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Defense Metals Corp. (DFMTF) is a mineral exploration and development company focusing on the Wicheeda Rare Earth Element Deposit in British Columbia. The company recently signed collaboration agreements with Ucore Rare Metals Inc. and the McLeod Lake Indian Band, securing equity partnerships and codesign alignments for the Wicheeda Project. Defense Metals aims to be a vital contributor to North American rare earth element supply chain, emphasizing clean energy transitions and collaborative project development with First Nations.
Defense Metals Corp. announced the filing of a Preliminary Economic Assessment (PEA) for the Wicheeda Rare Earth Element Project in British Columbia, dated January 6, 2022. The report, prepared by SRK Consulting, shows significant metrics: pre-tax NPV at 8% of $760,585K CAD, post-tax NPV at 8% of $516,500K CAD, and pre-tax IRR at 22%. The Project has an estimated mine life of 16 years, with initial capital expenditure of $440,068K CAD and total cashflow of $1,668,640K CAD. The report is compliant with NI 43-101 standards and is accessible on SEDAR and the company's website.
Defense Metals Corp announced a successful Preliminary Economic Assessment (PEA) for its Wicheeda Rare Earth Element deposit, revealing a post-tax NPV of $512 million and an IRR of 16%. The project anticipates average revenues of $397 million annually from rare earth concentrate over its 16-year lifespan. Initial capital expenditures are estimated at $461 million, with significant potential for production rates averaging 25,423 tonnes of REO yearly. The updated mineral resource now includes 5 million tonnes of indicated resources at 2.95% TREO, marking a 36% increase compared to previous estimates.
Defense Metals Corp. (OTCQB: DFMTF) has successfully completed its 2021 drilling program at the Wicheeda Rare Earth Element (REE) deposit, totaling 5,349 metres across 29 holes. The program aimed to expand the existing resource and upgrade it to measured and indicated categories. Current resources include 4,890,000 tonnes of indicated resources at 3.02% LREO and 12,100,000 tonnes of inferred resources at 2.90% LREO. Future drilling results are expected in Q1 2022, positioning Wicheeda among North America's key rare earth deposits.
Defense Metals Corp. (OTCQB: DFMTF) has appointed Dr. Luisa Moreno to its board of directors. With a PhD in Materials Science from Imperial College London, Dr. Moreno has extensive experience in the rare earths sector and has held senior analytical positions. She is currently the CEO of Graphano Energy Ltd and brings expertise in mineral project evaluation. To incentivize her role, the company granted her stock options for 300,000 shares at $0.27 each. CEO Craig Taylor expressed optimism that her expertise will advance the Wicheeda REE project, which is in the resource expansion phase.
Defense Metals Corp. (TSXV: DEFN, OTCQB: DFMTF) announced the mobilization of a second diamond drill at its Wicheeda Rare Earth Element (REE) deposit to enhance ongoing resource expansion efforts. The Wicheeda property, located 80 km northeast of Prince George, BC, has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO and inferred resources of 12,100,000 tonnes averaging 2.90% LREO. Drilling has progressed with over 1,500 metres completed across eight holes since the campaign's start less than four weeks ago.
Defense Metals Corp. has provided an update on its Wicheeda Rare Earth Element (REE) Project, indicating progress in the economic scenario analysis conducted by SRK Consulting. The project boasts indicated resources of 4.89 million tonnes at 3.02% LREO and inferred resources of 12.1 million tonnes at 2.90% LREO. Key elements of the scenario analysis, including detailed data review and cost evaluations, are complete. The aim is to report a Preliminary Economic Assessment (PEA) by mid-November 2021, pending successful results.
Defense Metals Corp. has initiated an internal technical review of its Athabasca Basin uranium projects due to a surge in uranium prices. The Geiger North and Klaproth projects cover 9,363 hectares, strategically located near significant mining operations. These projects are expected to undergo renewed exploration, leveraging historical data to identify potential mineralization. CEO Craig Taylor emphasized the company's focus on maximizing shareholder value while advancing the Wicheeda Rare Earth Element Deposit.
Defense Metals Corp. announced significant progress in its Wicheeda Rare Earth Element deposit expansion, reporting the first drill hole of the 2021 program intersecting a 215-metre REE mineralized carbonatite section, the longest yet at the project. As of now, over 750 metres have been drilled with ongoing work on the fourth hole. This resource expansion aims to enhance indicated resources of 4.89 million tonnes at 3.02% LREO and inferred resources of 12.1 million tonnes at 2.90% LREO. CEO Craig Taylor expressed satisfaction with the progress and the potential for further expansion.
Defense Metals Corp. announced the initiation of a diamond drilling program at its Wicheeda Rare Earth Element (REE) deposit in British Columbia, aiming to complete up to 5,000 metres of drilling to expand resources. The Wicheeda property has indicated resources of 4.89 million tonnes at 3.02% LREO and inferred resources of 12.1 million tonnes at 2.90% LREO. The 2021 drill program builds on a successful 2019 campaign that enhanced tonnage and grade significantly. CEO Craig Taylor expressed optimism about solidifying Wicheeda as a premier North American REE asset.
Defense Metals Corp. (OTCQB: DFMTF) has completed the construction of steep terrain drill pads for its 2021 Wicheeda Rare Earth Element (REE) Deposit expansion program. The Wicheeda project contains indicated resources of 4,890,000 tonnes at 3.02% LREO and inferred resources of 12,100,000 tonnes at 2.90% LREO. Drilling will commence in early September, targeting resource expansion and further delineation of existing resources. The ongoing economic scenario analysis aims to inform a Preliminary Economic Assessment (PEA) for the project.
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