REG - European Green Trns. - Initial Olserum Drilling Results
29/10/2024 07:00
For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241029:nRSc9416Ja&default-theme=true
RNS Number : 9416J European Green Transition PLC 29 October 2024
29 October 2024
European Green Transition plc
("European Green Transition", "EGT" or "the Company")
Initial Olserum Drilling Results
Positive initial results at Olserum REE project
European Green Transition (AIM: EGT), a company developing green economy
assets in Europe, is pleased to report positive results of the first four
drill holes from its drill programme at the Olserum Rare Earth Element ("REE")
project in Sweden ("Project").
Highlights
· Significant REE mineralisation confirmed within a shear zone
structure at Djupedal validating the structural model and district scale
potential of the Olserum REE Project.
· Results represent a major milestone in EGT's strategy to monetise the
Project through sale or partnership as EGT continues to direct its focus
towards revenue generating opportunities.
· Hole OLS24-01 intersected 1.5m grading 3.48% Total Rare Earth Oxides
(TREO) (32% Heavy Rare Earth Oxides (HREO)) including 0.5m grading 7.7% TREO
within the target structure.
· Hole OLS24-02 intersected 7.25m grading 0.72% TREO (25% HREO)
including 2.0m grading 1.18% TREO across the same structure.
· Hole OLS24-03 intersected 1.6m grading 1.45% TREO (28% HREO)
including 0.7m grading 2.3% TREO.
· Remainder of results expected in Q4-2024 subject to laboratory
turnaround times.
Aiden Lavelle, Chief Executive Officer of European Green Transition, said:
"The objective of our drill programme at the Olserum REE project was to
derisk the Project and support the monetisation of the Project in the near
future. The initial results provide strong validation of the Project's
district scale REE potential. We look forward to receiving the remainder of
the results later this year, which will be crucial as we look to realise value
through a sale or partnership of the Project, enabling EGT to direct its focus
towards revenue generating opportunities in the green energy transition."
Summary of Drill Results
EGT has received assay results for the first four 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. The first four holes were
collared close to small-scale historic iron workings and dumps and targeted an
interpreted REE-mineralised structure beneath the workings. EGT had previously
sampled high-grade and coarse REE-phosphate (monazite and xenotime)
mineralisation in the surface dumps with sample results of up to 20.45% TREO.
Figure 1: Olserum drill hole map showing recent EGT drill holes and holes with
results reported here.
Hole OLS24-01 and OLS24-02 were located at the same drill pad and drilled at
-45 and -75 degrees respectively to target the structure with two
intersections beneath the northern workings. Both holes intersected altered
and sheared granite before intersecting the main target structure which dips
70 degrees to the southwest. Hole OLS24-03 and OLS24-04 were located at a
drill pad 30m east-southeast of the first two holes and drilled at -43 and -74
degrees respectively to target the same structure beneath the southerly
surface workings.
Hole OLS24-01 intersected 1.5m grading 3.48% TREO from 41.0 to 42.5m including
0.5m grading 7.7% TREO consistent with the main zone of visible coarse
monazite and xenotime. The HREO grade is 1.5m grading 1.12% HREO representing
32% HREO/TREO. This intersection occurs within a lower grade broader zone
averaging 0.85% TREO over 7.9m. A single sample from a biotite-magnetite vein
with visible monazite crystals at 54.1m had a grade of 1.79% TREO (27% HREO)
from 54.0 to 54.5m.
Hole OLS24-02 intersected 7.25m grading 0.72% TREO from 63.6 to 70.85m
including 2.0m grading 1.18% TREO. The HREO grade is 0.18% HREO representing
25% HREO/TREO. This hole had a wider zone of strong pervasive
biotite-magnetite alteration from 57.2m to 76.06m around the core of the
mineralised zone. Within the centre of this zone is a vein with visible coarse
monazite and xenotime at 67.1m.
Hole OLS24-03 intersected 1.6m grading 1.45% TREO from 32.95m to 34.55m
including 0.7m grading 2.3% TREO. The HREO grade is 0.4% HREO representing 28%
HREO/TREO. The main mineralised structure consists of a broad alteration zone
in sheared biotite-magnetite altered granite and some stronger zones of
biotite and magnetite from 20cm to 70cm in core at 32.95m, 33.85m and 35.2m.
