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New Estimate Expands BC Rare Earths Project Resource
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Defense Metals' resource update encompasses 49% more tonnage than the initial report.

Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE) announced in a news release it filed the technical report for an updated mineral resource on its Wicheeda rare earth elements (REEs) project in British Columbia.

Now, the resource consists of 4,890,000 tons (4.89 Mt) averaging 3.02% light rare earth oxide (LREO) in the Inferred category and 12.1 Mt averaging 2.9% LREO in the Indicated category, at a cutoff grade of 1.5% light rare earth elements.

As far as changes compared to the initial Wicheeda mineral resource estimate, overall tonnage grew 49% in the update due to the incorporation of 2019 diamond drilling results. Also, the average grade rose by 30%, as the new estimate takes into account previously excluded praseodymium.

The new estimate contains 730,000 more Inferred tons than before along with 4.89 Mt of Indicated resources that were converted from Inferred resources.

The company noted that there remains potential for Wicheeda to be expanded, as it remains open to the north, to the west and downplunge.


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