E-Tech Resources Inc. Announces Listing on the Frankfurt Stock Exchange (XFRA) with Its 100% Owned Eureka Rare Earth Element Project in Namibia
E-Tech Resources Inc. Announces Listing on
the Frankfurt Stock Exchange (XFRA) with Its
100% Owned Eureka Rare Earth Element
Project in Namibia
Halifax, Nova Scotia--(Newsfile Corp. - January 5, 2022) - E-Tech Resources Inc. (TSXV: REE)
("E-
Tech or the Corporation"
) is pleased to announce its co-listing on the Frankfurt Stock Exchange
(XFRA) under the ticker symbol "K2I". E-Tech Resources Inc. is a rare earth exploration and
development company focused on developing its Eureka Rare Earths Project in Namibia.
About E-Tech Resources Inc.
E-Tech Resources Inc. (TSXV: REE) is a rare earth exploration and development company focused on
developing its Eureka Rare Earths Project in Namibia. The Eureka Project is located approximately 250
km north-west of Namibia's capital city Windhoek and 140 km east of Namibia's main industrial port
Walvis Bay. The project is situated next to the national B1 highway in the Erongo Region of Namibia. The
Eureka deposit lies in the Southern Central Zone of the Neoproterozoic Damara Belt within Exclusive
Prospecting Licence ("EPL") number EPL 6762; which covers Eureka Farm 99 and Sukses Farm 90.
Namibia is recognized as one of Africa's most politically stable jurisdictions, with an extremely well-
established national infrastructure and a clear and transparent mining law. The Corporation continues to
assess new project opportunities and expand its Southern African portfolio.
Exploration Results
The Corporation produced its current Mineral Resource Estimate ("MRE") for the Eureka Project with an
effective date of 2 August 2021. The MRE was prepared by SRK Consulting (Canada) Inc. ("SRK"). An
Independent Technical Report titled: "Independent Technical Report: Eureka, Rare Earth Project,
Namibia" was released on 15 September 2021 prepared by SRK, supporting the disclosure of the
MRE, and is available on SEDAR and the Corporation's website.
Exploration started in 2016 with ground magnetic and radiometric surveys over the known carbonatite
outcrops to generate a number of drill targets. In March 2017 E-Tech Namibia completed 19 reverse
circulation ("RC") drillholes for a total of 610 m in Zones 1, 2 and 3. During Q2 2019, 1.2 km of trenching
was completed on Zones 1, 2 and 3 and reconnaissance mapping located previously unknown
mineralisation south of Zone 3. All drill pad sites and trenches have since been rehabilitated.
At least
fourteen en-echelon REE-bearing dolomite carbonatite dykes have been identified, these are found in
four zones which are within several hundred metres of each other. The dykes are generally 0.5 m - 4 m
thick and are principally composed of coarse dolomite with a variable abundance of coarse low-thorium
monazite as crystals up to 20 cm in size (the host mineral of the REEs). Locally, the dykes are
surrounded by a thin selvage of skarn-like rock containing finer grained monazite. Early beneficiation
testwork has shown optimum liberation of the target mineral monazite at a course fraction, with 65 %
recovery of monazite concentrate by gravity separation alone. The concentrate is upgraded by removal
of magnetite by low intensity magnetic separation ("LIMS") to a grade of 59.2 % Total Rare Earth Oxide
(TREO).
The Corporation has continued to advance its exploration targets since issuing the MRE. Exploration
work designed to expand the MRE to date from the first combined campaign includes 2450 metres of
trenching, 3,300 m of Reverse Circulation drilling ("RC") and 5,500 m of Diamond Drilling ("DD"). RC
and DD samples have been submitted for assay. Assay results of 7 out of 20 DD holes were
released
on 10 November 2021
, which highlighted interceptions with monazitic dykes up to 160 m of vertical
depth. All RC assay results from the first campaign were
released on 1 December 2021
, which
highlighted a significant lateral increase of the project's footprint in terms of surface delineation of Zones
1 and 3 to South and West. Further DD results from the first campaign are expected in Q1 2022,
dependent on lab processing time.
Baseline environmental monitoring equipment has been installed at the Eureka site to monitor changes
in the local environment ahead of the ramp-up of exploration works.
Ongoing and Future Work Program
As released on 2 December 2021
, the commencement of a second combined exploration campaign
was announced including 3,000 m of RC and 2,000 m of DD to target the expansion of the
mineralisation footprint from Zones 1 and 2 towards the wider exploration area of Zones 3 and 4, by
testing the dykes' lateral and depth continuity, as well as testing additional outcrops and geophysical
anomalies. Additional mineralogical characterisation of the host lithologies is planned to aid in further
metallurgical optimisation.
Further exploration plans will be finalized and undertaken in 2022 following the receipt and analysis of
assay results of samples taken from the currently completed drilling campaigns.
Further details are available on the Corporation's website at
www.etech-resources.com
or
contact Elbert Loois, CEO of E-Tech Resources Inc., at +1 (902) 334 1949.
Cautionary Statements
This press release may contain forward-looking information, such as statements regarding the
completion of the work in Namibia by E-Tech and future plans and objectives of E-Tech. This
information is based on current expectations and assumptions (including assumptions in connection
with the continuance of the applicable company as a going concern and general economic and
market conditions) that are subject to significant risks and uncertainties that are difficult to predict,
including risks relating to the ability to satisfy the conditions to completion of exploration programmes
and work in Namibia. Actual results may differ materially from results suggested in any forward-
looking information. E-Tech assumes no obligation to update forward-looking information in this
release, or to update the reasons why actual results could differ from those reflected in the forward-
looking information unless and until required by applicable securities laws. Additional information
identifying risks and uncertainties is contained in filings made by E-Tech with Canadian securities
regulators, copies of which are available at
www.sedar.com
.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/109122