Defense Metals to attend PDAC Convention, Toronto, March 3-4th 2020
Defense Metals to attend PDAC Convention,
Toronto, March 3-4th 2020
VANCOUVER
,
Feb. 21, 2020
/CNW/ - Defense Metals Corp. ("
Defense Metals
" or the "
Company
")
(TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce that it will be attending this
year's Prospector's and Developer's Annual Convention (PDAC) in
Toronto, Ontario, Canada
with
Barrian Mining Ltd. (BARI:TSX-V)
in the Investors Exchange and Defense's solo invite to the
Coreshack from
March 3-4, 2020
.
Defense's Management team, P.Geo and members of the Board of Directors / Advisor will be
available during the convention (
www.pdac.ca/convention
) and invite you to drop by the
Investors
Exchange, Booth #2415B
and at the
Core Shack Booth #3101B
in the Metro Toronto Convention
Center South, from
March 3-4, 2020
to discuss recent corporate activities, the past and futures
plans for 2020.
2019-2020 Wicheeda REE Project Highlights,
as per recent news releases.
Collection of 30 Tonne Bulk-Sample:
In late-2018, before the onset of winter, a 30 tonne bulk
sample was sent to SGS Canada Inc. (SGS) in
Lakefield, Ontario
for metallurgical and
processing test work. Composite head assays of the 30 tonne bulk sample returned a grade of
4.81% LREO comprising
Cerium, Lanthanum, Neodymium, and Praseodymium oxides
(
see Defense Metals News Release
March 14, 2019
).
Positive Flotation Metallurgy:
SGS flotation test work returned
48.7% LREO
(light rare earth
oxide) high grade concentrate of Cerium, Lanthanum, Neodymium, and Praseodymium oxides,
at
85.7% recovery
in locked cycle tests,
10.1 times upgrading ratio
from head grade and
attractive low
8.2% mass
yield
concentrate (
see Defense Metals News Release
October 23,
2019
).
Successful Diamond Drilling Campaign:
13 core holes totalling 2,005 metres further
delineated the main body of high-grade dolomite carbonatite and expended REE mineralization
northward with deposit open to expansion (
Figure 1
). One of the
highest grade REE
intercepts to date
within drill hole
WI19-31 yielded
4.43% LREO over 83 metres
; including
5.47% LREO over a drill core interval of 33 metres
1
(
see Defense Metals News Release
December 12, 2019
).
Defense Metals has exceeded its Year 1 and Year 2 exploration spend commitments
within 14 months of its option of the Wicheeda REE Project demonstrating its commitment to
rapid advancement of this project (
see Defense Metals News Release
January 14, 2020
).
Positive Hydrometallurgical Test Work:
The hydrometallurgical test results showed
TREE
extractions of ~90%
from flotation concentrate into a chloride based leach solution with
opportunities identified to increase recoveries even further. These results in conjunction with
locked cycle flotation tests conclude a very successful yearlong metallurgical flowsheet
optimization process (
see Defense Metals News Release
February 18, 2020
)
1
The true width of REE mineralization is estimated to be 70-100% of the drilled interval.
Going Forward at the Wicheeda REE Project in 2020
.
Initiation of Flotation Pilot Plant Processing
of 30 tonne bulk-sample to establish viability of
bench test results during large-scale continuous operation.
Update Wicheeda REE Project
Mineral Resource Estimate.
Diamond Drilling
to further define the Wicheeda REE Deposit, which remains open to
expansion to the north and at depth.
Baseline Environmental Study
scoping and commencement.
Initiate Economic Scoping Studies.
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 Corp. is an advanced 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".
ON BEHALF OF THE BOARD OF DIRECTORS,
Craig Taylor
, President & CEO
Defense Metals Corp
.
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' expectations for an expanded resource, plans for its properties/ projects, metallurgical
testing and results, commencement of pilot plant testing, including, but not limited to, objectives,
processes and results thereof, diamond drilling, as well as other statements relating to the technical,
financial and business prospects of Defense Metals and its properties, 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
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 uranium, 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:
Todd Hanas, Bluesky Corporate Communications Ltd., Vice President,
Investor Relations, Tel: (778) 994 8072, Email: [email protected]
CO: Defense Metals Corp.
CNW 20:56e 21-FEB-20