#REE #Stocks News: Defense
Metals (TSXV: $DEFN.V; OTCQB: $DFMTF) Announces Plans for 2021 Wicheeda REE
Deposit Resource Expansion and Definition Diamond Drill Program; @DefenseMetals
Vancouver, British Columbia – May 27, 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 plans to complete a diamond drill
campaign during 2021 at its Wicheeda Rare Earth Element (REE) deposit. The
Company plans to complete a minimum of 2,000 metres and up to 5,000 metres of
diamond drilling designed to expand the deposit and further delineate existing
resources.
Read this news featuring DEFN and see images at https://www.investorideas.com/news/2021/mining/05271DEFN-Wicheeda-REE-Deposit.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% LREO[1].
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 unit within the main southern part of the deposit. 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 mineralization[2], and
culminated in the release of the first three-dimensional geological model for
the Wicheeda Deposit and a significant 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 and 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).
Craig Taylor, CEO of Defense Metals, stated: “Defense Metals is
pleased to announce its plans to complete further resource expansion and
delineation diamond drilling at Wicheeda. Building on the success of our 2019
drill program we see a way forward to expanding the deposit northward, which
has the potential to provide additional near surface resources, and to further
delineation of existing inferred resources.”
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 planned drilling on the
Wicheeda Property and the expected outcomes, 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 machinery,
equipment and personnel will be available if and when needed and on reasonable
terms, 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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[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.
