#Mining #Stocks in the News: Defense Metals (TSX-V: $DEFN.V) (OTCQB:
$DFMTF) to Mobilize Second Drill to Wicheeda Rare Earth Element Project; @DefenseMetals
Vancouver, British Columbia – October 5, 2021: Investorideas.com
Newswire, MiningSectorStocks.com and RenewableEnergyStocks.com -Mining/Metals/ Green Energy Stock
News- Defense
Metals Corp. (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is pleased announce plans for the mobilization of a second
diamond drill to expedite its ongoing Wicheeda Rare Earth Element (REE) deposit
resource expansion and delineation diamond drill program.
Read this news, featuring DEFN in full
at https://www.investorideas.com/news/2021/mining/10051Defense-Metals-Second-Drill-Wicheeda.asp
Defense
Metals is currently advancing the road accessible Wicheeda Critical Rare Earth
Element (REE) Property, which 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% LREO[1].
Drilling to date at Wicheeda has been progressing rapidly
with over 1,500 metres in eight diamond drill holes completed to date since
commencement of the drill campaign less than four weeks ago. Rig #1 is expected
to continue drilling on the north end of the Wicheeda REE Deposit, while Rig #2
is expected to commence coring a series of infill holes within the central
deposit area by mid-week (Figure 1).
Craig Taylor, CEO of Defense Metals, stated: “We are extremely pleased to have secured a second
diamond drill to expedite completion of our Wicheeda REE Deposit resource
expansion and delineation program. With this additional drilling capacity, we
expect to be well positioned to deliver on our 2021 exploration goals. Based on
contractor negotiations, we expect the second drill rig to be in a positioned to commence coring by the
mid-week.”
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 completion of drilling and the expected
timelines, results and outcomes, plans for its Wicheeda Property, the
advancement and development of the Wicheeda Property, the technical, financial
and business prospects of the Company, its projects 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 the risks and uncertainties
relating to the interpretation of exploration results, the interpretation of
technical and scientific data, risks related to the inherent uncertainty of
exploration and development and cost estimates and the potential for unexpected
costs and expenses and including those other risks 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 and climate 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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[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)
