#ExploringMining #Podcast 253 – News from (TSXV: $DEFN.V) (OTCQB: $DFMTF) (TSXV: $BNCH.V) (TSXV: $SPA.V) (TSXV: $CVV.V)

 

#ExploringMining #Podcast 253 – News from (TSXV: $DEFN.V) (OTCQB: $DFMTF) (TSXV: $BNCH.V) (TSXV: $SPA.V) (TSXV: $CVV.V)

                                           

Vancouver, Kelowna, Delta, BC, March 8, 2022 Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE  companies plus interviews with CEO's and leading experts.

 

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Defense Metals Corp. (TSXV:DEFN) (OTCQB:DFMTF) has announced results for an additional six diamond drill holes totalling 845 metres from the Company's 29 hole, 5,349 metre diamond drill program completed during fall 2021. Highlights include a return of 3.23 percent total rare earth oxide (TREO) over 162 metres from drill hole WI21-40. Luisa Moreno, President, and Director of Defense Metals, said:

 

"Drilling at depth within the northern Wicheeda Deposit has intersected significant new zones of high-grade REE mineralization with the potential to expand the mineral resource, and importantly may also contribute to supporting higher grades across the range of potential mine life."

 

Benchmark Metals Inc. (TSXV:BNCH) has provided an update for ongoing technical and engineering work to support the Preliminary Economic Assessment (PEA) and the Feasibility Study for its 100 percent-owned Lawyer's Gold-Silver project in British Columbia, Canada. Ian Harris, the company’s Vice President of Engineering, explained:

 

"In the coming months the Company will deliver a Mineral Resource Estimate with drilling focused on significant infill drilling, resource expansion and adding near surface gold-silver ounces. In parallel Benchmark has advanced multiple engineering and environmental studies and trade-offs guiding drilling with a mine building mindset. We believe this will drive significant value to the Preliminary Economic Assessment, to be completed in short order once resources are updated. During 2022, Benchmark will rapidly advance to a mining decision with a $30 million budget for environmental assessment readiness, feasibility level design, and drilling."

 

Spanish Gold Mountain Ltd. (TSXV:SPA) has submitted the Initial Project Description (IPD) and Early Engagement Plan for the Spanish Mountain Gold Project in British Columbia, Canada, to the B.C. Environmental Assessment Office and Impact Assessment Agency of Canada. The company’s CEO, Larry Yau, commented:

 

"We are excited about the submission of the IPD, which marks the official commencement of our EA process following the extensive preparations we have put into our project over the years. We are hopeful that this substantive groundwork will help us avoid many potential pitfalls in the lengthy and intricate process and allow us to achieve the remaining EA milestones we have targeted for 2022 and beyond."

 

CanAlaska Uranium Ltd. (TSXV:CVV) has announced the start of a planned 3,000 metre drill program on the high-grade Manibridge nickel project in the Thompson Nickel Belt of Manitoba, Canada. According to the press release, the drilling “will focus near the past-producing Manibridge Nickel Mine that produced 1.3 million tonnes at an average grade of 2.55% nickel and 0.27% copper from 1971 to 1977.” Cory Belyk, the CEO of the company, said:

 

"With the price of nickel taking off and nickel inventories at an historic low, now is the time to advance high-grade sulphide nickel projects such as Manibridge to the next level of exploration and investment. We are excited to be part of the inaugural drilling program under this new option agreement with Metal Energy. With CanAlaska's extensive Thompson Nickel Belt holdings, our shareholders are well positioned to take advantage of the increasing nickel market fundamentals."

 

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#Metals/ #GreenEnergy #Stock Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Continues to Drill High Grade at Wicheeda; @DefenseMetals

#Metals/ #GreenEnergy #Stock Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Continues to Drill High Grade at Wicheeda; @DefenseMetals

 

3.23% Total #RareEarth Oxide Over 162 Metres; Including 4.21% Over 45 Metres From Surface

 

Confirms Significant Mineralization At Depth With Potential to Expand Mineral Resource

 

Vancouver, British Columbia –March 8, 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 results for an additional six diamond drill holes totalling 845 metres from the Company’s 29 hole, 5,349 metre diamond drill program completed during fall 2021. Drill holes WI21-39 and WI21-40 collared from the same pad, and holes WI21-41 through WI21-44 sited 100 metres north were designed to further delineate the Wicheeda Rare Earth Element (REE) deposit.

