Defense Metals Ships Mixed Rare Oxide and Carbonate Samples to Interested Parties
Defense Metals Ships Mixed Rare Oxide and Carbonate Samples to
Interested Parties
VANCOUVER, BC
,
Oct. 17, 2023
/CNW/ - Defense Metals Corp. ("
Defense Metals
" or the "
Company
") (TSXV: DEFN) (OTCQB: DFMTF)
(FSE: 35D) is pleased to announce that SGS Canada Inc. in
Lakefield, Ontario
has shipped samples of mixed rare earth oxide and mixed rare
earth carbonate to interested parties on behalf of the Company. These samples were generated during 2023 hydrometallurgical piloting test work
performed on concentrate produced by earlier flotation pilot plant testing of a 26-tonne bulk sample taken from the Company's wholly-owned
Wicheeda Rare Earth Element (REE) deposit.
The samples are being distributed to certain select major processors, refiners, and metals traders located in
Europe
,
Asia
and
North America
,
allowing the recipients to independently verify the high-quality of REE products from the Wicheeda deposit, and establishing Wicheeda as an
important, future North American source of the rare earths needed to satisfy the rapidly increasing demand. The sample specifications are varied
based on the recipients' particular requirements, and these parties could represent future offtake or strategic partners for Defense Metals and
these shipments are a critical step toward defining such potential opportunities
.
Craig Taylor
, CEO of Defense Metals, commented,
"Given that rare earth magnet production needs to double in the next decade to satisfy
the demand created by electric vehicles, a new and significant western supplier, such as Defense Metals, is essential. To put this increased
demand into perspective, it is the equivalent of bringing into production one Mountain Pass mine, currently the only North American rare earth
producer, every year for the next ten years. With the Wicheeda Project's superior logistics, together with our confidence in the metallurgical
processing characteristics of Wicheeda mineralization, Defense Metals continues to position itself as a significant contributor to the North
American green energy solution."
Defense Metals to Attend 19
th
International Rare Earths Conference
Defense Metals also announces that it will be attending in the 19
th
International Rare Earths Conference in
San Antonio
, U.S., hosted by Metal
Events, from
October 18-20, 2023
.
For additional information on the conference please visit the following link:
https://metalevents.com/events/19th-international-rare-earths-conference
About the Wicheeda Rare Earth Element Project
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 deposit is readily accessible by all-weather gravel roads and is near infrastructure,
including hydropower transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the
deep-water 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 project 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".
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 the shipment of rare earth samples, advancing the Wicheeda REE Project to production, potential
contracts and agreement, 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, 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 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 on the business of the Company, including but not limited to, the effects of COVID-19 on 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 08:00e 17-OCT-23