The company has drilled over 5,500 metres in 18 holes this year as part of the Wicheeda resource delineation and pit geotechnical program. The company has released assays for a total of 2,493 metres in seven holes. Assays for the remaining 11 holes totalling 3,017 m are expected in the coming weeks and months.
“With these additional assay results our 2022 drilling continues to yield significant intervals of the high-grade REE dolomite carbonatite lithology,” Defense Metals president Luisa Moreno said in a release. “Recent flotation variability test work has shown this type of mineralization consistently delivers high-grade mineral concentrates greater than 40% TREO, at recoveries in excess of 80%.”
The 2021 preliminary economic assessment (PEA) for Wicheeda project demonstrated an after-tax net present value (8% discount) of C$517 million and an internal rate of return of 18%. A unique advantage of the project is the…
