineralisation that are Material
to the Public Report. In cases where 'industry standard' work has
been done this would be relatively simple (e.g. 'reverse
circulation drilling was used to obtain 1 m samples from which 3 kg
was pulverised to produce a 30 g charge for fire assay'). In other
cases more explanation may be required, such as where there is
coarse gold that has inherent sampling problems. Unusual
commodities or mineralisation types (e.g. submarine nodules) may
warrant disclosure of detailed information
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Samples from 4 diamond drill holes
at the Djupedal prospect and one from Olserum West are reported
here. The four holes totalling 409.15m had 197 samples incl. QAQC
samples. 13 holes were drilled by EGT for a total of 1510.2m. Core
was NQ2 (50.6mm diameter). All diamond drill core samples analysed
were of half core cut by automated core saw. Approximately 1:30
samples were 1/4 core duplicates. The remaining half of the core
was returned to the core box as a permanent record of the drill
hole and will be stored at ALS or SGU archive facilities in Mala,
north Sweden. Samples were generally 1m long across mineralised
structures and on occasion where less than 1m to sample narrower
veins. Where low grade or broad alteration was intersected in
wallrock further from veins, samples of up to 2m were cut. Logging
and sampling was carried out according to normal industry
standards. Sampling extended into barren wallrock to close off
mineralisation.
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Drilling techniques
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Drill type (e.g. core, reverse circulation, open-hole hammer,
rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core
diameter, triple or standard tube, depth of diamond tails,
face-sampling bit or other type, whether core is oriented and if
so, by what method, etc).
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Diamond drilling retrieved full core
of NQ2 (50.6mm) diameter using standard wireline drilling with a
diamond bit and core barrel. The rig used was a DBC ESD9 MACHINA
owned and operated by Norse Diamond Drilling AS. Core was
orientated where possible and surveying was done with a Veracio
TruGyro, a non-magnetic true north-seeking instrument due to the
magnetic nature of the mineralisation. Downhole surveys
measurements collected between 3 and 20m intervals. Downhole gamma
surveys were conducted on hole OLS24-04 and all subsequent
holes.
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Drill sample recovery
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• Method of recording and
assessing core and chip sample recoveries and results
assessed.
• Measures
taken to maximise sample recovery and ensure representative nature
of the samples.
•
Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain
of fine/coarse material.
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Core recovery was excellent (>95%
up to 100%) due to the hard crystalline nature of the rock in all
holes. Only localised minor fracturing and core loss was noted with
late faults which did not usually coincide with mineralised
intersections.
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Logging
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• Whether core and chip samples have
been geologically and geotechnically logged to a level of detail to
support appropriate Mineral Resource estimation, mining studies and
metallurgical studies.
• Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc)
photography.
• The
total length and percentage of the relevant intersections
logged.
|
|
All core was logged for recovery,
RQD, solid core %, lithology and alteration with structural
measurements taken on oriented core where practical and useful. The
logging was followed by markup for sampling and photography of
core, both wet and dry. General coding was used for lithological
logging and was kept simple as the host lithology seldom differs
and it is mainly the degree of alteration and foliation of the
granite that varies due to later cross-cutting mineralised shears.
These exploration holes are not intended to be used as part of a
mineral resource estimate at this stage but data was recorded to
the standard to allow for future use in a resource
estimate.
|
|
Sub-sampling techniques and sample
preparation
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• If core, whether cut or sawn and
whether quarter, half or all core taken.
• If non-core, whether riffled, tube
sampled, rotary split, etc and whether sampled wet or
dry.
• For all
sample types, the nature, quality and appropriateness of the sample
preparation technique.
• Quality control procedures adopted for all
sub-sampling stages to maximise representivity of
samples.
• Measures
taken to ensure that the sampling is representative of the in-situ
material collected, including for instance results for field
duplicate/second-half sampling.
• Whether sample sizes are appropriate to
the grain size of the material being sampled.
|
All diamond drill core samples were
of half core cut by trained operators using an automated diamond
core saw at the ALS Pitea sample prep facility in North Sweden.
