#RenewableEnergy #Stocks:
Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Engages Welsbach Holdings Pte.
Ltd. to Advance Wicheeda #REE Project; @DefenseMetals
Vancouver, British Columbia – February 12, 2021: Investorideas.com Newswire,
MiningSectorStocks.com and RenewableEnergyStocks.com
-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 engaged Welsbach Holdings Pte Ltd. (“Welsbach”)
to assist in building awareness for its Wicheeda Rare Earth Element
(REE) Property (“Wicheeda”), providing
physical product market research, introductions to supply chain partners, and
assistance in commercial negotiations.
Read
this news, featuring DEFN in full at https://www.investorideas.com/news/2021/mining/02121DEFN-Wicheeda-REE.asp
The
road accessible Wicheeda REE Property is located close to infrastructure approximately
80 kilometres northeast of Prince George, British Columbia (BC). The Wicheeda 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].
Flotation pilot-plant processing of a 26-tonne bulk sample of Wicheeda REE
material yielded a mineral concentrate averaging 7.4% NdPr oxide (neodymium-praseodymium)
critical magnet metals[2].
Craig Taylor, CEO of Defense Metals, stated: “The engagement of Welsbach will enable Defense
Metals to leverage their extensive experience and relationships in the
Asia-Pacific region (Australia, Singapore, China, Japan, and South Korea),
Continental Europe, and the United States towards engaging in one-on-one
discussions with REE refiners and separators. The goal is the successful
negotiation of one or more binding commercial REE offtake and/or other supply
chain agreements with respect to the Wicheeda REE Deposit. Welsbach will
immediately commence its work aiding with respect to strategic partner
identification, business introductions, and ultimately commercial negotiations.”
Brendan Jephcott, Welsbach’s Asia advisory partner said: “We are pleased to engage with Defense
Metals Corp. regarding the Wicheeda project. The current global situation
requires supply chains to strengthen their resilience and increase their
capacity, in order to respond to growing demand. Part of our mission at
Welsbach is to support the efforts of junior mining companies and assist them
in their commercial processes. Welsbach is a specialist in the Energy
Transition Metals Supply Chain and we are keen to bring Defense Metals Corp
project to our network of mid and downstream partners".
About Welsbach Holdings Pte Ltd.
For more information regarding Welsbach please click here.
Welsbach invests and
develops projects that are related to technology materials and clean energy
generation. Welsbach has supply chains partners in the upstream and midstream
segments; Welsbach also focuses on R&D solutions for industrial consumers
in the downstream segment.
Carl
Auer Von “Welsbach” was an Austrian scientist who separated didymium into the elements neodymium and praseodymium in 1885. His work on rare-earth elements led to the development of the ferrocerium “flints” used in modern lighters, the gas
mantle, which brought light to the streets of Europe in the
late 19th century, and the metal-filament light
bulb.
About the Wicheeda
REE Property
The 1,708 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 nearby to
infrastructure, including power transmission lines, the CN railway and major
highways.
Geologically, the property is situated in the
Foreland Belt and within the Rocky Mountain Trench, a major continental
geologic feature. The Foreland Belt contains part of a large alkaline igneous
province, stretching from the Canadian Cordillera to the southwestern United
States, which includes several carbonatite and alkaline intrusive complexes
hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.
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. Mr. Raffle
verified the data disclosed which includes a review of the analytical and test
data underlying the information and opinions contained therein.
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 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 services to be provided
by Welsbach and the expected outcomes including the negotiation and completion
of commercial agreements, plans for its Wicheeda Property, the advancement and
development of the Wicheeda Property, 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. While such
estimates and assumptions are considered reasonable by the management of the Company,
they are inherently subject to significant business, economic, competitive and
regulatory uncertainties and risks. 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)
[2] See Defense Metals News Release
dated September 23, 2020
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