#Mining #Stocks in
the News- Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Commences 2021
Wicheeda #REE Deposit Resource Expansion and Definition Diamond Drill Program; @DefenseMetals
Vancouver, British Columbia, September 9,
2021 –Investorideas.com Newswire,
MiningSectorStocks.com and RenewableEnergyStocks.com -Mining/Metals/ Green Energy Stock
News- Defense
Metals Corp. (“Defense Metals”)
(TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is pleased to announce commencement of diamond drilling
at its Wicheeda Rare Earth Element (REE)
deposit. The Company plans
to complete up to 5,000 metres of diamond drilling designed to expand the deposit
and further delineate existing resources.
Read this news and
see images featuring DEFN in full at https://www.investorideas.com/news/2021/mining/09091DEFN-Wicheeda-REE-Diamond.asp
The road accessible
Wicheeda REE Property is located close to infrastructure approximately 80 kilometres northeast of Prince George, British
Columbia (BC). The Wicheeda project
has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO
(Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO1.
During 2019, the Company
completed 13 diamond
drill holes totalling
2,005 metres that expanded the Wicheeda deposit to the north, where
it remains open, and further delineated the relatively higher-grade, near surface
dolomite carbonatite. The 2019 drill campaign yielded
one of the highest grade
REE intercepts to date within drill hole WI19-31 that returned 4.43% LREO over 83 metres;
including 5.47% LREO over a drill core interval of 33 metres ending in
mineralization2.
The 2019 exploration resulted in a
49% tonnage and 30% grade increase in mineral resources (see Defense Metals News Release Dated May 13, 2020).
The 2021 Wicheeda diamond drill
program is designed to build on the successes of the 2019 campaign in support of future advanced
economic studies. The 2021 drill program will focus on expanding the zone REE mineralized dolomite-carbonatite to the north,
in addition to further delineating
existing inferred resources within the central and northwestern areas of the
deposit (Figure 1). A comprehensive campaign totalling 32 holes from seven
drill pads ranging in depth from 75 to 225 metres over a 400 metre north-south strike extent is planned.
Craig Taylor, CEO
of Defense Metals, stated: “Defense Metals is
excited to commence its 2021 resource
expansion and delineation diamond drilling at Wicheeda. We expect completion of
the 2021 campaign will further solidify
Wicheeda as one of the premier north American REE assets, and subject to a successful PEA, leave us
well positioned to initiate further advanced economic studies.”
1 Technical
Report on the Wicheeda Property, British Columbia, effective June 27, 2020 and
prepared by APEX Geoscience Ltd.
(Steven J. Nicholls, B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo.) is
available under Defense Metals Corp.’s profile on SEDAR (www.sedar.com)
2 The
true width of REE mineralization is estimated to be 70-100% of the drilled
interval. See Defense Metals News Release Dated November 27, 2019.
Figure 1. Wicheeda REE Deposit 2021 Drill Plan
See image
at
https://www.investorideas.com/news/2021/mining/09091DEFN-Wicheeda-REE-Diamond.asp
About the Wicheeda REE Property
The 1,708 hectare
Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is
readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN railway and major highways.
Geologically, the
property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature.
The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which
includes several carbonatite
and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.
Qualified Person
The
scientific and technical
information contained in this news release as it relates
to the Wicheeda REE
Property has been reviewed and approved by Kristopher
J. Raffle, P.Geo. (BC) Principal and Consultant
of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals
and a “Qualified Person”
as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the
data disclosed which includes a review of the analytical and test data underlying
the information and opinions contained therein.
About Defense
Metals Corp.
Defense
Metals Corp. is a mineral exploration company focused on the acquisition of
mineral deposits containing metals
and elements commonly used in the electric power market, military, national
security and the production of “GREEN” energy
technologies, such as, high strength
alloys and rare earth
magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property
located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on
the TSX Venture Exchange, in the
United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt
Exchange under “35D”.
For further
information, please contact:
Todd
Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca
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 news
release.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains “forward‐looking information or statements” within the meaning
of applicable securities laws, which may include,
without limitation, statements relating to the ongoing optimization test work and the expected
outcomes, operation of a future hydrometallurgical pilot plant, plans
for its Wicheeda Property, the advancement and
development of the Wicheeda Property, the technical, financial and business prospects of the Company,
its project and other
matters. All statements in this news release, other than statements of
historical facts, that address events or developments that the Company
expects to occur,
are forward-looking statements. Although the Company
believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future
performance and actual results may differ materially from those in the
forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business
strategies and the environment in which the Company will operate in the
future, including the price of rare earth elements,
the ability to achieve its goals, that general business and economic conditions
will not change in a material adverse
manner, that financing will be available if and when needed and on reasonable
terms. Such forward-looking information
reflects the Company’s views with respect to future events and is subject to
risks, uncertainties and assumptions,
including those filed under the Company’s profile on SEDAR at www.sedar.com. While such
estimates and assumptions are
considered reasonable by the management of the Company, they are inherently
subject to significant business,
economic, competitive and regulatory uncertainties and risks. Factors that
could cause actual results to differ
materially from those in forward looking statements include, but are not
limited to, continued availability of
capital and financing and general economic, market or business conditions,
adverse weather conditions, failure
to maintain or obtain all necessary government permits, approvals and
authorizations, failure to maintain community
acceptance (including First Nations), decrease in the price of rare earth
elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate,
increase in costs,
litigation, and failure
of counterparties to perform
their contractual obligations. The Company does not undertake to update forward‐looking statements or forward‐looking
information, except as required by
law.
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