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E-TECH RESOURCES INC. REPORTS HIGH-GRADE DIAMOND DRILL INTERCEPTS UP TO 100 METERS BELOW CURRENT RESOURCE, INCLUDING 6.5% TREO OVER 4 METERS ON ITS EUREKA PROJECT IN NAMIBIA

HALIFAX, NS November 10, 2021 – E-Tech Resources Inc.  (TSX.V:REE) (“E-Tech” or the “Corporation”) is pleased to announce assay results for the first step-out diamond drill holes completed at the Eureka REE Project (“Eureka” or the “Project”), located in central Namibia.

Highlights of the seven drill holes which intersected mineralization include:

  • Drill Hole ED001: 2.1 % Total Rare Earth Oxide (“TREO”) over 2.0 meters, from 219.0 meters
  • Drill Hole ED002: 1.6 % TREO over 2.2 meters, from 140.7 meters
  • Drill Hole ED003: 2.6 % TREO over 1.0 meters, from 146.0 meters
  • Drill Hole ED004: 6.5 % TREO over 3.8 meters, including 11.2 % TREO over 2.2 meters, from 129.9 meters
  • Drill Hole ED006: 1.4 % TREO over 1.5 meters, including 3.5 % TREO over 0.6 meters, from 288.8 meters
  • Drill hole ED007: 2.5 % TREO over 1 meter, from 94.2 meters

A summary of the assay results received from the first seven (7) diamond drill holes completed at Eureka is provided in Table 1.

Elbert Loois, CEO of E-Tech, 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. We plan to restart drilling as soon as possible. I congratulate the team with hitting the targets of the first 7 holes of this diamond drilling campaign, as we await assay results from the remaining 13 holes that have been drilled so far.

The drill holes are part of the Phase 1 resource expansion program across Zones 1, 2 and 3 which was completed in late September 2021 totaling 5,761 meters of diamond drilling (DD) in 20 holes. Figure 1 indicates assays received to date in colored dots and diamonds, and assays awaited shown in white dots and diamonds. Received DD assay results to date comprise of a batch of 330 samples from a total of 1288 submitted. These 330 samples represent Hole ED001 to Hole ED007, from total of the 20 diamond drill holes completed.

The Corporation has also completed a Reverse Circulation (RC) drilling campaign in February 2021 totaling 3306 meters in 23 holes with a total of an additional 1465 samples. The positioning of the Phase 1 diamond drilling together with the additional RC drilling is displayed in Figure 1 below.

Plan view of drilling at Eureka 10Nov2021

FIGURE 1: Plan view of drilling at Eureka, Namibia, and assays received status to date. The red dots and purple areas represent the current 2021 Mineral Resource Estimate (MRE). Hollow white dots and diamonds are assays pending. Blue diamonds are assays received.

A summary of the assay results received from the first seven (7) diamond drill holes completed at Eureka is provided in Table 1.

TABLE 1: Significant intercepts from the 2021 diamond drilling (DD) campaign. Additional results from holes ED008 to ED020 are awaited. Sample locations are provided in NAD83, UTM Zone 33S. Reported intercepts are drilled lengths while the true thickness of the mineralization is estimated to range between 60 and 80 per cent of the drilled lengths. Further drilling is necessary to establish the true thickness of the dykes.

E-Tech Resources - Diamond Drilling Early Assay Return-Table 1
E-Tech Resources - coarse-grained monazite

FIGURE 2: Coarse-grained monazite in dolomitic carbonatite at 131.5 meters in Hole ED004. Monazite crystals to 6cm and massive monazite marked as M.

Assay results from ED004 located on Zone 1 has intercepted four monazite-bearing carbonatite dykes between drill depths 97.7 meters and 183.7 meters, with one dyke returned 4 meters @ 6.5% TREO. These intersects confirm expansion of Zone 1 mineralization down-dip of up to 160 meters outside of the extent of the current 2021 Mineral Resource Estimate (MRE) for Eureka, and mineralization remains open towards the east. Figure 2 above shows visible coarse-grained monazite in dolomitic carbonatite.

Historical Exploration Highlights
Assay results from the 2017 RC drilling campaign are the basis of the current 2021 Mineral Resource Estimate (MRE) of 0.31 Mt at 4.8% TREO, and highlights from that campaign are shown in Table 2 below. The current MRE is constrained to a maximum vertical depth of 60m.

TABLE 2: Significant Intercepts from 2017 reverse circulation (RC) drilling campaign.*

E-Tech Resources - 2017 Current Resources RC Drilling Area 1

* Details regarding the current 2021 Mineral Resource Estimate (“2021 MRE”) is provided within the National Instrument 43-101 (“NI 43-101”) Technical Report titled “”Independent Technical Report: Eureka Rare Earth Project, Namibia” with an effective date of August 2, 2021. The Technical Report was authored by Mr. Martin Pittuck (CEng, FGS, MIMMM) and Mr. Keith Webb (MAIG) SRK Consulting (UK) Limited UK30999 (“SRK”), whom are both are independent Qualified Persons in accordance with the requirements of NI 43-101.  The Technical Report supports the 2021 MRE for E-Tech Resources, and is available on SEDAR and the Company’s website.

Eureka Technical Disclosure
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 (UK) (“SRK”). An Independent Technical Report titled: “Independent Technical Report: Eureka, Rare Earth Project, Namibia” was released on the 15 September 2021 prepared by SRK, supporting the disclosure of the MRE, and is available on SEDAR and the Corporation’s website.

Quality Assurance / Quality Control
All E-Tech sample assay results have been independently monitored through a quality assurance / quality control (“QA/QC”) program including the insertion of blind standards, blanks and duplicate samples. QA/QC samples make up 10% of all samples submitted. Drill core is sawn in half on site and half drill-core samples are securely transported to Activation Laboratories Ltd. sample preparation facility in Windhoek, Namibia. The core is dried, crushed to 90% passing 2 mm, riffle splitting a 250 g sub-sample and pulverizing to 95% passing 105 µm. Sample pulps are sent to Activation Laboratories Ltd. in Ontario, Canada for analysis. REE analysis is by method 8-REE. The sample is milled to 95% -200 mesh. To ensure complete fusion of resistate minerals; lithium metaborate/tetraborate fusion is used with analysis by ICP-OES and ICP-MS. Mass balance is calculated as an additional quality control technique to ensure complete analysis.

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. Mr. Siegfried consents to the inclusion of this information for the announcement.

About E-Tech Resources Inc.
E-Tech Resources Inc. (TSX.V: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 Resources and future plans and objectives of E-Tech Resources. 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 programs and work in Namibia. Actual results may differ materially from results suggested in any forward-looking information. E-Tech Resources 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 Resources 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/102790

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