VANCOUVER, BC, April 27, 2022 /PRNewswire/ - Defense Metals Corp. ("Defense Metals" or the "Company") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce results for the final five diamond drill holes totalling 1,079 metres from the Company's 29 hole, 5,349 metre diamond drill program completed during fall 2021. Drill holes WI21-57 through WI21-61 were collared from the two sites within the eastern area of the Wicheeda Rare Earth Element (REE) deposit.
Resource definition drill hole WI21-58 in conjunction with WI21-59 collared from the same setup yielded two of the three highest grade x width intercepts of the 2021 drill campaign, with WI21-58 averaging3.09% TREO over 251 metres, including 3.92% TREO over 80 metres; and WI21-59 returning 2.76% TREO over 212 metres; including 3.25% TREO over 90 metres from surface.
Luisa Moreno, President, and Director of Defense Metals stated: "We are extremely pleased to publish the last assay results for our 2021 Wicheeda REE Deposit drill campaign with some of the highest-grade and widest drill intercepts encountered to date on the Project. Our first hole of 2021 yielded 3.17% TREO over 196 metres within the untested northern zone (WI21-33). With the final holes released today we have WI21-59 collared 200 metres to the south besting that result with exceptionally REE high grades over a 250-metre interval."
Infill drill hole WI21-57 (-50o dip / 290o azimuth) testing a gap within the central area of the Deposit returned a high-grade dolomite carbonate interval averaging 3.45% TREO over 116 metres from surface, giving way to mixed syenite at depth averaging 1.37% TREO over 96.5 metres along the western contact (Table 1 and Figure 1).
Delineation drill holes WI21-58 (-60o dip / 355o azimuth) and WI21-59(-70o dip / 015o azimuth) targeted inferred resources at depth along the eastern contact and intersected two of the three highest grade x width intercepts of the 2021 drill campaign, with WI21-58 averaging3.09% TREO over 251 metres, including 3.92% TREO over 80 metres; and WI21-59 returning 2.76% TREO over 212 metres; including 3.25% TREO over 90 metres from surface (Figure 2).
Infill drill hole WI21-60 (-55o dip / 205o azimuth) targeting the southern area of the Deposit returned 2.93% TREO over 154 metres; including 5.47% TREO over 39 metres from surface representing the third highest-grade reported drill intercept (Figure 3).
Like WI21-57, drill hole WI21-61 (-50o dip / 210o azimuth) targeted the central gap area from a pad 200 metres north. The hole collared into east side limestone host rock before intersecting a broad high-grade dolomite carbonatite interval averaging 3.44% TREO over 114 metres, giving way to mixed xenolithic carbonatite and syenite rocks at depth returning 0.93% TREO over 79 metres (Figure 4).
