Wednesday, January 18, 2023
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.
Refer to the full report for the price target, fundamental analysis, and rating.
2022 drill program. The 2022 resource delineation and pit slope geotechnical drill program comprised 18 core drill holes totaling 5,510 meters. Defense Metals recently released results from eight core drill holes, representing 2,104 meters of drilling, completed during 2022. To date, assay results have been announced for a total of 16 holes with results for the two remaining holes expected shortly.
Recent assay results. Recent results were from two exploration, three resource delineation, and three pit slope geotechnical core drill holes, one of which returned the second longest REE-mineralized intercept of the 2021 and 2022 Wicheeda drilling programs. Following receipt of remaining results, Defense Metals expects to update the Wicheeda mineral resource to include results from 10,859 meters of drilling in 47 core holes completed during the 2021 and 2022 drilling programs that were not included in the preliminary economic assessment (PEA).
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