E-Tech Resources Inc. has amended Exclusive Prospecting Licence (EPL) 8748 in Erongo Region to include nuclear fuels—uranium and thorium—as designated commodities.
Until now, E-Tech has focused on rare earth elements (REEs).
The “Nuclear Fuels Designation” allows the company to pursue high-demand minerals essential for clean energy and decarbonisation technologies, complementing its existing REE focus.
According to the company, expanding the commodity scope positions the Eureka Project to benefit from growth in both the rare earth and nuclear fuel markets.
It aligns the project with global demand trends for critical minerals used in renewable energy systems, nuclear power, and advanced manufacturing.
E-Tech secured control over EPL 8748 in March 2023 through a purchase agreement, acquiring an 85% interest for C$210,000 in staged cash payments and 1.2 million common shares.
Namibian partners hold the remaining 15%. EPL 8748 surrounds E-Tech’s wholly owned EPL 6762, consolidating the 56 km² “Eureka Dome” geological structure.
The licence has since been transferred into a Namibian project-level entity owned 85% by E-Tech and 15% locally, fulfilling a key term of the 2023 deal.
The Eureka Project already hosts an inferred mineral resource estimate averaging 4.8% total rare earth oxides (TREO), as outlined in an August 2021 report by SRK Consulting (UK).
This high-grade figure underscores the project’s potential as one of Namibia’s significant rare earth prospects.
In 2024, trenching on EPL 6762 confirmed REE mineralisation in over 90% of sites tested.
A 2023 regional geochemical survey collected approximately 33,000 soil samples, identifying seven anomalies—three of which showed visible monazite. High-resolution UAV magnetic data have refined structural targeting.
These programmes build on earlier drilling of the Eureka deposit, located in the southern central zone of the Damara Belt.
Financially, the company raised C$700,000 in a private placement in August 2023, with insider participation. Brigus Capital Inc., linked to mining investor Wade Dawe, holds about 13.8% of the company’s outstanding shares. Governance initiatives, including the adoption of a Deferred Share Unit plan, aim to align management with the creation of shareholder value.
The Eureka Project benefits from favourable logistics, as it is situated approximately 250 km from Windhoek, 140 km from the Port of Walvis Bay, just 2 km from the B1 highway, and near both rail and power infrastructure. With REE and nuclear fuels now within its exploration mandate, E-Tech plans targeted programmes to identify new critical mineral prospects while expanding and de-risking its existing REE resource base.