Table 1. Wicheeda REE Deposit 2021 Diamond Drill Intercepts
| Hole ID | From (m) | To (m) | Interval (m) | TREO[1](%) | Ce2O3 (%) | La2O3 (%) | Nd2O3 (%) | Pr2O3 (%) | Sm2O3 (ppm) | Gd2O3(ppm) | Eu2O3(ppm) | Dy2O3(ppm) | Tb4O7(ppm) | Ho2O3(ppm) |
| WI21-57 (290/-50) | 21.6 | 137.5 | 115.9 | 3.45 | 1.68 | 1.24 | 0.35 | 0.13 | 318 | 140 | 68 | 36 | 13 | 4 |
| and | 137.5 | 234 | 96.5 | 1.37 | 0.67 | 0.48 | 0.15 | 0.05 | 158 | 77 | 36 | 23 | 7 | 3 |
| WI21-58 (355/-60) | 1.8 | 252.6 | 250.8 | 3.09 | 1.51 | 1.08 | 0.33 | 0.12 | 315 | 134 | 62 | 29 | 11 | 3 |
| including | 51 | 131 | 80 | 3.92 | 1.93 | 1.39 | 0.40 | 0.14 | 358 | 153 | 71 | 34 | 13 | 3 |
| WI21-59 (015/-70) | 2.4 | 214 | 211.6 | 2.76 | 1.32 | 0.99 | 0.29 | 0.10 | 279 | 120 | 56 | 27 | 10 | 3 |
| including | 2.4 | 92 | 89.6 | 3.25 | 1.58 | 1.18 | 0.32 | 0.12 | 302 | 123 | 60 | 32 | 11 | 3 |
| WI21-60 (205/-55) | 1.3 | 154.9 | 153.6 | 2.93 | 1.43 | 1.01 | 0.31 | 0.11 | 320 | 145 | 67 | 36 | 12 | 4 |
| including | 1.3 | 40 | 38.7 | 5.47 | 2.69 | 1.93 | 0.55 | 0.21 | 490 | 217 | 99 | 56 | 18 | 6 |
| WI21-61 (210/-50) | 57 | 170 | 113 | 3.44 | 1.64 | 1.22 | 0.38 | 0.13 | 368 | 168 | 71 | 31 | 12 | 3 |
| and | 170 | 248.5 | 78.5 | 0.93 | 0.45 | 0.28 | 0.12 | 0.04 | 151 | 84 | 36 | 31 | 8 | 4 |
| WI21-33 (350/-80) | 5.00 | 201.00 | 196 | 3.17 | 1.52 | 1.07 | 0.37 | 0.13 | 382 | 181 | 81 | 42 | 14 | 4 |
| including | 5.00 | 55.25 | 50.25 | 3.63 | 1.74 | 1.26 | 0.41 | 0.14 | 396 | 181 | 84 | 52 | 16 | 6 |
| including | 146.00 | 201.00 | 55.00 | 4.29 | 2.07 | 1.48 | 0.47 | 0.17 | 489 | 232 | 112 | 52 | 18 | 5 |
| WI21-34 (040/-55) | 3.00 | 117.00 | 114.00 | 2.97 | 1.46 | 1.02 | 0.33 | 0.11 | 323 | 134 | 58 | 23 | 9 | 2 |
| including | 3.00 | 70.00 | 67.00 | 3.84 | 1.89 | 1.34 | 0.41 | 0.15 | 379 | 160 | 69 | 29 | 11 | 3 |
| WI21-35 (080/-55) | 1.20 | 121.00 | 119.80 | 3.87 | 1.87 | 1.34 | 0.43 | 0.15 | 434 | 200 | 88 | 52 | 17 | 6 |
| WI21-36 (108/-80) | 1.10 | 174.00 | 172.90 | 2.34 | 1.14 | 0.78 | 0.27 | 0.09 | 293 | 134 | 59 | 35 | 11 | 4 |
| including | 1.10 | 35.65 | 34.55 | 3.45 | 1.66 | 1.21 | 0.38 | 0.13 | 374 | 170 | 72 | 37 | 13 | 4 |
| including | 136.00 | 174.00 | 38.00 | 3.02 | 1.46 | 1.05 | 0.33 | 0.12 | 337 | 157 | 68 | 40 | 13 | 4 |
| WI21-37 (108/-45) | 2.00 | 139.85 | 137.85 | 3.19 | 1.56 | 1.10 | 0.35 | 0.12 | 351 | 144 | 66 | 30 | 11 | 3 |
| including | 2.00 | 57.00 | 55.00 | 4.00 | 1.96 | 1.38 | 0.42 | 0.15 | 427 | 164 | 76 | 35 | 12 | 3 |
| WI21-38 (220/-70) | 1.35 | 82.00 | 80.65 | 3.08 | 1.50 | 1.07 | 0.33 | 0.12 | 346 | 154 | 70 | 40 | 13 | 4 |
