Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) announces support as Founding Member of recently launched Canadian Critical Minerals and Materials Alliance (C2M2A); @DefenseMetals

Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) announces support as Founding Member of recently launched Canadian Critical Minerals and Materials Alliance (C2M2A); @DefenseMetals 

 

Vancouver, BC, January 21, 2021 - Investorideas.com Newswire - Mining/Metals/ Green Energy Stock News Defense Metals Corp. (“Defense Metals”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is pleased to announce its support as a Founding Member of the recently launched Canadian Critical Minerals and Materials Alliance (C2M2A). Defense Metals and nine other C2M2A founders reflect a broad knowledge base across the suite of critical material supply chains; including current & prospective producers and processors, commercial & national laboratories, academia and innovation hubs, and engineering & business experts.

 

Read this news, featuring DEFN in full at https://www.investorideas.com/news/2021/mining/01212Canadian-Critical-Minerals-and-Materials-Alliance.asp

 

Defense Metals support of the C2M2A initiative, representing a clear industry voice to guide Government of Canada policy towards establishing Canadian-based critical material supply chains, will greatly benefit the advancement of its 1,708 hectare (4,220 acre) Wicheeda Rare Earth Element (REE) Property (“Wicheeda”) located near 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].

 

Launched on January 14, 2021 the Canadian Critical Minerals and Materials Alliance is an industry association aimed at advancing resilient critical materials supply chains for Canada’s cleantech economy. The launch of C2M2A builds on the earlier establishment of the Canadian Rare Earth Elements Network (CREEN) in 2013 and its success in building awareness on the growing importance of rare earth elements.

 

Recent geopolitical developments have underscored the importance of the critical materials supply chains necessary for clean energy, electric vehicles, communications, medical and aerospace applications. A coordinated supply chain consortium, which represents both upstream and downstream critical materials producers (e.g., rare earth elements, lithium, cobalt, graphite and others) will help support policymakers and industry players implement strategies that will enable full Canadian participation in the sector.

 

Other international jurisdictions including the European Union, Japan, the United States and Australia have already made announcements on their critical materials strategy. Alliance members agree that it is time for Canada to step up and move forward with its own strategy. Canada is well  positioned to implement its vision for a clean energy future because of its enormous critical minerals resource wealth; however, the  country must implement a strategy to use  this wealth to establish the  downstream processing capacity to create the  refined materials needed in electric vehicle and  battery technologies.

 

Recent announcements by the federal government with Ford Motors and General Motors on their plans to establish more electric vehicle manufacturing capacity in Canada confirm Canada’s commitment to a low-carbon future. C2M2A will help support further investments in this rapidly advancing sector of the economy, particularly in outlining the effort and costs to build value- creating materials chains in Canada.

 

Craig Taylor, CEO comments:

 

“With the support of the C2M2A initiative Defense Metals continues to establish itself as one of the industry leaders in the advancing Canadian-based critical material supply chains. As North America and the world move toward widespread adoption of electric vehicles and other green technologies there will be upward demand pressure on critical REE magnet-metals, principally NdPr. Defense Metals is well-positioned to meet demand for North American-sourced critical REE’s with one of the highest-grade road accessible deposits, with potential to reduce the political and strategic risk of current reliance on Chinese REE sources.”

 

About C2M2A

C2M2A is a non-profit, independent organization with a mission to foster and enhance Canada’s role as a leader in the production of critical materials manufacturing in support of the global transition to a low-carbon, clean-growth economy. By focusing on rapidly advancing the establishment of economic critical materials production and manufacturing capacity, Canada will grow its economy, compete globally and continue to protect the environment. C2M2A will enable stakeholders around the country to collaborate on shared priorities while respecting each jurisdiction’s needs and plans, including the need to ensure the continued competitiveness and viability of businesses. For more information, please visit www.C2M2A.org.

 

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. 

 

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 visit https://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 the Company’s plans for its Wicheeda project, XRT study and the expected benefits and results therefrom, 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. 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)

Breaking #Lithium #Stock News - FIRST ENERGY METALS (CSE: $FE.C) (OTC: $ASKDF) TO ACQUIRE AUGUSTUS LITHIUM PROPERTY IN QUEBEC, CANADA

Breaking #Lithium #Stock News - FIRST ENERGY METALS (CSE: $FE.C) (OTC: $ASKDF) TO ACQUIRE AUGUSTUS LITHIUM PROPERTY IN QUEBEC, CANADA

 

Vancouver, B.C. January 21, 2021 – (Investorideas. Com Newswire) First Energy Metals Ltd. (CSE: FE) (OTC: ASKDF )  ("First Energy" or the “Company) is pleased to announce that it has entered into an option agreement to acquire a lithium exploration property located in Landrienne & Lacorne-Townships, Quebec, Canada. The property consists of three non-contiguous claim groups representing a total area of 627.35 hectares located approximately 40 kilometres northwest of the town of Val d’Or on map sheet 32C/05. The geology and the mineralization of the Augustus property are similar to the geology and mineralization of Quebec Lithium mine located approximately 6 kilometers to the southeast of the property. 

