Wednesday, September 13, 2023
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, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Mineral resource estimate. Defense Metals released results from its updated mineral resource estimate (MRE) for the Wicheeda Rare Earth Element (REE) Project. The 2023 mineral resource estimate is based on an updated geological model incorporating the results from 10,350 meters of drilling within 45 holes drilled by Defense Metals during 2021 and 2022.
Larger and higher-quality resource base. The 2023 resource estimate includes a 6.4 million tonne measured mineral resource averaging 2.86% total rare earth oxide (TREO), a 27.8 million tonne indicated mineral resource averaging 1.84% TREO, and an 11.1 million tonne inferred mineral resource averaging 1.02% TREO. The 2023 mineral resource estimate represents an 18.2% increase in TREO and a 31.3% in tonnage compared to the 2021 MRE. Total measured and indicated mineral resources of 34.2 million tonnes, averaging 2.02% TREO is a significant upgrade compared to the previous estimate and can be included in the mine plan for the preliminary feasibility study that is expected to be completed in the first half of 2024.
Get the Full Report
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
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.