OLS24-04 intersected diffuse zones with lower grade including 4.05m grading
0.16% TREO (33% HREO) from 8.25m to 12.3m, 0.5m grading 0.22% TREO (71.45%
HREO) on the main structure from 42.0m to 42.55m and a separate sample from
62.9m to 63.4m grading 0.52% TREO (43.9% HREO). Alteration around the main
zone was more broad from 31.1m to 42m but lacking a strong or focused vein of
high-grade mineralisation. It is to be expected that there will be some
variability in widths and grades of veins within the mineralised shear
structure and this is a common feature of shear-zone hosted mineral deposits.
All four holes generally intersected a broad zone of biotite-altered and
sheared granite in the hanging wall above the structure which included some
narrow biotite-magnetite veins. Beneath the main structure, in the footwall,
the holes intersected weakly altered to unaltered red Olserum granite
consistent with surface mapping.
In summary, the mineralised structure where the workings are located is a
bounding structure (on the northeast side) to the strong alteration and
shearing at the 1km-long Djupedal prospect. The first drill results here in
the eastern part of the prospect give proof of concept for shear zone hosted
REE mineralisation which has been tested to a vertical depth of 65m beneath
the workings. Results for the deeper hole OLS24-05, once received, are
expected to increase the depth extent of mineralisation to >150m on this
structure. These results bode well for confirming a district-scale REE system
in the wider Olserum project area.
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.
HOLE ID PROSPECT EASTING SWEREF 99TM NORTHING SWEREF 99TM ELEVATION (m) AZIMUTH GYRO DIP TOTAL DEPTH (m) ASSAY RESULTS
OLS24-01 Djupedal 578392 6425419 75 54.7 -45 66.4 This RNS
OLS24-02 Djupedal 578392.8 6425419.8 75 53.9 -75 84.1 This RNS
OLS24-03 Djupedal 578423 6425407 66 53.1 -43 62.5 This RNS
OLS24-04 Djupedal 578422.7 6425406.7 66 53.8 -74.4 71.95 This RNS
OLS24-05 Djupedal 578261 6425317 55 45 -45 229.5 Pending
OLS24-06 Djupedal 578287 6425332 55 224.5 -44.6 101.8 Pending
OLS24-07 Djupedal 577843 6425501 47 35.2 -45 89.55 Pending
OLS24-08 Djupedal 577821 6425486 47 34.2 -44.5 111.9 Pending
OLS24-09 Djupedal 578033 6425364 50 217.8 -43.8 83.7 Pending
OLS24-10 Djupedal 578030 6425319 50 39.96 -45.1 104.4 Pending
OLS24-11 Olserum West 579730 6424040 65 235 -45 162.9 Pending
OLS24-12 Olserum West 579730.8 6424040.8 65 234.58 -65 222.65 Pending
OLS24-13 Olserum West 579694 6424069 43 238.66 -44.9 111.75 Pending
TOTAL :13 1,503.1 4/13
Table 2: Summary of intersections from the first four EGT drill holes at the
Olserum REE project (Djupedal Prospect)
HOLE ID From (m) To (m) Interval (m) TREO % PMREO % NdPr Oxides % Dy ppm Tb ppm
OLS24-01 41.0 42.5 1.5 3.48 0.76 0.66 816 137
including 42.0 42.5 0.5 7.70 1.77 0.78 1,570 281
(within anomalous zone*) 37.15 45.05 7.9 0.86 0.188 0.162 194 32.8
OLS24-02 63.6 70.85 7.25 0.72 0.153 0.134 135 23.6
including 64.85 66.85 2.0 1.18 0.26 0.23 178 33.3
OLS24-03 32.95 34.55 1.6 1.45 0.38 0.33 333 58.2
including 33.85 34.55 0.7 2.3 0.58 0.51 548 66.3
OLS24-04 8.25 12.30 4.05 0.16 0.033 0.028 40 26.9
and 62.9 63.4 0.5 0.52 0.095 0.075 148 22
*includes internal dilution >2m with <0.4% TREO
Figure 1 Section showing drillholes OLS24-01 and OLS24-02 beneath the historic
workings at Djupedal. BMR - Biotite-magnetite rock +/-REEs (intense
alteration), BMRW - Biotite-magnetite wall rock alteration.
