Olympio Metals (ASX:OLY) has flagged high-grade rare earth elements (REE) from historical trenches at the Eurelia project.

Olympio Metals says REE and Nb (niobium) mineralisation are confirmed, up to 1.02% (10,250ppm) TREO (total rare earth oxides) and 819ppm Nb.

The company says the TREO grade is increasing trending south towards the Walloway Carbonatite, which is postulated to be the source of the mineralisation.

Olympio Metals says both projects are highly prospective for carbonatite-hosted rare earth mineralisation including neodymium and praseodymium, and niobium, which are all critical minerals used extensively in Electric Vehicles.