#RareEarth #Metals #Stock Defense Metals (TSX-V: $DEFN.V) (OTCQB:
$DFMTF) Announces
Appointment Rare Earth Processing Expert John Goode to Advisory Board;
@Defensemetals
Vancouver,
British Columbia – February 7, 2022: 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 addition of
John Goode, P.Eng. an internationally recognized rare earth element processing
expert to the Defense Metals advisory board.
Read this news,
featuring DEFN in full at https://www.investorideas.com/news/2022/mining/02071DEFN-John-Goode.asp
Mr.
Goode has been responsible for design, monitoring, and interpretation of several
programs of beneficiation and hydrometallurgical testwork, engineering and
economic evaluations of new and existing processing operations for the recovery
of rare earth element (REE), gold, base metals, uranium, and other elements
from ore and other sources. John graduated from the Royal School of Mines,
London University in 1963, where he obtained a B.Sc. (Chemical Engineering in
Metallurgy). John spent 18 years at Kilborn Engineering, where he attained the
title of Vice President, Mining and Metallurgy and Director, managing a team of
mining and metallurgical engineers responsible for feasibility and due
diligence studies, and the design and commissioning of REE recovery and
separation facilities, gold, base metal, and uranium plants. He has over 50 years experience as a
metallurgist and has worked on numerous rare earth projects located in Canada,
USA, China, Australia, Russia, and elsewhere.
Most
recently John worked as a special consultant to SRK Canada Inc. providing design
and capital and operating expenditure estimates for metallurgical processes in
the recent positive Wicheeda REE Project preliminary economic assessment (PEA)[1]. John
was instrumental in identifying potential simplified alternative
hydrometallurgical processes for Wicheeda mill feed that have th potential to yield
future process-cost savings.
Luisa
Moreno, President and Director of Defense Metals commented: “We are extremely
pleased to add John Goode, an internationally recognized rare earth element
processing expert, to the Defense Metals advisory board. John has already
contributed significantly to metallurgical process development of the Wicheeda
REE Project, and we expect him to continue to bring his considerable expertise
to bear in adding value to the Project as we advance towards a Pre-Feasibility
Study.”
About the Wicheeda REE Property
The 2,008-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.
The Wicheeda REE Project yielded a robust 2021
PEA that demonstrated an after-tax net present value (NPV@8%) of $517 million,
and 18% IRR1. A unique advantage of the Wicheeda REE Project is the
production of a saleable high-grade flotation-concentrate. The PEA contemplates
a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation
with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life
producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit
strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher
grade surface mineralization in year 1 and payback of $440 million initial
capital within 5 years.
Qualified Persons
The
scientific and technical information contained in this news release as it
relates to the Wicheeda REE Project 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 NI 43-101.
About
Defense Metals Corp.
Defense Metals Corp. is a mineral
exploration company focused on the acquisition, exploration, and development 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 owns 100% of the Wicheeda Rare Earth Element Property located near Prince
George, British Columbia, Canada.
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 advancing the
Wicheeda REE Project, the Company’s plans for its Wicheeda REE Project,
including a pre-feasibility study, 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 anticipated costs
and expenditures, 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 and climate conditions, failure to maintain or obtain all
necessary government permits, approvals and authorizations, failure to maintain
community acceptance (including First Nations), risks relating to
unanticipated operational difficulties (including failure of equipment or
processes to operate in accordance with specifications or expectations, cost
escalation, unavailability of materials and equipment, government action or
delays in the receipt of government approvals, industrial disturbances or other
job action, and unanticipated events related to health, safety and
environmental matters), risks
relating to inaccurate geological and engineering assumptions, 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, an inability to predict and
counteract the effects of COVID-19 on the business of the Company, including
but not limited to, the effects of COVID-19 on the price of commodities,
capital market conditions, restriction on labour and international travel and
supply chains, loss of key employees, consultants, or directors, 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]Independent
Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project,
British Columbia, Canada, dated January 6, 2022, with an effective date of
November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under
Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com)
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