#RareEarth #Stock news - Defense Metals
(TSX-V: $DEFN.V) (OTCQB: $DFMTF) receives
requests from two interested third-party Rare Earth Element ( #REE) processors
for samples; @DefenseMetals
Vancouver, British Columbia, March
24, 2021 –
Investorideas.com Newswire,
MiningSectorStocks.com and RenewableEnergyStocks.com -Mining/Metals/ Green Energy Stock
News- Defense
Metals Corp. (“Defense Metals”)
(TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is pleased to announce that it has recently been notified by
Welsbach Holdings Pte Ltd. ("Welsbach")
that is has received requests from two interested third-part Rare Earth Element
(REE) processors for samples of high-grade REE mineral
concentrate for the purposes of evaluation prior to entering discussions with
respect to the negotiation of an initial memorandum of understanding (MOU) and
subsequent potential mineral concentrate offtake agreements.
Read this news
featuring DEFN in full at https://www.investorideas.com/news/2021/mining/03241DEFN-Rare-Earth-Element.asp
Defense Metals is currently advancing the road accessible
Wicheeda Critical Rare Earth Element (REE) Property, which 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% LREO[1].
Since completing its flotation
pilot plant test-work resulting in a 1,200 kilogram bulk concentrate sample (see
Defense Metals news release dated September 23, 2020), the Company and its
advisors have contacted several potential offtake and strategic partners. The two REE processors
requesting samples of Wicheeda REE mineral concentrate represent major and
mid-tier REE processors. The requests from
each potential buyer in Asia are for 2-6 kilogram size samples of REE
concentrate. The requests resulted from conversations held between the
interested parties known to Welsbach.
Defense Metals has initiated the process of preparing
Canadian government export permit documentation required to export these
critical REE mineral concentrate samples internationally.
Craig Taylor, CEO of Defense Metals, stated: “We are extremely pleased that Welsbach has
successfully identified two REE processors interested in receiving
representative samples of our high-grade Wicheeda REE Deposit mineral
concentrate. These requests represent a major step forward
in our efforts to assess the market potential of long-term REE mineral concentrate
offtake sale agreements.”
Mr. Brendan Jephcott
of Weslbach says: “Potential partners in Asia are seeking
a secure, long-term supply of rare earth concentrate to cover projected
shortages in NdFeB magnet supply as demand for electric motors used in new
energy vehicles continues to grow.”
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”.
For
further information, please contact:
Todd Hanas, Bluesky
Corporate Communications Ltd.
Vice President, Investor
Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca
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 potential MOU and offtake
agreements for REE mineral concentrate, obtaining government export permits,
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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[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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