Figure 2 Section showing drillholes OLS24-03 and OLS24-04 beneath the historic
workings at Djupedal. BMR - Biotite-magnetite rock +/-REEs (intense
alteration), BMRW - Biotite-magnetite wallrock alteration.
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.)
Criteria Explanation Explanation
Sampling techniques Nature and quality of sampling (e.g. cut channels, random chips, or specific Samples from the first 4 diamond drill holes at the Djupedal prospect are
specialised industry standard measurement tools appropriate to the minerals reported here. The four holes totalling 284.95m had 121 samples incl. QAQC
under investigation, such as down hole gamma sondes, or handheld XRF samples. 13 holes were drilled by EGT for a total of 1510.2m. Core was NQ2
instruments, etc). These examples should not be taken as limiting the broad (50.6mm diameter). All diamond drill core samples analysed were of half core
meaning of sampling. cut by automated core saw. Approximately 1:30 samples were 1/4 core
• Include reference to measures taken to ensure sample representivity and duplicates. The remaining half of the core was returned to the core box as a
the appropriate calibration of any measurement tools or systems used. permanent record of the drill hole and will be stored at ALS or SGU archive
•Aspects of the determination of mineralisation that are Material to the facilities in Mala, north Sweden. Samples were generally 1m long across
Public Report. In cases where 'industry standard' work has been done this mineralised structures and on occasion where less than 1m to sample narrower
would be relatively simple (e.g. 'reverse circulation drilling was used to veins. Where low grade or broad alteration was intersected in wallrock further
obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for from veins, samples of up to 2m were cut. Logging and sampling was carried out
fire assay'). In other cases more explanation may be required, such as where according to normal industry standards. Sampling extended into barren wallrock
there is coarse gold that has inherent sampling problems. Unusual commodities to close off mineralisation.
or mineralisation types (e.g. submarine nodules) may warrant disclosure of
detailed information
Drilling techniques Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air Diamond drilling retrieved full core of NQ2 (50.6mm) diameter using standard
blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or wireline drilling with a diamond bit and core barrel. The rig used was a DBC
standard tube, depth of diamond tails, face-sampling bit or other type, ESD9 MACHINA owned and operated by Norse Diamond Drilling AS. Core was
whether core is oriented and if so, by what method, etc). 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.
Drill sample recovery • Method of recording and assessing core and chip sample recoveries and Core recovery was excellent (>95% up to 100%) due to the hard crystalline
results assessed. nature of the rock in all holes. Only localised minor fracturing and core loss
• Measures taken to maximise sample recovery and ensure representative was noted with late faults which did not usually coincide with mineralised
nature of the samples. intersections.
• 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.
Logging All core was logged for recovery, RQD, solid core %, lithology and alteration
• Whether core and chip samples have been geologically and geotechnically with structural measurements taken on oriented core where practical and
logged to a level of detail to support appropriate Mineral Resource useful. The logging was followed by markup for sampling and photography of
estimation, mining studies and metallurgical studies. core, both wet and dry. General coding was used for lithological logging and
• Whether logging is qualitative or quantitative in nature. Core (or was kept simple as the host lithology seldom differs and it is mainly the
costean, channel, etc) photography. degree of alteration and foliation of the granite that varies due to later
• The total length and percentage of the relevant intersections logged. 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 • If core, whether cut or sawn and whether quarter, half or all core taken. All diamond drill core samples were of half core cut by trained operators
• If non-core, whether riffled, tube sampled, rotary split, etc and using an automated diamond core saw at the ALS Pitea sample prep facility in
whether sampled wet or dry. North Sweden. Barcoded ALS tickets were stapled to the box at the start of
• For all sample types, the nature, quality and appropriateness of the each sample and clearly labelled by EGT geologists with cutting instructions
sample preparation technique. provided. 1:30 samples were 1/4 core duplicates to test for grade variability.
• Quality control procedures adopted for all sub-sampling stages to
Sample preparation was ALS method PREP-31BY (Crusher/rotary splitter combo -
maximise representivity of samples. Crush to 70% less than 2mm, rotary split off 1kg, pulverise split to better
• Measures taken to ensure that the sampling is representative of the than 85% passing 75 microns). Analysis was by ALS method ME-MS81h (fusion
in-situ material collected, including for instance results for field ICP-MS/ICP-AES) which is an appropriate method for ore-grade REEs and
duplicate/second-half sampling. resistive minerals.
