Wednesday, June 08, 2022
Defense Metals Corp. (DFMTF)
2022 Diamond Drilling Program in Full Swing
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.
Drills are turning. Defense Metals has commenced diamond drilling at its Wicheeda Rare Earth Element (REE) deposit and expects to complete up to 5,000 meters of drilling to delineate existing resources and test near deposit exploration targets. Geotechnical and hydrogeological drilling will help optimize the open pit design and collect additional material for metallurgical test work. The 2022 drilling may include up to 1,500 meters of pit geotechnical and hydrogeological drilling, 1,500 meters of resource delineation and near resource exploration drilling, and up to 2,000 meters of PQ core for metallurgical testing. Results will be incorporated, along with results from the 2021 drill program, into a preliminary feasibility study (PFS) to be released during the first half of 2023.
Expanding and upgrading resources. The current NI 43-101 Preliminary Economic Assessment highlights 5.0 million tonnes of indicated resources averaging 2.95% total rare earth oxides (TREO) and 29.5 million tonnes of inferred resources averaging 1.83% TREO within a conceptual pit shell. The 2022 drill program has started from existing drill pads prepared during 2021 in the northern area of the Wicheeda REE deposit that returned some of the highest grade and width intercepts of the 2021 drilling program….
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*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.