E-Tech Resources (TSXV:REE, FSE:K2i) is a Halifax, Nova Scotia-based exploration company developing its high-grade Eureka rare earths project in Namibia, a top-tier and mining-friendly jurisdiction in Southern Africa. The company is focused on exploring for neodymium and praseodymium, two critical minerals necessary for the global energy transition goals.
Part of the rare earth elements (REE) family of minerals, neodymium and praseodymium are essential to high-performance magnets used for electric motors, generators and electric vehicles. As demand for REEs is expected to increase by 400 to 600 percent over the next few decades, the focus is shifting toward developing a supply chain outside of China, which has long been a dominant supplier of the world’s REE.
The company’s fully owned flagship Eureka project is located in the Erongo Mining Corridor of Namibia. The Eureka project has a maiden inferred resource of 310 kt at 4.8 percent TREO with grades ranging from 1 to 16 percent. The company believes there is strong potential to increase the inferred and indicated mineral resource by at least 0.5 to 1.5 million tonnes, based on a technical scoping study.
E-Tech Resources completed a combined diamond drilling and reverse circulation drilling campaign at Eureka in 2022, with final assays indicating significant intersections of 11.2 meters at 1.2 percent TREO, 2.2 meters at 2.4 percent TREO, 8.8 meters at 1 percent TREO, and 6.3 meters at 1.9 percent TREO.
In addition, preliminary pXRF drilling results1 for the Adder Target have confirmed a discovery zone with the presence of REE mineralization identified in multiple zones in a drill hole correlating with REE mineralization identified on surface. Mineralization remains open at depth and along strike.
The results are part of the ongoing extended exploration of one of the 17 targets identified through ground radiometric and magnetic geophysical surveys and a geological mapping program completed earlier.
The Eureka project is strategically located near several mines and projects, including Rossing Uranium’s Rossing Uranium mine, QKR’s Navachab Gold mine, Namib Lead and Zinc Mining’s Namib Lead and Zinc mine, and AfriTin’s Uis mine. Eureka has excellent infrastructure and access to a major highway, a railway, roads, power, water and skilled professionals.
The company has taken steps to expand its land holdings within the Erongo Mining Corridor in Namibia, by entering into an agreement to acquire an 85-percent interest in EPL 874, which lies adjacent to and surrounds the company’s EPL 6762. The approximately 165-square-kilometer EPL 8748 contains a significant portion of the prospective Eureka Dome, the geological feature hosting mineralised REE-bearing carbonatites. Approximately a third of the Eureka Dome falls within the boundary of E-Tech Resources’ EPL 6762 and the remaining portion falls on the adjoining license EPL 8748.
E-Tech Resources is committed to maintaining the highest ESG standards to sustainably supply the green economy and adhere to the guidelines of the United Nations’ Sustainable Development Goals. E-Tech Resources plans to create a sustainability committee to guide its ESG efforts and will be conducting further environmental and social impact assessments as part of ongoing feasibility studies to maintain responsible sourcing. E-Tech Resources’ Eureka project is currently expected to have no major negative socio-environmental impact on the region.
The company is exploring the potential of a feasibility study for a rare earth separation plant in Namibia. Recognizing the need for a de-risked supply chain for these strategic critical raw materials, E-Tech is collaborating with Ondoto Rare Earth, a private Namibian company developing the high-grade Ondoto bastnaesite deposit in northern Namibia, and Namibia Critical Metals (TSXV:NMI, OTCQB: NMREF), which is developing the tier-1 heavy rare earth project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Together, the three companies will participate in a joint venture known as Rare Earth Alliance Namibia (REAN).
E-Tech Resources also signed a memorandum of understanding (MOU) with Novamera to evaluate the use of surgical mining and Novamera’s technologies as the extraction method for the Eureka Project. The MOU sets out a series of milestones that include a conceptual surgical mining economic desktop evaluation (commencing immediately), Guidance Tool calibration activities and a bulk sample which could provide a more cost-effective and faster path to production, while also radically reducing environmental and social impact.
After evaluating the results of the current exploration program, the company engaged Gecko Namibia and Flightec Namibia to support ongoing exploration and development activities on the project. Phase 1 ultra-high resolution UAV-borne magnetic survey will be conducted by Flightec.
E-Tech Resources’ fully owned flagship Eureka project is located in the Erongo Mining Corridor of Namibia and has a maiden inferred resource of 310 kilotons at 4.8 percent total rare earth oxide (TREO) with significant growth potential.The Eureka project is strategically located near several mines and projects, as well as excellent infrastructure, with access to a major highway, a railway, roads, power, water and skilled professionals.E-Tech Resources is focused on exploring for neodymium and praseodymium, critical minerals essential to permanent magnets for electric vehicles.Early metallurgical testing has indicated the potential to be one of the simplest REE projects to process in the world.Recently completed ground geophysical and exploration mapping programs at the Eureka project identified 17 robust targets for exploration drillingE-Tech Resources is committed to maintaining the highest ESG standards in adherence to the United Nations’ Sustainable Development Goals.E-Tech Resources is led by a highly skilled management team with a proven track record of success in the mining industry and capital markets.
The Eureka project is a fully owned, high-grade rare earth element project located in the Erongo Mining Corridor of Namibia. The property is approximately 250 kilometers northwest of the capital city of Windhoek and is accessible via a major highway, road and rail with access to power, water, skilled professionals and Namibia’s largest commercial port. The project’s neighbors include Rossing Uranium’s Rossing Uranium mine, QKR’s Navachab Gold mine, Namib Lead and Zinc Mining’s Namib Lead and Zinc mine, and AfriTin’s Uis mine.
