Wednesday, November 23, 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.
Refer to the full report for the price target, fundamental analysis, and rating.
Going deep. Defense Metals released assay results from Hole WI22-72, totaling 374 meters and the deepest hole drilled to date to test below the mineral resource pit shell, terminating 360 meters below surface and 150 meters below the pit shell at the company’s Wicheeda REE Deposit. The hole was drilled within the central area of the deposit and intersected high-grade mineralized dolomite carbonate from surface grading 3.02% total rare earth oxides (TREO) over 55 meters within a broader zone averaging 2.56% TREO over 122 meters, and a well mineralized mixed lithology lower zone grading 0.9% TREO over 97 meters.
Results for ten drill holes remain outstanding. With over 5,500 meters of drilling in 18 holes completed as part of the 2022 resource delineation and pit geotechnical program, Defense Metals has released assays for eight holes representing 2,867 meters of drilling. Assays for the remaining 10 holes are expected to be released in the coming weeks and months.
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