Aerial view of Wicheeda project. Image provided by Agentis Capital
Defense Metals (TSXV: DEFN; OTCQB: DFMTF) announced the signing of a non-binding memorandum of understanding dated April 25, 2025, with a major potential strategic partner for entering into a supply agreement representing a significant portion of its planned output. It did not name the potential partner.
Defense Metals is focused on the development of its 11,800-ha (~29,158-acre) Wicheeda rare earth element (REE) property, located on the traditional territory of the McLeod Lake Indian Band in British Columbia.
The Wicheeda REE deposit is estimated to contain over 34 million tonnes of measured and indicated resources grading 2.02% total rare earth oxides (TREOs), for nearly 700,000 tonnes of TREOs.
The project is about 80 km (~50 miles) northeast of the city of Prince George. The company recently completed a preliminary feasibility…
