Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE) announced in a news release it completed an update to its mineral resource estimate for its Wicheeda rare earth element (REE) project in British Columbia, Canada.
"Our successful 2019 drill campaign has resulted in a significant expansion and increased level of confidence in the mineral resources of the Wicheeda REE deposit, which remains open to the north and west," President and CEO Craig Taylor said in the release.
The total updated Wicheeda resource now consists of Indicated resources of 4,890,000 tons (4.890 Mt) averaging 3.02% light rare earth elements (LREEs), which were upgraded from the Inferred category, and an Inferred resource of 12.1 Mt averaging 2.52% LREEs, at a cutoff grade of 1.5% LREEs. LREEs include cerium, lanthanum, neodymium, praseodymium, samarium and niobium.
Compared to the previous resource estimate, the update reflects a 49% increase in overall tonnage and a 30% boost in overall grade. Also, Inferred resources grew by 730,000 tons.
The updated resource incorporates results of 2019 diamond drilling of 13 holes totaling 2,005 meters.
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