Ragnar Metals Sampling Identifies Heavy Rare Earth Potential In Sweden

Ragnar Metals Ltd (ASX: RAG) shares have gained after revealing promising rock chip sampling results from its Olserum North Heavy Rare Earth Project in Sweden.

The results from the samples taken during the recent field trip produced assays including:

  • 1.7% TREO (total rare earth oxides) with up to 40% of high-value HREO (heavy rare earth oxides). This includes HREO metals 684 ppm dysprosium and 80 ppm terbium; and
  • 0.6% TREO with up to 39% of high-value HREO.

Dysprosium and terbium

What is most attractive about Olserum North is the high percentage of heavy rare earth elements (HREE), particularly terbium and dysprosium.

Among various other essential uses, these elements are critical components in manufacturing performance technology solutions for clean energy.

Ragnar shares were trading ~12% higher intra-day, at A$0.019, following the release of the assays.

Potential for a substantial deposit

Ragnar Executive Director Eddie King said: “These new heavy rare earth rock assay findings have further confirmed exciting results, particularly for dysprosium and terbium.

 “These results reinforce our confidence in the region and the possibility of a substantial critical mineral deposit being discovered in this area, and we will commence the next phase of exploration work at Olserum North during the summer season.”

What’s next?

Ragnar’s recent rock sampling work provides compelling evidence for the prospectivity of its extensive 50 square kilometre ground holding.

Moreover, the discovery of HREE mineralisation reinforces Ragnar’s interpretation that numerous zones of HREE are likely to present.

Ragnar intends to follow up on these significant results this summer with a detailed channel sampling program across key outcrops.




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