Neotech Metals has signed an agreement with DRA Global to carry out the first National Instrument 43-101-compliant mineral resource estimate (MRE) and a preliminary economic assessment (PEA) for its Hecla-Kilmer Rare Earth project in Ontario, Canada.
Under the agreement, DRA will begin with a gap analysis of the current geological, metallurgical and infrastructure data at Hecla-Kilmer to determine the requirements for preparing the PEA.
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The MRE will use data from Neotech’s 2024 and 2025 drilling campaigns as well as historical drilling records, including updated geological and structural models and quality control checks.
The resulting mineral resource classification will be performed in line with NI 43-101 and Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Definition Standards.
Once the MRE is completed, DRA is expected to produce a PEA that will include a conceptual mine plan, processing flowsheet, capital and operating cost estimates, and an economic evaluation of the project.
The assessment will incorporate results from the ongoing metallurgical programme conducted by Dorfner Anzaplan and will be further supported by the Ontario Critical Minerals Innovation Fund.
Hecla-Kilmer is said to be the only apatite-hosted rare earth project currently being developed in North America.
The project is also evaluating potential co-products such as magnetite, niobium, gallium, tantalum and purified phosphoric acid.
Neotech CEO Reagan Glazier said: “Hecla-Kilmer’s unique apatite-hosted rare earth system is the foundation that is bringing together experienced, technologically advanced organisations like DRA and Dorfner Anzaplan to advance the project.
“Bringing DRA on for both the resource and the PEA means one team carries the project from the drill core to the economics, with no hand-offs in between.
“The West’s rare earth challenge is in processing, not discovery, and an apatite host gives us a different metallurgical pathway than conventional deposits. This engagement moves Hecla-Kilmer from an exploration story to a project with numbers attached.”
In April 2026, Neotech signed an agreement to acquire the Torrance Project from Kenorland Minerals, gaining a 100% interest in the site.
