Namibia Critical Metals Inc. ('Namibia Critical Metals' or the 'Company' or 'NCMI') (TSXV: NMI OTCQB: NMREF) is pleased to announce the completion of the RC drilling campaign for its PFS study on the large-scale 'Lofdal 2B-4' heavy rare earth project.
The infill drilling campaign entailed 49 reverse circulation (RC) boreholes for a total of 8,226 m in the Area 4 main deposit and the Area 2B satellite deposit. Assays were received from Actlabs, Canada. Highlights are:
Width and grade of the mineralised zones were confirmed by infill drilling. Combined mineralized intervals can reach more than 100 m length in total in some boreholes based on a combined cut-off of 0.1% TREO1 over wider intercepts as previously used in the PEA 'Lofdal 2B-4'. This averaging over wider mineralised zones reflects assumed consecutive blocks in a potentially large-scale open-pit operation benefiting from economy of scale. A larger, previously unknown mineralized zone was intercepted in the western periphery of the pit shell (produced in the PEA 'Lofdal 2B-4' for Area 4) demonstrating upside for additional mineralization towards the west and depth. Test work at SGS Lakefield continues with the pilot-scale flotation test on a 5 ton bulk sample and an extended variability testing program followed by hydrometallurgical tests.
Darrin Campbell, President of Namibia Critical Metals stated: 'The highly cost-efficient RC infill drill program delivered the expected positive results and the newly established thick zone of heavy rare earth mineralization in the western part of Area 4 highlights again the enormous potential for upside for the district-level Lofdal deposit. With several test programs at SGS at advanced stages and with positive interim outcome, we are optimistic to deliver a highly competitive PFS for 'Lofdal 2B-4' by mid next year.'
RC drilling program 2023
A final drill program was worked out by the Company with support by The MSA Group to increase the level of resource categories as required for the PFS for the expanded project 'Lofdal 2B-4'. Resource drilling commenced at the end of January 2023 and was completed by June 2023. The drilling campaign was significantly expanded from a planned total of 5,240 m. With the excellent drill performance of Prinsloo Drilling in deeper RC holes, it was decided to drill all planned diamond core (DC) boreholes up to 350 m length by the more cost-efficient reverse circulation (RC) method. Eventually, a total of 8,226 m was completed in this RC drilling campaign. 37 RC drill holes for a total of 6,446 m were drilled at Area 4. In general, mineralised zones were confirmed in its expected ranges of width and grade. The drill results confirm the geological model of structural zones acting as fluid channels and controlling intensity, pinching and swelling as well as splaying of the wide mineralized zones. Several intercepts in boreholes drilled in the periphery of the planned pit shell for Area 4 open pit, show wide mineralized zones which might form significant additional resources in the planned update of the Mineral Resource Estimate. An example for a mineralized zone currently not included in the pit shell is depicted in the section through the western periphery of planned Area 4 open pit with borehole L4D0207 returning 9 mineralized intervals using a Area 4 Area 2B 3 cut-off of 0.1% TREO2 , including 14 m at 0.17% TREO from 295 m and 21 m at 0.11% TREO from 262 m.
Progress on test work program
SGS Canada started the pilot-plant testing with the preparation of the 5-tonne bulk sample for the pilot-scale flotation test planned for October-November 2023. The objective of the current program is to scale up tests, locked-cycle testing for a higher level of confidence in metallurgy, and confirmation of engineering design criteria for PFS capital and operating cost estimation. The locked cycle tests were completed and confirm a steady circuit. No significant detrimental effect was observed due to the recirculation. Variability tests on 9 samples from the peripheries of planned Area 2B and Area 4 pits were completed. With the low-grade nature and varying mineralogy of the first set of variability samples taken from RC boreholes in the periphery of Area 4 and at TREO grades near cut-off, it was decided to extend the variability test program by a further 9 samples. To further simplify the flowsheet and improve recoveries, future testing will abandon magnetic separation (WHIMS) and focus on iron removal with optimal temperatures during acid bake.
Contact:
Tel: +01 (902) 835-8760
Email: Info@NamibiaCMI.com
This news release contains certain 'forward-looking information' within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as 'plan', 'expect', 'project', 'intend', 'believe', 'anticipate', 'estimate', 'may', 'will', 'would', 'potential', 'proposed' and other similar words, or statements that certain events or conditions 'may' or 'will' occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
NAMIBIA CRITICAL METALS INC. 