Barcoded ALS tickets were stapled to the box at the start of each
sample and clearly labelled by EGT geologists with cutting
instructions provided. 1:30 samples were 1/4 core duplicates to
test for grade variability.
Sample preparation was ALS method PREP-31BY (Crusher/rotary
splitter combo - Crush to 70% less than 2mm, rotary split off 1kg,
pulverise split to better than 85% passing 75 microns). Analysis
was by ALS method ME-MS81h (fusion ICP-MS/ICP-AES) which is an
appropriate method for ore-grade REEs and resistive minerals.
Sample size is appropriate for the grain size of the mineralisation
at the exploration drilling stage. Some larger diameter core should
be considered for resource drilling.
|
|
Quality of assay data and laboratory tests
|
• The nature, quality and
appropriateness of the assaying and laboratory procedures used
and whether the technique is considered partial or
total.
• For
geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in
determining the analysis including instrument make and model,
reading times, calibrations
factors applied and their derivation,
etc.
• Nature of
quality control procedures adopted (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable
levels of accuracy (i.e. lack of bias) and precision have been
established.
|
The assay technique is considered
near total and has consistently been used for all samples at
Olserum.
Blanks (marble
chips) and CRMs certified for REEs from Geostats Pty in Australia
were submitted every 30th sample in the sample stream. A 1/4 core
duplicate was also submitted for every 30 samples. Results for QAQC
samples are acceptable. Results for ¼ core duplicates pairs in
these batches show mixed results with 3 pairs with <20 %
variability but two pairs with >50% variability due to coarse
REE phosphate mineralisation.
|
|
Verification of sampling and assaying
|
• The verification of significant
intersections by either independent or alternative company
personnel.
• The use
of twinned holes.
•
Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic)
protocols.
• Discuss
any adjustment to assay data.
|
Mrs Emer Blackwell, PGeo, consultant
GIS and Database manager to the Company has also verified the
intersections reported here.
No twinned holes were drilled. Two holes per drill fence on
some sections (OLS24-07/08) give confidence on continuity of
mineralised structures and confirm the dip of the structures as
steep to the southwest.
There have been no adjustments to assays data. Assays less
than detection limit (DL) are set to half the DL for display
purposes. Any values >DL are capped at the DL.
|
|
Location of data points
|
• Accuracy and quality of surveys
used to locate drill holes (collar and down-hole surveys),
trenches, mine workings and other locations used in Mineral
Resource estimation.
• Specification of the grid system used.
• Quality and adequacy of topographic control.
|
Drill hole coordinates were recorded
with a Garmin GPS Map 64 and also checked with iPhone and Swedish
MyMap Lidar topography app on smart phone.
Grid system used is the Swedish National grid, SWEREF99TM.
The Company has acquired detailed lidar data for topography control
and checks.
|
|
Data spacing and distribution
|
• Data spacing for reporting of
Exploration Results.
•
Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity appropriate
for the Mineral Resource and Ore Reserve estimation procedure(s)
and classifications applied.
• Whether sample compositing has been applied.
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The scout drill program was not
intended to define a resource. The spacing has shown that
mineralisation is hosted in structures which are expected to extend
beyond the area of drilling based on surface mapping albeit it is
expected that grade will be variable within the structure. Further
results are pending from other drillholes located across 600m of
strike at the Djupedal prospect and also from two holes at Olserum
West.
Intersections are
reported based on length-weighted grades of mineralised
intervals.
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Orientation of data in relation to geological
structure
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• Whether the orientation of
sampling achieves unbiased sampling of possible structures and the
extent to which this is known, considering the deposit
type.
• If the
relationship between the drilling orientation and the orientation
of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if
material.
