Tuesday, October 18, 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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Flotation tests across a range of lithologies. The Wicheeda deposit is to be developed as an open pit mining operation. Once mined, rare earth oxides (REO) will be milled and processed in a flotation plant to produce a REO concentrate. The company is currently performing flotation tests on samples of differing lithologies. The Wicheeda deposit is characterized by three main rare earths bearing lithologies, including dolomite carbonatite which is the dominant lithology, xenolithic carbonatite, and syenite. Limestone is the major waste rock.
Conventional flotation yields high grade concentrate. Approximately 70 flotation tests have been performed. Results have confirmed that conventional flotation from a range of lithologies and grades can produce high grade rare earths mineral concentrate at high recovery rates.
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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.
