Defense Metals Releases Comprehensive Pre-Feasibility Study on Wicheeda Rare Earth Element Project

Overview of Defense Metals' Wicheeda Project

Defense Metals Corp. recently announced the filing of an independent Pre-Feasibility Study (PFS) technical report related to its wholly-owned Wicheeda Rare Earth Element Deposit, located near Prince George in British Columbia, Canada. The report, dated February 28, 2025, affirms the deposit's robust potential for both local economic growth and its significance within global supply chains.

Key Insights from the Report

Chief Harley Chingee, representing the McLeod Lake Indian Band, expressed strong support for the project's positive economic implications, emphasizing collaboration with Defense Metals to ensure long-term benefits for the local community. Similarly, BC Minister of Mining and Critical Minerals, Honourable Jagrup Brar, recognized the significance of the Wicheeda project as a potential key player in the global rare earth element market. This dual endorsement from both community leadership and governmental oversight demonstrates a broad consensus on the project's promising outlook.

The Pre-Feasibility Study is prepared in alignment with the Canadian Securities Administrators’ National Instrument 43-101, which sets the standards for mineral project disclosures. The updated report broadens the analysis from focusing solely on four rare earth elements — Neodymium (Nd), Praseodymium (Pr), Dysprosium (Dy), and Terbium (Tb) — to encompass all present elements in the final mixed rare earth carbonate products. This expansion signifies enhanced resource assessment, although the adjustments in mineral resources and reserves, as well as financial forecasts, remain within a minor 3.5% variance compared to the previous disclosures.

Infrastructure and Accessibility

Spanning over 11,800 hectares — approximately 29,158 acres — the Wicheeda Project is strategically located to leverage existing infrastructure, including paved highways, all-weather gravel roads, and proximity to essential services like hydro power lines and gas pipelines. The site is also conveniently accessible to major railway lines and highways leading to vital port facilities in Prince Rupert, facilitating potential export capabilities.

The report is accessible for public review on both SEDAR+ and the company's official website. Stakeholders and interested parties are encouraged to analyze the complete document for detailed insights on the study's methodologies, assumptions, and financial matters, reiterating that summarized sections might not adequately represent the full context.

Leadership Changes

In corporate updates, Defense Metals reported the resignation of Alex Heath from his position as Interim CFO and Senior Vice President of Corporate Development. The company has thanked him for his service and wishes him the best in his future endeavors. Meanwhile, Ryan Cheung, the former CFO, will take over CFO responsibilities until a permanent replacement is appointed.

Conclusion

Defense Metals is poised to advance its Wicheeda Project with strong local and governmental support. As the demand for rare earth elements surges globally, the project is positioned not only to contribute to regional economic development but also to emerge as a significant player in the international market. The comprehensive analysis provided by the Pre-Feasibility Study marks a critical step forward in realizing its potential.

For additional information, stakeholders can visit Defense Metals’ official website or contact the company's management directly.