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Tuesday, February 28, 2023

#REE #Stock News-Defense Metals (TSXV: $DEFN.V) (OTCQB: $DFMTF) Reports Favourable Comminution Data for the Wicheeda Deposit; @defensemetals

 


 

#REE #Stock News-Defense Metals (TSXV: $DEFN.V) (OTCQB: $DFMTF) Reports Favourable Comminution Data for the Wicheeda Deposit; @defensemetals 

 

Vancouver, British Columbia – February 28, 2023- Investorideas.com Newswire-Mining/Metals/ Green Energy Stock news-  Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is pleased to report favourable comminution results on multiple samples extracted from the Wicheeda deposit.  The data allows the design of the crushing and grinding plant that will be an integral part of the planned Wicheeda development. These data are essential inputs to the upcoming pre-feasibility study (PFS).

 

Read this news, featuring DEFN in full at https://www.investorideas.com/news/2023/mining/02281DEFN-Wicheeda-Deposit.asp

 

Comminution, i.e., crushing and grinding, will be the first step in the processing of material mined from the Wicheeda deposit.  In the process, coarse, as-mined, rocks are reduced in size to sand-like particles, typically less than 1 mm in size, and suitable for upgrading by flotation or other means. Comminution usually accounts for a significant percentage of the energy demand, production cost and carbon footprint of a mineral processing plant.

 

John Goode, Metallurgy Advisor, stated: “Comminution tests on seventeen variability samples and a Master Composite show that the ore is soft, amenable to conventional grinding operations and has a low abrasion index. The recent results confirm, and expand on data obtained from a 30 t bulk sample taken in 2019.  The data show that a conventional semi-autogenous grinding (SAG) mill-ball mill circuit will work well and that grinding energy and supply costs will be relatively low.”

 

Key Highlights:

Ø  The Wicheeda variability samples and Master Composite were studied using the industry-standard SMC test to determine amenability to, and sizing design parameters for, SAG processing.  The A x b value averaged 97 and the SAG Circuit Specific Energy (SCSE) averaged 7 kWh/t indicating a very soft ore. 

Ø  The Bond rod mill work index test was applied to the Master Composite and returned a value of 10 kWh/t – which again indicates a very soft feed material.

Ø  The Bond ball mill work index test was applied to all samples and resulted in an average of 10 kWh/t using a 65-mesh closing screen.  This again indicates a very soft feed material.

Ø  A standard Bond abrasion test was performed on the Master Composite and returned a value of 0.059 g meaning a very low consumption of grinding balls and mill liners is anticipated.

Ø  The Bond ball mill work index and abrasion index data for these new samples are very similar to the values obtained on the 2019 bulk sample taken from the Wicheeda deposit giving additional confidence in the new data.  Comminution data for the 2019 bulk sample were used during preparation of the 2021 Independent Preliminary Economic Assessment1.

 

Methodology

Seventeen variability samples and a Master Composite were made from drill core taken from the Wicheeda deposit. The variability samples covered different lithologies, depths, areas and grades of the deposit.  The Master Composite had a mass of 260 kg and included all lithologies in the approximate ratios of their mass in the deposit.

SGS Lakefield performed all of the comminution tests. The SMC testing protocol is an industry-standard method of evaluating the amenability of material to grinding in a semi-autogenous grinding (SAG) mill.  The Bond rod and ball mill indices and abrasion index are also industry-standard tests performed on crushed ore and are essential to the accurate sizing of a grinding circuit.

The comminution data will be used, along with other information, during the upcoming pre-feasibility study (PFS) to design the comminution circuit for the Wicheeda project.

 

PDAC Convention, Toronto, March 5 - 8, 2023

The Company is also pleased to announce that it will be attending this year’s Prospector’s and Developer’s Annual Convention (PDAC) in Toronto, Ontario, Canada from Sunday, March 5 to Wednesday, March 8, 2023.

 

The Company’s management team, members of the Board of Directors and technical advisors will be available during the convention (www.pdac.ca/convention) and invite you to drop by Booth #2500 in the Investors Exchange in the Metro Toronto Convention Centre from March 5 - 7, 2023, 10 a.m. to 5 p.m. and March 8, 2023, 9 a.m. to 12 p.m. to discuss the Company’s latest activities and plans for 2023 and onward.

 

In addition, we invite you to attend the following presentation at PDAC, which includes Kris Raffle, P.Geo, a director of the Company, presenting on behalf of Defense Metals at 2:14 p.m.: Electric materials / Rare earth elements (REE), Room 801B - MTCC Level 800.

