Prospech Boosts Hafnium and Niobium Exploration in Finland Amidst Strong Market

Prospech

Australian junior mining company, Prospech, is significantly expanding its Jokikangas rare earth and hafnium project in Finland.  This strategic move comes as the prices of hafnium and niobium remain elevated, driven by robust demand from key industrial sectors.  Prospech's focus on these critical metals positions them well to capitalize on favorable market conditions.

Expanding the Jokikangas Project

Prospech initially acquired the Jokikangas project in 2023, where they subsequently discovered high-grade deposits of both niobium and hafnium.  The company has now secured an additional 4,852 hectares, bringing the total project area to an impressive 7,062 hectares. This expansion underscores Prospech’s commitment to thoroughly exploring and developing the site’s potential.

Leveraging Historical Data and Resampling Core Samples

The Jokikangas site exhibits iron-hosted, zircon-rich zones containing hafnium, which Prospech has visually identified. While these zones have been defined, the drill core samples remain largely unsampled for hafnium and other valuable elements. Notably, the high-grade zone boasts concentrations exceeding 1.5% niobium, zirconium, and rare earth elements, extending down to a depth of 250 meters. Prospech will utilize existing archived drill hole data from previous exploration activities conducted by companies such as Outokumpu as far back as 1981.  Additionally, they will leverage core resampling work performed by the Finnish geological survey (GTK) in 2020.  By resampling these historically preserved drill cores, Prospech aims to comprehensively assess the project's overall resource potential and refine their understanding of the deposit's characteristics.

Niobium Market Dynamics

The niobium market is currently experiencing a period of strength, primarily fueled by increased demand from the aerospace and defense industries.  Coupled with reduced supply from Brazil, a major niobium producer, this demand has propelled a steady increase in niobium columbite prices over the past two years.  Market analysts predict that the demand from these critical sectors will continue to bolster the niobium market well into 2025. This positive market outlook further reinforces the strategic importance of Prospech’s expanded exploration efforts.