E-Tech introduces the Eureka project

Namibia is recognised as an important mining country in Africa, and the mining sector is a major contributor to Namibia’s economy.

14 January 2022 | Economics

The assay results received to date reveal an extension of the mineralization outside of the current resource estimate in several monazite bearing carbonatitic dykes. Elbert Loois, CEO: E-Tech Resources

STAFF REPORTER

E-Tech Resources INC is a rare earth element development company. The company owns 100% of the Eureka Project in Namibia.

The Eureka project is located approximately 250 km north-west of Windhoek, and 140km east of Walvis Bay. The Eureka deposit lies within Exclusive Prospecting Licence number 6762, which covers Eureka Farm 99 and Sukses Farm 90 in the Erongo Region.

Namibia is recognised as an important mining country in Africa, and the mining sector is a major contributor to Namibia’s economy.

In the next decade, there will be a worldwide push for “green revolution” to prevent the earth surface from heating up more than 1.5 degrees Celsius. To meet this target there will be an increased demand for rare earth elements and Namibia can be part of the supply-chain.

Rare earth elements are a set of 17 metallic elements on the periodic table and are necessary components for more than 200 high-tech products. including electric vehicles and wind turbines. Neodymium (Nd) is one of the most well-known rare earth elements (REE) and is mainly used in the production of high-strength permanent magnets for efficient motors and turbines.

Growth at 6% year-on-year is expected for Neodymium and Praseodymium, the main elements of focus of the Eureka Project, as more societies adopt low carbon alternatives. These two REEs represent about 80-90% of the market value of all REE’s.

Results

Exploration started in 2016, at the Eureka Project, with ground magnetic and radiometric surveys over the known carbonatite outcrops to generate several drill targets. The company has announced its first technical disclosures with assay results for first seven (7) out of twenty (20) diamond drilling (DD) holes and for all reverse circulation drilling (RC) holes completed in 2021. Further DD results from the first campaign are expected in Q1 2022, dependent on lab processing time. The promising results so far have resulted in the commencement of a 2nd combined drilling campaign, which is still ongoing.

Elbert Loois, chief exective officer (CEO) of E-Tech Resources, commented, “The assay results received to date reveal an extension of the mineralization outside of the current resource estimate in several monazite bearing carbonatitic dykes. These results confirm the presence of these dykes up to 160 meters vertical depth, while remaining open at depth and along strike. I congratulate the team with hitting the targets of the 7 holes of our first diamond drilling campaign, as we await assay results from the remaining 13 holes that have been drilled so far.”

E-Tech Resources aligns its sustainability policy with the guidelines of the United Nations’ (UN) Sustainable Development Goals (SDG). The Eureka REE Project will secure sustainable value to its stakeholders by installing a Sustainability Committee to guide its efforts in areas such as health and safety, community support, efficient energy consumption, job creation, environmental care and many more.

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