Vancouver, British Columbia – December 12, 2023 – Neotech Metals Corp. (“Neotech” or the “Company”) (CSE: NTMC) (OTCQB: NTMFF) (FSE: V690) is pleased to announce the filing of its National Instrument 43-101 (“NI 43-101”) Technical Report for the TREO Rare Earth Property (“TREO” or the “Property”) located near Prince George, British Columbia.
Key Highlights of the NI 43-101 Technical Report:
- Strategic Location and Access: The TREO Property, situated 80 km northeast of Prince George, encompasses approximately 16,286.30 hectares within 40 unpatented mining claims, wholly owned by Neotech. The Property benefits from excellent access and proximity to crucial infrastructure, including highways, railways, and power supplies.
- Geological Setting and Mineralization: Positioned in the mineral-rich Foreland Belt near the Omineca Belt, the TREO Property is primed for rare earth and rare metal deposits. It primarily comprises Neoproterozoic to Ordovician period rocks, including significant limestone, argillites, and phyllites formations. It is distinguished by the presence of the Carbonatite complex, enriched in light rare earth element (LREE)-bearing minerals such as bastnasite, parasite, and monazite, alongside valuable rare metals like niobium and columbite.
- Extensive Historical and Recent Exploration: The TREO Property has been the focus of exploration activities since the 1960s, with a peak in exploration between 2006-2011. During this period, several companies conducted extensive prospecting, mapping, rock sampling, soil geochemical and geophysical surveys, as well as diamond drilling. Drilling results have consistently shown significant TREO values, such as 4.7% TREO (Total Rare Earth Oxides) over 0.9 m to 1.39% TREO over 37.3 m, among other notable intercepts. In 2023, Neotech embarked on a comprehensive exploration program, collecting 1493 soil samples, 75 stream sediment (silt) samples, and 42 rock samples. The results from these samples are pending but are expected to build upon the historical data and further elucidate Property’s potential.
- Proximity to Established Deposits: Adjacent to the prolific Wicheeda Carbonatite deposit*, the TREO Property’s location demonstrates excellent potential with comparable geophysical signatures and geological occurrences on-trend from the proposed mine, positioning it as a highly prospective exploration target.
- Future Exploration Plans: Neotech has outlined a robust two-phase exploration program to advance the economic potential of the TREO Property. The initial phase, budgeted at approximately $600,817, will focus on high-resolution aerial and ground surveys, mapping, and geochemical sampling.
Mr. Reagan Glazier, CEO and Director of Neotech, commented, “The NI 43-101 Technical Report filing is a significant milestone for Neotech Metals Corp. It not only reaffirms the TREO Property’s potential as a notable rare earth element project but also lays the groundwork for our upcoming exploration endeavors. We are excited about the prospects of the TREO Property and remain committed to responsibly unlocking its value for our shareholders and contributing to the sustainable supply of critical minerals.”
The complete NI 43-101 Technical Report, prepared by Faarnad Geological Consulting Inc., is available on the Company’s website and under its profile on SEDAR+.
The technical information in this news release has been reviewed and approved by Ike Osmani, P.Geo., a consultant to the Company who is a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
*The QP has not verified the resource data and mineralization on the adjacent Wicheeda deposit; therefore, the reader is cautioned that it does not necessarily indicate that mineralization will extend from the adjoining deposit onto the TREO Property.
About Neotech Metals Corp.
The Company is a mineral exploration company based in Vancouver, B.C., which owns 40 rare earth mineral claims (the “TREO Property”) and holds an option on the EBB nickel-cobalt property, all of which are located in British Columbia, Canada.
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Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Forward looking information in this news release include statements relating to the Company’s 43-101 technical report. 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.
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