 

Read this news, featuring DEFN in full at https://www.investorideas.com/news/2022/mining/03081DEFN-Wicheeda.asp

 

Drill hole WI21-40 returned 3.23% TREO (total rare earth oxide) over 162 metres[1].  Along with previously reported drill hole WI21-33 on section grading 3.17% TREO over 196 metres, these two holes yielded the highest-grade x width of the 2021 drill program to date. In addition to significant composite mineralized widths, these holes continue to demonstrate the presence of higher-grade zones of carbonatite at surface and at depth extending below the current resource pit shell.

 

The Company continues to receive additional assay results from the 2021 Wicheeda REE Deposit resource expansion and delineation campaign that will be released in the coming days and weeks.

 

Luisa Moreno, President, and Director of Defense Metals commented: “Drilling at depth within the northern Wicheeda Deposit has intersected significant new zones of high-grade REE mineralization with the potential to expand the mineral resource, and importantly may also contribute to supporting higher grades across the range of potential mine life.”

Resource infill drill hole WI21-39 (-60^o dip / 285^o azimuth) returned assays of 2.62% TREO over 110 metres¹ and in conjunction with WI21-36 and WI21-37 completes sectional drilling within the northern quarter of the Wicheeda Deposit confirming the presence of high-grade dolomite carbonatite within 2019 near surface drill holes to a vertical depth of 175 metres and horizontal width of 160 metres (Table 1 and Figure 1).

 

Delineation drill hole WI21-40 (-60^o dip / 285^o azimuth) intersected mineralized dolomite carbonate from surface grading 3.23% TREO over 162 metres¹; including higher grade intervals from surface of 4.21% TREO over 44.75 metres¹, and at depth of 3.67% TREO over 71 metres¹ extending 15 metres below the current resource pit shell (Figure 2). Importantly drill holes WI21-33, WI21-36, and WI21-40 establish the presence of a previously unrecognized zone of high-grade dolomite carbonate at depth within the northeast quadrant of the Wicheeda Deposit. Mineralized zones within WI21-40W and WI21-33 extend downhole 60 and 80 metres respectively below the current resource, and 15 and 32 metres below the resource pit shell providing the potential to expand mineral resources.

 

Drill hole WI21-44 (-60^o dip / 240^o azimuth) collared 100 metres to the north intersected a mixed interval of dolomite carbonatite near surface and REE mineralized syenite at depth high averaging 1.72% TREO over 108 metres; including 2.59% TREO over 54 metres near surface (Figure 3).

 

Table 1. Wicheeda REE Deposit 2021 Diamond Drill Intercepts

 

[2]TREO % sum of CeO₂, La₂O₃, Nd₂O₃, Pr₆O₁₁, Sm₂O₃, Eu₂O₃, Gd₂O₃, Tb₄O₇, Dy₂O₃ and Ho₂O₃.

 

A series of short drill holes WI21-41 (-55^o dip / 025^o azimuth), WI21-42 (-70^o dip / 025^o azimuth), and WI21-43 (-85^o dip / 045^o azimuth) totalling 285 metres successfully delineated the northeast margin of the deposit. Drill hole WI21-43 intersected several carbonate dykes, syenite and limestone host rocks above resource cut-off averaging 0.55% TREO over 113 metres (Figure 3).      

 

Figure 1. Drill Section Holes WI21-36, WI21-37, and WI21-39

Figure 2. Drill Section Holes WI21-33, WI21-36, and WI21-40

 

Figure 3. Drill Section Holes WI21-43 and WI21-44

 

About the Wicheeda REE Property

 

The 100% owned 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% IRR[2]. 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.

 

Methodology and QA/QC

 

The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at Langley (sample preparation) and Vancouver (ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.

 

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. (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. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.  

 

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration and development 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. 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 advancing the Wicheeda REE Project, drill results including anticipated timeline of such results/assays, the Company’s plans for its Wicheeda REE Project, expanded resource and scale of expanded resource, expected results and outcomes, 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] The true width of REE mineralization is estimated to be 70-100% of the drilled interval.

[2] 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).