Tasman Metals (CVE:TSM) said Wednesday that its Norra Karr heavy rare earth element project has been declared a property of "National Interest" under the Swedish Environment Act.
This classification is highly significant in that it protects Norra Karr from any land use that may compete with future mining, the company said.
This definition was based on the strategic value of the asset, the quality of its documentation, and whether the deposit represents a unique, natural asset.
The Swedish Geological Suvey (SGU) considered the EU's raw materials initiative, which proposed to gain long term access to raw material supply for Europe. Rare earths are identified as one of 14 critical metals and minerals for the EU within the next ten year period, and Norra Karr is one of the few potential sources for domestic production.
"REE's are of great importance in modern society and access to these elements is very limited within Europe. Norra Karr is a very important project from a material supply point of view, both for Sweden as well as for Europe. The mineral resource at Norra Kärr is the only NI 43-101 compliant REE resource in mainland Europe," SGU noted.
Norra Karr is located in southern Sweden, 300 kilometres southwest of the capital Stockholm and lies in mixed farming and forestry land. Mineralization occurs within the Norra Karr peralkaline nepheline syenite intrusion, which covers an area of 350 metres by 1100 metres, first discovered in 1906.
Tasman president and CEO, Mark Saxon, commented: "Norra Karr is a highly significant and strategic heavy rare earth element project within Europe, with capacity to be a major and long term supplier of these critical metals.
"Norra Karr is particularly enriched in dysprosium, and can provide secure supply to expanding green-tech and high-tech industries for many years to come."
Tasman's recently completed phase three program, which drilled 4,734 metres in 23 new holes and extended six existing ones, found 0.68% total rare earth oxides (TREOs) and 1.85% zirconium oxide (ZrO2) over 241.3 metres in drill hole NKA11038, at a cut off of 0.2%
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