Prospech (ASX:PRS) has made an agreement to earn up to 100% of Bambra Oy, a Finnish company with lithium and rare earth element (REE) exploration projects in Finland, and has also applied to extend the Kolba exploration licence in Slovakia by 3.8 times along strike of known mineralisation.

The Australian-based mineral exploration company is focused on acquiring and developing critical minerals and precious metals projects in Northern and Eastern European jurisdictions.

Prospech says it will be drilling at Kolba and resampling lithium targets at Saarenkylä and REE diamond drill core.

Following the announcement, shares of Prospech were unchanged at $0.024.