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Defense Metals Corp
Symbol DEFN
Shares Issued 183,374,601
Close 2022-06-07 C$ 0.225
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Defense Metals begins drilling at Wicheeda

2022-06-07 15:02 ET - News Release

Mr. Todd Hanas reports

DEFENSE METALS COMMENCES 2022 WICHEEDA RARE EARTH ELEMENT DEPOSIT PIT SLOPE GEOTECHNICAL, RESOURCE DELINEATION AND EXPLORATION

Defense Metals Corp. has commenced diamond drilling at its Wicheeda rare earth element (REE) deposit. The company plans to complete up to 5,000 metres of diamond drilling designed to further delineate existing resources, assess near-deposit exploration targets, collect geotechnical and hydrogeological drilling for the purpose of optimization of open-pit slope design, and generate additional REE mineralized material for continued metallurgical test work.

The 2022 Wicheeda REE diamond drill campaign is expected to include up to 1,500 metres of pit geotechnical and hydrogeological drilling, 1,500 metres of further resource delineation and near-resource exploration drilling, and up to 2,000 metres of 8.5-centimetre diameter PQ core for continued metallurgical testing.

The 2022 drill program has commenced from existing drill pads prepared during 2021 in the northern area of the Wicheeda REE deposit that returned some of the highest grade-by-width intercepts of the 2021 drilling. Drill holes WI21-33 and WI21-40 yielded 3.79 per cent TREO (total rare earth oxide) over 150 metres, including 4.77 per cent TREO over 60 metres that extend 80 metres beyond the current mineral resource and 40 metres beyond the constraining pit shell. This higher-grade interval includes 12 metres averaging 8.06 per cent TREO from 84 to 96 metres downhole, which contained the highest single (three metres) combined neodymium-praseodymium (Nd-Pr) oxide assay value to date on the Wicheeda project of 1.41 per cent Nd-Pr oxide at 10 per cent TREO.

North area drilling will be followed by near-resource exploration drilling immediately west of the Wicheeda deposit targeting combined REE in soil geochemical and radiometric anomalies in the vicinity of historical 2009 exploration holes that revealed visual indication of potential REE mineralization when recently reviewed by the Defense Metals technical team.

As previously announced, the company has retained SRK Consulting (Canada) Inc. to assist with planning and executing geotechnical drilling investigations. Senior SRK engineering staff are expected to conduct a two-day field site visit to Wicheeda to conduct bedrock and structural mapping, view drill core, and establish geotechnical data collection protocols, testing and instrumentation installation procedures.

Luisa Moreno, president and director of Defense Metals, commented: "Defense Meal is excited to once again get back to drilling at Wicheeda. Given the success of last year's 5,349-metre diamond drill program, we look forward to continuing to define the Wicheeda deposit, in particular the high-grade north area, testing near-resource exploration targets and commencing our prefeasibility-level geotechnical studies. As announced last week, metallurgical optimizations continue at pace at the SGS Lakefield site and we look forward to releasing results of that test work as information becomes available."

Qualified person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE project has been reviewed and approved by Kristopher J. Raffle, PGeo, principal and consultant of Apex Geoscience Ltd. of Edmonton, Alta., a director of Defense Metals and a qualified person as defined in NI 43-101. Mr. Raffle verified the data disclosed which include a review of the sampling, analytical and test data underlying the information and opinions contained therein.

About Defense Metals Corp

Defense Metals 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 market, defence industry and 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.

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