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% LREO1. 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 metals2.
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."
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)
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2 See
Defense Metals News Release date September 23, 2020
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SOURCE Defense Metals Corp.