On Wednesday,
Defense Metals Corp. (TSX-V:DEFN, OTCQB: DFMTF, Forum) stated that it had commissioned the Saskatchewan Research Council to complete an X-Ray Transmission (XRT) sorting amenability study with respect to mineralized feed sourced from its 1,708 hectare (4,220 acre) Wicheeda Rare Earth Element property located close to existing infrastructure near Prince George, British Columbia (BC).
Along with the SRC, Defense Metals was awarded National Research Council of Canada Industrial Research Assistance Program funding, a Government of Canada funded program mandated to provide financial support for technology innovation. Funding awarded under the NRC IRAP will cover approximately 70% of the estimated cost of the XRT amenability study test-work.
To read the full details on this study, click
here.
DEFN recently made news when it exercised 3,157,828 warrants at $0.20 and the remaining unexercised warrants with an expiry date of December 21, 2020 had expired.
The proceeds of the exercise of these warrants were $631,565.60. The use of proceeds will be used to complete the Preliminary Economic Assessment (PEA) in the new year, and for general working capital and corporate purposes.
Company CEO Craig Taylor commented:
"The exercise of warrants adds further funds to our company and will assist in advancing the Wicheeda Rare Earth Elements project. We have made tremendous progress over the past two years and we look forward to continuing that success in 2021.”
FULL DISCLOSURE: Defense Metals Corp. is a client of Stockhouse Publishing.