Defense Metals Completes Drilling and Extends Mineralized Zones at Wicheeda Rare Earth Element Deposit
Defense Metals Completes Drilling and
Extends Mineralized Zones at Wicheeda Rare
Earth Element Deposit
VANCOUVER
,
Sept. 23, 2019
/CNW/ - Defense Metals Corp. ("
Defense
Metals
" or the
"
Company
") (
DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE
) is pleased to announce completion of
the 2019 resource definition diamond drill program at its 1,708 hectare (4,220 acre) Wicheeda Rare
Earth Element (REE) Project located near
Prince George, Canada
.
Subsequent to announcing commencement of the 2019 Wicheeda drill program (
see the Defense
Metals'
August 12, 2019
New Release
) the Company completed 13 diamond drill holes totalling
2,005 metres. The diamond drill, camp and exploration crew have now demobilized from the field,
and APEX Geoscience Ltd. geologists have transported the remaining drill core to
Prince George
to
complete the balance of logging and sampling. The Company will provide additional updates as work
progresses.
The 13 diamond drill holes were completed from three separate drill pads, designed to test the
northern, southern and western extent of the Wicheeda deposit where it is still open, and to further
delineate the relatively higher-grade near surface dolomite carbonatite unit.
All 13 drill holes intersected significant intercepts of visibly REE element mineralized dolomite-
carbonatite rocks. The key takeaways from the highly successful 2019 Wicheeda REE Carbonatite
Deposit diamond drill program were:
Diamond drilling at the northern margin of the 2019 Wicheeda Deposit Resource area was
successful in delineating and expanding the northern margin of the deposit a distance of 100
metres, which represents an approximately 40% increase in the drill defined north-south strike
extent of the Wicheeda Deposit (Figure 1).
Significantly, the final hole of the 2019 program (WI19-32) intersected a 130 metre core length
interval of visibly REE mineralized dolomite-carbonatite leaving the deposit still open for
expansion to the north. The true width of the interval is interpreted to be approximately 80% of
the drilled intercept.
Infill drilling in the east central area of the deposit resulted in expansion of the edge of the
deposit 45 metres beyond the limit of the 2019 Resource Model (WI19-29).
Delineation drilling in the southwest area of the deposit extended the limit of dolomite-
carbonatite rocks a further 25 metres beyond the 2019 Resource Model (WI19-20 and WI19-
21).
Resource definition drilling successfully increased confidence in the geometry of REE
mineralized dolomite-carbonate rocks at higher elevation with the deposit, in addition to
providing multiple pierce points from which to further refine the Wicheeda carbonatite envelope.
Defense Metals looks forward to receipt of assay results, and incorporating these new diamond drill
results into an updated and potentially expanded mineral resource estimate for the Wicheeda
Deposit.
Craig Taylor
, CEO and President of Defense Metals Corp., commented,
"
We have intersected
REE mineralization within every drill hole of the 2019 drill program. Our 2019 resource definition
drilling
has exceeded our expectations in significantly expanding the drilled extent of REE
mineralized dolomite-carbonatite, and meeting our primary goal of increasing drill hole density
within the higher REE grade upper portions of the Wicheeda Mineral Resource
"
Figure 1: Wicheeda Deposit 2019 Diamond Drill Plan (CNW Group/Defense Metals Corp.)
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda
Rare Earth Element Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC)
Principal and Consultant of APEX Geoscience Ltd. of
Edmonton, AB
, a director of Defense Metals
and a "Qualified Person" as defined in National Instrument 43-101 –
Standards of Disclosure for
Mineral Projects
.
About Defense Metals Corp.
Defense Metals is a mineral 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, high strength, light weight, rare
earth magnets. Defense Metals' primary focus is to exercise its option to acquire 100% of the 1,780
hectare Wicheeda Rare Earth Element Project. Defense Metals Corp. trades in
Canada
under
"DEFN" on the TSX Venture Exchange,
the United States
, under "DFMTF" on the OTCQB and the
German, Frankfurt Exchange under the symbol of "35D".
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.
Forward Looking Information
This news release includes certain statements that constitute "forward-looking information" within the
meaning of applicable securities law, including without limitation, Defense Metals' plans for its
properties/projects, assays, drill results, expanded resource, other statements relating to the
technical, financial and business prospects of Defense Metals, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a
number of estimates and assumptions. These statements relate to analyses and other information
that are based on forecasts of future results, estimates of amounts not yet determinable and
assumptions of management. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as "expects" or "does not expect",
"is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that
certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur
or be achieved), and variations of such words, and similar expressions are not statements of
historical fact and may be forward-looking statements. Forward-looking statement are necessarily
based upon a number of factors that, if untrue, could cause the actual results, performances or
achievements of Defense Metals to be materially different from future results, performances or
achievements express or implied by such statements. Such statements and information are based
on numerous assumptions regarding present and future business strategies and the environment in
which Defense Metals will operate in the future, including the price of metals and elements,
anticipated costs and the ability to achieve 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, and that third party contractors, equipment and supplies and governmental and
other approvals required to conduct Defense Metals' planned exploration activities will be available
on reasonable terms and in a timely manner. While such estimates and assumptions are considered
reasonable by the management of Defense Metals, they are inherently subject to significant
business, economic, competitive and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause
actual events, level of activity, performance or results to differ materially from those reflected in the
forward-looking statements, including, without limitation: (i) risks related to rare earth elements, and
other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of
exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and
the potential for unexpected costs and expenses; (iv) that resource exploration and development is a
speculative business; (v) that Defense Metals may lose or abandon its property interests or may fail
to receive necessary licences and permits; (vi) that environmental laws and regulations may become
more onerous; (vii) that Defense Metals may not be able to raise additional funds when necessary;
(viii) the possibility that future exploration, development or mining results will not be consistent with
Defense Metals' expectations; (ix) exploration and development risks, including risks related to
accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or
interruptions in exploration and development; * competition; (xi) the potential for delays in exploration
or development activities or the completion of geologic reports or studies; (xii) the uncertainty of
profitability based upon Defense Metals' history of losses; (xiii) risks related to environmental
regulation and liability; (xiv) risks associated with failure to maintain community acceptance,
agreements and permissions (generally referred to as "social licence"), including local First Nations;
(xv) risks relating to obtaining and maintaining all necessary government permits, approvals and
authorizations relating to the continued exploration and development of Defense Metals' projects;
(xvi) risks related to the outcome of legal actions; (xvii) political and regulatory risks associated with
mining and exploration; (xix) risks related to current global financial conditions; and (xx) other risks
and uncertainties related to Defense Metals' prospects, properties and business strategy. These
risks, as well as others, could cause actual results and events to vary significantly.
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, the loss of key directors, employees, advisors or consultants,
adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties
to perform their contractual obligations and fees charged by service providers. Investors are
cautioned that forward-looking statements are not guarantees of future performance or events and,
accordingly are cautioned not to put undue reliance on forward-looking statements due to the
inherent uncertainty of such statements. The forward-looking statements included in this news
release are made as of the date hereof and Defense Metals disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by applicable securities legislation.
SOURCE
Defense Metals Corp.
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For further information:
please visit https://defensemetals.com/ or contact: Todd Hanas, Bluesky
Corporate Communications Ltd., Vice President, Investor Relations, Tel: (778) 994 8072, Email:
CO: Defense Metals Corp.
CNW 06:00e 23-SEP-19