I think what we'll likely see is that there's going to be more of a tie between the actual rear Earth deposits and how it's going to you know who's going to actually use those materials and you'll find that a lot of these are going to link up [Music] welcome to CEO insights I'm Marilyn De Guzman with investing News Network I'm speaking with Jim McGann chairman and interim CEO of etec resources an exploration and development company based in Halifax Nova Scotia that's


developing a high-grade rare Earth elements project in Namibia welcome Jim thank you for having us yeah so for our viewers who are may not be familiar with the turkey sources could you provide them an overview of what your company is well we're an exploration company we're Pride predominantly focused on rare Earths and we're working in Namibia that's where our our main project the Eureka project is and and the rear Earth that we're targeting most are needed England period let's talk about Namibia it has been


known for its diamond mining sector and in recent years it has also become a significant producer of uranium so how and when did rare Earths become a mineral of interest in Namibia it's been quite some time since the occurrence of rare earth has been known in the country I would say that obviously as the supply chain issue has begun to become more prevalent there's been a lot more activity in the area and there's actually several uh there's a number of companies that are doing some


exploration there but I think we're we're certainly uh feeling like we're one of the leading uh leading explorers in the country at this time right and I understand you have some you've had some really good um results from your exploration at the Eureka project can you talk a bit more about that absolutely so a number of geologists actually got together and founded the company and they they are initially targeted uh the Eureka Zone and uh you know very exciting opportunities uh that


that obviously led to the listing of Eureka and there was quite a bit of drilling that's been done since the company listed a little over a year and a half ago it's been very positive we're extremely uh encouraged about the results that we've had good intercepts throughout our first four zones uh not something that we think we want to do a mineral resource update at this time uh but we've really had an opportunity and recently sort of uh launched a much more elaborate exploration


program throughout the remainder of our property and of course recently we've also acquired the property uh to the east south and slightly to the west of us as well so we dramatically expanded the target area that we had which is focused around a dome that we believe that the Eureka Dome as we call us which we believe as a a a strong possibility of Hosting uh several Rare Earth targets within that and uh we're we're very busy in that area and very encouraged by the initial results we've had so far right


so where do you go from here um following those uh great results well I mean let's have a look at exactly how it happened I mean we took that area around zones one through four and basically we said let's do a best practice analysis here so we looked at what what actually drew the founders to this area what were the occurrences and that correlated with the best grade and then we took the entire property and we looked for the exact same occurrences in that process we identified 17 Target


opportunities and we're in the process right now of investigating those 17 targets to determine just exactly what you know what's the likelihood that they also May host mineralization similar to what we're finding in zones one through four uh you know what we've seen over the past few days is that we've had some really strong strong indicators I mean let's be let's be frank about the exploration business so you know you work on indicators and you continue to prove things along you know we've got


we've got a couple of zones right now that we've released information on that demonstrate that it looked really strong wrongly towards we their drill ready we would definitely want to explore and do more work in that but we've that's just the first couple of zones of the 17 targets you know it would be unlikely at all 17 targets would end up being drill ready for us but I think that we're at this stage we think that there's a real strong opportunity to be several more targets that as the assays and the and


the progress of the work continues we will have a lot more uh drill Targets on that property right and as you uh I guess you know carry on your uh undertake your exploration I want to get your thoughts on the current supply chain landscape for uh where Earth's uh you know China has by far been the biggest producer and Russia is not far behind right um but there's this real big push about on establishing more stable supply for Rare Earth and other critical Metals how realistic do you think it is for the


world to be able to develop that alternative more stable art in Supply I think it's a great opportunity in the in the natural resource industry and I think what you're going to find rehearse I'm not like you know I mean can Canada is a phenomenal and environment or you know place to to to to to promote and to work the natural resource industry we're familiar with we understand is you know most people who are casual investors have a great understanding of what you do for you know uh gold silver copper


nickel in terms of being able to find it to refine it and to get it to Market where are some really not like that at all and they could be extremely complex I think what we'll likely see is that there's going to be more of a tie between the actual rear Earth deposits and how it's going to you know who's going to actually use those materials and you'll find that a lot of these are going to link up so it's it's not so much going to be a country is going to be a supplier I think what you're going


to have is an end user is going to get associated with deposits and and and that process is likely going to happen at it at a a pace that we had not seen in natural resources before the supply chain is tight it's going to get tighter and as that happens there's going to be a need for companies like ours to potentially accelerate our exploration so that we can meet those demands and being able to get either preliminary materials or final alloy materials to those users sooner than you would expect


