VANCOUVER, BC, Feb. 22, 2021 /CNW/ - Defense Metals Corp.
("Defense Metals") (TSXV: DEFN) (OTCQB: DFMTF) (FSE:
35D) is pleased to announce completion of quarterly stream flow
measurements, and water quality sample collection; in addition to
installation of snow survey markers, weather station data download,
and equipment checks at its Wicheeda Rare Earth Element (REE)
Property.
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.
Despite higher than normal winter temperatures
creating challenging ice conditions, with most stream sites
still experiencing open water, environmental monitoring crews were
able to complete the planned stream flow measurements and water
chemistry sampling.
Quarterly site visits, scheduled as part of a two year program
of baseline environmental data monitoring initiated during summer
2020, are completed by Defense Metals' environmental consultants;
EDI (Environmental Dynamics Inc.) and
Hydrologica Environmental Consulting Inc. Defense
metals is also pleased to announce the engagement of
Northern Spruce Contracting Ltd., a 100% aboriginal owned
company established in 2010 to provide environmental contracting
services throughout northern British
Columbia.
Craig Taylor, CEO of Defense
Metals, stated: "Continuation of baseline environmental
monitoring and ensuring we remain on schedule with completion of
quarterly field visits demonstrates our commitment to advancing the
Wicheeda REE Project. Defense Metals continues to be one of
the most active companies in the rapidly emerging REE space as we
work in parallel on all facets of project development including:
baseline environmental, pilot-scale metallurgical studies; in
addition to economic modelling and scenario analysis as we work
towards completion of a PEA during 2021."
About Northern Spruce
Northern Spruce Contracting Ltd., a 100% aboriginal owned
company, was established in 2010 to provide environmental
contracting services throughout northern British Columbia. Northern Spruce is owned by
Cheryl Chingee and Marcel Gagnon, members of the McLeod Lake Indian
Band and the Lheidli T'enneh First Nation, respectively. Northern
Spruce's vision is to be a valued resource and service provider for
clients working in northern BC. Northern Spruce's mission is to
create a long-term sustainable business that provides the field
services required by natural resource industry clients to minimize
environmental impacts; and give back to our communities by
providing employment and training opportunities when possible.
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 the PEA, plans for the 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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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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SOURCE Defense Metals Corp.