Nov. 16, 2022
Defense Metals (TSX-V: DEFN)(OTC: DFMTF) — currently trading around C$0.23 per share — continues to release positive assays from its recently completed drill program at the flagship, 100%-owned Wicheeda Rare Earth Element (REE) project located approximately 80 km northeast of the city of Prince George, British Columbia, Canada*.
Infill drill hole WI22-69 — drilled southwest within the northern area of the deposit — intersected a broad zone of mineralization averaging 2.14% total rare earth oxide (TREO) over 221 meters, including a higher-grade interval averaging 3.52% TREO over 111 meters*.
Defense Metals president Luisa Morena commented via press release:
“With these additional assay results our 2022 drilling continues to yield significant intervals of the high-grade REE dolomite carbonatite (DC) lithology. Recent flotation variability testwork has shown this type of mineralization consistently delivers high grade mineral concentrates greater than 40% TREO, at recoveries in excess of 80% (see Defense Metals news release dated October 17, 2022). All the drill holes released to date have included significant REE mineralized DC intervals. As such Defense Metals is confident the 2022 drilling results will contribute positively to the planned Preliminary Feasibility Study (PFS).”
A total of 5,500 meters of diamond drilling was completed in 18 holes over the course of the year. The program included completion of five pit slope geotechnical and hydrogeologic holes totalling 1,150 meters, which were designed in part to support a Preliminary Feasibility Study (PFS) expected to commence later this quarter.
The company expects assays for the remaining 11 holes to be available in the coming weeks and months.
You can view detailed drill intercept tables in the company’s press releases, which are also posted at the DEFN corporate website.
*See the Company’s news release dated November 15, 2022 and filed on www.sedar.com
Editor, Resource Stock Digest