| including | 1.35 | 24.75 | 23.4 | 6.01 | 2.91 | 2.14 | 0.62 | 0.23 | 607 | 246 | 114 | 60 | 20 | 6 |
| WI21-39 (285/-60) | 4 | 114 | 110 | 2.62 | 1.28 | 0.87 | 0.30 | 0.10 | 320 | 158 | 73 | 42 | 13 | 5 |
| and | 114 | 224.8 | 110.8 | 0.72 | 0.35 | 0.21 | 0.10 | 0.03 | 129 | 75 | 31 | 30 | 8 | 4 |
| WI21-40 (345/-65) | 2.75 | 165 | 162.25 | 3.23 | 1.57 | 1.11 | 0.36 | 0.13 | 370 | 158 | 70 | 39 | 13 | 4 |
| including | 2.75 | 47.5 | 44.75 | 4.21 | 2.05 | 1.46 | 0.46 | 0.16 | 452 | 197 | 92 | 61 | 18 | 7 |
| including | 96 | 167 | 71 | 3.67 | 1.79 | 1.26 | 0.41 | 0.14 | 411 | 173 | 75 | 35 | 13 | 3 |
| WI21-43 (045/-85) | 10.75 | 124.1 | 113.35 | 0.55 | 0.26 | 0.17 | 0.07 | 0.02 | 121 | 84 | 33 | 35 | 9 | 5 |
| WI21-44 (240/-60) | 17.5 | 125.6 | 108.1 | 1.72 | 0.83 | 0.57 | 0.20 | 0.07 | 266 | 141 | 69 | 47 | 14 | 6 |
| including | 35 | 89 | 54 | 2.59 | 1.24 | 0.87 | 0.29 | 0.10 | 384 | 205 | 102 | 70 | 20 | 9 |
| WI21-45 (240/-75) | 47.8 | 106.9 | 59.1 | 1.46 | 0.67 | 0.51 | 0.17 | 0.06 | 230 | 134 | 83 | 43 | 13 | 6 |
| including | 47.8 | 74 | 26.2 | 2.48 | 1.13 | 0.88 | 0.29 | 0.10 | 384 | 225 | 151 | 67 | 21 | 8 |
| WI21-46 (190/-50) | 18.9 | 135.3 | 116.4 | 1.66 | 0.80 | 0.56 | 0.20 | 0.06 | 229 | 108 | 47 | 28 | 9 | 3 |
| including | 48 | 90 | 42 | 2.27 | 1.09 | 0.79 | 0.25 | 0.09 | 271 | 112 | 48 | 22 | 8 | 2 |
| including | 117.55 | 135.3 | 17.75 | 2.32 | 1.12 | 0.74 | 0.30 | 0.09 | 350 | 170 | 75 | 42 | 14 | 5 |
| WI21-47 (280/-60) | 17 | 98.36 | 81.36 | 0.58 | 0.28 | 0.18 | 0.08 | 0.02 | 108 | 67 | 30 | 29 | 7 | 4 |
| WI21-48 (145/-45) | 12 | 188 | 176 | 2.50 | 1.22 | 0.84 | 0.29 | 0.10 | 306 | 130 | 57 | 27 | 10 | 3 |
| including | 12 | 32 | 20 | 6.15 | 2.98 | 2.11 | 0.69 | 0.24 | 669 | 311 | 142 | 80 | 25 | 9 |
| WI21-49 (190/-70) | 33 | 183 | 150 | 3.79 | 1.80 | 1.36 | 0.41 | 0.14 | 430 | 197 | 86 | 45 | 16 | 5 |
| including | 82 | 142 | 60 | 4.77 | 2.28 | 1.71 | 0.51 | 0.18 | 520 | 228 | 103 | 54 | 18 | 5 |
| WI21-50 (215/-50) | 23 | 149.7 | 126.7 | 1.60 | 0.76 | 0.55 | 0.18 | 0.06 | 205 | 110 | 47 | 34 | 10 | 4 |
| including | 50.35 | 85.65 | 35.3 | 3.34 | 1.59 | 1.23 | 0.33 | 0.12 | 341 | 166 | 72 | 40 | 13 | 4 |
| WI21-51 (030/-55) | 4.25 | 92.7 | 88.45 | 2.47 | 1.18 | 0.88 | 0.26 | 0.09 | 267 | 127 | 56 | 25 | 9 | 3 |
| and | 92.7 | 251 | 158.3 | 1.27 | 0.62 | 0.39 | 0.17 | 0.05 | 206 | 103 | 46 | 32 | 9 | 4 |
| WI21-52 (260/-45) | 3.25 | 72.8 | 69.55 | 3.31 | 1.58 | 1.16 | 0.37 | 0.13 | 395 | 188 | 84 | 53 | 17 | 6 |
| WI21-53 (260/-65) | 2.7 | 83 | 80.3 | 3.06 | 1.48 | 1.08 | 0.32 | 0.12 | 319 | 148 | 68 | 37 | 13 | 4 |