 

Read this news, featuring First Energy Metals in full at https://www.investorideas.com/news/2021/mining/01211FE-Augustus-Lithium-Property-Quebec.asp

 

Augustus Lithium Property Highlights

·        The Property is a part of the Preissac – Lacorne pegmatite fields where spodumene bearing lithium pegmatites were discovered in 1940s’. It has excellent infrastructure support with road network, railway, electricity, water, and trained manpower available locally.

·        Geologically the Preissac-Lacorne area lies within a belt of volcanic and sedimentary rocks intruded to the north by LaMotte batholiths and to the south by the Preissac batholiths and Moly Hill pluton.

·        There are several historical and currently active lithium and molybdenum prospects/mines located approximately 3 km to 20 km from the Property. Some of the important prospects/mines are: Mine Quebec Lithium which was formerly owned by RB Energy, Authier Lithium owned by Sayona Mining of Australia, Valor Lithium, Duval Lithium, Lacorne Lithium, International Lithium, Vallee Lithium, and Moly Hill Mine. All these projects / prospects are at various stages of exploration and development, out of which Mine Quebec Lithium is the most advanced project followed by Authier lithium project. Total lithium resources for this region are over 50 million tonnes at 1% lithium oxide out of which Mine Quebec Lithium has 32 MT at 1.19%Li2O Measured plus Indicated (M+I), Authier has 17.18 million tonnes at 1.01% Li2O (M+I) are the most significant.

·        There are two prominent lithium prospects prospect (Augustus and Canadian Lithium) and one silver on the property which have been explored intermittently sine 1948. Highlights of the Augustus lithium prospect are discussed below. The Company is in the process of compiling data on the other two prospects and will release as soon as possible.

Augustus Lithium Prospect

·        The Augustus pegmatite was explored in 1955 by trenching followed by diamond drilling. The pegmatite is oriented N30°W, extending more than 850 meters along strike with 7.6 meters in average width. Its depth extension is not fully known yet, however previous drilling has intersected high-grade lithium down to 682 feet (207 m). Lithium mineralization is confined to the pegmatite body with an average grade of 1.12% lithium oxide (Li2O) (0.52% Li) across a width of 7.6. meters (Source: Géologie Québec - Results of the query (gouv.qc.ca)).

·        The highlights of the previous drilling results include:1.69% Li2O over 9 feet (2.74m), 1.25% Li2O over 27.5 feet (8.38m), 1.07% Li2O over 20 feet (6.1m), 1.66% Li2O over 12.5 feet (3.8m), and 1.41% Li2O over 27 feet (8.23m) (see Table 1 below) (Source Report GM03952).

·        Based on the 1955 drilling results, the continuity of lithium mineralization is established between all drill holes for over 850 meters strike length down to a depth of 207 m (682 feet) of the Augustus pegmatite body (see Table 1 below). If mineralization continuity can be proven by future drilling down to over 200 meters level as shown in historical drill hole results, a potential resource target of 4 million tonnes at 1% Li2O can be achieved.

Cautionary Statement: Investors are cautioned that the potential quantity and grade mentioned above is conceptual in nature, there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The potential target is based upon historical drilling results taken from report GM03952 (April 27, 1956) and other sources from MRNF Quebec.

 

Table 1: The 1955 highlights of the Augustus prospect diamond drilling (From Report # GM 03952)

 

Historical Hole ID	Core Sample width (Feet)	Li2O %	Depth of intersection (feet)
CL-69	9	1.69	199’
CL-69	26.5	0.72	238’
CL-70	7.0	1.16	18’
CL-70	13.0	0.86	250.5
CL-70	21	1.01	304
CL-71	27.5	1.25	297.5’
CL-74	20	1.07	682’
CL-75	9.5	1.08	560’
CL-75	16.5	1.58	583.5
CL-80X	12.5	1.66	141.5’
CL-80X	27	1.41	294.3’

Note: Core length is not converted to actual width

 

Canadian Lithium Prospect

·        The Canadian lithium prospect is a worked deposit located in Range 1 lot 25-26 in the Landrienne Township at G.P.S 284861 E - 5368288 N. The main outcrop was discovered in 1948 near the boundary line separating the Landrienne and Lacorne Townships. A group of parallel pegmatite dykes associated with Lacorne Batholith contains aggregates of spodumene, lepidolite, quartz and feldspar accompanied by traces of beryl, clevelandite, colombo-tantalite.

