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Dalaroo Metals Ltd (ASX: DAL, “Dalaroo” or “Company”) is pleased to advise that it has entered into a binding heads of agreement (“Agreement”) with Ox Resources Pty Ltd (“Vendor”) to potentially acquire the Zr-Nb-REE Blue Lagoon Project (tenement MEL 2022-07) (“Project”) located in the Gadar Province of South Greenland (refer Figure 1 and 3). The Project has been historically sampled as part of a regional stream sediment program undertaken by the Greenland and Denmark Geological Society (‘GEUS”) for uranium exploration in 1979.
Highlights
- Binding Heads of Agreement executed for an Option to acquire 100% of Blue Lagoon Zirconium-Niobium-Rare Earth Element (REE) Project, (MEL 2022-07), located in the Gadar Province of Greenland.
- The USGS reports Greenland has the third highest reserves of REE in the western world, following US and Australia respectively, which has significance given current geopolitical dynamics and security of supply chain concerns.
- President Trump’s recent interest in Greenland as a source of critical resources and its strategic location highlights the growing importance Greenland has for critical metals and their ownership.
- The Project has been historically sampled as part of a regional stream sediment exploration undertaken by the Greenland and Denmark Geological Society (‘GEUS”) for uranium in 1979. Dalaroo is planning a program of systematic exploration to seek to report the historical results on the Project in accordance with the JORC Code 2012.
- Project has similar geochemical anomaly footprint to the Kvanefjeld (ASX: ETM Energy Transition Metals) and Kringlerne/Tanbreez (NASDAQ: CRML Critical Metals Corp) multi- element deposits in South Greenland, showing enrichment in critical minerals and high value LREE elements from regional stream sediment sampling:
- Up to 0.93% Zirconium (Zr)
- Up to 320 ppm in Niobium (Nb)
- Up to 520 ppm in Neodymium (Nd)
- Sampling has not returned any elevated radioactive elements, which is significant given the current Greenland Government ban on any activities related to mining if uranium concentrations are over 100ppm.
- Project sits on the westernmost part of the highly prospective Gadar Block alkaline intrusives belt in SW Greenland. This belt hosts significant advanced critical metals-REE deposits.
- Project area contains potential bulk tonnage options from beach-like deposits of weathered granitic rock, providing potential low-cost options for separation and the planned focus for preliminary work.
Dalaroo MD & CEO, Mike Brown commented “We are very excited to have secured this Option on the Blue Lagoon REE-Nb-Zr Project in Southwest Greenland. Regional stream sampling has indicated significant LREE anomalies and other critical metals that have both similar tenor to the geochemical footprint and geological setting of three other REE deposits in South Greenland. We see this as a strategic play on two levels; firstly, exposure to high demand commodities such as REE, niobium and zirconium and secondly, exposure to a highly prospective and unexplored jurisdiction that is getting significant attention with respect to the vital role Greenland could play in providing critical metals in the future. With the Project being located on the coast with ice free water we are looking forward to getting onto the ground to commence exploration activities.”
Figure 1: Project location, GEUS regional stream sediment location and neodymium assay results.
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This article includes content from Dalaroo Metals Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
DAL:AU
E-Tech Resources
Overview
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.
Company Highlights
- 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 drilling
- Preliminary pXRF drilling results1 for the Adder Target have confirmed a discovery zone with the presence of REE mineralization.
- E-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.
Get access to more exclusive Rare Earth Investing Stock profiles here
High Priority REE Targets Identified At The Company’s Critical Elements Project
HIGHLIGHTS
- High priority REE (rare earth element) targets identified by expert geophysical consultants, Southern Geoscience
- Multiple radiometric anomalies and structural zones prospective for pegmatite intrusions identified
- REE targets are located on the Company’s exploration licences E09/2354 and E09/2377 in the highly prospective Gascoyne Province, Western Australia
- Initial exploration program to commence later this month, comprising ground reconnaissance, rock chip sampling and geochemical analysis
The high priority targets sit within tenements held by Reach Resources wholly owned subsidiary, Critical Elements Pty Ltd (Critical Elements), that were acquired in November 2021. The Critical Elements Project lies in close proximity to successful explorer Kingfisher Mining (ASX:KFM) and are also only ~80km south of the Company’s Skyline tenure, which is immediately adjacent to Hastings Technology Metals Limited (ASX: HAS “Hastings”), Yangibana REE development which has a current Ore reserve of 16.7Mt at 0.95% TREO for 158Kt (Refer HAS ASX Announcement 27 July 2021). (Refer to Figure 1).
Figure 1: Reach Resources regional locations
Southern Geoscience focussed on structural interpretation and target generation based on airborne magnetic data, with additional detail derived from interpretation of radiometric data and satellite imagery. Resulting from the interpretation was the identification of six REE targets within Reach tenure. A full list of identified targets within Reach tenure is included in Table 1 and depicted in Figure 2.
All targets display geological and structural complexity combined with previously identified prospective critical metal and/or REE mineral association.
Figure 2: Targets and Magnetics
Costeaning has been undertaken previously within the project areas and returned significant results including 12.4% Ta2O5, 32.0% Nb2O5, 0.95% WO3 and 0.25% Sn, from selective rock chip samples (Refer ASX Announcement 29 November 2021). REEs were not analysed at that time however thorium anomalism, which has been shown by Kingfisher Mining and others to be associated with REE mineralisation in the region, has also been identified on Reach tenure from the radiometric data for the area interpreted by Southern Geoscience.
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This article includes content from Reach Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
