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Neotech Metals Corp. Reports 190 Meters of 0.23% Nb2O5 and 0.41% TREO Including 54 Meters of 0.32% Nb2O5 and 0.54% TREO at the Western Pike Zone Boundary at Hecla-Kilmer and Completes Debt Conversion
Vancouver, British Columbia--(Newsfile Corp. - April 22, 2025) - Neotech Metals Corp. (CSE: NTMC) (OTCQB: NTMFF) (FSE: V690) ("Neotech" or "the Company") is pleased to announce additional geochemical assay results from its exploratory diamond drilling program of the Niobium and Rare Earth Element ("REE") carbonatites located at the Hecla-Kilmer ("H/K") Project near to Otter Rapids in Northern Ontario. The Company also has completed e a shares-for-debt settlement.
Neotech is reporting assay results from three drill holes: HK24-028 from the West Pike Zone, HK24-030 from the South Rim, and HK24-025 from the Northeast Rim of the Hecla-Kilmer Project. These holes were part of a broader 12-hole program totaling 5,047 meters, completed during the Fall 2024 drill campaign. The 2024 drill program (see Figures 1 & 2) was designed to test for intervals of Total Rare Earth Oxide ("TREO") and Niobium Oxide ("Nb₂O₅") within the alkaline intrusive carbonatite complex.
Highlights from HK24-028 (Western Pike Zone)
From (m)
To (m)
Interval (m)
TREO* (%)
Nb2O5 (%)
106
296
190
0.41
0.23
-Including-
214
268
54
0.54
0.32
Reagan Glazier, CEO, said in comment, "We are pleased to report another strong set of drill results that reinforce the scale and continuity of rare earth and critical mineralization at Hecla-Kilmer. These broad intercepts, coupled with the recently announced positive metallurgical results, position Hecla-Kilmer as a highly compelling, strategically important domestic rare earth project. As global concerns surrounding the secure supply of critical minerals continue to intensify, the combination of promising leachability and potential large-scale mineralization underscores Hecla-Kilmer's value as a foundational asset in the North American supply chain. With the system open in multiple directions, we remain focused on advancing exploration and unlocking its full potential."
Map figure 1 - Pike Zone drill collars and associated drill results.
The 2024 exploration drill program was designed to confirm and validate the previous geophysical surveys that were conducted at Hecla Kilmer in 2020 as well as to identify the structures and mineralized zones present as a preliminary assessment of the site. The results are currently being evaluated to identify potential next phases of development for Hecla-Kilmer. Technical studies will continue in order to advance metallurgical testing and other project assessments for the site.
Upcoming 2025 Exploration Program
Future exploration programs will be guided by the ongoing integration of field data to refine geological, geochemical, and structural models, with the goal of identifying and prioritizing new targets for evaluation. Additional metallurgical test work will also continue to support project advancement and inform potential development pathways.
The Company wishes to focus on additional drilling to delineate a resource to further develop the asset at Hecla-Kilmer. The company also has a drill program slated for its TREO project (fully funded) to test the high-grade mineralization found in bedrock samples from its 2024 field program.
Methodology and Quality Assurance/Quality Control ("QA/QC")
Drillholes were drilled with either NQ or NTW core diameters at various inclined angles, and the reported assay intervals represent downhole core lengths. The true thickness of the mineralization is unknown at this time. The material produced from the diamond drillholes was sampled at two metre intervals with the core split in half, resulting in average sample sizes of 2-4 kg. Half of the core is sent to the analytical laboratory, and the other half is kept in storage as required by industry standards and by Ontario provincial regulations. The original core was logged, photographed, and sampled on location by Neotech personnel.
The bagged and catalogued samples were delivered to Activation Laboratories Ltd. ("Actlabs") in Timmins, Ontario, for initial preparation and final analysis. All sample preparation and analytical work referenced in this report were conducted by Actlabs, an independent geoanalytical laboratory accredited to ISO-IEC 17025:2017 and ISO 9001:2015 standards. In addition to Actlabs' internal QA/QC protocols, Neotech Metals incorporated its own control samples in each batch submitted for analysis.
Quality control samples, including blanks, duplicates, and standards (Certified Reference Materials) were inserted into the sample series at set intervals. For all analysis methods, the minimum number of QA/QC samples was two CRM standards per hole, one duplicate and/or one blank for every 10 samples taken, for a total of 10% QA/QC samples for the entire dataset. The procedures were implemented during the sample collection, preparation and analytical stages to ensure the robustness and reliability of the analytical results. QA/QC data was also verified by an independent third party to ensure the validity of the datasets.
All analytical results reported herein have passed internal QA/QC review and compilation. All assay results of drill core samples were provided by Actlabs, a Certified Laboratory, which performed their measure of the concentration of rare earth elements (REE) with the analytical method that uses lithium borate fusion prior to the second stage sodium peroxide fusion and Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Major Element Oxides were done using the lithium borate analytical method and Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES).
The QA/QC program has been designed in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Exploration Best Practice Guidelines. The procedures implemented are considered appropriate, accurate, and reliable for this style of mineralization, ensuring the integrity and quality of the assay data.
Debt Settlement
The Company also announces that it has settled $139,313.23 in debt owed, in consideration for the issuance of 1,160,944 common shares of the Company (the "Shares") at a deemed price of $0.12 per Share (the "Debt Settlement"). The Company has effected the Debt Settlement to preserve its cash for working capital.
The Debt Settlement will constitute a "related party transaction" for the purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), given 0695809 BC Ltd. is a company wholly-owned by Robert Krause (65,625 Shares), Canmex Consulting & Leasing is a company wholly-owned by Brian Thurston (21,875 Shares) (both directors of the Company) and Philip Ellard, the Company's CFO (52,000 Shares). The Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements under MI 61-101 in respect of the Debt Settlement, on the basis that no securities of the Company are listed on a "specified market" (Section 5.5(b) of MI 61-101) and the fair market value of the Debt Settlement does not exceed $2,500,000 (Section 5.7(1)(b) of MI 61-101). Neither the Company, nor, to the knowledge of the Company after reasonable inquiry, have knowledge of any material information concerning the Company or its securities that has not been generally disclosed. The Company did not file a material change report more than 21 days before the date on which the Debt Settlement was agreed upon in order to secure the Debt Settlement in an expeditious manner.
The Shares issued in connection with the Debt Settlement will not be subject to a hold period as approved by the Canadian Securities Exchange.
ON BEHALF OF THE BOARD
Reagan Glazier, Chief Executive Officer and Director Neotech Metals Corp.
About the Neotech Metals
Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources within promising jurisdictions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties.
The company has a diversified portfolio of Rare-Earth Element and Rare Metals projects, including the Hecla-Kilmer, located 20 km from the Otter Rapids 180MW hydroelectric power generation station and active Ontario Northway railway, along with its TREO and Foothills projects located in British Columbia. All three projects are 100% wholly-owned.
Qualified Person
Technical Information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Jared Galenzoski VP Exploration, P.Geo., and Qualified Person, has reviewed and approved all of the data and statements made for this news release.
*TREO (Total Rare-Earth Oxides) has been used to express the results in the press release. TREO is calculated by converting the elemental ppm to Rare-Earth Oxides using a conversion factor and is the summation of CeO2 + La2O3 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3.
**PMREO (Permanent Magnet Rare-Earth Oxides) has been used to express the results in the press release. TREO is calculated by converting the elemental ppm to Rare-Earth Oxides using a conversion factor and is the summation of Pr6O11 + Nd2O3 + Tb4O7 + Dy2O3
Forward Looking Statements
Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
The CSE has not reviewed, approved, or disapproved the contents of this press release.
