Defense Metals Engages Falcon Drilling for Drill Program at Wicheeda Rare Earth Element Project
Defense Metals Engages Falcon Drilling for
Drill Program at Wicheeda Rare Earth Element
Project
VANCOUVER
,
Aug. 1, 2019
/CNW/ - Defense Metals Corp. ("Defense Metals") (
DEFN: TSX-V /
DFMTF: OTCQB / 35D: FSE
) is pleased to announce that it has engaged Falcon Drilling Ltd. for a
planned 2,000 metre surface core drill program at its Wicheeda Rare Earth Element ("REE")
Property located 80 kilometres (50 miles) northeast of the city of
Prince George, British Columbia
.
The 2019 drilling and camp operations are fully permitted for up to 51 separate drill sites (
See the
Defense Metals
May 6, 2019
news release
).
Drill pads and a work camp are currently being prepared and drilling is expected to commence in
early August. The purpose of the 2019 Wicheeda drill program is to further delineate, and potentially
expand the Wicheeda REE carbonatite deposit leading to completion of an updated mineral resource
estimate. Core drilling will: test the northern, southern and western extent of the Wicheeda deposit
where it is still open; further delineate the relatively higher-grade near surface dolomite carbonatite
unit; and address select internal drilling gaps within the deposit. Defense Metals expects to complete
this work program in approximately six weeks.
About Falcon Drilling Ltd.
Falcon Drilling Ltd., of
Prince George, British Columbia
, provides drill equipment and highly trained
drill crews, rapid access to supplies, and mobilization services to the most remote of locations. They
have specifically designed and manufactured helicopter transportable diamond drill rigs that permit
fast efficient moves between drill sites with minimal environmental disturbance and site remediation
costs.
About
Defense Metals Corporation
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".
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda
REE Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and
Consultant of APEX Geoscience Ltd. of
Edmonton, AB
, a "Qualified Person" as defined in National
Instrument 43-101 –
Standards of Disclosure
for Mineral Projects
.
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 Metal's plans for its
properties/projects, upcoming drill program, 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", "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
the Company 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 the
Company 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 the Company's 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 the Company, 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 the Company 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 the Company 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
the Company's 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 the Company's 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 the Company's 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 the Company's 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 the Company 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 03:05e 01-AUG-19