Defense Metals Drills 4.21% Light Rare Earth Oxide Over 48 Metres and Extends Mineralized Zone at Wicheeda Rare Earth Element Deposit
Defense Metals Drills 4.21% Light Rare Earth
Oxide Over 48 Metres and Extends Mineralized
Zone at Wicheeda Rare Earth Element Deposit
VANCOUVER
,
Nov. 20, 2019
/CNW/ - Defense Metals Corp. ("Defense Metals") (
DEFN: TSX-V /
DFMTF: OTCQB / 35D: FSE
) announces assay results for an additional three holes from the
recently completed 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
.
Drill hole
WI19-25 (-45
o
dip / 185
o
azimuth),
drilled to define the southern margin of the Wicheeda
REE Deposit returned two higher grade intervals; an upper zone that assayed
3.87% Light Rare
Earth Oxide
(LREO; being cerium, lanthanum, neodymium, praseodymium, and samarium oxides
(Ce
2
O
3
+La
2
O
3
+Nd
2
O
3
+ Pr
2
O
3
+Sm
2
O
3
)
over a drill core interval of 24 metres,
and a lower
interval assaying
3.93% LREO over a drill core interval of 23 metres
1
(Table 1). Both intervals
occur within a broader REE mineralized interval that assayed
2.22% LREO over a drill core
interval of 142 metres
from surface. The transition from higher grade dolomite-carbonatite
corresponded with the edge of the southern limit of the 2019 Mineral Resource Estimate
2
;
however
REE mineralized fenite rocks continued to a depth of 142.3 metres thereby extending REE
mineralization a distance of approximately 40 metres south of the 2019 Mineral Resource Estimate
limit.
Drill hole
WI19-26 (-65
o
dip / 295
o
azimuth),
collared from the same drill pad returned a single
longer higher grade intercept assaying
4
.21% LREO over a drill core interval of 48 metres
1
within
a broader zone of mineralization assaying
2.82% LREO over a core interval of 126 metres
1
.
Significantly WI19-26 was designed to drill west starting from a higher elevation above and ultimately
terminating well below historical vertical drill hole WI09-05 which was lost in difficult ground
conditions at a depth of 56 metres.
Drill hole
WI19-27 (-45
o
dip / 010
o
azimuth)
, collared from the same pad and drilled northeast to
provide a high elevation pierce point of the margin of the Wicheeda Deposit returned an average
grade of
2.54
LREO over a drill core interval of 118 metres
1
, corresponding almost exactly with
the predicted margin based on the 2019 Mineral Resource Estimate. The hole collared into dolomite
carbonatite which continued to a downhole depth of 120 metres.
Table 1: Wicheeda REE Deposit 2019 Diamond Drill Intercepts
Hole ID
Released
From
(m)
To
(m)
Interval
(m)
LREO
(%)
Ce
2
O
3
(%)
La
2
O
3
(%)
Nd
2
O
3
(%)
Pr
2
O
3
(%)
Sm
2
O
3
(%)
WI19-20
Oct. 31, 2019 News
Release
4.6
68.8
64.2
4.32
2.10
1.54
0.46
0.18
0.04
WI19-21
3.9
114
110.1
3.26
1.57
1.16
0.36
0.14
0.04
WI19-22
Nov. 14, 2019 News
Release
7
113
106
2.71
1.31
0.98
0.28
0.11
0.03
WI19-23
4
109
105
3.12
1.49
1.14
0.34
0.13
0.03
WI19-24
2.9
83
80.1
2.43
1.18
0.83
0.29
0.10
0.03
WI19-25
Current News
Release
1.1
143.4
142.3
2.22
1.08
0.78
0.24
0.09
0.03
including
1.1
25
23.9
3.87
1.89
1.42
0.39
0.14
0.04
and
60
83
23.0
3.93
1.90
1.42
0.43
0.15
0.04
WI19-26
1.8
128
126.2
2.82
1.34
1.07
0.29
0.10
0.03
including
32
80
48.0
4.21
1.99
1.61
0.42
0.15
0.04
WI19-27
2
120.3
118.3
2.54
1.22
0.92
0.27
0.10
0.03
Craig Taylor
, CEO and President of Defense Metals Corp., commented,
"
We are extremely pleased
with the results from these three additional drill holes. The 2019 Wicheeda REE Deposit diamond
drill hole assay results continue to yield higher-grade zones of mineralization as seen in drill holes
WI19-25 and WI19-26; in addition to expansion of the REE mineralization beyond the limits of the
2019 Miner Resource Estimate. Defence Metals continues to deliver on its stated drill program
goals of increasing our confidence in the existing resource and expansion of the Wicheeda REE
Deposit."
The 2019 drill program comprised 13 diamond drill holes, totalling 2,005 metres that were completed
from three separate drill pads that were designed to test the northern, southern and western extent
of the Wicheeda REE Deposit where it remains open, and to further delineate the relatively higher-
grade, near surface dolomite carbonatite unit.
Defense Metals looks forward to receipt of assay results for the remaining 5 drill holes within the
coming weeks and will provide additional updates as they are received.
1
The true width of REE mineralization is estimated to be 70-100% of the drilled interval.
2
The Wicheeda REE Deposit Mineral Resource comprises an Inferred Mineral Resource of 11,370,000 tonnes averaging 1.96%
LREE (Light Rare Earth Elements) reported at a cut-off grade of 1.0% LREE (sum of cerium, lanthanum, neodymium and samarium
percentages). The resource is classified according to the CIM "Estimation of Mineral Resources and Mineral Reserves Best Practice
Guidelines" dated November 23rd, 2003 and CIM "Definition Standards for Mineral Resources and Mineral Reserves" dated May 10th,
2014. Details with respect to the Mineral Resource Estimate are summarized in the Defense's NI 43-101 technical report titled "Wicheeda
Rare Earth Element Project, British Columbia, Canada" effective date of June 20, 2019 available on SEDAR at
www.sedar.com
.
Figure 1: Oblique View Wicheeda Deposit 2019 Diamond Drill (CNW Group/Defense Metals Corp.)
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at
Kamloops
(sample preparation) and
Vancouver
(ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO
9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the
QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by
pulverizing of a 250 gram split to 85% passing 75 microns. A 0.1 gram sample pulp was then subject
to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-
MS81h). Defense Metals follows industry standard procedures for the work carried out on the
Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate and
standard samples were inserted into the sample sequence sent to the laboratory for analysis.
Defense Metals detected no significant QA/QC issues during review of the data. Defense Metals is
not aware of any drilling, sampling, recovery or other factors that could materially affect the
accuracy or reliability of the data referred to herein.
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
. Mr. Raffle verified the data disclosed which includes a review of the analytical and
test data underlying the information and opinions contained therein.
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 1,708
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 or
statements" within the meaning of applicable securities law, including without limitation, Defense
Metals' plans for its properties/projects, assays, drill results, expectations for an 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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CO: Defense Metals Corp.
CNW 08:00e 20-NOV-19