• Whether sample sizes are appropriate to the grain size of the material
Sample size is appropriate for the grain size of the mineralisation at the
being sampled. 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 The assay technique is considered near total and has consistently been used
procedures used and whether the technique is considered partial or total. for all samples at Olserum.
• For geophysical tools, spectrometers, handheld XRF instruments, etc, the Blanks (marble chips) and CRMs certified for REEs from Geostats Pty in
parameters used in Australia were submitted every 30th sample in the sample stream. A 1/4 core
determining the analysis including instrument make and model, reading times, duplicate was also submitted for every 30 samples. Results for QAQC samples
calibrations are acceptable. Results for ¼ core duplicates pairs show that there is some
factors applied and their derivation, etc. variability (>20%) in two of the three duplicates analysed as part of this
• Nature of quality control procedures adopted (e.g. standards, blanks, batch and this is likely due to presence of coarse REE phosphate
duplicates, external laboratory checks) and whether acceptable levels of mineralisation.
accuracy (i.e. lack of bias) and precision have been established.
Verification of sampling and assaying • The verification of significant intersections by either independent or Mrs Emer Blackwell, PGeo, consultant GIS and Database manager to the Company
alternative company personnel. has also verified the intersections reported here.
• The use of twinned holes. No twinned holes were used but two holes per drill fence are reported here to
• Documentation of primary data, data entry procedures, data verification, give confidence on continuity of mineralised structures and confirm the dip of
data storage (physical and electronic) protocols. the structures.
• Discuss any adjustment to assay data. 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 Drill hole coordinates were recorded with a Garmin GPS Map 64 and also checked
down-hole surveys), trenches, mine workings and other locations used in with iPhone and Swedish MyMap Lidar topography app on smart phone.
Mineral Resource estimation.
Grid system used is the Swedish National grid, SWEREF99TM.
• Specification of the grid system used.
The Company has acquired detailed lidar data for topography control and
• Quality and adequacy of topographic control. checks.
Data spacing and distribution • Data spacing for reporting of Exploration Results. The scout drill program was not intended to define a resource. The spacing has
• Whether the data spacing and distribution is sufficient to establish the shown that mineralisation is hosted in structures which are expected to extend
degree of geological and grade continuity appropriate for the Mineral Resource beyond the area of drilling based on surface mapping albeit it is expected
and Ore Reserve estimation procedure(s) and classifications applied. that grade will be variable within the structure. Further results are pending
• Whether sample compositing has been applied. from other drillholes located up to 600m away from the holes reported here.
Intersections are reported based on length-weighted grades of mineralised
intervals.
Orientation of data in relation to geological structure • Whether the orientation of sampling achieves unbiased sampling of possible Assays reported here are from holes drilled near perpendicular to the
structures and the extent to which this is known, considering the deposit mineralised structures and carried out to normal industry standards.
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.
Sample security The measures taken to ensure sample security Core was kept in a locked facility and securely strapped to pallets for
transport direct to ALS Pitea for cutting and assay.
Audits or reviews • The results of any audits or reviews of sampling techniques and data. Not applicable, these are initial results of a scout drilling program.
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
• 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 show that there is some
variability (>20%) in two of the three duplicates analysed as part of this
batch and this is likely due to presence of 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 used but two holes per drill fence are reported here to
give confidence on continuity of mineralised structures and confirm the dip of
the structures.
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.
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 up to 600m away from the holes reported here.
Intersections are reported based on length-weighted grades of mineralised
intervals.
Orientation of data in relation to geological structure
• 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.
Assays reported here are from holes drilled near perpendicular to the
mineralised structures and carried out to normal industry standards.
Sample security
The measures taken to ensure sample security
Core was kept in a locked facility and securely strapped to pallets for
transport direct to ALS Pitea for cutting and assay.
Audits or reviews
• The results of any audits or reviews of sampling techniques and data.
Not applicable, these are initial results of a scout drilling program.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria Explanation Explanation
Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or All permits relating to the Olserum project are 100%-owned by European Mineral
material issues with third parties such as joint ventures, partnerships, Exploration AB (registered in Sweden) which is a 100%-owned subsidiary of
overriding royalties, native title interests, historical sites, wilderness or European Green Transition Plc. The workplan and drilling reported here relates
national park and environmental settings. to the Olserum nr 21 permit (Ref 2017:91). The permit area is 1099.2546Ha
• The security of the tenure held at the time of reporting along with any and is valid to 08/06/2025 which is the next renewal date. This drill program
known impediments to obtaining a licence to operate in the area. 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.
