iTECH CONFIRMS RARE EARTH POTENTIAL AT THE EYRE PENINSULA KAOLIN PROJECT

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WATCH: MD Mike Schwarz discuss these results

HIGHLIGHTS:

  • Results from first batch of 10 historical drill hole samples received

  • Over 1,100 ppm total rare earth element oxides in clay fraction

  • Enriched in high value rare earths used in permanent magnets in wind turbines and electric vehicles

  • Potential for dual high purity kaolin and rare earth product streams to de-risk the project

  • Clay beneficiation significantly increases rare earth grades to ~180%

  • Best drill hole expected in next batch of analysis

DETAILS:

iTech Minerals Ltd (ASX: ITM, iTech or Company) has received the first batch of analytical results from resampling of historical drilling at the Ethiopia Prospect on the Eyre Peninsula, South Australia. The results have confirmed iTech’s view of the dual potential for high purity kaolin and coincident ion adsorption clay (IAC) rare earth element (REE) mineralisation.

Significant Total Rare Earth Element Oxides (TREO) occur in all 10 holes sampled with an average beneficiation to 180% in the clay fraction (<45μm). The rare earths display significant enrichment of neodymium and praesidium (~23% Nd+Pr), which are critical in the production of permanent magnets for electric vehicles and renewable energy.

“The nature of high purity kaolin and REE mineralisation at Ethiopia opens the path for an extremely low-cost source of these two critical minerals. Processing of the high purity kaolin increases the REE grades and extracting the REEs makes a higher quality kaolin product, leading to more financially robust project economics”

WATCH: MD Mike Schwarz discuss these results

All 10 sampled drill holes returned significant REE results including: ​

• ETH-01 – 6m @ 896 ppm TREO (-45μm) from 0m

  • including 2m @ 1104 ppm TREO (-45μm) from 4-6m

• ETH-03 – 6m @ 696 ppm TREO (-45μm) from 0m

• ETH-13 – 10m @ 784 ppm TREO (-45μm) from 0m

• ETH-16 – 6m @ 502 ppm TREO (-45μm) from 20m

• ETH-32 – 6m @ 552 ppm TREO (-45μm) from 2m

• ETH-33 – 18m @ 652 ppm TREO (-45μm) from 0m

  • including 6m @ 1062 ppm TREO (-45μm) from 14-20m

• ETH-34 – 24m @ 411 ppm TREO (-45μm) from 2m

• ETH-36 – 4m @ 504 ppm TREO (-45μm) from 18m

• ETH-37 – 6m @ 876 ppm TREO (-45μm) from 2m

• ETH-38 – 8m @ 812 ppm TREO (-45μm) from 2m