Welcome to our dedicated page for Defense Metals news (Ticker: DFMTF), a resource for investors and traders seeking the latest updates and insights on Defense Metals stock.
Defense Metals Corp. develops the Wicheeda Rare Earth Project, a 100%-owned rare earth elements project located near Prince George, British Columbia. Company news commonly covers drilling, resource and reserve work, metallurgical testing, environmental baseline studies, feasibility-study preparation, permitting coordination, and infrastructure planning tied to Wicheeda.
Recurring updates also address the project's role in critical minerals supply chains for defense, high-technology, clean energy, and permanent magnet applications. News may include government and industry engagement, rare earth market commentary, project-management appointments, and trading-related developments for the company's TSX Venture, OTCQB, and Frankfurt-listed shares.
On June 17, 2022, Defense Metals Corp. (OTCQB: DFMTF) announced progress in its diamond drilling campaign at the Wicheeda Rare Earth Element (REE) deposit. The initial two drill holes, totaling 615 meters, aim to establish surface contacts and infill resources, intersecting visually significant REE mineralization. The company plans to complete up to 5,000 meters of drilling to delineate resources and optimize design.
The Wicheeda REE Project, encompassing 4,244 hectares, shows potential with a robust 2021 PEA indicating a $517 million NPV and an 18% IRR.
Defense Metals Corp. has initiated its 2022 diamond drilling program at the Wicheeda Rare Earth Element (REE) deposit in British Columbia. The program aims to complete up to 5,000 metres of drilling to further delineate existing resources and assess exploration targets. Notably, previous drill results showed high-grade intervals with 3.79% TREO over 150 metres, including 8.06% TREO over 12 metres. The project has a promising PEA indicating an after-tax NPV of $517 million and an 18% IRR, highlighting significant potential for future growth.
Defense Metals Corp. (OTCQB: DFMTF) has reported promising results from the Acid Bake process testing on its Wicheeda Rare Earth Element (REE) Project. Initial findings indicate a recovery rate exceeding 95% for neodymium and praseodymium, indicating improved extraction efficiency compared to the previous method. The testing, which began in December 2021, is set to conclude in late 2022 and aims to enhance project economics by potentially lowering capital and operating costs. The Wicheeda Project boasts an after-tax net present value of $517 million and an 18% internal rate of return.
Defense Metals Corp. has engaged SRK Consulting to facilitate geotechnical drilling at its Wicheeda Rare Earth Element (REE) Project in 2022. SRK's role includes planning and executing a pre-feasibility level drilling program aimed at assessing technical risks for open pit slope design. The drilling program will aid in geotechnical characterization and model development to enhance future mine planning. The Wicheeda REE Project boasts a 2021 preliminary economic assessment showing an after-tax NPV@8% of $517 million and an 18% IRR. The project is strategically located near existing infrastructure.
On May 23, 2022, Defense Metals retained Digitonic Limited for investor relations services for approximately four months at a cost of US$100,000. This involves content creation, digital, and video marketing. The company's Wicheeda REE Property, located in British Columbia, has a PEA demonstrating an after-tax net present value of $517 million and an 18% IRR. The agreement is pending approval from the TSX Venture Exchange.
Defense Metals Corp. announced the final results from its 2021 diamond drill program at the Wicheeda Rare Earth Element (REE) deposit, totaling 1,079 metres across five drill holes. Highlights include drill hole WI21-58, which achieved 3.09% TREO over 251 metres, and WI21-59, with 2.76% TREO over 212 metres. The company identified two of the three highest grade x width intercepts during this campaign. Overall, the results indicate significant potential for resource expansion and high-grade mineralization.
Defense Metals Corp. announced results for six diamond drill holes from its 2021 drilling program at the Wicheeda Rare Earth Element deposit, covering 879 metres. Significant intersections were reported, including 3.06% TREO over 145 metres in WI21-54, extending the known zone of high-grade mineralization. The drilling confirms and expands inferred resources, enhancing the geological model. Assay results from the 2021 campaign continue to be released, with additional results expected next week.
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.