Neotech Metals Corp. Reports 190 Meters of 0.23% Nb2O5 and 0.41% TREO Including 54 Meters of 0.32% Nb2O5 and 0.54% TREO at the Western Pike Zone Boundary at Hecla-Kilmer and Completes Debt Conversion
Neotech Metals Corp. Reports 190 Meters of
0.23% Nb2O5 and 0.41% TREO Including 54
Meters of 0.32% Nb2O5 and 0.54% TREO at the
Western Pike Zone Boundary at Hecla-Kilmer
and Completes Debt Conversion
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) - Neotech Metals Corp. (CSE: NTMC)
(OTCQB: NTMFF) (FSE: V690) (
"Neotech"
or
"the Company"
) is pleased to announce additional
geochemical assay results from its exploratory diamond drilling program of the Niobium and Rare Earth
Element (
"REE"
) carbonatites located at the Hecla-Kilmer ("
H/K"
) Project near to Otter Rapids in
Northern Ontario. The Company also has completed e a shares-for-debt settlement.
Neotech is reporting assay results from three drill holes: HK24-028 from the West Pike Zone, HK24-030
from the South Rim, and HK24-025 from the Northeast Rim of the Hecla-Kilmer Project. These holes
were part of a broader 12-hole program totaling 5,047 meters, completed during the Fall 2024 drill
campaign. The 2024 drill program (see Figures 1 & 2) was designed to test for intervals of Total Rare
Earth Oxide ("
TREO
") and Niobium Oxide ("
Nb
O
") within the alkaline intrusive carbonatite complex.
Highlights from HK24-028 (Western Pike Zone)
From (m)
To (m)
Interval (m)
TREO* (%)
Nb2O5 (%)
106
296
190
0.41
0.23
-Including-
214
268
54
0.54
0.32
Reagan Glazier, CEO, said in comment, "We are pleased to report another strong set of drill results that
reinforce the scale and continuity of rare earth and critical mineralization at Hecla-Kilmer. These broad
intercepts, coupled with the recently announced positive metallurgical results, position Hecla-Kilmer as a
highly compelling, strategically important domestic rare earth project. As global concerns surrounding the
secure supply of critical minerals continue to intensify, the combination of promising leachability and
potential large-scale mineralization underscores Hecla-Kilmer's value as a foundational asset in the
North American supply chain. With the system open in multiple directions, we remain focused on
advancing exploration and unlocking its full potential."
Map figure 1 - Pike Zone drill collars and associated drill results.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9768/248996_6f7d72c8d44f58aa_001full.jpg
Highlights from HK24-030 (South Rim Prospect)
From (m)
To (m)
Interval (m)
TREO* (%)
Nb2O5(%)
48
64
16
0.41
0.28
-And-
196
210
14
0.40
0.20
-And-
218
246
28
0.52
0.09
Highlights from HK24-025 (East Rim Prospect)
From (m)
To (m)
Interval (m)
TREO* (%)
182
256
160
0.33
Map figure 2 - Regional drill map showing the extent of all drill testing thus far at Hecla-Kilmer.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9768/248996_6f7d72c8d44f58aa_002full.jpg
The 2024 exploration drill program was designed to confirm and validate the previous geophysical
surveys that were conducted at Hecla Kilmer in 2020 as well as to identify the structures and mineralized
zones present as a preliminary assessment of the site.
The results are currently being evaluated to
identify potential next phases of development for Hecla-Kilmer.
Technical studies will continue in order to
advance metallurgical testing and other project assessments for the site.
Upcoming 2025 Exploration Program
Future exploration programs will be guided by the ongoing integration of field data to refine geological,
geochemical, and structural models, with the goal of identifying and prioritizing new targets for
evaluation. Additional metallurgical test work will also continue to support project advancement and
inform potential development pathways.
The Company wishes to focus on additional drilling to delineate a resource to further develop the asset
at Hecla-Kilmer. The company also has a drill program slated for its TREO project (fully funded) to test
the high-grade mineralization found in bedrock samples from its 2024 field program.
Methodology and Quality Assurance/Quality Control ("QA/QC")
Drillholes were drilled with either NQ or NTW core diameters at various inclined angles, and the reported
assay intervals represent downhole core lengths. The true thickness of the mineralization is unknown at
this time. The material produced from the diamond drillholes was sampled at two metre intervals with the
core split in half, resulting in average sample sizes of 2-4 kg. Half of the core is sent to the analytical
laboratory, and the other half is kept in storage as required by industry standards and by Ontario
provincial regulations. The original core was logged, photographed, and sampled on location by
Neotech personnel.
The bagged and catalogued samples were delivered to Activation Laboratories Ltd. (
"Actlabs"
) in
Timmins, Ontario, for initial preparation and final analysis. All sample preparation and analytical work
referenced in this report were conducted by Actlabs, an independent geoanalytical laboratory accredited
to ISO-IEC 17025:2017 and ISO 9001:2015 standards. In addition to Actlabs' internal QA/QC protocols,
Neotech Metals incorporated its own control samples in each batch submitted for analysis.
