Fintech
E-Tech Resources Inc. Reports High-Grade Diamond Drill Intercepts up to 100 Meters Below Current Resource, Including 6.5% TREO over 4 Meters at Its 100% Owned Eureka Project in Namibia
Halifax, Nova Scotia–(Newsfile Corp. – November 10, 2021) – E-Tech Resources Inc. (TSXV: REE) (“E-Tech” or the “Company”) is pleased to announce assay results for the first step-out diamond drill holes completed at the Eureka REE Project (“Eureka” or the “Project”), located in central Namibia.
Highlights of the seven drill holes which intersected mineralization include:
- Drill Hole ED001: 2.1 % TREO over 2.0 meters from 219.0 meters
- Drill Hole ED002: 1.6 % TREO over 2.2 meters from 140.7 meters
- Drill Hole ED003: 2.6 % TREO over 1.0 meters from 146.0 meters
- Drill Hole ED004: 6.5 % TREO over 3.8 meters, including 11.2 % TREO over 2.2 meters, from 129.9 meters
- Drill Hole ED006: 1.4 % TREO over 1.5 meters, including 3.5 % TREO over 0.6 meters, from 288.8 meters
- Drill Hole ED007: 2.5 % TREO over 1 meter, from 94.2 m
A summary of the assay results received from the seven (7) diamond drill holes completed at Eureka is provided in Table 1.
Elbert Loois, CEO of E-Tech Resources Inc., commented, “The assay results received to date reveal an extension of the mineralization outside of the current resource estimate in several monazite bearing carbonatitic dykes. These results confirm the presence of these dykes to 160 meters vertical depth, while remaining open at depth and along strike. We plan to continue drilling as soon as possible. I congratulate the team with hitting the targets of the first 7 holes of this diamond drilling campaign, and we await assay results from the remaining 13 holes that have been drilled so far.”
The drill holes are part of the Phase 1 resource expansion program across Zones 1, 2 and 3 which was completed in late September 2021 totaling 5,761 meters of diamond drilling (DD) in 20 holes. The assays reported are from seven of the twenty holes drilled. Figure 1 below indicates assays to date in colored dots and assays awaited are shown in white dots.
The Company also completed a Reverse Circulation (RC) drilling campaign in February 2021 totally 3306 meters in 23 holes with a total of an additional 1465 samples. The positioning of the Phase 1 diamond drilling together with the additional RC drilling is displayed in Table 2 below.
FIGURE 2 Coarse-grained monazite in dolomitic carbonatite at 131.5 meters in Hole ED004. Monazite crystals to 6cm and massive monazite marked as M.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6102/102790_etechenhanced.jpg
Assay results from ED004 located on Zone 1 has intercepted four monazite-bearing carbonatite dykes between drill depths 97.7 meters and 183.7 meters, with one dyke returned 4 meters @ 6.5% Total Rare Earth Oxide (TREO). These intercepts confirm expansion of Zone 1 mineralization down-dip of up to 160 meters outside the extent of the current 2021 Mineral Resource Estimate (MRE) for Eureka, and mineralization remains open towards the east. Figure 2 above shows visible coarse-grained monazite in dolomitic carbonatite.
Historical Exploration Highlights
Assay results from the 2017 reverse circulation (RC) drilling campaign are the basis of the current 2021 Mineral Resource Estimate (MRE) of 310 kt at 4.8% TREO, and highlights from that campaign are shown in Table 2 below. The current MRE is constrained to a maximum vertical depth of 60m.
