Namibia Critical Metals has entered into an agreement for a draw-down equity financing facility with Alumina Partners Ltd. to provide the Company with up to CD$5,000,000 over a 24-month period Draw-downs are at the Company's discretion in increments of up to CD$250,000 The Company has completed a first draw-down of $100,000 which will be directed towards acceleration of the Company's gold exploration programs and provides [...]
Namibia Critical Metals Inc. today provided an update on progress on the Lofdal Heavy Rare Earths Project in northern Namibia, which is a joint venture between the Company and Japan Oil, Gas and Metals National Corporation . As previously announced the Lofdal Joint Venture is operating under a Term 1 budget of CD$3,000,000 with the objectives of doubling the current resource size at Area 4 with a 7,700 m drill program [...]
Namibia Critical Metals Inc. announced it has reached agreements with certain senior management and directors to fully settle an aggregate of $377,103 of unpaid compensation with the issuance of common shares in the Company. Pursuant to the Debt Settlement Agreements, the Company will issue 1,508,412 common shares of the Company at a deemed price of $0.25 per share being a 25% premium to the closing price of the common [...]
Namibia Critical Metals Inc. today announced it has closed the $350,000 non-brokered private placement announced on March 30, 2020 . A total of 2,916,667 units were issued at a price of $0.12 per unit. Each unit consists of one common share and one warrant. Each whole warrant is exercisable for one common share at a price of $0.18 until October 28, 2021. A maximum of 5,833,334 common shares of Namibia Critical Metals will [...]
Erongo gold project covers 606 km2 in the Navachab-Otjikoto gold belt in proximity to Osino Resources Twin Hills gold discovery Priority target area underlain by favourable stratigraphy and structures identified at Twin Hills Soil geochemical survey has collected 2,500 samples covering 30% of priority target area, analyses pending; additional sampling planned Company continues to monitor and manage Namibian responses to [...]
7,700 m of drilling planned at Area 4 with the objective to double the current resource size 1,500 m of drilling planned on exploration targets outside of Area 4 Metallurgical test work initiated on 18 tonne bulk sample to optimize mineral sorting technologies Namibia Critical Metals Inc. today announced that drilling has commenced at the Lofdal Heavy Rare Earths Project in Namibia. Contracts have also been executed with [...]
Namibia Critical Metals Inc. today announced details of the Term 1 planned work program for the Lofdal Heavy Rare Earths Project in northern Namibia. As was recently announced the Company has entered into an agreement with Japan Oil, Gas and Metals National Corporation to jointly explore and develop Lofdal. Following the first meeting of the Management Committee formed by NMI and JOGMEC, the objectives of the initial Term [...]
Discovery of more than 250 individual mineralized dykes covering an area of 30 km2 Average grade of 18.95% TREO from 59 grab samples from the distinct LREE-carbonatite dykes, grades range from 9.64% TREO to maximum of 26.47% TREO Simple mineralogy in carbonatite confirmed as bastnäsite and calcite Mapping and structural analysis continues in early 2020. Geophysical surveys planned , followed by drilling. Namibia [...]
Japan Oil, Gas and Metals National Corporation acquires right to earn up to 50% interest in the Lofdal Heavy Rare Earth Project for project level investment of CDN$20,000,000 After earn-in and completion of feasibility study, JOGMEC provided right to acquire additional 1% interest in the Project for CDN$5,000,000 and to elect to exclusively fund development of the Project subject to Namibia Critical Metal's right to [...]
At the request of IIROC, Namibia Critical Metals Inc. wishes to confirm that the Company's management is unaware of any material change in the Company's operations that would account for the recent increase in market activity. About Namibia Critical Metals Inc. Namibia Critical Metals Inc. holds a diversified portfolio of exploration and advanced stage projects in the country of Namibia focused on the development of [...]
Airborne electromagnetic survey to be flown over Grootfontein mafic complex targeting magmatic Ni-Cu and carbonate-hosted lead-zinc-vanadium deposits Favourable stratigraphy and structure for orogenic Otjikoto-type gold deposits identified at Grootfontein and at Otjiwarongo; soil sampling completed at Otjiwarongo and planned soil survey to follow at Grootfontein Kunene Phase 1 drilling program completed; additional [...]
Local Namibian group to undertake small scale mining operation to exploit manganese occurrence within Kunene Co-Cu project area in exchange for royalty payments Manganese occurrence previously evaluated and deemed to be too small for Namibia Critical Metals to develop but is economic for small scale producer Cash flow from royalty payments will contribute to continued exploration and development of the Company’s Kunene [...]
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