Defense Metals Corp. (TSX-V: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce that the Government of Saskatchewan announced $31 million in funding for a Rare Earth Element Processing Facility in Saskatchewan. The facility will be owned and operated by the Saskatchewan Research Council.
The conversion of REE ore to individual REE products is done in two main stages. The first is the concentration of ore to mixed REE Carbonate. The second is the more complex separation stage that converts the mixed REE Carbonate to commercial pure-grade REEs. The facility in Saskatchewan will address both stages of REE processing. The Saskatchewan Government also stated that the global demand for REEs will increase significantly in the coming decade.
Craig Taylor, CEO of Defense Metals commented that “as we continue to advance our Wicheeda Rare Earth Element Property, access to specialized rare earth processing facilities in safe and friendly jurisdictions will be of critical importance. Outside of China, the rest of the world is rapidly working to secure access to REE concentrate and processing facilities. Given that the Wicheeda deposit is located in Canada gives us a strategic advantage as we continue to have discussions with various parties about this deposit.”
About the Wicheeda REE Property
The 1,708 hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN 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, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.
The scientific and technical information contained in this news release as it relates to the Wicheeda REE Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.
About Defense Metals Corp.
Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of “GREEN” energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada.
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We acknowledge the [financial] support of the Government of Canada.