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Breaking Metals and Green Energy Stock News for Defense Metals (TSX-V: $ DEFN.V) (OTCQB: $ DFMTF) @DefenseMetals

By on September 29, 2021 0

Defense Metals Corp. (TSX-V: DEFN / OTCQB: DFMTF / 35D: FSE)

Provides an updated economic scenario analysis of the Wicheeda Rare Earth Element project

Defense Metals Corp (TSX: TSXV: DEFN)

VANCOUVER, BC, CANADA, September 29, 2021 / – Newswire, and -Mining /Metals/ Green energy Stock News – Defense Metals Corp. (TSX-V: DEFN / OTCQB: DFMTF / 35D: FSE) is pleased to provide a progress update on its economic scenario analysis of the Wicheeda Rare Earth Element (REE) project conducted by SRK Consulting (Canada) Inc. ( “SRK”).

Defense Metals is currently advancing the road-accessible Wicheeda Critical Rare Earth Element (REE) property, which is located near infrastructure approximately 80 kilometers northeast of Prince George, British Columbia (BC). . The Wicheeda project reported mineral resources of 4,890,000 tonnes with an average of 3.02% LREO (Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes with an average of 2.90% of LREO.

As previously stated (see Defense Metals press release dated March 30, 2021), the objective of the scenario analysis is to assess the potential of several mining development scenarios through the conduct of economic tradeoff studies. which will establish the basis for a preliminary economic assessment (“PEA”).
Site visits for SRK Resource and Mining Qualified Persons (QP) have been scheduled for the 1st and 4th weeks of October 2021 to coincide with ongoing coring operations. SRK has now completed several key elements that will inform the scenario analysis, including:
• Detailed data review (carried out in sufficient detail to ensure the absence of fatal defects);
• Definition of the scenario (complete);
• Evaluation of ore processing, hydrometallurgy and separation costs (full);
• Optimization of the pit (complete); and
• Mining order (in preparation).

The mine costing and economic modeling phases are subject to the completion of mine planning currently underway. Subject to a successful scenario analysis, the PEA work will build on the scenario analysis, with the addition of a more in-depth review of the geology and resources; metallurgy of Capex / Opex processes; infrastructure development; wastewater management; social, environmental and licensing aspects; marketing; economic analysis; and reports.
Craig Taylor, CEO of Defense Metals, said: “We are extremely satisfied with the progress of the defined stages of the scenario analysis. Subject to the positive results of the completed scenario analysis, our goal is to be able to present our PEA to the market by mid-November of this year. ”

About the Wicheeda REE property
The 1,708 hectare Wicheeda REE property, located approximately 80 km northeast of the city of Prince George, British Columbia, is easily accessible by all-weather gravel roads and is close to infrastructure, including power lines, CN railroad and major highways.

Geologically, the property is located in the Foreland Belt and the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several intrusive carbonatite and alkaline complexes hosting the Aley (niobium) deposits, Rock Canyon (REE) and Wicheeda (REE). .

Qualified person

The scientific and technical information contained in this press release with respect to the Wicheeda REE property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Director and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “qualified person” within the meaning of National Instrument 43-101 – Disclosure Standards for Mining Projects. Mr. Raffle has verified the disclosed data, which includes a review of the analytical data and tests underlying the information and opinions therein.

About Defense Metals Corp.

Defense Metals Corp. is a mining exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of “GREEN” energy technologies, such as than high strength alloys and rare metals. earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda rare earth element property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States under “DFMTF” on the OTCQB and in Germany on the Frankfurt Stock Exchange under “35D”.

For more information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd.
Vice-President, Investor Relations
Phone. : (778) 994 8072
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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