in any other uh mineral so it's an exciting time in reverse and we think that you know Eureka is extremely well situated you mentioned about Namibia it's it's experience as a minor it's one of the best jurisdictions on the continent there's no question about that we're right next to we're only 100 kilometers away from a court that ships uranium they're used to shipping the kind of materials that that would have that would be associated with rare earth so it's it's not a stretch everybody is


kind of the you know for it for everybody in country this is a process that they can see advancing and advancing quickly and certainly the processes and the the attitude in the government is there uh you know to make this happen hopefully one of the one that one of the uh sooner projects that will likely uh potentially be in in advance for sure right and you mentioned an interesting um uh you know concept about what's that a concept but sort of linking the value chain as as a means to you know


uh Fast Track uh developments of these uh uh protocol metals like rare Earths um is that key you think in in terms of um uh the the goal towards establishing more uh stable Supply chains it is actually extremely key but I think what you're going to end up finding again is it's going to come down to the individual uh deposits because each deposit depending on what material it's in depending on how it presents uh you know we we we have essentially a a mostly monocyte based Rare Earth uh uh


showing at this time and then that provides certain advantages where bassnike would have other advantages or restraints really and I think what you're going to end up finding is that is that end users are going to be looking for deposits that have certain characteristics that work well with their requirements and and Eureka has it has some pretty interesting characteristics I've mentioned before about the you know I mentioned previously about the monocyte we have really large monocyte crystals which


provides certain advantages uh and will offer to to some end users exactly what they would be looking for uh but there could be other restraints so really you really got to advance that project so you get to the point that you know enough about it that you can create those links um you know again I think Eureka's perspective we've got our first album which has been drilled it's showing that mineralization we've got great information about that mineralization and how it presents we've got 17 targets


that we've added on our our existing property and of course recently we added the property which has almost doubled the amount of that Eureka Dome that you know that the hosting uh structure uh so we anticipate having substantially more targets to be able to track down all there's no 17 as uh as that transfer of that property goes into uh into E-Tech so great opportunity and I think there will be end users that will align quite nice to what he took right and you mentioned you know as you advance the


project so obviously you know we're looking to investors um to look into these projects so should investors be or are they looking at in your opinion where the supply of res and critical middles for that matter are coming from when they're making investment decisions obviously I mean listen to be honest with you the number one thing I think about when it comes to E-Check is all Investments are uh you know they're a ratio of risk to reward and you know what E-Tech has done is basically said look our Eureka deposit


which is essentially in the center for a primary property that was one targets we now have multiple targets and we have just added the opportunity to have even more targets what that really is we're doing is reducing the risk it's it's creating so many more opportunities that one of those up one of those areas one of those zones is going to align great with an end user there might be uh there might be multiple end unit users and multiple characteristics within our deposit that will help align that so I


think what we're doing from an investment perspective is we're reducing the risk we're providing more you know to use a Canadian analogy there's more shots on goal you know we we had one shot on goal we now have 17 shots on goal and and we've got almost double that yet to come uh and and you've got that many shots on goal the opportunity of scoring is obviously greater and that's really what an investor looks for how many chances how many opportunities and what risk is associated with those


opportunities versus the potential uh return if everything goes the way they want and I think Eureka is showing a real good at good opportunities for that right that's a great point so what else can investors expect from Eureka or from E-Tech resources for 2023 the next thing to expect from us is we're obviously working quite diligently on those targets uh and trying to determine how many more of these targets are drill ready uh as you know as indicated I think we have one new drill Target that's ready now uh but you know


uh while we're still in process on many of those 17 I think we'll end up with much more I'm sure investors are going to want to watch and see if there are more opportunities there and then of course with the new property we'll be able to uh potentially even identify further targets it will likely be that a very very technical discussion that that ends up relating the qualities of each of those targets with end users uh and and that's going to be a lot more of a difficult process for investors to


follow obviously but again I think from the investment perspective I would say to people you know the the opportunity to have more opportunities more shots on goal you know that that's what this this what this project I think delivers in Spades and and I think that's what they should focus that's great well thanks for coming here and sharing your project update uh to our investor community hey thanks for taking the time to listen about Eureka and E-Tech and thank you for joining us and the join us again


next time for another ndging conversation on CL wins foreign