Defense Metals (TSXV: DEFN; OTCQB: DFMTF) released the results of its independent pre-feasibility study (PFS) concerning the on-going development of its Wicheeda rare earth element (REE) deposit in British Columbia. The pre-feasibility study reveals the following about the project: Robust economics, the presence of a high-grade REE mineral deposit advantage, a high-grade mineral concentrate advantage, and a high-value saleable mixed rare earth carbonate product.
Guy de Selliers, executive chairman, stated: "The positive results of our pre-feasibility study confirm the strategic importance of the Wicheeda Project at a time when North America and Europe are prioritizing economic resilience and supply chain security for critical minerals.”
De Selliers added, "With NdPr being essential to electric vehicles, renewable energy, and advanced defense technologies, the Wicheeda Project represents a unique opportunity to establish a reliable, Western-aligned supply of these vital materials, reducing reliance on foreign sources and importantly helping to secure economic security. Our Wicheeda rare earth project is one of the most advanced in either North America or Europe that is not yet in production, positioning it as a leading, near-term solution to meet the growing demands for Western-aligned supply chains.”
Defense Metals stated it has taken a focused and conservative approach to all costs and inputs to deliver a realistic and compelling PFS that it believes maximizes the scope and scale of its Wicheeda project over the long term.
The PFS incorporates an initial proven and probable mineral reserve estimate that supports a 15-year, open-pit mining operation (excluding pre-production) that will produce ore feed for a 5,000 tpd flotation plant. The flotation plant will produce a high-grade REE mineral concentrate that will feed hydrometallurgical and SX process facilities to produce a value-added MREC product. More information is posted on www.DefenseMetals.com
February 21, 2025
February 20, 2025
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