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.