Defense Metals Stock Price, News & Analysis

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.

Defense Metals Corp. has signed a non-binding Memorandum of Understanding (MOU) with Sinosteel Equipment & Engineering Co., Ltd. The MOU focuses on information sharing, beneficiation testwork, and investigates the establishment of a large-scale pilot plant at the Wicheeda Rare Earth Property. The collaboration aims to assess the economic and technical feasibility of mine development. The benefit includes sharing expertise and a 200kg rare earth sample for testing, with costs expected at US$200,000. The pilot plant will leverage both beneficiation and hydrometallurgical processes.

Defense Metals Corp. has appointed a British Columbia contractor to construct drill pads for its 2021 Wicheeda Rare Earth Element (REE) Deposit program, set to commence late July 2021. The project has indicated resources of 4,890,000 tonnes averaging 3.02% LREO and inferred resources of 12,100,000 tonnes averaging 2.90% LREO. The drill program will expand REE resources and delineate existing deposits. Additionally, the company granted 950,000 stock options at $0.25 per share and is pursuing export permits for REE concentrate. A marketing agreement with North Equities has also been established.

Defense Metals Corp. (OTCQB: DFMTF) attended the 2021 SelectUSA Investment Summit, held virtually from June 7-11, 2021. The company is advancing its Wicheeda Critical Rare Earth Element (REE) Property in British Columbia, boasting indicated resources of 4.89 million tonnes at 3.02% LREO. Key initiatives include a resource expansion drill campaign and hydrometallurgical tests. The U.S.-Canada cooperation in critical minerals aims to enhance supply chain resilience. CEO Craig Taylor expressed excitement for potential partnerships with U.S. agencies to support the U.S. industrial metals sector.

Defense Metals Corp. plans to conduct a diamond drill campaign at its Wicheeda Rare Earth Element deposit in 2021, aiming to drill 2,000 to 5,000 meters to expand and delineate resources. The Wicheeda Property has indicated resources of 4,890,000 tonnes at 3.02% LREO and inferred resources of 12,100,000 tonnes at 2.90% LREO. The drilling will build on the 2019 campaign that led to significant resource increases. CEO Craig Taylor noted the potential for additional near-surface resources.

Defense Metals Corp. (OTCQB: DFMTF) provided an update on its hydrometallurgical test work at the Wicheeda REE Property, yielding a mineral concentrate with an average of 7.4% NdPr oxide. The property features indicated resources of 4,890,000 tonnes at 3.02% LREO, and inferred resources of 12,100,000 tonnes at 2.90% LREO. Recent tests indicate high REE extraction and successful impurity removal, with the completion of optimization expected in 4-6 weeks. These advancements suggest potential future cost reductions and improved efficiency for the planned pilot plant.

On April 20, 2021, Defense Metals Corp. announced receipt of a proposal for a continuous hydrometallurgical pilot plant from SGS Canada for its Wicheeda Rare Earth Element (REE) Project in British Columbia. 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. Following a successful flotation pilot, the hydrometallurgical program aims to establish flowsheet operability and produce a saleable NdPr oxide product. The pilot campaign is expected to take approximately six months, subject to securing financing.

Defense Metals Corp. (OTCQB: DFMTF) announced it has received requests for Wicheeda REE mineral concentrate samples from two top global REE smelting enterprises. This marks the third and fourth requests the company has received, reinforcing its potential for future offtake agreements. The Wicheeda property boasts indicated resources of 4,890,000 tonnes at 3.02% LREO and inferred resources of 12,100,000 tonnes at 2.90% LREO. The increasing interest from international refiners highlights the growing demand for high-quality, North American REE products.

Defense Metals Corp. (OTCQB: DFMTF) has engaged SRK Consulting to perform an economic scenario analysis for the Wicheeda Rare Earth Element (REE) Project in British Columbia. The project has indicated resources of 4.89 million tonnes at 3.02% LREO and inferred resources of 12.1 million tonnes at 2.90% LREO. This analysis will drive the forthcoming Preliminary Economic Assessment (PEA) by evaluating mine development scenarios and associated costs. The company aims to leverage SRK's expertise in REE for the assessment, which will inform the project's economic feasibility.