#REE #Mining #Stock News: Defense Metals (TSX-V: $DEFN.V) (OTCQB:
$DFMTF) Completes Resource Expansion Drilling Program; @DefenseMetals
Vancouver, British Columbia – November 10, 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 to announce the completion of the 2021 drilling program at its Wicheeda
Rare Earth Element (REE) deposit. The Company drilled a total of 5,349 metres
in 29 holes designed to expand the deposit and further upgrade existing
resource to measured and indicated categories.
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see the images at https://www.investorideas.com/news/2021/mining/11101DEFN-Defense-Metals.asp
Currently,
the Wicheeda
deposit 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].
The
Company’s previous, and highly successful, 2019 drilling campaign resulted in a
49% increase in tonnage and a 30% increase in resource grade (see Defense
Metals News Release Dated May 13, 2020). The now complete 2021 drilling
program successfully accomplished the Company’s goal of identifying the
expansion of the REE mineralized dolomite-carbonatite zone to the north, in
addition to further delineating existing resources mineralization zones within
the central and northwestern areas of the deposit (Figure 1).
Drilling
within the northern sector of the Deposit occurred over an area of
approximately 200 x 100 metres where multiple drill holes intersected visually
mineralized dolomite carbonatite beyond depths predicted in the geological
model, both laterally and vertically (see Defense Metals news release dated
September 21, 2021). Drilling within the southern area of the deposit,
primarily designed to upgrade existing inferred and indicated resources, has
also confirmed and in some cases expanded the mineralized dolomite carbonatite
zone.
Samples
will be sent to ALS Canada Ltd. (ALS), an ISO-IEC 17025:2017 and ISO 9001:2015
accredited geoanalytical laboratory, for analysis by ICP-MS fusion. The Company
expects to release the drilling results as they are received during Q1 2022.
Craig Taylor, CEO of Defense Metals, stated: “We are pleased to have completed our 2021 drilling
campaign. Our expectation is of expanding and upgrading the current Wicheeda
REE Deposit mineral resource. We believe the 2021 drilling results, once
released, will firmly place the Wicheeda REE Deposit among the most significant
rare earth deposits in North America.”
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 near 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, defense industry, national security sector and in the
production of green energy technologies, such as, rare earths magnets used in
wind turbines and in permanent magnet motors for electric vehicles. Defense
Metals has an option to acquire 100% of the 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 plans for its
Wicheeda Property, shipment of samples, assays, drill results and expected
timelines, results and outcomes, expanded resource and scale of expanded
resource, the completion of the preliminary economic assessment, 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 the risks and uncertainties
relating to the interpretation of exploration results, risks related to the
inherent uncertainty of exploration and cost estimates, the potential for
unexpected costs and expenses and 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 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, delayed drilling results, 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)