 

Qualified Person

The scientific and technical information contained in this news release, as it relates to the Wicheeda Rare-Earth Project, has been reviewed and approved by John Goode, P. Eng., who is a Qualified Person as defined by National Instrument 43-101 and who has provided the technical information relating to metallurgy in this news release.

 

About the Wicheeda REE Property

Defense Metals 100% owned, 4,262-hectare (~10,532-acre) Wicheeda REE property is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. The Wicheeda REE Project is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

 

The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report (“PEA”) outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR[1]. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio providing a 1.8 Mtpa (“million tonnes per year”) mill throughput producing an average of 25,423 tonnes REO annually over a 16 year mine life. 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.

 

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 markets, 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 Deposit 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 “forwardlooking information or statements within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, completion of the PFS, attending PDAC, the Company’s plans for its Wicheeda REE Project, expected results and outcomes from the comminution data, 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 anticipated costs and expenditures, 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 the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.comWhile 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 and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, 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, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forwardlooking statements or forwardlooking information, except as required by law.

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure   this  DEFN news is a paid news release on investorideas.com – learn more about costs and services https://www.investorideas.com/News-Upload/

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[1] Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).

 

Wednesday, February 22, 2023

#RareEarth #Stock Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) reports construction of Hydrometallurgical Pilot Plant with commissioning at SGS Lakefield to start Mid- March; @defensemetals

#RareEarth #Stock Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) reports construction of Hydrometallurgical Pilot Plant with commissioning at SGS Lakefield to start Mid- March; @defensemetals 

 

Vancouver, British Columbia – February 22, 2023Investorideas.com Newswire, - Mining/Metals/ Green Energy Stock news-  Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is pleased to announce that construction of the hydrometallurgical pilot plant has started and commissioning is scheduled to start in the second half of March. 

 

Read this news, featuring DEFN in full at https://www.investorideas.com/news/2023/mining/02221Defense-Metals-Hydrometallurgical-Pilot-Plant.asp

 

 

Craig Taylor, CEO of Defense Metals, stated:

“We are excited to enter this important milestone of building and running the hydrometallurgical pilot plant, which is scheduled to be commissioned in late March.  Pilot operations will be done in two segments and should be completed by the end of April. A successful pilot plant program will be essential for the completion of the engineering design and economics of the planned pre-feasibility study.”

 

Following the successful completion of laboratory flotation and acid bake tests from December 2021 to date, Defense Metals is now ready to build a hydrometallurgical pilot plant. It is important to note that the Independent Preliminary Economic Assessment1 was based on a different hydrometallurgy flowsheet, the gangue-leach – caustic-crack process (see the Company’s March 31, 2022 news release).  However, after numerous laboratory tests the Company decided to pursue piloting of the less complex acid bake process, which has, in initial test-work, yielded better recovery rates, is an industry standard, and has the potential for improved economics.

 

The objective of the pilot plant is to demonstrate at a larger scale, and with continuous operation, the processing of Wicheeda flotation concentrate to produce rare earths using the acid bake flowsheet, to help confirm the quality of the project, and to gather data required for the pre-feasibility study.

 

The pilot plant will be configured to produce a high-purity rare earth precipitate suitable as feed for a separation plant. Samples produced from the pilot plant will also be shared with potential end-users for product development and qualification.

 

Methodology

The plant is being built at SGS Lakefield, Ontario and will run in two segments for approximately two weeks. The feed for the plant will total approximately 600 kg of mineral concentrate that was generated from a flotation pilot plant operated on a bulk sample from the Wicheeda deposit.

 

Qualified Person

The scientific and technical information contained in this news release, as it relates to the Wicheeda Rare-Earth Project, has been reviewed and approved by John Goode, P. Eng., a metallurgical consultant to the Company, and who is a Qualified Person as defined by National Instrument 43-101 and who has provided the technical information relating to metallurgy in this news release. Kristopher J. Raffle, P.Geo. (BC), a director of the Company, is the Qualified Person as defined in National Instrument 43-101 for the information relating to resources in this news release.

 

 

About the Wicheeda REE Property

Defense Metals 100% owned, 4,262-hectare (~10,532-acre) Wicheeda REE property is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. The Wicheeda REE Project is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report ("PEA") outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR[1]. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio providing a 1.8 Mtpa ("million tonnes per year") mill throughput producing an average of 25,423 tonnes REO annually over a 16 year mine life. 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.

