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PEA Highlights (November 24, 2021)
Strong Financial Metrics
Significant Production Potential
Mineral Resource Estimate
The Wicheeda Property consists of 6 mineral claims covering an area of 1,708 hectares, located approximately 80 km northeast of the city of Prince George, British Columbia
Favorable mineralogy and lanthanide distribution make Wicheeda a very attractive LREE deposit
Two specific rare earth minerals Monazite and Synchysite/Parasite-Bastnaesite with contained in approximately equal proportions
Ideal opportunity for vertical integration, to support rapidly growing market, reducing reliance on China
2019 Project Milestones
1. See Defense Metals News Release Dated October 23, 2019.
2. The true width of REE mineralization is estimated to be 70-100% of the drilled interval.
3. See Defense Metals News Release Dated December 12, 2019.
May 13, 2020 Defense Metals Completes Updated Resource Estimate for the Wicheeda Project 49% increase in overall tonnage, and 30% increase in overall average grade compared to previous mineral resource
Indicated Resources of 4,890,000 tonnes averaging 3.02% LREO2 (Light Rare Earth Oxide) and, Inferred Resources of 12,100,000 tonnes averaging 2.90% LREO reported at a cut-off grade of 1.5% total metal.3
*The true width of REE mineralization is estimated to be 60%-100% of the drilled interval
1 November 20th, 2019 – Defense Metals Drills 4.21% Light Rare Earth Oxide Over 48 Metres and Extends Mineralized Zone at Wicheeda Rare Earth Element Deposit
2 The technical content of this presentation have been reviewed and approved by Kris Raffle, P.Geo., a Director of the Company and a Qualified Person as defined by National Instrument 43-101.
Wicheeda Plan Deposit View
Strategically positioned alongside a major forestry service road connected to Highway 97
Major hydroelectric power line, major gas pipeline and a Canadian National railway line it the nearby village of Bear Lake
Trained nearby workforce
Prince George is a strategic mining centre