ReeXploration Commences Exploration Drilling at Eureka Uranium Target
ReeXploration pivots to uranium execution as "interim" leadership launches high-stakes Namibia drill program
On February 9, 2026, ReeXploration Inc. announced the commencement of its first-ever exploration drilling program targeting uranium at the Eureka Project in Namibia. The program is "fully funded" and consists of up to 2,000 metres of diamond core drilling across 12 to 15 holes. The primary goal is to test a 6.5 km by 3.5 km uranium target identified through 2025 geophysical and geochemical surveys. The company is positioning Eureka as a dual-commodity asset, hosting both a previously defined Rare Earth Element (REE) resource and this new uranium potential within the "Alaskite Alley" trend.
The news is a routine but necessary operational milestone following the company’s strategic pivot toward uranium in late 2025. - Execution of Strategy: The news confirms that management is following through on the timeline established in the January 14, 2026, update. - Risk Mitigation: The statement that the program is "fully funded" is critical given the company's historically tight working capital position. - Binary Outcome: While the start of drilling is positive, it carries high exploratory risk. The "Materiality" of this initiative will not be truly known until assays are returned. The market has already partially priced in this program following the $1.0M financing in December 2025. - Pivot Validation: This program represents the first physical test of the company's new geological model which suggests uranium mineralization exists immediately adjacent to its known REE dome.
ReeXploration (formerly E-Tech Resources) is a Canadian explorer focused on the Eureka Project in the Erongo Region of Namibia. - Flagship Project: Eureka. - Status: Holds a maiden NI 43-101 Inferred Resource of 310,000 tonnes @ 4.8% TREO (REE). - Recent Pivot: In late 2025, the company amended its licenses to include nuclear fuels and identified large-scale uranium anomalies adjacent to the REE deposit. Namibia is a top-tier uranium jurisdiction, hosting mines like Rössing and Husab.