Thursday, October 27, 2022
Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the 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”.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
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Resource and geotechnical drilling completed. Defense Metals completed resource delineation and pit geotechnical diamond drilling for the 2022 exploration season. A total of 5,500 meters of diamond drilling was completed in 18 holes. The drilling program included five pit slope geotechnical and hydrogeologic holes totaling 1,150 meters. Geotechnical drilling will aid optimizing the open pit slope design. Results from the program will support the Preliminary Feasibility Study (PFS) expected to commence this quarter with completion expected in the first half of 2023.
Recent assay results. Defense Metals released assay results from one additional core hole, totaling 383 meters, collared within the northern area of Defense Metals’ Wicheeda Deposit. Infill hole WI22-70 was drilled southwest within the northern area of the deposit and intersected a broad zone of mineralized dolomite carbonatite averaging 2.50% total rare earth oxide (TREO) over 113 meters.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
