Defense Metals drills 6% rare earths in BC
Results bolster Wicheeda’s potential as one of Canada’s more advanced and accessible projects pursuing rare earths.
Defense Metals’ Wicheeda rare earths project in British Columbia, Canada, has shown promising results from recent drilling. In hole WI26-96, results indicated 20.3 metres of rare earth oxides (TREO) at 6.1%, while hole WI26-93 yielded 184 metres grading 1.7% TREO. Vice-President of Projects Robin Jones expressed satisfaction that all eleven drill holes intersected significant widths of high to moderate grade rare earth element mineralization.
Wicheeda's potential as an advanced and accessible project for rare earths is further bolstered by its proximity to infrastructure and its road accessibility. The project, with its after-tax net present value of C$1 billion and post-tax internal rate of return of 19%, could produce 31,900 tonnes of TREO concentrates annually. Defense Metals secured $16.7 million through private placements and received conditional approval for a potential C$1.8 million from Natural Resources Canada’s Critical Minerals Infrastructure Fund.
Written by urgent.news from Mining.com's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
