Wednesday, October 11, 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.
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Proving out the flowsheet. Defense Metals reported recent results of comprehensive comminution and beneficiation test work conducted by SGS Canada using samples from the Wicheeda Rare Earth Deposit. The three key rare earth-bearing lithologies in the Wicheeda deposit are: 1) higher-grade dolomite carbonatite (DC) comprising 73% of the deposit, 2) xenolithic carbonatite (XE) representing 24%, and 3) syenite (SYN). The DC material is expected to comprise most of the mill feed with the deeper XE and SYN mined later. SGS has performed a thorough investigation of the comminution and beneficiation characteristics of a wide variety of samples.
Beneficiation results. A total of 90 open-circuit flotation tests, using 1 or 2 kg of feed, were conducted on 17 individual variability samples, various composites, and blends. At a feed grade of 3%, the best fit line indicates 80% recovery to a 45% total rare earth oxide (TREO) concentrate. Closed circuit operations, as in a flotation plant, would deliver higher recoveries and grades. Favorable results were obtained in a locked cycle test on a deposit composite with a feed grade of 2.9% resulting in a rare earths recovery rate of 85% at a concentrate grade of 50.7% TREO.
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