Sector alert for Rare Earth Metals From Investorideas.com Newswire Featuring Defense Metals Corp. (TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D)
Defense Metals Corp. (TSX:DEFN.V)
VANCOUVER, BRITISH COLUMBIA, CANADA, February 19, 2021 /EINPresswire.com/ — Sector alert for Rare Earth Metals From Investorideas.com Newswire – Recent headlines: Biden to order review of U.S. reliance on overseas supply chains for semiconductors, rare earths , Defense Metals Corp. (TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D). Pre-Pilot Hydrometallurgy Testing Yields 97.3% Rare Earth Element Extraction
Biden to order review of U.S. reliance on overseas supply chains for semiconductors, rare earths
President Joe Biden will direct his administration to conduct a review of key U.S. supply chains, including those for semiconductors, high-capacity batteries and rare earth metals.
The White House plans to review gaps in domestic manufacturing and supply chains that are dominated by or run through “nations that are or are likely to become unfriendly or unstable.”
Though the order does not mention China, the directive is likely in large part an effort by the administration to determine how reliant the U.S. economy and military are on Chinese exports
Recent Defense Metals Corp. (TSX-V: DEFN / OTCQB: DFMTF / FSE: 35D). News
Defense Metals (TSX-V: $DEFN.V) ( OTCQB: $DFMTF) Pre-Pilot Hydrometallurgy Testing Yields 97.3% Rare Earth Element Extraction From Wicheeda Flotation Concentrate
Highlights of the additional infill hydrometallurgical test results conducted at SGS Canada Inc. (“SGS”) Lakefield Site are as follows:
• Increased REE extraction from 91.5% to 97.3% from flotation concentrate (~75% from bulk sample feed) into a chloride-based leach solution compared to initial testing3 (CC-21, Table 1)
• Decreased REE losses via milder gangue leach compared to the base-case flowsheet
• Simplification of flowsheet by removing re-grind step and reducing caustic dosage on re-crack (CC-20) yielded comparable REE extraction of 95.8% from flotation concentrate (~74% from bulk sample feed)
Craig Taylor, CEO of Defense Metals, stated: “Our decision to conduct additional infill hydrometallurgical test-work has yielded significant REE recovery gains approaching 100% REE extraction from the flotation concentrate. Perhaps more importantly, this additional testing has advanced the Wicheeda REE separation flowsheet such that we able to “tune” process variables (chiefly: grind size, acid, and caustic concentrations) to achieve a balance of minimizing REE leach losses and maximizing impurity removal. This level of process control will de-risk our planned hydrometallurgical pilot plant and contribute to greater flexibility in design of a future commercial-scale hydrometallurgical plant.”
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About Defense Metals Corp. https://defensemetals.com/
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. Defense Metals Corp. trades in Canada under the symbol “DEFN” on the TSX Venture Exchange, in the United States, under “DFMTF” on the OTCQB and in Germany on the Frankfurt Exchange under “35D”.
For further information, please contact:
Todd Hanas, Bluesky Corporate Communications Ltd.
Vice President, Investor Relations
Tel: (778) 994 8072
Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements relating to finding partnerships, securing potential offtake agreements, and other business opportunities, the technical, financial and business prospects of the Company, its project and other matters. All statements in this news release, other than statements of historical facts, that address events 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 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 those filed under the Company’s profile on SEDAR at www.sedar.com. 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 conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate increase in costs, 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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