Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTC; 35D:FSEQB) reported in a news release its 2020 goals for its Wicheeda rare earth elements (REEs) project near Prince George, Canada.
"We expect 2020 to be a watershed year of significant rerating for Defense Metals and an elevated presence amongst our peers," President and CEO Craig Taylor said in the release.
This year, the Canadian company intends to finish developing the hydrometallurgical flowsheet for Wicheeda, start flotation pilot plant processing of the bulk sample and update the project's mineral resource to encompass the 2019 drill program results.
Also in the release, Defense Metals provided work highlights from 2019 at Wicheeda.
The minerals exploration company sent the 30-ton bulk sampled it had collected in 2018 to SGS Canada for metallurgical and processing test work. Flotation testing yielded a 48.7% light rare earth oxide (LREO), high grade concentrate of cerium, lanthanum, neodymium and praseodymium oxides, and showed an 85.7% recovery on locked cycle tests.
Defense Metals began hydrometallurgical studies, which initially indicated that high REE extractions can be accomplished via acid leaching and caustic conversion. Tests on removal of impurities were positive.
The company completed a drill program of 13 core holes over 2,005 meters (2,005m). Results further delineated the main body of high-grade dolomite carbonatite at Wicheeda and extended the REE mineralization to the north. One of the highest grade REE intercepts drilled to date at Wicheeda was 4.43% LREO over 83m, including 5.47% LREO over a drill core interval of 33m (hole WI19-31). The deposit currently remains open.
Within only 12 months' time, Defense Metals already exceeded its exploration spending requirements for years one and two, "demonstrating its commitment to rapid advancement of this project," the release noted.
[NLINSERT]Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Defense Metals. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Defense Metals, a company mentioned in this article.
