Namibia Critical Metals Commences Additional In-Fill Drilling for the Expanded "Lofdal 2B-4" Heavy Rare Earth Project

HALIFAX, NS / ACCESSWIRE / November 6, 2023 / Namibia Critical Metals Inc. ("Namibia Critical Metals" or the "Company" or "NCMI") (TSXV:NMI)(OTCQB:NMREF) is pleased to announce the commencement of the final phase of drilling for its Pre-Feasibility Study (PFS) on the "Lofdal 2B-4" heavy rare earth project.

The final drill phase entails seven very deep reverse circulation (RC) boreholes for a total of 2,505 m in the Area 4 main deposit. The drill program is expected to be completed by early December 2023. The holes were originally planned as a separate diamond core (DC) drilling campaign. However, RC infill drilling earlier this year has proven to produce qualitatively equal data while costs and time can be reduced significantly (see press release of 8 September 2023).

While five boreholes represent infill boreholes in the deeper part of the central Area 4 deposit, two of the boreholes aim at the same time at resource expansion at the newly established mineralized zone in the western part of the Area 4 deposit (see press release of 8 September 2023).

Darrin Campbell, President of Namibia Critical Metals, stated:

"With only seven boreholes left, we are moving a big step forward towards completion of the PFS for our large-scale Dysprosium-Terbium project Lofdal 2B-4. While infill drilling is rather a technical necessity, I'm thrilled to see what the two additional boreholes in the newly identified mineralized zone at western Area 4 will show. These holes have a realistic potential to further extend the Area 4 deposit. Beyond that remains a massive upside in growing the resource with future exploration outside Areas 2B and 4 which only represent a small fraction of the large-scale mineralized system on our Lofdal Mining License area."

Foto: Accesswire

Figure 1: Impressions from the final infill drilling campaign at Lofdal: Drill rig of Prinsloo Drilling allowing for precise high-quality RC drilling to over 400 m depth at central Area 4 deposit (left), sample line up and recording (centre), and gamma logging of the first 360 m hole by Gecko Exploration on Thursday, 2 November 2023.

About Namibia Critical Metals Inc.

NCMI is developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Demand for these critical metals used in permanent magnets for electric vehicles, wind turbines and other electronics is driven by innovations linked to energy and technology transformations. The geopolitical risks associated with sourcing many of these metals has become a repeated concern for manufacturers and end users. Namibia is a proven and stable mining jurisdiction.