Namibia Critical Metals Commences Exploration and Infill Drilling Programs and Welcomes Toyota-Tsusho Partners to Lofdal Site
Rhea-AI Summary
Namibia Critical Metals (OTCQB: NMREF) has started a major 2026 drill program at its Lofdal heavy rare earths project in Namibia. The campaign began on 3 June 2026 and includes 83 reverse circulation holes totaling about 13,000 meters plus a deep core hole to around 800 meters.
Objectives include a maiden resource for the 1.5 km Area 5 xenotime system, resource infill and expansion at Areas 2B and 4, and testing a deeper extension at Area 4 for a potential future underground mining option. The company also hosted senior JOGMEC and Toyota-Tsusho representatives for a Lofdal site visit and stakeholder meetings.
AI-generated analysis. Not financial advice.
Positive
- 2026 drill program plans 83 RC holes totaling about 13,000 meters
- Maiden resource targeted for 1.5 km xenotime system at Area 5
- Infill and expansion drilling aimed at increasing Measured and Indicated resources
- Deep core hole to ~800m may inform future underground mining option
- Active engagement with partners JOGMEC and Toyota-Tsusho at Lofdal site
Negative
- None.
News Market Reaction – NMREF
On the day this news was published, NMREF gained 7.00%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Halifax, Nova Scotia--(Newsfile Corp. - June 11, 2026) - Namibia Critical Metals Inc. (TSXV: NMI) (OTCQB: NMREF) ("Namibia Critical Metals" or the "Company" or "NCMI") is pleased to announce commencement of a significant drill program at its Lofdal Heavy Rare Earths project in Namibia.
The drill program commenced on 3 June 2026 and aims at:
Maiden resource for the 1.5 km long xenotime-mineralized system at Area 5 between the currently planned Area 4 and Area 2B pits
First deep hole to be drilled in potentially extending deposit of Area 4 to 800m depth for studies on a future underground mining option
Increase Resources of Measured Category at Area 4
Increase Indicated and Measured Resources at Area 2B
Darrin Campbell, President of Namibia Critical Metals, stated:
"We are excited about the potential impact of this drilling campaign of not only expanding resources in our deposits with already existing mine plans but also stepping into potential additional satellite resources at Area 5.
"Testing the extension of the Area 4 deposit to a depth of about 800 meters has the biggest potential impact for further mine life or increased throughput. Our experts in underground mining design are on standby to potentially guide the project to a significant expansion of the mine."
Drill Program 2026
Reverse circulation (RC) drilling of 83 drillholes is planned with two rigs over the next five months for a total drill production in the range of 13,000 meters.
The 2026 drill program comprises of mainly resource infill and expansion drilling at Area 2B and Area 4 as well as systematic drilling of a total of 5,670 meters along the Area 5 mineralized system, see map below.
Core drilling will be used to tests the depth extension of the Area 4 deposit with an expected intercept at about 800 meters vertical depth.
Figure 1: Drill plan of the 2026 drill program at Lofdal: Green triangles = resource infill and expansion drilling at Area 2B and Area 4. Blue triangles = Exploration drilling for a maiden resource at Area 5. Red triangle = collar position of the deep borehole downdip of the Area 4 deposit. Black triangles = historical drilling.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12470/301160_bc922bf8748958a9_002full.jpg
The Company was also pleased to host senior executives from its partners, JOGMEC and Toyota-Tsusho, to a site visit at Lofdal and hold stakeholder update meetings with senior Namibian government representatives and the communities.
Figure 2: Visit of representatives of Toyota Tsusho and JOGMEC at a drill site at Area 2B and at the core shed in Khorixas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/12470/301160_figuretwo.jpg
About Namibia Critical Metals Inc.
NCMI is developing the Tier-1 Heavy Rare Earth Project, Lofdal, a globally significant deposit of the heavy rare earth metals dysprosium and terbium. Demand for these critical metals used in permanent magnets for electric vehicles, wind turbines and other electronics is driven by innovations linked to energy and technology transformations. The geopolitical risks associated with sourcing many of these metals have become a repeated concern for manufacturers and end users. Namibia is a proven and stable mining jurisdiction.
The Lofdal Project is fully permitted with a 25-year Mining License and is under a funding agreement with Japan Organization for Metals and Energy Security (JOGMEC).
About Toyota Tsusho Corporation
Toyota Tsusho Corporation is the trading and business development arm of the Toyota Group and one of Japan's leading global trading houses. The company operates across a wide range of sectors including metals, energy, chemicals, mobility, and advanced materials. Toyota Tsusho plays a significant role in building global supply chains for critical minerals and materials used in automotive electrification, renewable energy systems and advanced manufacturing.
Japan Organization for Metals and Energy Security (JOGMEC) and the JOGMEC Agreement
JOGMEC is a Japanese government independent administrative agency which seeks to secure stable resource supplies for Japan. JOGMEC has a strong reputation as a long term, strategic partner in mineral projects globally. JOGMEC facilitates opportunities with Japanese private companies to secure supplies of natural resources for the benefit of the country's economic development.
Rare earth elements are of critical importance to Japanese industrial interests and JOGMEC has extensive experience with all aspects of the sector. JOGMEC provided Lynas with USD
Namibia Critical Metals owns a
To date, JOGMEC has completed Term 2 and earned a
Rainer Ellmies, PhD, MScGeol, EurGeol, AusIMM and Vice President of Namibia Critical Metals Inc., is the Company's Qualified Person and has reviewed and approved this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
| Namibia Critical Metals Inc. | Renmark Financial Communications Inc. |
| Darrin Campbell, President | Preston Conable: pconable@renmarkfinancial.com |
| Tel: +01 (902) 835-8760 | Tel.: (416) 644-2020 or (212) 812-7680 |
| Email: Info@NamibiaCMI.com | www.renmarkfinancial.com |
| Web site: www.NamibiaCriticalMetals.com |
This news release contains certain "forward-looking information" within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. The Forward-Looking Statements in this news release relate to, among other things; the estimation of Mineral Resources and Mineral Reserves and the realization of such mineral estimates; the statements and other results of the PFS discussed in this news release, including, without limitation, project economics, financial and operational parameters such as expected throughput, production, processing methods, cash costs, operating costs, other costs, capital expenditures, cash flow, NPV, IRR, payback period, life of mine and REE price forecasts These statements are only predictions. Forward-looking information is based on the opinions and estimates of management and the QP's at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/301160