- Defense Metals (DEFN) is announcing high-grade rare earth element (REE) assays from the Wicheeda Deposit in B.C.
- Infill drill hole WI22-68 yielded 3.58 per cent total rare earth oxide (REO) over 124 m, including 6.7 per cent total REO over 18 m
- Drill hole WI22-63 returned 2.29 per cent total REO over 39 m, including 5.08 per cent total REO over 9 m
- The deposit is estimated to offer a 19-year mine life with average production of 25,423 tonnes REO per year
- Defense Metals is a mineral exploration, and development company focused on supplying the green energy technology industry
- Defense Metals (DEFN) closed up by 4.08 per cent, trading at $0.255 per share
Defense Metals (DEFN) is announcing high-grade REE assays from the Wicheeda Deposit in B.C.
The results stem from an additional two core drill holes across 717 m collared from the northern area of the deposit.
Infill drill hole WI22-68 yielded a broad mineralized intercept of high-grade dolomite carbonatite averaging 3.58 per cent total REO over 124 m, including 6.7 per cent total REO over 18 m.
Drill hole WI22-63 returned 2.29 per cent total REO over 39 m, including 5.08 per cent total REO over 9 m.
Wicheeda spans 4,244 hectares northeast of Prince George with ready access to infrastructure, rail and all-weather roads.
Its 2021 preliminary economic assessment (PEA) substantiates an after-tax net present value (NPV 8 per cent) of $517 million and an 18-per-cent IRR. The PEA contemplates a 1.8 Mtpa mill throughput open-pit mining operation over a 19-year mine life with average production of 25,423 tonnes REO per year.
“These two core drill holes, in particular WI22-68, once again demonstrate the potential for high REE grades over significant widths within the northern Wicheeda Deposit,” stated Luisa Moreno, President of Defense Metals.
“We look forward to receiving additional assay results of other resource infill drill holes from the northern and central Wicheeda Deposit that appear similar in terms of visually estimated REE mineralization percentage,” she added.
Wicheeda Deposit 2022 diamond drill intercepts
Defense Metals is a mineral exploration, and development company focused on supplying the green energy technology industry.
Defense Metals (DEFN) closed up by 4.08 per cent, trading at $0.255 per share.