| WI21-54 (320/-45) | 2.4 | 147 | 144.6 | 3.06 | 1.48 | 1.10 | 0.31 | 0.12 | 306 | 132 | 61 | 32 | 11 | 3 |
| WI21-55 (320/-65) | 2.2 | 119 | 116.8 | 3.81 | 1.85 | 1.36 | 0.39 | 0.15 | 364 | 169 | 77 | 36 | 13 | 4 |
| including | 2.2 | 41 | 38.8 | 4.33 | 2.11 | 1.51 | 0.46 | 0.17 | 459 | 208 | 92 | 45 | 16 | 5 |
| including | 67 | 104.5 | 37.5 | 4.87 | 2.36 | 1.79 | 0.47 | 0.18 | 403 | 188 | 87 | 39 | 14 | 4 |
| WI21-56 (065/-45) | 5.35 | 56.5 | 51.15 | 3.56 | 1.74 | 1.27 | 0.35 | 0.14 | 323 | 140 | 66 | 33 | 11 | 3 |
| and | 56.5 | 225.2 | 168.7 | 1.41 | 0.69 | 0.47 | 0.16 | 0.06 | 196 | 89 | 43 | 20 | 7 | 2 |
About the Wicheeda REE Property
The 100% owned 2,008-hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is near infrastructure, including power transmission lines, the CN railway, and major highways.
The Wicheeda REE Project yielded a robust 2021 PEA that demonstrated an after-tax net present value (NPV@8%) of $517 million, and 18% IRR 2. A unique advantage of the Wicheeda REE Project is the production of a saleable high-grade flotation-concentrate. The PEA contemplates a 1.8 Mtpa (million tonnes per year) mill throughput open pit mining operation with 1.75:1 (waste:mill feed) strip ratio over a 19 year mine (project) life producing and average of 25,423 tonnes REO annually. A Phase 1 initial pit strip ratio of 0.63:1 (waste:mill feed) would yield rapid access to higher grade surface mineralization in year 1 and payback of $440 million initial capital within 5 years.
Methodology and QA/QC
The analytical work reported on herein was performed by ALS Canada Ltd. (ALS) at Langley (sample preparation) and Vancouver (ICP-MS fusion), B.C. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited geoanalytical laboratory and is independent of the Defense Metals and the QP. Drill core samples were subject to crushing at a minimum of 70% passing 2 mm, followed by pulverizing of a 250-gram split to 85% passing 75 microns. A 0.1-gram sample pulp was then subject to multi-element ICP-MS analysis via lithium-borate fusion to determine individual REE content (ME-MS81h). Defense Metals follows industry standard procedures for the work carried out on the Wicheeda Project, with a quality assurance/quality control (QA/QC) program. Blank, duplicate, and standard samples were inserted into the sample sequence sent to the laboratory for analysis. Defense Metals detected no significant QA/QC issues during review of the data.
Qualified Person
The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a "Qualified Person" as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.
About Defense Metals Corp.
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".