Defense Metals (DEFN.V): Drilling Turning at “Rare” Rare Earths Project in British Columbia, Canada, Ahead of PEA
Defense Metals (TSX-V: DEFN)(OTC: DFMTF) — currently trading around C$0.25 per share — has the drills turning on a resource expansion program at its flagship Wicheeda Rare Earth Element (REE) project in British Columbia, Canada.
The fall 2021 program, which is a follow up to a highly successful 2019 campaign, is slated for 32 holes [5,000 meters] and is being deployed to expand the known deposit and to further delineate existing resources.
The project currently boasts a resource of 4.9 million tonnes Indicated at 3.02% LREO (Light Rare Earth Elements) plus 12.1 million tonnes Inferred at 2.90% LREO. And there are a number of exciting targets to follow up on from the previous drill program.
Defense Metals CEO, Craig Taylor, commented via press release:
“Defense Metals is excited to commence its 2021 resource expansion and delineation diamond drilling at Wicheeda. We expect completion of the 2021 campaign will further solidify Wicheeda as one of the premier North American REE assets, and subject to a successful PEA, leave us well positioned to initiate further advanced economic studies.”
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