E-Tech Resources Inc. Announces Trading on the TSX-V and Presents Technical Disclosure on Rare Earth Element Project in Namibia
E-Tech Resources Inc. Announces Trading on
the TSX-V and Presents Technical Disclosure
on Rare Earth Element Project in Namibia
Halifax, Nova Scotia--(Newsfile Corp. - October 21, 2021) - E-Tech Resources Inc. (TSXV:
REE) (formerly Battery Road Capital Corp.) ("
E-TECH
" or the "Corporation") is pleased to announce its
listing on the TSX-V. At this time the Corporation is pleased to present a technical disclosure of its
Eureka rare earth element project in Namibia, as addressed in its Management Circular Information
release as of September 17, 2021.
The Corporation produced its current Mineral Resource Estimate ("MRE") for the Eureka Project with an
effective date of August 2, 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 September 15, 2021 prepared by SRK, supporting the disclosure of the
MRE, and is available on SEDAR and the Corporation's website.
The Corporation has continued to advance its exploration targets since issuing the MRE. Exploration
work designed to expand the MRE to date includes 2450 metres of trenching and 3300 metres of
Reverse Circulation ("RC") drilling. In June 2021, the Corporation commenced the planned 4000 metre
Diamond Drilling ("DD") campaign. RC and DD drilling samples will be submitted for assay as soon as
possible. Results are expected in Q1 2022, dependent on lab processing time.
Exploration Results
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 test
work 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).
Early exploration work on the Eureka Project delivered a maiden inferred Mineral Resource of 310 Kt at
an average grade of 4.8 % TREO, or 310 Kt of 0.7 % NdPrO, with a 1.3 % TREO cut-off applied. SRK
Consulting reported the project as having reasonable potential to be economically exploited by open pit
mining, milling and gravity circuit separation. In terms of adding to the Mineral Resource, SRK
recommend further mapping, trenching and drilling based on the areas where geophysics has produced
radiometric anomalies. E-Tech commenced with these studies in 2021 which are currently underway.
SRK reported an 'Exploration Target' of between 0.5 Mt and 1.5 Mt at a grade of between 2 % and 5 %
TREO.
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.
Future Work Program
Following the assay results from the current 2021 campaign, further infilling and expansion is planned to
test the dykes' lateral and depth continuity. Work is planned across all zones, as well as testing
additional outcrops and geophysical anomalies chiefly in Zone 3 and Zone 4. 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.
Qualified Person
Pete Siegfried, BSc. (Hons), M.Sc., is a Consulting Geologist and director of GeoAfrica Prospecting
Services CC. and has reviewed and approved the scientific and technical information in this news
release. Mr. Siegfried is a member of The Australasian Institute of Mining and Metallurgy (AusIMM)
membership number: 221116 (CP Geology), and a Qualified Person for the purposes of National
Instrument 43-101.
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 140km 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.
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, timing of re-listing of the Corporation's common shares,
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 to working conditions 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/100422