European Green Transition PLC said it had received permission from landowners and the Kalmar County board to drill at the Olserum rare earth project in Sweden.

Approval has been given for an initial drilling program of up to 9,000m across 42 drill holes, with the flexibility to alter the program within the agreed working areas.

Drilling is expected to start in the second half of 2024 with the two-year permit also allowing for a resource infill program at the existing Olserum resource and low-impact geophysical surveys there and at the Djupedal prospect where channel sample results are due shortly.

European Green Transition added it held a meeting for local stakeholders on 10 April at a public venue in Gamleby, Kalmar County, Sweden, near Olserum to explain its plans.

Geologists from the Swedish Geological Survey (SGU) have also visited the site as part of a new regional mapping programme in the Olserum region.

Prior to 2023, the SGU designated the Olserum as one of Sweden's projects of "National Interest".

 Aiden Lavelle, European Green Transition’s, chief executive commented:  "We welcome the approval for our drilling programme at our principal asset, the Olserum Rare Earth Project, which is a key step on the project development timeline.

Olserum was designated a project of National Interest by the Swedish Geological Survey and has the potential to become a significant European Rare Earth Element (REE) resource. 

In addition to the Djupedal prospect nearby, our activities in the area will create jobs in the community and investment in the region, as well as potentially providing Europe's industry with indigenous critical rare earth elements."