VANCOUVER, BC, Jan. 14,
2025 /CNW/ - Defense Metals Corp.
("Defense Metals" or the "Company"); (TSXV: DEFN)
(OTCQB: DFMTF) (FSE:35D) is pleased to advise that it has added to
the flowsheet of its hydrometallurgical plant a solvent extraction
("SX") circuit in order to remove low-value Cerium ("Ce") and
Lanthanum ("La"). This additional circuit would increase the
Neodymium and Praseodymium ("NdPr") oxide assay of the mixed rare
earth carbonate ("MREC") from 14% on a total rare earth oxide
("TREO") basis to at least 85%.
As a result, the "basket value" of the enhanced MREC would
increase significantly and would be among the highest of any
existing or planned light rare earth production outside of
China. This has been confirmed by
Argus Media which has compared the value of this product basket to
that of all the companies for which they have data.
In addition, the enhanced MREC significantly reduces the
required capacity of the product handling equipment, the mass of
the MREC to be transported, and the mass of separation plant feed
per unit of NdPr oxide. The elimination of La and Ce from the
MREC makes the product far more attractive to downstream processors
than the product which was initially envisaged to be produced.
While this change to the flowsheet will somewhat increase the
capital cost of the project it is believed that the benefits of
this change will far outweigh its costs.
Mr. John Goode, P.Eng., Defense
Metals Consulting Metallurgist said:
"The SX plant has been designed conservatively
using industry standard and proven methods supplemented by bench
scale tests. Hundreds of SX circuits similar to that proposed are
successfully in operation around the world."
Mr. Mark Tory, President and CEO
added:
"I am impressed with the quality of the
metallurgical work which has been done by the company under the
leadership of John Goode who is
recognised worldwide as one of the leading experts in this type of
work."
The pre-feasibility study that, as already announced, is
expected to be released by Defense Metals in Q1, will include the
SX circuit as part of the overall project design.
About Defense Metals Corp. and its Wicheeda Rare Earth
Element Project
Defense Metals Corp. is focused on the development of its 100%
owned, 11,800-hectare (~29,158-acre) Wicheeda rare earth element
("REE") Project that is located on the traditional territory of the
McLeod Lake Indian Band in British
Columbia, Canada.
The Wicheeda REE Project, approximately 80 kilometres (~50
miles) northeast of the city of Prince
George, is readily accessible by a paved highway and
all-weather gravel roads and is close to infrastructure, including
hydro power transmission lines and gas pipelines. The nearby
Canadian National Railway and major highways allow easy access to
the port facilities at Prince
Rupert, the closest major North American port to
Asia.
For further information, please visit www.defensemetals.com
or contact:
Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email: alex@defensemetals.com
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.
Cautionary Statement Regarding "Forward-Looking"
Information
This news release contains "forward‐looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, any statements (expressed or
implied) relating to: advancing the Wicheeda Project, the process
flowsheet and other matters. Forward-looking statements are
typically identified by words such as "plan," "believe," "expect,"
"anticipate," "intend," "outlook," "estimate," "forecast,"
"project," "continue," "could," "may," "might," "possible,"
"potential," "predict," "should," "would" and other similar words
and expressions, but the absence of these words does not mean that
a statement is not forward-looking. All statements in this news
release, other than statements of historical facts, that address
events, contribution or developments that the Company expects to
occur, are forward-looking statements. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in the forward-looking 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 rare earth elements, the anticipated costs
and expenditures, the ability to achieve its 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. Such forward-looking information reflects
the Company's views with respect to future events and is subject to
risks, uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration and
metallurgical results, risks related to the inherent uncertainty of
exploration and development and cost estimates, the potential for
unexpected costs and expenses and those other risks filed under the
Company's profile on SEDAR+ (www.sedarplus.ca). 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. 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,
adverse weather and climate conditions, failure to maintain or
obtain all necessary government permits, approvals and
authorizations, failure to maintain or obtain community acceptance
(including First Nations), risks relating to unanticipated
operational difficulties (including failure of equipment or
processes to operate in accordance with specifications or
expectations, cost escalation, unavailability of personnel,
materials and equipment, government action or delays in the receipt
of government approvals, industrial disturbances or other job
action, and unanticipated events related to health, safety and
environmental matters), risks relating to inaccurate geological,
metallurgical, engineering and pricing assumptions, decrease in the
price of rare earth elements, the impact of viruses and diseases on
the Company's ability to operate, restriction on labour and
international travel and supply chains, loss of key employees,
consultants, officers or directors, increase in costs, delayed
results, litigation, and failure of counterparties to perform their
contractual obligations. The Company does not undertake to update
forward–looking statements or forward–looking information, except
as required by law.
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SOURCE Defense Metals Corp.