Vancouver, British Columbia – February 25, 2019: Defense Metals Corp. (“Defense Metals” or the“Company”) (TSX-V: DEFN / DFMTF: OTCQB / 35D: FSE) is pleased to announce that Phase 1A metallurgical testing on the Wicheeda bulk sample at SGS Labs is underway.
SGS Labs Phase 1A Timeline
Defense Metals Corp has been informed by SGS that the entire 30 tonne bulk sample has been crushed to a nominal 1 inch size and a 400 kg subsample has been taken for batch and grindability tests. Preparation is underway to prepare a grindability sample, flotation charges and head assays, which is expected to be completed early this week. The subsample from the head will be submitted for chemical and mineralogical analysis is also scheduled for early this week as well.
Chris Graf, Technical Advisor comments “Building on the successful bench scale flotation testwork conducted in 2012 by SGS on a 100 kg composite sample of Wicheeda drill core, the goal of the Phase 1A testwork is to develop a robust flow sheet for producing high grade REE flotation concentrates from a 200 kg sample of the 30 tonne Wicheeda REE deposit bulk sample. It is anticipated that 20 kg of REEconcentrate will be produced by Phase 1A.”
Following a successful Phase 1A, Phase 1B hydrometallugical testwork is to commence on the 20 kg sample of flotation concentrate once it has been produced, by the end of May. The goal of this hydrometallurgical testwork will be to produce a purified, mixed REE concentrate and provide data that can be used to design a hydrometallugical pilot plant.
The Phase 1A flow sheet will be used in a Phase 2 flotation concentrate pilot plant program where the entire 30 tonne Wicheeda bulk sample will be processed with the goal of demonstrating that the Phase 1 A flowsheet is capable of producing a high grade REE concentrate at an industrial scale. It is expected that the Phase 2 pilot plant metallurgical testwork will produce approximately 3 tonnes of REE concentrate that can be tested by a Phase 3 hydrometallurgical pilot plant.
About SGS Canada Inc.
By incorporating an integrated approach, SGS delivers testing and expertise throughout the entire mining life cycle. With a network of over 450 commercial, multi-purpose and on-site laboratories globally, SGS is uniquely positioned to provide fit-for-purpose solutions and testing capabilities from early exploration to end-product certification and closure to the mining industry. SGS’ services encompass the skills of qualified geologists and mining professionals to provide accurate and timely mineral evaluation and consulting services in a wide range of commodities including precious and base metals, rare earth element minerals, uranium and naturally occurring radioactive material, industrial minerals, iron ore and hydrocarbons. SGS Minerals Lakefield is an ISO/IEC 17025 and ISO9001:2015 accredited metallurgical testing facility. SGS is independent of Defense Metals Corp.
About The Wicheeda Property
The property located approximately 80 km northwest of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is close to major infrastructure including nearby working power transmission lines, 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 and hosts several carbonatite and alkaline complexes among which are the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) alkaline complexes that contain the highest concentrations of Rare Earth Elements minerals.
The Property is underlain by Kechika Group metasedimentary rocks that are intruded by a southeast- trending carbonatite. The Wicheeda carbonatite is a deformed plug or sill approximately 250 metres in diameter that hosts potentially economic REE mineralization. The intrusion comprises a ferroan dolomite carbonatite core, which passes gradationally outward into calcite carbonatite. The potentially economic REE mineralization is hosted by the dolomite carbonatite.
The scientific and technical information contained in this news release as it relates to the Wicheeda Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, 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, exploration and development of minerals, metals and elements commonly used in the protection of our nation and other nations abroad. Defense Metals Corp. trades under “DEFN” on the TSX Venture Exchange. The Company owns (i) a 100% interest in prospective uranium claims in the Athabasca Basin, Saskatchewan totalling approximately 9,362.65 hectares; (ii) has an option to acquire 100% of the Wicheeda Rare Earth Element Project located in Prince George, British Columbia; and (iii) has an option to acquire 100% of the Lac Burge gold property located approximately 215 km northeast of Val d’Or, Quebec.
Contact Information – For more information, please contact: Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
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.
Forward Looking Information
This news release includes certain statements that constitute “forward-looking information” within the meaning ofapplicable securities law, including without limitation, the Company’s plans for its properties/projects, bulk sample testing and results, metallurgical testing, other statements relating to the technical, financial and business prospects of the Company, and other matters.
Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such 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 metals, anticipated costs and the ability to achieve 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, and that third party contractors, equipment and supplies and governmental andother approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. 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.
Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to gold, copper, uranium, rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company’sexpectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; (x) competition; (xi) the potential for delays in exploration or development activities or the completion of geologicreports or studies; (xii) the uncertainty of profitability based upon the Company’s history of losses; (xiii) risks related to environmental regulation and liability; (xiv) risks associated with failure to maintain community acceptance,agreements and permissions (generally referred to as “social licence”), including local First Nations; (xv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to thecontinued exploration and development of the Company’s projects; (xvi) risks related to the outcome of legal actions;
(xvii) political and regulatory risks associated with mining and exploration; (xix) risks related to current globalfinancial conditions; and (xx) other risks and uncertainties related to the Company’s prospects, properties andbusiness strategy. These risks, as well as others, could cause actual results and events to vary significantly.
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, the loss of key directors, employees, advisors or consultants, adverse weather conditions, increase in costs, equipment failures, litigation, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.