The Eureka project has a mineral resource estimate with an average TREO of 4.8 percent (NI 43-101). The in-situ dyke grade ranges from 1 to 16 percent TREO on the property. A Technical Scoping Study by SRK (UK) mentions upside potential to increase the mineral resource estimate with up to an additional 1.5 million tonnes for its Campaign 1, which was concluded in September 2021. Early beneficiation test work by SGS Mineral Services has shown a high recovery of monazite due to the presence of simple mineralization with low levels of radiation.
E-Tech Resources identified 17 robust drill targets defined from the completed ground geophysical and exploration mapping programs. The initial target areas comprise favorable geophysical, geological and structural features akin to those of the original Eureka Zone 1 discovery. Ongoing extended exploration of one of these 17 targets resulted in a discovery zone in the Alder Target through preliminary pXRF, confirming the presence of REE mineralization in multiple zones. Mineralization remains open at depth and along strike.
Todd Burlingame – CEO
Todd Burlingame brings a wealth of experience and expertise to E-Tech Resources with a successful career spanning several resource development companies and major projects. Burlingame played a pivotal role in advancing rare earth element projects in Newfoundland and Labrador, Canada. During his tenure, the project achieved significant milestones, including the publication of a preliminary economic assessment, the completion of advanced ore processing test work, and completion of ore body delineation drill program for the purpose of establishing a measured resource for the project.
Burlingame’s extensive resumé also includes notable roles such as executive vice-president of the Alderon Iron Ore Project, manager and team lead for the Lower Churchill Project at Nalcor Energy, project manager for Voisey’s Bay Nickel Commercial Processing Plant, and chair and chief executive officer of both the Mackenzie Valley Land and Water Board and the Mackenzie Valley Environmental Impact Review Boards.
Jim Megann – Chairman
Jim Megann is an accomplished executive and business leader. He is a director of Torrent Capital, a publicly traded investment issuer; director of Antler Gold; director of OARO; and a director of Sona Nanotech, a nanotechnology developer currently listed on the Canadian Stock Exchange. Megan also brings more than 25 years of experience in the communications and marketing industry. He was awarded the Queens Diamond Jubilee medal in 2012 for his extensive community work.
Rob Randall – CFO
Rob Randall has served as a contract CFO for several TSXV-listed companies and has extensive public company financial experience. Randall currently serves as the chief financial officer of Torrent Capital (TSXV:TORR), Sona Nanotech (TSXV:SONA) and Antler Gold (TSXV:ANTL). Randall was the corporate controller of Etruscan Resources Inc. from 1997 to 2011. At Etruscan Resources, Randall oversaw the financial operations for all aspects of its gold exploration and production activities throughout West Africa as well as its diamond operations in South Africa. He also served as controller of Nova Gold Resources Inc. from 1997 to 2001.
Chris Drysdale – Director
Chris Drysdale is an experienced professional with international experience in the mineral and exploration industry. He currently serves as vice president of operations and corporate development for Antler Gold (TSXV:ANTL). Antler Gold is a gold exploration company focused on the acquisition and exploration of gold projects in Namibia. He has previously served as the Kenyan country manager for Stockport Exploration. At Stockport Exploration, Drysdale oversaw the operations for all aspects of its gold exploration and production activities throughout East Africa. Before that, Drysdale worked as a field exploration geologist for Remote Exploration Services, a geological consulting firm based in South Africa servicing all aspects of the mineral industry. Drysdale has a progressive and diverse background with extensive work experience in Namibia. He has been involved in various mineral projects throughout Africa.
Ken Marshall – Director
Ken Marshall has extensive experience in the information technology and telecommunications sectors, having served in various positions at Rogers Communications throughout his career. Marshall was the senior vice president of national residential marketing for Toronto. In this role, he led the wireline marketing group in the launch of the Ignite platform. He also served as the regional president for the Atlantic region and the vice president of the enterprise business unit at Rogers Communications.
Marshall has spent his post-telecommunications time working with emerging start-up organizations. He serves on the boards of several companies, including: Genesis, which is Newfoundland and Labrador’s primary innovation hub and incubator; Celtx, which is an online platform for film, video and game production; eXeBlock Technology Corporation, which focuses on opportunities in digital identity and authentication; and Metricsflow, a B2B platform focused on enhancing website attribution.
Frances Wall – Director
Frances Wall is a professor of applied mineralogy at Camborne School of Mines, University of Exeter. He has a BSc in geochemistry from the Queen Mary University of London and a PhD in rare earth-rich carbonatites from the University of London. Wall has over 30 years of experience researching the geology and process mineralogy of global rare earth deposits and practically linking exploration stage studies to responsible sourcing outcomes. She has also led large consortia research projects, such as HiTech AlkCarb and SoS RARE, and is currently the principal investigator for the UK Research and Innovation Interdisciplinary Circular Economy Centre for Technology Metals.
John Philpott – Director
John Philpott is the founder and CEO of CanAm Physician Recruiting. He has been the leading physician recruitment and placement company in the Canadian and international markets for more than two decades. Philpott led the executing team through a successful public listing for Canabo (TSXV:CMC). In 2018, Philpott managed the merger of Canabo with Aleafia Health Inc., (TSXV:ALEF) in a transaction valued at $40 million. The transaction resulted in a combined operation with a market capitalization of over $200 million at the close of the merger. Phillpot is also a skilled negotiator. In less than two years, Phillpott scaled the company from one Toronto clinic with two part-time physicians to 24 clinics across Canada. As CEO of CanAm Physician Recruiting, Phillpott consults with physicians, hospital administrators, government officials and private clinic owners.