VANCOUVER, BC, Feb. 11, 2021 /CNW/ - Defense Metals Corp.
("Defense Metals") (TSXV: DEFN) (OTCQB:
DFMTF) (FSE: 35D) is pleased to announce that it has engaged
Welsbach Holdings Pte Ltd. ("Welsbach") to assist in
building awareness for its Wicheeda Rare Earth Element (REE)
Property ("Wicheeda"), providing physical product market
research, introductions to supply chain partners, and assistance in
commercial negotiations.
The road accessible Wicheeda REE Property is located close to
infrastructure approximately 80 kilometres northeast of
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.
Craig Taylor, CEO of Defense
Metals, stated: "The engagement of Welsbach will enable
Defense Metals to leverage their extensive experience and
relationships in the Asia-Pacific
region (Australia, Singapore, China, Japan,
and South Korea), Continental
Europe, and the United States
towards engaging in one-on-one discussions with REE refiners and
separators. The goal is the successful negotiation of one or more
binding commercial REE offtake and/or other supply chain agreements
with respect to the Wicheeda REE Deposit. Welsbach will immediately
commence its work aiding with respect to strategic partner
identification, business introductions, and ultimately commercial
negotiations."
Brendan Jephcott, Welsbach's
Asia advisory partner
said: "We are pleased to engage with Defense Metals
Corp. regarding the Wicheeda project. The current global situation
requires supply chains to strengthen their resilience and increase
their capacity, in order to respond to growing demand. Part of our
mission at Welsbach is to support the efforts of junior mining
companies and assist them in their commercial processes. Welsbach
is a specialist in the Energy Transition Metals Supply Chain
and we are keen to bring Defense Metals Corp project to our network
of mid and downstream partners".
_____________________________
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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)
|
2 See
Defense Metals News Release dated September 23, 2020
|
About Welsbach Holdings Pte Ltd.
For more information regarding Welsbach please click
here.
Welsbach invests and develops projects that are related to
technology materials and clean energy generation. Welsbach has
supply chains partners in the upstream and midstream segments;
Welsbach also focuses on R&D solutions for industrial consumers
in the downstream segment.
Carl Auer Von
"Welsbach" was an Austrian scientist who
separated didymium into the
elements neodymium and praseodymium in 1885.
His work on rare-earth elements led to the development of
the ferrocerium "flints" used in modern lighters,
the gas mantle, which brought light to the streets of
Europe in the late 19th century,
and the metal-filament light bulb.
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
services to be provided by Welsbach and the expected outcomes
including the negotiation and completion of commercial agreements,
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.
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SOURCE Defense Metals Corp.