Mike Fagan,
Editor
Aug. 12, 2021
Defense Metals (TSX-V: DEFN)(OTC: DFMTF) — currently trading around C$0.24 per share — has entered into an MOU with Sinosteel MECC, a leading global metallurgical firm, on ore processing testwork and the potential establishment of an onsite, large-scale pilot plant at Defense’s flagship Wicheeda Rare Earth Element (REE) project in British Columbia, Canada.
Defense is preparing to ship a 200 kg ore sample to Sinosteel — which has completed more than 400 major metallurgical projects for the Chinese government and built many of the largest international projects ever undertaken by People's Republic of China — for hydro-met and flotation beneficiation in preparation for a pre-feasibility study on the Wicheeda project.
Additionally, a large-scale pilot plant program is being proposed for the purpose of producing bulk samples of rare earth concentrate, mixed rare earth carbonate, and high-purity rare earth oxides.
Defense Metals CEO, Craig Taylor — whom you’re about to hear directly from — commented via press release:
"Defense Metals is pleased to announce a landmark MOU with Sinosteel MECC, a major player in the global mining industry and looks forward to updating shareholders with further information as project development talks continue between the two companies."
There are a number of catalysts on the near-term horizon for Defense Metals as we move toward 2022.
In addition to the MOU with Sinosteel and the future potential developments there, the company is gearing up for a 5,000 meter resource expansion drill program at Wicheeda, which currently boasts a 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. The company is on-track to complete a PEA on the project in Q4 to be followed by pre-feasibility in 2022.
There’s much, much more… and it’s all covered by our own Gerardo Del Real of Junior Resource Monthly in his exclusive chat with Defense Metals CEO, Craig Taylor. CLICK HERE TO LISTEN. Transcript is also available.
Enjoy! Be sure to also click here for our feature 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.