Breaking Metals Stock News -Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF)
Completes Geotechnical Field Data Collection for Wicheeda Rare
Earth Element Project Preliminary Feasibility Study; @defensemetals
Vancouver,
British Columbia – December 27, 2023 (Investorideas.com
Newswire) Rare earth metals news -Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) announces that it has completed all
infrastructure geotechnical field data collection in support of the preliminary
feasibility study (“PFS”) for
its 100% owned Wicheeda Rare Earth Element (“REE”) Project located near Prince George, B.C., Canada.
Read this
news, featuring DEFN In full at https://www.investorideas.com/news/2023/mining/12271DEFN-Wicheeda-Field-Data-Collection.asp
Craig Taylor, CEO of Defense Metals, commented:
“We
are very excited to have completed our 2023 Phase 3 geotechnical program. I
would like to congratulate the APEX and SRK teams for their safe and
professional execution of this work. These multi-phase programs started in
early summer and we now have all field geotechnical data in hand necessary for
the completion of our PFS study which we expect to be finished in Q2 2024.”
Highlights of the 2023 Wicheeda REE Project infrastructure
geotechnical programs include:
·
16
helicopter and track sonic overburden geotechnical drill holes totalling 225.5
metres (Image
1and Image 2);
·
20 excavated
overburden geotechnical test pits totalling 76.8 metres (Image 3);
·
6 diamond drill holes totalling 1,182 metres within
the Wicheeda REE deposit pit shell; inclusive of 4 open pit geochemical drill
holes totalling 920 metres, and in pit exploration holes totalling 262 metres;
·
Shipment of a 2,700 kg metallurgical sample, collected
from drill core, to SGS Lakefield, Ontario for continued flotation and
hydrometallurgical optimization test-work;
·
Initiation of humidity cell testwork on 17 samples,
and 250 kg sample selection for on-site kinetic leach (barrel) testing of
samples representative of anticipated mine waste rock to assess metal leaching
and acid rock drainage potential in support of environmental assessment.
The geotechnical work was completed by SRK
Consulting (Canada) Inc. (“SRK”) with the support of APEX Geoscience
Ltd. (“APEX”).
Image 1: Heli-Sonic Overburden Drilling in PFS Tailings Option Study Area
Image 2: Temporary Bridge Installation to
Access Tailings Study Area
Image 3: Excavated Overburden Test Pits
Underway in Tailings Study Area
Qualified Person
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. (B.C.), Principal and
Consultant of APEX Geoscience Ltd. of Edmonton, Alberta, who is a
“Qualified Person” as defined in NI 43-101.
About the Wicheeda Rare Earth Element Project
Defense Metals’ 100% owned, 8,301-hectare (~20,534-acre)
Wicheeda REE Project is located approximately 80 km northeast of the city of
Prince George, British Columbia; population 77,000. Wicheeda is readily
accessible by all-weather gravel roads and is near infrastructure, including
hydro power transmission lines and gas pipelines. The nearby Canadian National
Railway and major highways allow easy access to the port facilities at Prince
Rupert, the closest major North American port to Asia.
About Defense Metals Corp.
Defense Metals Corp. is a mineral
exploration and development company focused on the development of its 100% owned
Wicheeda Rare Earth Element Deposit located near Prince George, British
Columbia, Canada. Defense Metals Corp.
trades on the TSX Venture Exchange under the symbol “DEFN”, in the United
States, trading symbol “DFMTF” on the OTCQB and in Germany on the Frankfurt
Exchange under “35D”.
Defense Metals
is a proud member of Discovery Group. For more information please visit: http://www.discoverygroup.ca/
For
further information, please visit www.defensemetals.com or 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 expected completion of the PFS and the expected
timeline, the receipt of assays from drilling, continued optimization test-work,
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, accuracy
of assay results, performance of available laboratory and other related
services, future operating costs, interpretation of geological, engineering and
metallurgical data, 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, engineering
and metallurgical results, risks related to the inherent uncertainty of
exploration, metallurgy and development and cost estimates, the potential for
unexpected costs and expenses and those other risks filed under the Company’s profile
on SEDAR at www.sedarplus.ca. 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 personnel, 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, metallurgical 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 and
other viruses and diseases on the business of the Company, 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 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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