 

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 markets, 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 Deposit 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 “forwardlooking information or statements within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, starting and completing the hydrometallurgical pilot plant including anticipated timeline and expected results and outcomes, the Company’s plans for its Wicheeda REE Project, expected results and outcomes, completion of the PFS, 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 anticipated costs and expenditures, 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 the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.comWhile 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 and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, 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, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forwardlooking statements or forwardlooking information, except as required by law.

 

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure: this  DEFN news is a paid news release on investorideas.com – learn more about costs and services https://www.investorideas.com/News-Upload/  More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp 

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[1] Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).

 

#Solar #Stock Solar Integrated Roofing (OTC: $SIRC) to grow Finance Division to service #residentialsolar, #commercialsolar, #roofing and #EV projects for contractors; @SIRCStock

#Solar #Stock Solar Integrated Roofing (OTC: $SIRC) to grow Finance Division to service #residentialsolar, #commercialsolar, #roofing and #EV projects for contractors; @SIRCStock

 

HENDERSON, NV, February 22, 2023 -- Breaking Solar stock news from Investorideas.com  - Solar Integrated Roofing Corp. (OTC: SIRC), an integrated, single-source solutions provider of solar power, roofing and EV charging systems, today announced that it will grow its Finance Division launching new offerings to service contractors & customers within the alternative energy and roofing spaces.

 

Read this news, featuring SIRC at https://www.investorideas.com/news/2023/renewable-energy/02221SIRC-Finance-Division.asp

 

This March, SIRC will expand its finance solutions to all residential solar, commercial solar, roofing, and EV projects for contractors and internal & external customers throughout the country.

 

The financial offerings SIRC will provide include:

• Residential solar finance solutions with competitive rates and low dealer fees.

• Residential PPA (power purchase agreement) that allows homeowners with little, no, or poor credit to qualify for solar on their homes.

• Commercial “no credit” required PPAs for nonprofits.

• Financing for commercial alternative energy projects, some with no money required out of pocket.

• Stand-alone finance solutions for all roof and home efficiency projects.

• Equipment leasing and finance solutions for EV.

 

The financial services divisions growth complements SIRC’s expansive list of services and displays continued evolution of SIRC’s strategy to be one of the most dynamic alternative energy companies in the country.

 

SIRC anticipates the financial services division may generate over $2 million in profits over the first 12-14 months, with millions more in project originations resulting from the enhanced finance products now available. The revenue and profit opportunity for SIRCs financial services division is expected to scale exponentially beyond the first year.

 

Says SIRC CEO Dave Massey, “For SIRC, our objective is to be the premier all-inclusive alternative energy solution in the market. The growth of SIRC Finance is another step in that direction and should bring us much closer to cash flow positive. This helps us achieve our goals and is a very important piece of our plan for the current strategic acquisition targets that we have on the books. We are excited for how this should enable everything to come together quickly to yield results to SIRC’s bottom line that will benefit all our shareholders and constituents.”

 

"About Solar Integrated Roofing Corp.

Solar Integrated Roofing Corp. (OTC: SIRC) is an integrated, single-source solutions provider of solar power, roofing and EV charging systems, specializing in commercial and residential properties throughout North America. The Company serves communities by delivering the best experience through constant innovation & legacy-focused leadership. For more information, please visit the Company's website at www.solarintegratedroofing.com or join us on Twitter or LinkedIn.

 

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as: “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “will” and similar references to future periods. Examples of forward-looking statements in this press include, among others, statements about our renegotiated settlement agreement. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our limited operating history; our dependence on third parties for many aspects of our business; general market and economic conditions; technical factors; the availability of outside capital; our receipt of revenues; legislative developments; changes in our expenditures and other uses of cash; our ability to find, recruit and retain personnel in sufficient numbers to support our growth; our ability to manage growth; and general market, economic and business conditions. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Registration Statement on Form 10 or Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.

 

Investor Relations Contact:
Michael Kim or Brooks Hamilton
MZ North America
+1 (949) 546-6326
SIRC@mzgroup.us
www.mzgroup.us

 

 

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Tuesday, February 21, 2023

#REE #Stock News- Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) starts construction of Hydrometallurgical Pilot Plant with commissioning at SGS Lakefield scheduled for March 2023; @defensemetals

 

#REE #Stock News- Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) starts construction of Hydrometallurgical Pilot Plant with commissioning at SGS Lakefield scheduled for March 2023; @defensemetals  

 


Vancouver, British Columbia – February 21, 2023: Investorideas.com Newswire, - Mining/Metals/ Green Energy Stock news-  Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is pleased to announce that construction of the hydrometallurgical pilot plant has started and commissioning is scheduled to start in the second half of March.  