2017 CURRENT RESOURCE RC DRILLING AREA 1 | |||||||
Hole | From | To | Width (m) | Grade TREO % | X | Y | Location |
EU001 | 7 | 8 | 1 | 1.7 | 526387 | 7562533 | Zone 1 |
EU001 | 10 | 16 | 6 | 5.3 | |||
Incl. | 12 | 15 | 3 | 7.0 | |||
EU001 | 19 | 24 | 5 | 1.9 | |||
EU002 | 8 | 11 | 3 | 6.4 | 526391 | 7562555 | Zone 1 |
EU002 | 49 | 50 | 1 | 1.8 | |||
EU002 | 55 | 58 | 3 | 4.8 | |||
EU002 | 61 | 64 | 3 | 2.2 | |||
EU003 | 12 | 13 | 1 | 8.9 | 526414 | 7562513 | Zone 1 |
EU003 | 22 | 25 | 3 | 3.4 | |||
Incl. | 22 | 23 | 1 | 9.7 | |||
EU004 | 11 | 13 | 2 | 2.5 | 526448 | 7562491 | Zone 1 |
EU005 | 16 | 27 | 11 | 7.0 | 526351 | 7562552 | Zone 1 |
Incl. | 17 | 20 | 3 | 12.8 | |||
EU008 | 12 | 17 | 5 | 2.7 | 526167 | 7562530 | Zone 2 |
EU010 | 12 | 18 | 6 | 2.6 | 526144 | 7562520 | Zone 2 |
EU012 | 31 | 36 | 5 | 5.2 | 526190 | 7562532 | Zone 2 |
TABLE 2: Significant Intercepts from 2017 reverse circulation (RC) drilling campaign
Eureka Technical Disclosure
The Corporation produced its current Mineral Resource Estimate (“MRE”) for the Eureka Project with an effective date of 2 August 2021. The MRE was prepared by SRK Consulting (Canada) Inc. (“SRK”). An Independent Technical Report titled: “Independent Technical Report: Eureka, Rare Earth Project, Namibia” was released on 15 September 2021 prepared by SRK, supporting the disclosure of the MRE, and is available on SEDAR and the Corporation’s website.
Quality Assurance / Quality Control
All E-Tech sample assay results have been independently monitored through a quality assurance / quality control (“QA/QC”) program including the insertion of blind standards, blanks and duplicate samples. QA/QC samples make up 10% of all samples submitted. Drill core is sawn in half on site and half drill-core samples are securely transported to the Activation Laboratories Ltd. sample prep facility in Windhoek, Namibia. The core is dried, crushed to 90% passing 2 mm, riffle splitting a 250 g sub-sample and pulverizing to 95% passing 105 µm. Sample pulps are sent to Activation Laboratories Ltd. in Ontario, Canada for analysis. REE analysis is by method 8-REE. Sample ground to 95%-200 mesh to ensure complete fusion of resistate minerals; lithium metaborate/tetraborate fusion; Analysis by ICP-OES and ICP-MS; and Mass balance calculated as an additional quality control technique to ensure complete analysis.
Qualified Person
Pete Siegfried, BSc. (Hons), M.Sc., is a Consulting Geologist and director of GeoAfrica Prospecting Services CC. and has reviewed and approved the scientific and technical information in this news release. Mr. Siegfried is a member of The Australasian Institute of Mining and Metallurgy (AusIMM) membership number: 221116 (CP Geology), and a Qualified Person for the purposes of National Instrument 43-101.
About E-Tech Resources Inc.
E-Tech Resources Inc. (TSXV: REE) is a rare earth exploration and development company focused on developing its Eureka Rare Earths Project in Namibia. The Eureka Project is located approximately 250 km north-west of Namibia’s capital city Windhoek and 140km east of Namibia’s main industrial port Walvis Bay. The project is situated next to the national B1 highway in the Erongo Region of Namibia. The Eureka deposit lies in the Southern Central Zone of the Neoproterozoic Damara Belt within Exclusive Prospecting Licence (“EPL”) number EPL 6762; which covers Eureka Farm 99 and Sukses Farm 90. Namibia is recognized as one of Africa’s most politically stable jurisdictions, with an extremely well-established national infrastructure and a clear and transparent mining law. The Corporation continues to assess new project opportunities and expand its Southern African portfolio.
Further details are available on the Corporation’s website at www.etech-resources.com or contact Elbert Loois, CEO of E-Tech Resources Inc., at +1 (902) 334 1949.
Cautionary Statements
This press release may contain forward-looking information, such as statements regarding the completion of the work in Namibia by E-Tech and future plans and objectives of E-Tech. This information is based on current expectations and assumptions (including assumptions in connection with the continuance of the applicable company as a going concern and general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict, including risks relating to the ability to satisfy the conditions to completion of exploration programs and work in Namibia. Actual results may differ materially from results suggested in any forward-looking information. E-Tech assumes no obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by applicable securities laws. Additional information identifying risks and uncertainties is contained in filings made by E-Tech with Canadian securities regulators, copies of which are available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/102790
Fintech
Central banks and the FinTech sector unite to change global payments space
The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.
Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.
Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).
At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.
The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.
As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.
Source: fintech.globa
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Fintech
TD Bank inks multi-year strategic partnership with Google Cloud
TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.
The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.
This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.
TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.
Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.
TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.
Source: fintechfutures.com
The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.
Fintech
MAS launches transformative platform to combat money laundering
The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.
According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).
Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.
Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.
Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.
Source: fintech.global
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