Canadian Junior Making Solid Progress on Rare Earth Element (REE) Project in British Columbia

by Mike Fagan

Mike Fagan


Defense Metals (TSX-V: DEFN)(OTC: DFMTF) — currently trading around C$0.40 per share — is moving forward with an economic scenario analysis for its flagship Wicheeda Rare Earth Element (REE) Project in British Columbia, Canada, as a means of evaluating multiple mine development scenarios to be used in its forthcoming PEA (Preliminary Economic Assessment).

The company has selected SRK Consulting out of Canada to conduct the economic analysis.

Already, the Wicheeda project boasts a large resource of 4.9 million tonnes Indicated at 3.02% LREO (Light Rare Earth Elements) plus 12.1 million tonnes Inferred at 2.90% LREO.

Defense Metals CEO, Craig Taylor — whom you’ll be hearing more from in just a moment — commented via press release:
 

"We are extremely pleased to have engaged a mine engineering consultant of SRK's calibre to complete our Wicheeda REE Deposit economic scenario analysis as we continue to move towards our PEA. Their considerable REE experience will be invaluable as we continue to unlock the potential of the Wicheeda REE Project."


Additionally, through its relationship with Welsbach Holdings — a global leader in technology metals project development and supply chain management — Defense is fielding requests from multiple third-party REE processors for samples of its high-grade material from Wicheeda with the ultimate aim of procuring strategic offtake sales agreements.

Mr. Talyor added:
 

"We are extremely pleased that Welsbach has successfully identified two REE processors interested in receiving representative samples of our high-grade Wicheeda REE deposit mineral concentrate. These requests represent a major step forward in our efforts to assess the market potential of long-term REE mineral concentrate offtake sale agreements."


Speculators can expect plenty of news flow from Defense Metals over the coming months as drilling resumes at Wicheeda and as the company completes its PEA on the way towards prefeasibility.

Our own Gerardo Del Real of Junior Resource Monthly sat down with CEO, Craig Taylor, for a discussion on all-things Defense Metals. You can listen to that interview here (written transcript is also available).

Be sure to also click here for our most recent report on Defense Metals.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.