Namibia Critical Metals Inc. announced the completion of the final phase of drilling for its Pre-Feasibility Study (PFS) on the "Lofdal 2B-4" heavy rare earth project. In total, infill and resource expansion drilling for the PFS phase amounts to 10,823 m in 56 boreholes drilled over the last months. The final drill phase entailed seven very deep reverse circulation (RC) boreholes for 2,597 m in the Area 4 main deposit.

While five boreholes represent infill boreholes in the deeper part of the central Area 4 deposit, two of the boreholes aimed at resource expansion at the newly established mineralized zone in the western part of the Area 4 deposit. The main aim of the drilling campaign was to significantly increase the measured and indicated resource categories to comply with the requirements of a PFS. Beyond this, field logging supports concept of an extension of the orebody in the southwestern part of Area 4 which demonstrates the potential to unlock further mineralization in future.

The company expects to receive the assays in January 2024 and an updated resource statement in February 2024. Drilling was conducted at both, Area 2B and Area 4, in two phases between February and November 2023. In total, 10,823 m were drilled by reverse circulation (RC drilling) in 56 boreholes.

The last 7 boreholes, completed in November 2023, were drilled into the deeper western part of the mineralization at Area 4 with end-of-hole (EOH) depths between 325 and 401 m. These deep holes aimed at both, infill drilling for the current pit shell and resource expansion drilling following the newly discovered thick and high-grade HREE-mineralized zone further to the southwest. More than 1100 samples were collected from the last seven boreholes and submitted for ICP analysis to Actlabs by end of November 2023. Results are expected by mid-January 2024.

Jeremy Witley of The MSA Group was contracted as QP for the drilling and sampling activities and confirmed that the processes and standards for the exploration are appropriate for the style of mineralization at Lofdal and that acceptable QAQC protocols have been implemented. MSA was also contracted to produce an updated Mineral Resource Estimate for the Lofdal 2B-4 project which is expected to be released by end-February 2024.