#REE #Stock News- Defense Metals (TSXV: $DEFN.V) (OTCQB:
$DFMTF) Commences Phase 2 Infrastructure Sonic, Open Pit Geotechnical,
and Exploration Target Core Drilling at Wicheeda #RareEarthElement Project;
@defensemetals
Vancouver,
British Columbia – October 3, 2023: Investorideas.com Newswire, -Mining/Metals/
Green Energy Stock news- Defense Metals Corp. (“Defense Metals” or the “Company”)
(TSX-V:DEFN / OTCQB:DFMTF/
35D: FSE)
is pleased
to announce it has commenced Phase 2 of its planned infrastructure and open pit
geotechnical drilling. Sonic overburden characterization (site infrastructure
geotechnical) and diamond core drilling (open pit geotechnical and near
resource exploration) is expected to be complete within 4 to 6 weeks, with results
to follow. The work, with the support of the Defense Metals’ technical team and
APEX Geoscience Ltd., is being completed by SRK Consulting (Canada) Inc. (“SRK”)
one of the principal consultants for the preliminary feasibility study (“PFS”)
regarding the Company’s Wicheeda Rare Earth Element (REE) Project located near
Prince George, Canada.
Read this in full at https://www.investorideas.com/news/2023/mining/10031DEFN-Wicheeda-REE.asp
Craig Taylor, CEO of Defense Metals, commented:
“We
are pleased to commence Phase 2 geotechnical investigations. This work will
provide critical inputs for the ongoing PFS study, and in the case of exploration
targets have the potential to expand resources. The Company’s technical teams
and principal Engineering contractors continue to push forward keeping us on
track for a planned PFS completion by the end of Q2 2024.”
As previously reported (see
Defense Metals news release dated August 16, 2023) the SRK geotechnical investigation includes the following scopes:
·
Geotechnical engineering (waste rock, tailings, contact water pond, and site infrastructure
geotechnical investigation),
·
Tailings alternative
assessment prior to advancing into PFS-level design of a
preferred alternative, and
·
Geochemical characterization (to support mine planning/waste management and to develop preliminary
water chemistry predictions for the main mine facilities).
Currently two rigs, sonic and core drills, are operating
at the Project, with sonic operations focused on overburden and bedrock
characterization within the potential waste rock storage (WSF) footprint (see Image 1), and
geotechnical core drilling underway with the east highwall of the proposed open
pit (see Image 2).
With WSF drilling nearing completion, sonic
operations are expected to transition to the proposed contact water pond (CWP),
and crusher and conveyor footprints, followed by tailing storage facility (TSF)
and TSF alternative geotechnical investigations.
In pit geotechnical core drilling will progress
from current drilling on the east highwall, followed by south, north, and west
pit walls. Drilling into the south pit wall is expected to collar in REE
mineralized dolomite carbonatite. In addition, geotechnical core drilling of
the west pit wall is co-purposed with testing of a high priority ground radiometric
geophysical anomaly with the potential to represent undiscovered carbonatite
body (see Defense Metals’ news release dated
September 5, 2023).
Image
1: Sonic Infrastructure Geotechnical Drilling Underway Within WSF Area
Image 2: Geotechnical
Drill Core from Hole WI23-80 Wicheeda REE Deposit Open Pit Highwall
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 director
of Defense Metals and a “Qualified Person” as defined in NI 43-101.
About the Wicheeda REE Property
Defense Metals 100% owned, 6,759-hectare (~16,702-acre)
Wicheeda Project is located approximately 80 km northeast of the city of Prince
George, British Columbia; population 77,000. The Wicheeda REE Project 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 completion and expected timelines for sonic and geotechnical
drilling and the expected results and outcomes (including the potential for
undiscovered carbonatite), 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 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
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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