InvestSMART

European Resources Limited (ASX:ERE)

ALERT: Price-sensitive ASX Announcement for ERE
Current share price for ERE : $0.014 0.005 (55.56%)+
Announcement
Release
16 Jun 2026 9:24AM
Price at Release
$0.009
Full Release
download
Summary
European Resources Limited has significantly increased the Exploration Target for their Korsnäs rare earth element project by up to 190%, now estimated at 18 to 32 million tonnes with a Total Rare Earth Oxides (TREO) grade ranging from 0.8% to 1.0%. This update follows the company's Phase 2 passive seismic survey, which identified new target corridors and expanded the projection of known mineralized zones to a depth of -400 meters RL. The updated Exploration Target is separate from the company's existing Inferred Mineral Resource Estimate of 15.4 million tonnes at 1.0% TREO and highlights the potential for substantial resource growth at the Korsnäs site. The passive seismic survey has identified several new anomalies around the historic mine site, which remain untested by drilling, with further seismic surveying and drilling planned to aid in converting the Exploration Target into a more precise Mineral Resource Estimate.
Key Points
  • Korsnäs Exploration Target increased by up to 190% to 18-32 Mt at 0.8% to 1.0% TREO.
  • Phase 2 passive seismic survey identified new target corridors and anomalies.
  • Updated Exploration Target is additional to the existing 15.4 Mt Inferred Mineral Resource.
  • Exploration Target is conceptual in nature and requires drill testing for confirmation.
  • The target incorporates known mineralized zones projected to -400 m RL.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.