·        Drilling at the prospect have shown low grade lithium bearing pegmatite intersections of extensive widths. A total of 11 historical drill holes are located on this prospect. The Company is in the process of compiling historical drilling data on this prospect and will release as soon as possible (Source Reports GM03952 and GM00744).

Cautionary Statement: Investors are cautioned that the above information and the information on the adjacent properties is taken from the publicly available sources. The Company has not been able to independently verify the information contained. The information is not necessarily indicative of the mineralization on the Property, which is the subject of this news release. The Company will need to conduct exploration to confirm historical mineralization reported on the property and there is no guarantee that significant discovery will be made as a result of its exploration efforts. The Company is in the process of compiling exploration and geological data available on the property and surrounding area to develop an exploration work plan.

 

Transaction Details:

 

Pursuant to a property purchase agreement between the Optionor (Mr. Fayz Yacoub) and the Company, dated January 18, 2021 (the “Effective Date”), First Energy holds an option to acquire a 100% interest in the Property by making cash payments, common shares issuances and exploration expenditures as follows:

 

(a)         the Optionee making the following cash payments to the Optionor:

 

(i)          $35,000 to be paid on the Effective Date;

(ii)         $40,000 to be paid upon the first anniversary of the Effective Date;

(iii)        An additional $45,000 on or before the second anniversary of the Effective Date;

(iv)     An additional $60,000 on or before the third anniversary of the Effective Date; and

 

(b)         The Optionee allotting and issuing the following common shares in its capital stock to the Optionor subject to the approval of the regulatory bodies as follows:

 

          (i)       500,000 shares at deemed price of $0.05, issued upon the Execution of the option Agreement  

          (ii)      An additional 500,000 shares issued on or before the date of being one year from signing the agreement.

          (iii)     An additional 500,000 shares issued on or before the date of being two years from signing the agreement.

(iv)        An additional 500,000 shares issued on or before the date of being three years from signing the agreement.

(c)      The Optionee incurring the following Expenditures on the Property

 

(i)       $50,000 on or before the first anniversary of the Effective Date;

(ii)      An additional $150,000 on or before the second anniversary of the Effective Date; and

(iii)     An additional $300,000 on or before the third anniversary of the Effective Date;

 

The Optionor will retain a 2.0 % NSR from any future production.

 

This above noted agreement is with a non-related party and there are no directors, officers or senior management in common. Closing of the Transaction is subject to obtaining all required approvals, including the CSE and including any other regulatory approval.

 

Afzaal Pirzada, P.Geo., who is a consultant of the Company, and a “Qualified Person” for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.

 

About First Energy Metals Limited

First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the precious metal, base metal and industrial metals sector.

 

The company's strategy is to:

·        Acquire and advance projects through prospecting and early-stage exploration;

·        Source joint venture partners to finance future exploration and project development;

·        Create shareholder value through exploration success.

First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.

 

 

ON BEHALF OF THE BOARD OF

FIRST ENERGY METALS LTD.

 

"Gurminder Sangha"

Gurminder Sangha

President & Chief Executive Officer

For further information, please contact the Company at:(604) 375-6005 or gsangha@firstenergymetals.com

 

Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

 

Forward-looking Information 

Except for the statements of historical fact, this news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. “Forward-looking information” in this news release includes information about the Company’s proposed Transaction with  Mr. Fayz Yacoub; and other forward-looking information includes but is not limited to information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.

 

Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, the Company’s proposed Transaction with Mr. Fayz Yacoub may not be completed on the terms and timing currently contemplated, or at all; and other risks as more fully set out in the Company’s continuous disclosure filings at www.sedar.com.

 

The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about the Company’s ability to obtain required approvals and close the proposed Transaction with Mr. Fayz Yacoub. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

Paid News -Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure : this news release featuring First Energy Metals is a paid for service  on Investorideas.com More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

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FIRST ENERGY METALS LIMITED                     1206 – 588 Broughton Street                             Canadian Securities Exchange: FE Vancouver, British Columbia                            U.S. 20-F Registration: 000-29870                         Canada, V6G 3E3                                             OTC Bulletin Board: ASKDF Email: gsangha@firstenergymetals.com                           Frankfurt Stock Exchange: A2JC89