Defense Metals Stock Price, News & Analysis

On April 5, 2022, Defense Metals Corp. closed a non-brokered private placement, raising $4,558,049.57. This included the issuance of 6,340,057 flow-through common shares at $0.35 each and 8,996,267 units at $0.26 per unit. The proceeds will fund the exploration of the Wicheeda Rare Earth Element Project in British Columbia. The company issued 487,087 finder warrants and incurred finder fees of $162,152.92. Notably, an insider participated in the placement, qualifying as a related party transaction, exempt from formal valuation.

Defense Metals Corp. announced positive results from two diamond drill holes totaling 189 metres at its Wicheeda Rare Earth Element (REE) deposit. Drill hole WI21-49 showed significant results of 3.79% TREO over 150 metres, including 4.77% TREO over 60 metres. This finding indicates a newly discovered zone of high-grade REE mineralization beneath current resource levels. Another drill hole, WI21-50, averaged 1.60% TREO over 126.7 metres. The company continues to receive assay results from its 2021 drilling campaign, which may further enhance resource estimates.

Defense Metals announced promising results from four diamond drill holes at the Wicheeda Rare Earth Element deposit in British Columbia. With a total of 615 meters drilled, hole WI21-48 showed a significant 2.50% TREO over 176 meters, including 6.14% TREO over 20 meters from the surface. Drilling results indicate high-grade REE mineralization, particularly in the north central area. Additional assay results are expected soon as part of a 29-hole drill program aimed at resource expansion.

Defense Metals announced results from six diamond drill holes totaling 845 meters at the Wicheeda Rare Earth Element (REE) deposit. Notable findings include drill hole WI21-40 with 3.23% TREO over 162 meters and WI21-33 with 3.17% TREO over 196 meters, marking the highest grades reported in the 2021 program. The drilling indicates a significant presence of high-grade mineralization and potential resource expansion. Further assay results are pending from the ongoing resource expansion campaign.

Defense Metals Corp. announced significant results from its recent drilling at the Wicheeda Rare Earth Element (REE) deposit. Drill holes WI21-37 and WI21-38 intersected the highest-grade REE mineralization to date, with WI21-38 yielding 6.01% TREO over 23.4 metres and WI21-37 returning 3.19% TREO over 138 metres. These results align with geological models, confirming the economic potential of the resource. The company anticipates further assay results in the near future, highlighting ongoing efforts in resource expansion.

Defense Metals Corp. announced promising results from the initial four drill holes of a 29-hole diamond drill program at the Wicheeda Rare Earth Element deposit, totaling 795 meters. Notably, drill hole WI21-33 reported 3.17% TREO over 196 meters and extended mineralization beyond the current resource pit shell. The company anticipates further assay results in the coming weeks, which could enhance the existing resource categories. The project's economic assessment projects a substantial net present value of $517 million and an 18% internal rate of return.

Defense Metals Corp. has appointed John Goode, a rare earth element processing expert, to its advisory board. Goode brings over 50 years of experience in metallurgy, having previously worked for Kilborn Engineering and as a special consultant on the Wicheeda REE Project. His expertise is expected to enhance metallurgical processes and contribute to the advancement of the Wicheeda REE Project, which has a strong preliminary economic assessment showing an after-tax NPV of $517 million and an 18% IRR. The project forecasts a mill throughput of 1.8 Mtpa and substantial production of REE annually.

Defense Metals Corp. announced the shipment of 1,576 core samples from its Wicheeda rare earth element (REE) Project, representing 70% of its 2021 drilling program. The samples, totaling approximately 3,900 meters across 23 drill holes, were sent to ALS Canada for analysis. Initial assay results for the first four holes are expected by mid-February 2022, with further updates to follow. The Wicheeda Project has a positive preliminary economic assessment indicating an after-tax NPV of $517 million and 18% IRR. The company is focused on expanding its REE resources.

Defense Metals Corp. has outlined its strategic achievements for 2021 and key objectives for 2022, focusing on the Wicheeda Rare Earth Element Project. The Company finalized a 100% acquisition and filed a preliminary economic assessment (PEA) indicating a net present value of $517 million and an IRR of 18%. Goals for 2022 include resource upgrading, optimizing processing flowsheets, and initiating a pre-feasibility study. Additionally, Defense Metals aims to engage users, strengthen its balance sheet, and implement an environmental strategy to enhance community collaboration.