Additional drill results from TSX-V-listed Namibia Critical Metals’ Area 2B satellite deposit on the Lofdal heavy rare earth project, in northern Namibia, confirm multiple dysprosium zones to 190 vertical meters.
“Continuing positive drill results from Area 2B are confirming the importance of this satellite deposit to add additional heavy rare earth mineral resources to the project,” says president Don Burton.
He adds that prices for dysprosium and terbium oxides continue to strengthen, with dysprosium approaching $300/kg and terbium surpassing $1 100/kg.
Meanwhile, all Term 1 drilling has been completed and the company is expecting results from the remaining 42 holes in Area 2B and Area 4.
Further, following receipt of a ‘notice of preparedness’ to grant the application for a mining licence for Lofdal from the Ministry of Mines and Energy, which is a very significant milestone, the company has lodged its acceptance of the mining licence and awaits finalisation of the process from the ministry.