Prospech (ASX:PRS) is preparing to conduct drilling and sampling activities across its portfolio of European critical mineral projects.

This includes the recently signed earn-in acquisition agreement to acquire 100% of Finnish company Bambra Oy, with the aim of earning a 100% interest in the Jokikangas REE, Korsnas REE and Saarenkylä lithium projects.

Prospech says the exploration program coincides with the European Commission's Critical Raw Materials Act, which sets targets for key raw materials, aiming to supply at least 10% of the EU's annual consumption for extraction by 2030.

The company is also attending a Finnish Government conference to evaluate opportunities for reprocessing tailings at the Korsnas REE Project.