#RareEarth #Mining News:
Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Completes Quarterly Baseline
Environmental Monitoring Work At Its Wicheeda #REE Carbonatite Deposit; @DefenseMetals
Vancouver, British Columbia – February 23, 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 completion of quarterly stream flow measurements, and water
quality sample collection; in addition to installation of snow survey markers,
weather station data download, and equipment checks at its Wicheeda Rare Earth Element
(REE) Property.
Read this news,
featuring DEFN in full at https://www.investorideas.com/news/2021/mining/02231DEFN-Wicheeda-REE-Carbonatite-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].
Despite
higher than normal winter temperatures creating challenging ice conditions,
with most stream sites still experiencing open water, environmental monitoring
crews were able to complete the planned stream flow measurements and water
chemistry sampling.
Quarterly site visits,
scheduled as part of a two year program of baseline environmental data
monitoring initiated during summer 2020, are completed by Defense Metals’
environmental consultants; EDI (Environmental Dynamics Inc.) and Hydrologica Environmental Consulting
Inc. Defense metals is also pleased to announce the engagement of Northern
Spruce Contracting Ltd., a 100%
aboriginal owned company established in 2010 to provide environmental
contracting services throughout northern British Columbia.
Craig Taylor, CEO of Defense Metals, stated: “Continuation of baseline environmental monitoring
and ensuring we remain on schedule with completion of quarterly field visits
demonstrates our commitment to advancing the Wicheeda REE Project. Defense Metals continues to be one of the
most active companies in the rapidly emerging REE space as we work in parallel
on all facets of project development including: baseline environmental,
pilot-scale metallurgical studies; in addition to economic modelling and
scenario analysis as we work towards completion of a PEA during 2021.”
About
Northern Spruce
Northern
Spruce Contracting Ltd., a 100% aboriginal owned company, was established in
2010 to provide environmental contracting services throughout northern British
Columbia. Northern Spruce is owned by Cheryl Chingee and Marcel Gagnon, members
of the McLeod Lake Indian Band and the Lheidli T’enneh First Nation,
respectively. Northern Spruce’s vision is to be a valued resource and service
provider for clients working in northern BC. Northern Spruce’s mission is to
create a long-term sustainable business that provides the field services
required by natural resource industry clients to minimize environmental
impacts; and give back to our communities by providing employment and training
opportunities when possible.
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 the PEA,
plans for the Wicheeda Property, 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
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)
