Thursday, August 17, 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.
Preliminary feasibility study. Defense Metals has engaged Hatch Ltd. and SRK Consulting (Canada) Inc. as principal consultants for the completion of the Wicheeda Rare Earth Element project preliminary feasibility study which is expected to be completed in the first half of 2024. SRK is one of four consultants working on the PFS and will take the lead role as well as handling the mining and tailings scope work with support from APEX Geoscience Ltd. who is acting as Defense Metals’ exploration, geology, and resource consultant. Hatch will focus on concentrating and hydrometallurgical processes, plant facilities and capital and operating costs. One-eighty Consulting Group is responsible for environmental studies, permitting, and social and community impact scoping.
SRK geotechnical investigations. SRK has made field site inspections and site infrastructure geotechnical investigations include a series of excavated test pits, and sonic overburden drill holes designed to support the preliminary characterization of the soil subsurface and bedrock foundations of potential future waste rock storage, mineralization stockpile, contact water pond, crusher, processing plant, and tailings storage facility locations. In addition to infrastructure geotechnical investigations, SRK has commenced a tailings alternatives assessment prior to advancing into a PFS-level design.
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