Defense Metals Commences Phase 2 Infrastructure Sonic, Open Pit Geotechnical, and Exploration Target Core Drilling at Wicheeda Rare Earth Element Project
Defense Metals Commences Phase 2 Infrastructure Sonic, Open Pit
Geotechnical, and Exploration Target Core Drilling at Wicheeda Rare Earth
Element Project
VANCOUVER, BC
,
Oct. 3, 2023
/CNW/ - Defense Metals Corp. ("
Defense Metals
" or the "
Company
"; (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased
to announce it has commenced Phase 2 of its planned infrastructure and open pit geotechnical drilling. Sonic overburden characterization (site infrastructure
geotechnical) and diamond core drilling (open pit geotechnical and near resource exploration) is expected to be complete within 4 to 6 weeks, with results to
follow. The work, with the support of the Defense Metals' technical team and APEX Geoscience Ltd., is being completed by SRK Consulting (
Canada
) Inc.
("
SRK
") one of the principal consultants for the preliminary feasibility study ("
PFS
") regarding the Company's Wicheeda Rare Earth Element (REE) Project located
near
Prince George, Canada
.
Craig Taylor
, CEO of Defense Metals, commented:
"We are pleased to commence Phase 2 geotechnical investigations. This work will provide critical inputs for the ongoing PFS study, and in the case of
exploration targets have the potential to expand resources. The Company's technical teams and principal Engineering contractors continue to push forward
keeping us on track for a planned PFS completion by the end of Q2 2024."
As previously reported (
see Defense Metals news release dated
August 16, 2023
) the SRK geotechnical investigation includes the following scopes:
Geotechnical engineering
(waste rock, tailings, contact water pond, and site infrastructure geotechnical investigation),
Tailings alternative assessment
prior to advancing into PFS-level design of a preferred alternative, and
Geochemical characterization
(to support mine planning/waste management and to develop preliminary water chemistry predictions for the main mine
facilities).
Currently two rigs, sonic and core drills, are operating at the Project, with sonic operations focused on overburden and bedrock characterization within the
potential waste rock storage (WSF) footprint (see
Image 1
), and geotechnical core drilling underway with the east highwall of the proposed open pit (
see Image
2
).
With WSF drilling nearing completion, sonic operations are expected to transition to the proposed contact water pond (CWP), and crusher and conveyor
footprints, followed by tailing storage facility (TSF) and TSF alternative geotechnical investigations.
In pit geotechnical core drilling will progress from current drilling on the east highwall, followed by south, north, and west pit walls. Drilling into the south pit wall is
expected to collar in REE mineralized dolomite carbonatite. In addition, geotechnical core drilling of the west pit wall is co-purposed with testing of a high priority
ground radiometric geophysical anomaly with the potential to represent undiscovered carbonatite body (
see Defense Metals' news release dated
September 5,
2023
).
Image 1: Sonic Infrastructure Geotechnical Drilling Underway Within WSF Area (CNW Group/Defense Metals Corp.)
Image 2: Geotechnical Drill Core from Hole WI23-80 Wicheeda REE Deposit Open Pit Highwall (CNW Group/Defense Metals Corp.)
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher
J. Raffle, P.Geo. (B.C.), Principal and Consultant of APEX Geoscience Ltd. of
Edmonton, Alberta
, who is a director of Defense Metals and a "Qualified Person"
as defined in NI 43-101.
About the Wicheeda REE Property
Defense Metals 100% owned, 6,759-hectare (~16,702-acre) Wicheeda Project is located approximately 80 km northeast of the city of
Prince George, British
Columbia
; population 77,000. The Wicheeda REE Project is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power
transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at
Prince Rupert
, the
closest major North American port to
Asia
.
About
Defense Metals Corp.
Defense Metals Corp. is a mineral exploration and development company focused on the development of its 100% owned Wicheeda Rare Earth Element Deposit
located near
Prince George, British Columbia
, Canada. Defense Metals Corp. trades on the TSX Venture Exchange under the symbol "DEFN", in
the United
States
, trading symbol "DFMTF" on the OTCQB and in
Germany
on the Frankfurt Exchange under "35D".
Defense Metals is a proud member of Discovery Group. For more information please visit:
http://www.discoverygroup.ca/
For further information, please visit
www.defensemetals.com
or contact:
Todd Hanas
, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Email:
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 news release.
Cautionary Statement Regarding "Forward-Looking" Information
This news release contains "forward
looking information or statements" within the meaning of applicable securities laws, which may include, without limitation,
statements relating to advancing the Wicheeda REE Project, the expected completion of the PFS and the expected timeline, the completion and expected
timelines for sonic and geotechnical drilling and the expected results and outcomes (including the potential for undiscovered carbonatite), the technical, financial
and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address
events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future
business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the anticipated costs and
expenditures, accuracy of assay results, performance of available laboratory and other related services, future operating costs, interpretation of geological and
metallurgical data, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will
be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is
subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks
related to the inherent uncertainty of exploration, metallurgy and development and cost estimates, the potential for unexpected costs and expenses and those
other risks filed under the Company's profile on SEDAR at
www.sedarplus.ca
. While such estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could
cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and
general economic, market or business conditions, adverse weather and climate conditions, failure to maintain or obtain all necessary government permits,
approvals and authorizations, failure to maintain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including
failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and
equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to
health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, decrease in the price of rare earth
elements, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate, an inability to predict and counteract the effects of COVID-19
and other viruses and diseases on the business of the Company, the price of commodities, capital market conditions, restriction on labour and international travel
and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their
contractual obligations. The Company does not undertake to update forward
looking statements or forward
looking information, except as required by law.
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CNW 07:00e 03-OCT-23