Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTC; 35D:FSEQB) created a three-dimensional geological model of the rare earth elements (REEs) Wicheeda deposit at its Wicheeda project near Prince George, Canada, the company announced in a news release.
"The new 3D geological model represents a fundamental evolution in the understanding of the geologic controls of REE mineralization within the Wicheeda REE Deposit, and is expected to inform and improve confidence in an updated mineral resource estimate, which is currently underway," the company stated.
Defense Metal's team incorporated into the model results from diamond drilling done in 2008, 2009 and 2019, surface geologic mapping and various surveys: soil geochemical, airborne magnetic and radiometric geophysical.
"Based on these data and a reinterpretation of the geologic units, the Wicheeda REE deposit is viewed as a north-northeast dipping limestone-hosted composite layered syenite-carbonatite sill complex having dimensions of approximately 400 meters north-south by 100–250 meters east-west," the release described.
The model also shows significant potential exists for expansion of the deposit, to the north in the downplunge direction where it remains open, the firm stated.
The explorer advanced the new model past the former 1% light rare earth element (LREE) lower cutoff grade shell model, which was the basis for the company's current maiden Inferred mineral resource estimate of 11,370,000 tons averaging 1.95% LREEs. The new model will be used to update the mineral resource estimate, work on which is in progress.
"With the completion of our first 3D model for the Wicheeda REE Deposit we have made significant headway in our technical understanding of the geologic controls on REE mineralization. The new geological model arms our technical team with a strong fundamental predictive model that will serve to guide efforts to advance and expand the Wicheeda REE deposit," CEO Craig Taylor said in the release.
Read what other experts are saying about:
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.
