VANCOUVER, Oct. 1, 2019 /CNW/ - Defense Metals Corp.
(TSXV: DEFN), (US-OTCQB: DFMTF), (FSE: 35D) ("Defense
Metals") is pleased to announce it has submitted the initial
batch of 124 core samples from its successful 13 hole, 2,005 metre
summer 2019 Wicheeda Rare Earth Element Deposit diamond drill
program to ALS Global ("ALS") analytical laboratories,
Kamloops, BC.
The samples are currently at ALS where they are undergoing
sample preparation and multi-element ICP-MS analysis via
lithium-borate fusion to determine individual Rare Earth Elements
(REE). ALS is an International Standard (ISO/IEC) 17025:2005
and ISO 9001:2015 certified analytical testing
facility.
Defense Metals expects the balance of 2019 drill core samples
will be submitted to ALS within the next two weeks. As previously
reported all 13 drill holes intersected significant intercepts of
visibly REE mineralized dolomite-carbonatite rocks (see the
Company's September 23, 2019 News
Release). The Company will provide additional updates as work
progresses.
Craig Taylor, President and
CEO of Defense Metals, commented: "Based on the
presence of visually encouraging REE mineralization we look forward
to receiving the results of REE analysis from our first batch of
core samples submitted to ALS and releasing these results to market
as they become available over the coming weeks. Our exploration
crews are working hard to expedite logging, cutting and sampling of
the remaining drill core from our highly successful 2019 Wicheeda
Project diamond drill campaign. We expect to generate additional
news flow over the coming months as we continue to receive results
from the drilling and metallurgical test-work which is rapidly
nearing completion."
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.
ON BEHALF OF THE BOARD OF DIRECTORS,
Craig Taylor, President &
CEO
About Defense Metals
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 REE 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".
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 Metals' plans
for its properties/projects, assays, drill results, 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", "should", "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 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.
https://defensemetals.com/
SOURCE Defense Metals Corp.