Rare Earth Element #Stocks: Defense Metals (TSXV: $DEFN.V) (OTCQB:
$DFMTF) Initiates Pre-Pilot Hydrometallurgical Optimization For Its #REE
Project; @DefenseMetals
Vancouver, British
Columbia – November 24, 2020: Investorideas.com
Newswire - Mining/Metals/ Green Energy Stock News Defense Metals
Corp. (“Defense Metals”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is
pleased to announce that it has
commissioned SGS Canada Inc. (“SGS”)
to complete additional pre-pilot hydrometallurgical test work utilizing high-grade
rare earth element (REE) mineral concentrate produced during the Company’s highly successful 26 tonne flotation
pilot-plant that yielded a mineral concentrate
averaging 7.4% NdPr oxide (neodymium-praseodymium) (see Defense
Metals news release dated September 23, 2020).
Read this news, featuring DEFN in full at https://www.investorideas.com/news/2020/mining/11241Defense-Metals-Hydrometallurgical-Optimization.asp
Craig Taylor, CEO comments:
“The previously closed $0.25 per share private placement
financing will be used to conduct additional fill-in hydrometallurgical
test-work with the objective of capitalizing on opportunities that have been
identified to optimize and improve on our already exceptional hydromet
recoveries. As previously disclosed, we intend to complete the preliminary
economic assessment (PEA) by the end of the Q1 2021.”
Bench-scale
hydrometallurgical test work finalized earlier this year and designed to inform
operation of a large-scale hydrometallurgical pilot-plant, yielded ~ 90% TREE (Total REE) recovery from concentrate into a
chloride-based leach solution, and production of a high-grade 67.5% TREE mixed
hydroxide precipitate (see Defense Metals news release dated February 20,
2020).
The recently commissioned fill-in test work
will have the following objectives:
·
Increase
overall REE extraction into high purity final REE precipitate.
·
Examine
impact of recycling certain process streams on metallurgical performance.
·
Prepare
for the operation of a hydrometallurgical pilot plant.
Wicheeda
REE Project
The Wicheeda REE project has
indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light
Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes
averaging 2.90% LREO[1].
Qualified Person
The
scientific and technical information contained in this news release as it
relates to the Wicheeda REE Property 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 National Instrument
43-101 – Standards of Disclosure for Mineral Projects.
About
Defense Metals Corp.
Defense Metals Corp. is a
mineral exploration company focused on the acquisition of mineral deposits containing metals and elements
commonly used in the electric power market, military,
national security and the production of “GREEN” energy technologies, such as,
high strength alloys and rare earth magnets. Defense Metals has an option to
acquire 100% of the 1,708 hectare 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”.
For further information, please visit https://defensemetals.com/ or contact:
Todd Hanas, Bluesky
Corporate Communications Ltd.
Vice President, Investor
Relations
Tel: (778) 994 8072
Email: todd@blueskycorp.ca
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this news release.
Cautionary
Statement Regarding Forward Looking Information
This
news release contains “forward‐looking information
or statements” within the meaning of applicable securities laws, which may
include, without limitation, statements relating to the Company’s plans for its
Wicheeda project, use of funds, completion of PEA, completion of fill-in test work
and expected results therefrom, the technical, financial and business prospects
of the Company, its project and other matters. All statements in this news
release, other than statements of historical facts, that address events or
developments that the Company expects to occur, are forward-looking statements.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Such statements and
information are based on numerous assumptions regarding present and future
business strategies and the environment in which the Company will operate in
the future, including the price of rare earth elements, the ability to achieve
its goals, that general business and economic conditions will not change in a
material adverse manner, that financing will be available if and when needed
and on reasonable terms. Such forward-looking information reflects the
Company’s views with respect to future events and is subject to risks,
uncertainties and assumptions, including those filed under the Company’s
profile on SEDAR at www.sedar.com. Factors that could cause actual results to
differ materially from those in forward looking statements include, but are not
limited to, continued availability of capital and financing and general
economic, market or business conditions, adverse weather conditions, failure to
maintain or obtain all necessary government permits, approvals and
authorizations, failure to maintain community acceptance (including First
Nations), decrease in the price of rare earth elements, the impact of Covid-19
or other viruses and diseases on the Company’s ability to operate increase in
costs, litigation, and failure of counterparties to perform their contractual
obligations. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
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[1] Technical Report on the Wicheeda Property, British Columbia, effective June 27, 2020 and prepared by APEX Geoscience Ltd. (Steven J. Nicholls, B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo) is available under Defense Metals Corp.’s profile on SEDAR (www.sedar.com)
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