Quality control samples, including blanks, duplicates, and standards (Certified Reference Materials)
were inserted into the sample series at set intervals. For all analysis methods, the minimum number of
QA/QC samples was
two
CRM standards per hole,
one
duplicate and/or
one
blank for every 10
samples taken, for a total of 10% QA/QC samples for the entire dataset. The procedures were
implemented during the sample collection, preparation and analytical stages to ensure the robustness
and reliability of the analytical results. QA/QC data was also verified by an independent third party to
ensure the validity of the datasets.
All analytical results reported herein have passed internal QA/QC review and compilation. All assay
results of drill core samples were provided by Actlabs, a Certified Laboratory, which performed their
measure of the concentration of rare earth elements (REE) with the analytical method that uses lithium
borate fusion prior to the second stage sodium peroxide fusion and Inductively Coupled Plasma Mass
Spectrometry (ICP-MS). Major Element Oxides were done using the lithium borate analytical method and
Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES).
The QA/QC program has been designed in accordance with the
Canadian Institute of Mining,
Metallurgy and Petroleum
(CIM) Exploration Best Practice Guidelines. The procedures implemented
are considered appropriate, accurate, and reliable for this style of mineralization, ensuring the integrity
and quality of the assay data.
Debt Settlement
The Company also announces that it has settled $139,313.23 in debt owed, in consideration for the
issuance of 1,160,944 common shares of the Company (the "
Shares
") at a deemed price of $0.12 per
Share (the "
Debt Settlement
"). The Company has effected the Debt Settlement to preserve its cash for
working capital.
The Debt Settlement will constitute a "related party transaction" for the purposes of Multilateral Instrument
61-101 -
Protection of Minority Security Holders in Special Transactions
("
MI 61-101
"), given 0695809
BC Ltd. is a company wholly-owned by Robert Krause (65,625 Shares), Canmex Consulting & Leasing
is a company wholly-owned by Brian Thurston (21,875 Shares) (both directors of the Company) and
Philip Ellard, the Company's CFO (52,000 Shares). The Company is relying upon exemptions from the
formal valuation and minority shareholder approval requirements under MI 61-101 in respect of the Debt
Settlement, on the basis that no securities of the Company are listed on a "specified market" (Section
5.5(b) of MI 61-101) and the fair market value of the Debt Settlement does not exceed $2,500,000
(Section 5.7(1)(b) of MI 61-101). Neither the Company, nor, to the knowledge of the Company after
reasonable inquiry, have knowledge of any material information concerning the Company or its
securities that has not been generally disclosed. The Company did not file a material change report
more than 21 days before the date on which the Debt Settlement was agreed upon in order to secure the
Debt Settlement in an expeditious manner.
The Shares issued in connection with the Debt Settlement will not be subject to a hold period as
approved by the Canadian Securities Exchange.
ON BEHALF OF THE BOARD
Reagan Glazier, Chief Executive Officer and Director
Neotech Metals Corp.
About the Neotech Metals
Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing
valuable mineral resources within promising jurisdictions around the world. With a strong commitment to
environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact
while maximizing the potential of its exploration properties.
The company has a diversified portfolio of Rare-Earth Element and Rare Metals projects, including the
Hecla-Kilmer, located 20 km from the Otter Rapids 180MW hydroelectric power generation station and
active Ontario Northway railway, along with its TREO and Foothills projects located in British Columbia.
All three projects are 100% wholly-owned.
Qualified Person
Technical Information for this news release has been prepared in accordance with the Canadian
regulatory requirements set out in National Instrument 43-101. Jared Galenzoski VP Exploration, P.Geo.,
and Qualified Person, has reviewed and approved all of the data and statements made for this news
release.
Contact Information
Reagan Glazier, CEO and Director
+1 403-815-6663
*
TREO (Total Rare-Earth Oxides) has been used to express the results in the press release. TREO is calculated by converting the elemental
ppm to Rare-Earth Oxides using a conversion factor and is the summation of CeO
2
+ La
2
O
3
+ Pr
6
O
11
+ Nd
2
O
3
+ Sm
2
O
3
+ Eu
2
O
3
+ Gd
2
O
3
+
Tb
4
O
7
+ Dy
2
O
3
+ Ho
2
O
3
+ Er
2
O
3
+ Tm
2
O
3
+ Yb
2
O
3
+ Lu
2
O
3
+ Y
2
O
3
.
**
PMREO (Permanent Magnet Rare-Earth Oxides) has been used to express the results in the press release. TREO is calculated by converting
the elemental ppm to Rare-Earth Oxides using a conversion factor and is the summation of Pr
6
O
11
+ Nd
2
O
3
+ Tb
4
O
7
+ Dy
2
O
3
Forward Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian
securities legislation. Generally, forward-looking information can be identified by the use of forward-
looking terminology such as "will", "will be" or variations of such words and phrases or statements that
certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and they are from those expressed
or implied by such forward-looking statements or forward-looking information subject to known and
unknown risks, uncertainties and other factors that may cause the actual results to be materially different,
including receipt of all necessary regulatory approvals. Although management of the Company have
attempted to identify important factors that could cause actual results to differ materially from those
contained in forward-looking statements or forward-looking information, there may be other factors that
cause results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking
statements and forward-looking information. The Company will not update any forward-looking
statements or forward-looking information that are incorporated by reference herein, except as required
by applicable securities laws.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/248996