Defense Metals Receives Wicheeda REE Property LiDaR Survey Results
Defense Metals Receives Wicheeda REE Property LiDaR
Survey Results
VANCOUVER, BC
,
Feb. 1, 2021
/CNW/ - Defense Metals Corp. ("
Defense Metals
") (TSX-V: DEFN) (OTCQB: DFMTF) (FSE:
35D) is pleased to announce that it has received final property-wide high-resolution airborne LiDaR (Light Detection and
Ranging) survey results for its 1,708 hectare (4,220 acre) Wicheeda Rare Earth Element (REE) Property ("
Wicheeda
") near
Prince George, British Columbia
(BC).
The Wicheeda project has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Earth
Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO
1
. Flotation pilot-plant processing of a
26-tonne bulk sample of Wicheeda REE material yielded a
mineral
concentrate averaging 7.4% NdPr oxide
(neodymium-
praseodymium) critical magnet metals
2
.
Defense Metals retained
Eagle Mapping Ltd.
of
Port Coquitlam, BC
to collect LiDAR and color aerial photography over the
Wicheeda REE Project (
see Defense Metals news release dated
November 18, 2020
). Property-wide LiDAR survey data was
acquired at a minimum density of 8 points-per-square-metre, in addition to high-resolution 13 cm pixel color aerial photography
(
Figure 1
).
Craig Taylor
, CEO of Defense Metals, stated: "
Defense Metals is extremely pleased with the Wicheeda REE Property LiDaR
survey results. This incredibly high-resolution dataset arms us with an enhanced property-wide terrain model. This level of
precision is expected to positively impact project development efforts with respect to numerous ongoing studies including
environmental baseline monitoring, geological modelling, and resource estimation; and looking forward to optimizing the
siting of critical development infrastructure."
Figure 1. Wicheeda REE Deposit LiDaR Bare Earth Terrain Model Showing Diamond Drilling and Resource Block Model and Pit
Shell (CNW Group/Defense Metals Corp.)
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 readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines,
the CN railway and major highways.
Geologically, the property is situated in the Foreland Belt and within 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 carbonatite and alkaline intrusive complexes hosting the Aley (niobium),
Rock Canyon (REE), and Wicheeda (REE) deposits.
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 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 Corp. 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 alloys and rare 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 Exchange under "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.
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 the completion of ongoing studies, plans for its Wicheeda Property, the
advancement and development of the Wicheeda Property, 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 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 those filed under the Company's profile
on SEDAR at
www.sedar.com
. 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
conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain
community acceptance (including First Nations), 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 increase in costs, 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.
1
Technical Report on the Wicheeda Property, British Columbia, effective June 27, 2020 and prepared by APEX Geoscience Ltd. (Steven J. Nicholls, B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo) is available under Defense
Metals Corp.'s profile on SEDAR (www.sedar.com)
2
See Defense Metals News Release date September 23, 2020
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For further information:
Todd Hanas, Bluesky Corporate Communications Ltd., Vice President, Investor Relations, Tel: (778)
994 8072, Email: [email protected]
CO: Defense Metals Corp.
CNW 08:30e 01-FEB-21