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Holes OLS24-08 and OLS24-013 were
drilled near perpendicular to the mineralised structures and
carried out to normal industry standards. Holes OLS24-06 and
OLS24-09 were drilled in the opposite direction. OLS24-09 had space
constraints and could not be drilled to the northeast across the
magnetic anomaly. Hole OLS24-06 was drilled as a scissor hole to
validate the exploration model and target another north dipping
structure. Both holes OLS24-06 and OLS24-09 are at a shallow angle
to the foliation and structure.
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Sample security
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The measures taken to ensure sample
security
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Core was kept in a locked facility
and securely strapped to pallets for transport direct to ALS Pitea
for cutting and assay.
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Audits or reviews
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• The results of any audits or
reviews of sampling techniques and data.
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Not applicable, these are initial
results of a scout drilling program.
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Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this
section.)
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Criteria
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Explanation
|
Explanation
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Mineral tenement and land tenure status
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Type, reference name/number,
location and ownership including agreements or material issues with
third parties such as joint ventures, partnerships, overriding
royalties, native title interests, historical sites, wilderness or
national park and environmental settings.
• The security of the tenure held at the time of reporting along
with any known impediments to obtaining a licence to operate in the
area.
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All permits relating to the Olserum
project are 100%-owned by European Mineral Exploration AB
(registered in Sweden) which is a 100%-owned subsidiary of European
Green Transition Plc. The workplan and drilling reported here
relates to the Olserum nr 21 permit (Ref 2017:91). The permit
area is 1099.2546Ha and is valid to 08/06/2025 which is the next
renewal date. This drill program and other works completed will
qualify the permit for renewal. The total tenement area including
contiguous permits is 102 sq. km. All permits are under 100%
ownership by EGT and free of royalties.
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Exploration done
by other parties
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Acknowledgment and appraisal of
exploration by other parties.
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Minimal fieldwork has been conducted
by other operators in the past and the focus was on the Olserum
resource area 2.3km southwest of Djupedal where a historic resource
estimate was defined by IGE and Tasman Metals (2013). The first
three holes drilled at the Olserum project was at Djupedal in 2003
but all 3 holes were drilled to the south, near parallel to the
mineralised structures which they failed to intersect. The area has
since been deforested with more exposure and a new deposit
model.
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Geology
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Deposit type, geological setting and
style of mineralisation.
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REE mineralisation is hosted in
biotite-magnetite altered shear zones crosscutting the red
hematised Olserum granite, a peraluminous alkali-feldspar granite.
The Olserum-Djupedal granite is interpreted to be an anatectic
granite that was produced by partial melting at ~1.80 Ga. Major
crustal scale structures, part of the Loftahammar-Linköping
Deformation Zone occur within 10km.
Monazite and xenotime (REE phosphates) host the
REEs with some associated apatite. Monazite and xenotime vary from
fine to very coarse-grained and usually occur within vein zones
with coarse flaky biotite. The mineralisation has many features in
common with iron-oxide-apatite-REE systems. Hydrothermal alteration
and a mylonitic shear fabric is extensive within the prospective
zones of the Olserum granite.
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Drill hole Information
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A summary of all information
material to the understanding of the exploration results including
a tabulation of the following information for all Material drill
holes:
• easting and northing of the drill hole collar
• elevation or RL (Reduced Level - elevation above sea level in
metres) of the drill hole collar • dip and azimuth of the hole
• down hole length and interception depth
• hole length.
• If the exclusion of this information is justified on the basis
that the information is not Material and this exclusion does not
detract from the understanding of the report, the Competent Person
should clearly explain why this is the case.
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Table included above.
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Data aggregation methods
|
In reporting Exploration Results,
weighting averaging techniques, maximum and/or minimum grade
truncations (e.g. cutting of high grades) and cut-off grades are
usually Material and should be stated.
• Where aggregate intercepts incorporate short lengths of high
grade results and longer lengths of low grade results, the
procedure used for such aggregation should be stated and some
typical examples of such aggregations should be shown in
detail.
• The assumptions used for any reporting of metal equivalent values
should be clearly stated.
|
Length weighted grades are reported
for samples above a cut-off of 0.4% TREO and with no greater than
2m of internal dilution. Broader mineralised zone are also
described but may be less than 0.4% TREO cut-off used in the
historical resource estimate.
