Mike Fagan,
Editor
July 19, 2021
Defense Metals (TSX-V: DEFN)(OTC: DFMTF) — currently trading around C$0.23 per share — is commencing drill pad construction in advancement of its planned 2,000 to 5,000 meter summer drill program at its flagship Wicheeda Rare Earth Element (REE) project, British Columbia, Canada.
The current program will focus on expanding the known deposit — 4.9 million tonnes Indicated at 3.02% LREO plus 12.1 million tonnes Inferred at 2.90% LREO (Light Rare Earth Elements) — while further delineating existing resources within the central and northwestern areas of the deposit.
Defense Metals CEO, Craig Taylor, commented via press release:
"We have seen that the mining and mineral exploration season is again extremely busy in BC this year. Exploration contractors and technical personnel are all in high demand. The announcement that we will be commencing drill site preparations in the coming weeks is a key milestone that places us on the path to completing our goals of expanding and increasing the confidence in the existing Wicheeda REE Deposit mineral resource in support of potential future advanced economic studies."
The Wicheeda project hosts neodymium and praseodymium (NdPr), which are critical elements in the production of lightweight, ultra-high-strength magnets for use in EVs, missiles, military jets, satellites, and numerous clean energy technologies.
With China controlling around 80% of global rare earths production, the Wicheeda project holds elevated importance as a potential future source of REEs in a mining-friendly jurisdiction.
The Defense Metals team has made solid strides the last few years in derisking the Wicheeda project, and the commencement of summer drilling activities should certainly continue to add to that.
The company has already proven its ability to hone in on the high-grade mineralization including a highlight intercept of 4.43% LREO over 83 meters. For speculators, the excitement is brewing as the Defense Metals field team seeks to replicate and even improve upon previous results.
Defense Metals — at a current market cap of ~C$20 million — offers speculators exposure to the junior rare earths sector by way of a well-run and well-structured company with an exciting Canadian-based REE project with active drilling.
Stand closely by as we’ll be bringing you results from this year’s drill program as assays are released.
Also click here for our most recent report on Defense Metals.
Yours in profits,
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.