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E-Tech Resources - Numus Financial

E-Tech Resources Inc. announces trading on the TSX-V and presents technical disclosure on rare earth element project in Namibia

HALIFAX, NOVA SCOTIA – (CNW – October 21, 2021) – E-Tech Resources Inc. (formerly Battery Road Capital Corp.) (“E-TECH” or the “Corporation”) (TSXV:REE) 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 17 September 2021.

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.

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).