European Resources Lodges Two New Reservation Applications Covering 45.08 km² at Korsnäs REE Project in Finland

Manish Choudhary

04 November 2026 10:15 AM AEDT

European Resources Lodges Two New Reservation Applications Covering 45.08 km² at Korsnäs REE Project in Finland

Image Source: Krish Capital Pty Ltd

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European Resources Limited (ASX:ERE) has lodged reservation notification applications for two additional areas, Lagskogen and Linbacken, covering approximately 45.08 km² around its Korsnäs rare earth element (REE) project in Finland, as the company advances passive seismic, infill surveying and ionic leach soil sampling activities at the site.

Key Points

Lagskogen and Linbacken reservation notification applications together cover approximately 45.08 km², bringing total listed tenure to 64.98 km²
The Lagskogen application targets the interpreted south-southeastern continuation of an approximately 10 km magnetic lineament associated with known Korsnäs REE mineralisation; REE mineralisation at Lagskogen has not been established
Passive seismic surveying and ionic leach soil sampling are currently underway to support drill planning at Korsnäs
The previously reported Korsnäs Exploration Target of approximately 18 million to 32 million tonnes at 0.8% to 1.0% TREO remains unchanged; no new assay results are reported in this filing

Lagskogen and Linbacken Reservation Application Details

According to the filing, Bambra Oy, the company's wholly owned Finnish subsidiary, is the applicant for both reservation notification areas. Lagskogen, reference VA2026:0057, covers 17.37 km², while Linbacken, reference VA2026:0059, covers 27.71 km². The company stated that the applications are intended to support further district-scale assessment and do not increase the company's granted exploration permit area or its reported Mineral Resource or Exploration Target. Grant of pending applications is not assured. A reservation provides a basis for priority to apply for an exploration permit but does not itself authorise drilling or other activities requiring permission.

Magnetic Interpretation Supporting Lagskogen Application

Interpretation of historical airborne magnetic data acquired by the Geological Survey of Finland in 1976 and reprocessed by Resource Potentials Pty Ltd identified an approximately 10 km-long NNW–SSE trending magnetic lineament in the Korsnäs district. The lineament is spatially associated with known REE mineralisation at Korsnäs and is interpreted as potentially reflecting a significant geological structure. The historical survey has irregular flight-line spacing of commonly 300–400 m and locally approaching 500 m, compared with a nominal 200 m spacing. The filing notes the interpretation remains preliminary and that continuity of the inferred structure and its relationship to REE mineralisation require further investigation.

Ongoing Fieldwork and Exploration Program Status

Passive seismic surveying and ionic leach soil sampling are underway at Korsnäs to support drill planning. The filing states that completed station counts, sample numbers and analytical results will be reported when compiled and validated. Drill locations and the scale of any proposed program will depend on interpreted results and the access, permitting and funding position. The company intends to integrate magnetic interpretation with geological, passive seismic and geochemical information to prioritise follow-up exploration. Historical exploration records at Linbacken are also being reviewed, though those records have not been verified and are not reported in the filing.

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