Exploration done Acknowledgment and appraisal of exploration by other parties. Minimal fieldwork has been conducted by other operators in the past and the
by other parties 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.
Geology Deposit type, geological setting and style of mineralisation. 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 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.
Drill hole Information A summary of all information material to the understanding of the exploration Table included in the RNS above.
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.
Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum Length weighted grades are reported for samples above a cut-off of 0.4% TREO
and/or minimum grade truncations (e.g. cutting of high grades) and cut-off and with no greater than 2m of internal dilution.
grades are usually Material and should be stated. Individual REE assays in ppm are converted to individual rare earth oxide
• Where aggregate intercepts incorporate short lengths of high grade results ('REO') assays based on oxide conversion factors. The 15 individual REO assays
and longer lengths of low grade results, the procedure used for such are summed to give a total REO (TREO). Scandium (Sc) is not included in the
aggregation should be stated and some typical examples of such aggregations TREO. The REEs analysed are Ce, Dy, Er, Eu, Gd, Ho, La, Lu, Nd, Pr, Sm, Tb,
should be shown in detail. Tm, Y and Yb is included.
• The assumptions used for any reporting of metal equivalent values should
be clearly stated.
Relationship between mineralisation widths and intercept lengths • These relationships are particularly important in the reporting of True width is estimated at 90% of the down hole length for -45 degree holes
Exploration Results. and 64% for - 70 degree holes assuming a 70 degree dip for the structure.
• If the geometry of the mineralisation with respect to the drill hole angle
is known, its nature should be reported. Mineralised structures dip steeply 70-80 degrees to the southwest.
• 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').
Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts Drill hole location map and sections included in the RNS above.
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.
Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, Samples are reported over the target structures of significant width and
representative grade. Other samples away from these structures are not expected to have
reporting of both low and high grades and/or widths should be practiced to economic mineralisation and may be sampled to improve the understanding of the
avoid misleading mineralisation/geochemistry etc.
reporting of Exploration Results.
Other Other exploration data, if meaningful and material, should be reported Previous metallurgical testwork on a composite sample from the Olserum
substantive including (but not limited to): geological observations; geophysical survey resource has shown that monazite and xenotime can be concentrated with
exploration data results; geochemical survey results; bulk samples - size and method of standard flotation after magnetite is removed using wet low-intensity magnetic
treatment; metallurgical test results; bulk density, groundwater, geotechnical separation. Deleterious elements are considered low. The highest-grade
and rock characteristics; potential deleterious or contaminating substances. intersection reported here has 69ppm weighted average U and 127ppm weighted
average Th over the 1.5m intersection grading 3.48% TREO.
Further work • The nature and scale of planned further work (e.g. tests for lateral The mineralisation is open along strike and at depth and is expected to be
extensions or depth variable in thickness and grade along the shear zone structure. Further
extensions or large-scale step-out drilling). drilling along strike and downdip of these holes is warranted to expand the
• Diagrams clearly highlighting the areas of possible extensions, scale of the mineralisation and potentially locate higher grade shoots within
including the main geological interpretations and future drilling areas, the shear system.
provided this information is not commercially sensitive.
-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 + 44 (0) 20 7886 2500
Munir
Camarco - Financial PR
Billy Clegg, Elfie Kent, Poppy Hawkins europeangreentransition@camarco.co.uk
(mailto:europeangreentransition@camarco.co.uk) + 44 (0) 20 3757 4980
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
(https://www.europeangreentransition.com/) or follow us on X (formerly
Twitter ) (https://twitter.com/EuropeanGreenT) and LinkedIn
(https://www.linkedin.com/company/european-green-metals-ltd) .
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DRLQKFBDFBDDFKBRecent news on European Green Transition
See all newsREG - European Green Trns. - Board Changes
AnnouncementREG - European Green Trns. - Extension granted for exploration licences
AnnouncementREG - European Green Trns. - Final Olserum Drilling Results
AnnouncementREG - European Green Trns. - Next Phase of Results from Olserum REE Project
AnnouncementREG - European Green Trns. - Initial Olserum Drilling Results
Announcement