Neotech Metals (CSE:NTMC) has completed 8,000m of drilling at the Hecla-Kilmer Project in Ontario, Canada, amid receiving C$133,500 ($139,145) from exercising warrants.
In addition to completing drilling, Neotech has also relogged and reassayed 1,900m of core drilled by Hecla-Kilmer’s previous owner VR Resources between 2020-2023.
The drilling has been relogged and reassayed for the full rare earth suite and is to be included in a maiden resource estimate this year.
Assays are pending on all samples and will be released upon completion.
The company has also amended the escrow terms set out in a 2024 letter of intent with VR Resources, with respect to the Hecla-Kilmer Project. All shares issued to VR Resources will now be released from escrow and be free-trading immediately.
This news comes ahead of the Prospectors & Developers Association of Canada (PDAC), held between 1-4 March 2026 in Toronto, Canada, in which Neotech expects to see supply chain security and geopolitical resilience at the front and centre, as reported.
Speaking to Mining.com.au ahead of the event, CEO Reagan Glazier says with global rare earth processing still heavily concentrated in China, and increasing export controls and regional policy shifts emerging across Asia, the urgency to establish diversified, domestic supply chains has never been higher.
“Our goal is to expand international networks and demonstrate how our geology may help address these structural bottlenecks in a responsible and scalable way,” Glazier says.
As previously reported, global demand for rare earths is rising, as the resource is considered essential for clean energy and advanced technologies.
China has long dominated rare earths processing, accounting for 92% of all processing done for this unique industry in 2025.
Neotech seeks to change the story around rare earths and processing for these key minerals through the Hecla-Kilmer Project. This conflation of rare earths mineralisation within a unique mineralogical deposit has the potential to set up Neotech with a path to processing that can help clear the main bottlenecks for the industry as a whole.
This year’s PDAC event is set to bring together more than 27,000 attendees from over 125 countries for its educational programs, networking events and business opportunities. Mining.com.au is a media partner of this year’s PDAC convention.
Write to Aaliyah Rogan at Mining.com.au
Images: Neotech Metals