 

Read this news, featuring DEFN in full at https://www.investorideas.com/news/2023/mining/02215DEFN-Hydrometallurgical-Pilot-Plant.asp

 

 

Craig Taylor, CEO of Defense Metals, stated:

“We are excited to enter this important milestone of building and running the hydrometallurgical pilot plant, which is scheduled to be commissioned in late March.  Pilot operations will be done in two segments and should be completed by the end of April. A successful pilot plant program will be essential for the completion of the engineering design and economics of the planned pre-feasibility study.”

 

Following the successful completion of laboratory flotation and acid bake tests from December 2021 to date, Defense Metals is now ready to build a hydrometallurgical pilot plant. It is important to note that the Independent Preliminary Economic Assessment1 was based on a different hydrometallurgy flowsheet, the gangue-leach – caustic-crack process (see the Company’s March 31, 2022 news release).  However, after numerous laboratory tests the Company decided to pursue piloting of the less complex acid bake process, which has, in initial test-work, yielded better recovery rates, is an industry standard, and has the potential for improved economics.

 

The objective of the pilot plant is to demonstrate at a larger scale, and with continuous operation, the processing of Wicheeda flotation concentrate to produce rare earths using the acid bake flowsheet, to help confirm the quality of the project, and to gather data required for the pre-feasibility study.

 

The pilot plant will be configured to produce a high-purity rare earth precipitate suitable as feed for a separation plant. Samples produced from the pilot plant will also be shared with potential end-users for product development and qualification.

 

Methodology

The plant is being built at SGS Lakefield, Ontario and will run in two segments for approximately two weeks. The feed for the plant will total approximately 600 kg of mineral concentrate that was generated from a flotation pilot plant operated on a bulk sample from the Wicheeda deposit.

 

Qualified Person

The scientific and technical information contained in this news release, as it relates to the Wicheeda Rare-Earth Project, has been reviewed and approved by John Goode, P. Eng., a metallurgical consultant to the Company, and who is a Qualified Person as defined by National Instrument 43-101 and who has provided the technical information relating to metallurgy in this news release. Kristopher J. Raffle, P.Geo. (BC), a director of the Company, is the Qualified Person as defined in National Instrument 43-101 for the information relating to resources in this news release.

 

 

About the Wicheeda REE Property

Defense Metals 100% owned, 4,262-hectare (~10,532-acre) Wicheeda REE property is located approximately 80 km northeast of the city of Prince George, British Columbia; population 77,000. The Wicheeda REE Project is readily accessible by all-weather gravel roads and is near infrastructure, including hydro power transmission lines and gas pipelines. The nearby Canadian National Railway and major highways allow easy access to the port facilities at Prince Rupert, the closest major North American port to Asia.

The 2021 Wicheeda REE Project Preliminary Economic Assessment technical report ("PEA") outlined a robust after-tax net present value (NPV@8%) of $517 million and an 18% IRR[1]. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio providing a 1.8 Mtpa ("million tonnes per year") mill throughput producing an average of 25,423 tonnes REO annually over a 16 year mine life. 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.

 

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 markets, 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 Deposit 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 “forwardlooking information or statements within the meaning of applicable securities laws, which may include, without limitation, statements relating to advancing the Wicheeda REE Project, starting and completing the hydrometallurgical pilot plant including anticipated timeline and expected results and outcomes, the Company’s plans for its Wicheeda REE Project, expected results and outcomes, completion of the PFS, 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 anticipated costs and expenditures, 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 the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.comWhile 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 and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations),  risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical and engineering assumptions, 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, an inability to predict and counteract the effects of COVID-19 on the business of the Company, including but not limited to, the effects of COVID-19 on the price of commodities, capital market conditions, restriction on labour and international travel and supply chains, loss of key employees, consultants, or directors, increase in costs, delayed results, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forwardlooking statements or forwardlooking information, except as required by law.

 

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[1] Independent Preliminary Economic Assessment for the Wicheeda Rare Earth Element Project, British Columbia, Canada, dated January 6, 2022, with an effective date of November 7, 2021, and prepared by SRK Consulting (Canada) Inc. is filed under Defense Metals Corp.’s Issuer Profile on SEDAR (www.sedar.com).