Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE) reported in a news release that "it has received final property-wide high-resolution airborne LiDaR (Light Detection and Ranging) survey results for its 1,708 hectare Wicheeda Rare Earth Element (REE) Property near Prince George, British Columbia."
The company stated that, as outlined in a Technical Report prepared in mid-2020, "the Wicheeda Rare Earth Elements (REE) 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% LREO." Defense Metals noted additionally that " 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 metals."
The firm indicated that it had contracted with Eagle Mapping Ltd. of Port Coquitlam, B.C. to provide high-resolution 13 cm pixel color aerial photography as well as to conduct the LiDaR survey at a minimum density of 8 points-per-square-meter over the entire Wicheeda REE Project area.
The company's CEO Craig Taylor remarked, "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 modeling, and resource estimation; and looking forward to optimizing the siting of critical development infrastructure."
The firm noted that the Wicheeda REE Property is located in the Foreland Belt within the Rocky Mountain Trench, an a geographic that hosts the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits. The company pointed out that it holds an option allowing it to acquire 100% the Wicheeda REE Property which is readily accessible by all-weather gravel roads and is conveniently located close to desired infrastructure including electric power lines, railways and major highways.
Read what other experts are saying about:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Defense Metals. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Defense Metals, a company mentioned in this article.