Defense Metals Completes 2021 Drilling Ahead of PEA

Defense Metals Corp. (TSX-V: DEFN)(OTC: DFMTF) — currently trading around C$0.28 per share — has completed its 2021 29-hole, 5,350-meter drill program at its flagship Wicheeda Rare Earth Element (REE) project in British Columbia, Canada.

The program was deployed to expand the deposit to the north while simultaneously upgrading the existing resource within the central and northwestern areas of the deposit from the Inferred to the M&I category.

defense metals map

Currently, the Wicheeda deposit boasts an Indicated mineral resource of 4.89 million tonnes averaging 3.02% LREO (Light Rare Earth Elements) and an Inferred mineral resource of 12.1 million tonnes averaging 2.90% LREO. 

Defense Metals CEO, Craig Taylor, commented via press release:

“We are pleased to have completed our 2021 drilling campaign. Our expectation is of expanding and upgrading the current Wicheeda REE Deposit mineral resource. We believe the 2021 drilling results, once released, will firmly place the Wicheeda REE Deposit among the most significant rare earth deposits in North America.”

Core from the recently-completed program is currently at the lab awaiting assaying. Results are expected to be released in Q1 2022.

Defense is also on-track to complete a PEA on the project before month’s end to be followed by prefeasibility in 2022.

Additionally, Dr. Luisa Moreno — a Physics Engineer with a PhD in Materials Science and Mechanics from London’s Imperial College — has joined the Defense Metals board.

Dr. Moreno commented:

“Having followed rare earths projects around the world for several years, I believe the Wicheeda project is one of the most prospective rare earths projects in Canada and globally. Therefore, I am delighted to be part of the Defense Metals team and I look forward to working with the board to make Wicheeda an integral REE source for the global supply chain.”

Check out additional news, exclusive interviews, and much more on our page dedicated to Defense Metals.

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