Individual REE assays in ppm are converted to individual rare
earth oxide ('REO') assays based on oxide conversion factors. The
15 individual REO assays are summed to give a total REO (TREO).
Scandium (Sc) is not included in the TREO. The REEs analysed are
Ce, Dy, Er, Eu, Gd, Ho, La, Lu, Nd, Pr, Sm, Tb, Tm, Y and Yb is
included.
|
|
Relationship between mineralisation widths and intercept
lengths
|
• These relationships are
particularly important in the reporting of Exploration Results.
• If the geometry of the mineralisation with respect to the drill
hole angle is known, its nature should be reported.
• If it is not known and only the down hole lengths are reported,
there should be a clear statement to this effect (e.g. 'down hole
length, true width not known').
|
True width is estimated at 85-90% of
the down hole length for -45 degree holes drilled across the
structures (OLS24-08 and OLS24-13). The mineralised structure in
OLS24-08 dips 70 degrees to the southwest. At Olserum West the dip
is c.80-85 degrees to the north and true width is approximately 82%
of the reported intersection.
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Diagrams
|
Appropriate maps and sections (with
scales) and tabulations of intercepts should be included for any
significant discovery being reported These should include, but not
be limited to a plan view of drill hole collar locations and
appropriate sectional views.
|
Drill hole location map and sections
included in the RNS above.
|
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Balanced reporting
|
Where comprehensive reporting of all
Exploration Results is not practicable, representative
reporting of both low and high
grades and/or widths should be practiced to avoid misleading
reporting of Exploration
Results.
|
Samples are reported over the target
structures of significant width and grade. Other samples away from
these structures are not expected to have economic mineralisation
and may be sampled to improve the understanding of the
mineralisation/geochemistry etc.
|
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Other
substantive
exploration data
|
Other exploration data, if
meaningful and material, should be reported including (but not
limited to): geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater,
geotechnical and rock characteristics; potential deleterious or
contaminating substances.
|
Previous metallurgical testwork on a
composite sample from the Olserum resource has shown that monazite
and xenotime can be concentrated with standard flotation after
magnetite is removed using wet low-intensity magnetic separation.
Deleterious elements are considered low on average and not directly
proportional to REO grade. The highest-grade sample with 8.83% TREO
reported here has 210ppm U and 95 ppm Th
over 0.5m. The intersection in hole OLS24-08 with
1.18% TREO over 2.4m from (64.8m to 67.2m) has
36.9 ppm Th and 72.2ppm U.
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Further work
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• The nature and scale of planned
further work (e.g. tests for lateral extensions or depth
extensions or large-scale
step-out drilling).
• Diagrams clearly highlighting the areas of possible
extensions, including the main geological interpretations and
future drilling areas, provided this information is not
commercially sensitive.
|
The mineralisation is open along
strike and at depth and is expected to be variable in thickness and
grade along the shear zone structures. Further drilling along
strike and downdip of these holes is warranted to expand the scale
of the mineralisation and potentially locate higher grade shoots
within the shear system.
|
-ENDS-
Enquiries
European Green Transition plc
|
Aiden Lavelle, CEO
|
+44 (0) 208 058 6129
|
|
Jack Kelly, CFO
|
|
|
|
|
Panmure Liberum - Nominated Adviser and
Broker
|
James Sinclair-Ford / Dougie
McLeod / Mark Murphy / Kieron Hodgson / Rauf Munir
|
+ 44 (0) 20 7886 2500
|
Camarco - Financial PR
Notes to Editors
European Green Transition plc
(quoted on the AIM market of the London Stock Exchange under the
ticker "EGT") is a business operating in the green transition space
in Europe. EGT intends to capitalise on the opportunities created
by Europe's transition to a green, renewables-focused economy and
plans to expand its existing portfolio of green economy assets
through M&A, targeting revenue generating businesses that
support the green transition.
For more information, please go
to www.europeangreentransition.com
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