Defense Metals Expands Wicheeda Rare Earths Deposit

Defense Metals (TSX-V: DEFN)(OTC: DFMTF) — currently trading around C$0.28 per share — is mobilizing a second diamond drill rig to its flagship Wicheeda Rare Earth Element (REE) project in British Columbia, Canada, to expedite its ongoing resource expansion and delineation drill program.

The current 32-hole, 5,000 meter program (see 2021 drill plan below) is being deployed with the aim of extending mineralization to the north while further delineating existing inferred resources within the central and northwestern areas of the deposit.

wicheeda rare earth element project map

As you may recall from our earlier updates, the Wicheeda project currently boasts a resource of 4.9 million tonnes Indicated at 3.02% LREO plus 12.1 million tonnes Inferred at 2.90% LREO. 

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

“We are extremely pleased to have secured a second diamond drill to expedite completion of our Wicheeda REE Deposit resource expansion and delineation program. With this additional drilling capacity, we expect to be well-positioned to deliver on our 2021 exploration goals. Based on contractor negotiations, we expect the second drill rig to be in a position to commence coring by the mid-week.”

Defense is also on track to complete a PEA on the project by the midpoint of next month to be followed by pre-feasibility in 2022.

Additionally, in light of uranium’s impressive price performance of late, the company has initiated a technical review of its substantial uranium assets in Saskatchewan’s prolific Athabasca Basin.

Those assets include the 100%-owned Geiger North and Klaproth projects in the northeast Athabasca Basin. Defense plans to use the dataset gleaned from the upcoming technical review to initiate further exploration including the commissioning of project-wide airborne electromagnetic geophysical surveys to identify prospective basement conductive anomalies.

Naturally, our own Gerardo Del Real has been reporting extensively on the uranium market in his Junior Resource Monthly newsletter, which, as you might expect, is currently producing some very solid uranium winners for the Junior Resource Monthly portfolio.

For more on the uranium bull that’s now in play for speculators, including how to position for even more near-term gains… simply follow the man himself. 

It’s a red-hot market. Yet, Gerardo cautions that the uranium sector as a whole has the predictable habit of eventually overshooting. Hence, his action plan is to get in fast and get out relatively fast as well… while securing triple-digit, and possibly even a few quadruple-digit winners along the way! 

Gerardo has a brand new uranium recommendation out to his Junior Resource Monthly subscribers — click here to watch a brief video presentation on this undiscovered uranium gem that’s poised to help lead America’s uranium production resurgence.

Also, check out our feature report on Defense Metals by clicking here. 

Yours in profits,

Mike Fagan
Editor, Resource Stock Digest