Prospech Expands Jokikangas Rare Earths and Hafnium Project Amid Surging Hafnium Prices

Melbourne, Australia – 6 January 2025 | Prospech Limited (ASX:PRS) (“Prospech” or “the Company”) is pleased to announce a significant expansion of its Jokikangas Rare Earths and Hafnium Project in Finland. This follows an increase in global hafnium prices, which has been driven by robust demand from the semiconductor and aerospace sectors around the globe. 

Key Highlights:

• Project Area Expanded: The Jokikangas Project now spans 7,062 hectares, which incorporates the newly-secured 4,852-hectare Honkamäki 2 Reservation Notification.

• Hafnium Price Surge: Hafnium recently traded at over US$4,800/kg, representing a 220% increase since 2021, which reinforces the strategic importance of the Jokikangas Project for Prospech’s positioning.

• Historical Assay Results: Previously reported diamond drill core assays include: 

  • JO13: 0.50m @ 7,556 ppm TREO1 and 940 ppm hafnium from 22.6m 

  • JO13: 0.30m @ 10,445 ppm TREO and 1,160 ppm hafnium from 32.8m 

  • KO06: 0.40m @ 2,865 ppm TREO and 510 ppm hafnium from 85.6m 

  • KA02: 0.20m @ 24,448 ppm TREO and 4,700 ppm niobium from 74.2m 

  • KA03: 0.15m @ 15,346 ppm TREO and 2,980 ppm niobium from 9.2m 

  • KA03: 0.17m @ 8,690 ppm TREO and 2,030 ppm niobium from 57.3m 

  • JO11: 0.20m @ 2,106 ppm TREO from 54.1m 

  • JO12: 0.20m @ 1,704 ppm TREO from 26.9m 

  • JO12: 0.40m @ 4,509 ppm TREO from 42.2m

• Strategic Location: The Finnish Government’s Geological Survey (GTK) identifies Jokikangas as part of a cluster of three REE/niobium/hafnium deposits, further enhancing exploration potential for Prospech. 

Jason Beckton, Managing Director of Prospech, stated:
“We acknowledge the significant impact of recent price increases in hafnium and niobium on the potential development of the Jokikangas project. Prospech geologists are organising a program to sample diamond drill core preserved by the Geological Survey of Finland (GTK) to further assess the project's potential. 

Iron-hosted, zircon-rich zones containing hafnium are visibly present at Jokikangas. These zones have been defined but the drill core remains largely unsampled for these critical elements. 

Hafnium and niobium are classified as high field strength elements (HFSE), characterised by their ability to form strong bonds with other atoms due to their unique electronic structures. This property underpins their value in a wide range of technological applications requiring strength, durability, and resistance to corrosion. 

Hafnium is widely used in control rods for nuclear reactors due to its exceptional neutron absorption capacity and in superalloys for high-temperature stability, making it critical for aerospace and energy applications. Similarly, niobium plays a vital role in steel and superalloy production, enhancing strength and temperature resistance in demanding environments. It is also essential in the development of superconducting materials for advanced technologies, further highlighting its importance in the aerospace, energy, and electronics industries.” 

Project Highlights:

• Critical Mineral Focus: Hafnium and niobium are classified as high field strength elements (HFSE), which are crucial for advanced technologies, including: 

  • Hafnium: Used in nuclear reactor control rods and aerospace superalloys due to its exceptional neutron absorption and high-temperature stability. 

  • Niobium: Enhances strength and temperature resistance in steel and superalloys and plays a key role in superconducting materials for energy and electronics.

• Strong Historical Data: The project benefits from archived drill core data, with over 81 historical drill holes available for review, offering significant potential for further resource expansion and exploration. 

Next Steps:

• Re-Sampling Program: Prospech will use handheld pXRF tools to guide re-sampling of historical drill cores, and then assess wider intervals for hafnium, niobium, and rare earth elements.

• Resource Evaluation: Initial sampling and assay results will form the basis for a JORC-compliant resource assessment, with a focus on high-grade zones.

For further information, please contact:

Jason Beckton
Managing Director
Prospech Limited
jason@prospech.com.au

Jane Morgan
Investor Relations
jm@janemorganmanagement.com.au

About Prospech Limited:

Prospech Limited is engaged in mineral exploration in Finland and Slovakia. It is focused on discovering, defining, and developing critical elements, such as rare earths, lithium, cobalt, copper, silver, and gold resources. It has a portfolio of 100% owned prospective cobalt and precious metals projects in Slovakia. It also holds 100% interest in prospective rare earth element (REE) projects. Its Finland Projects include Korsnas REE Project, Jokikangas, and Saarenkyla. The Company, through its wholly owned subsidiaries SLOK and Prospech SK, owns 100% of six exploration licenses, covering 161 square kilometers in Slovakia: Kolba exploration license with copper, cobalt, silver and nickel focus; Hodrusa-Hamre exploration license with gold and silver focus; Nova Bana exploration license with gold and silver focus; Pukanec exploration license with gold and silver focus; Cejkov-Zemplin exploration license with gold and silver focus, and Zlatno exploration license with copper and gold focus.

Jane Morgan
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au