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Defense Metals Corp.
Summary
| Project: | Wicheeda | |
|---|---|---|
| Deposit: | Wicheeda | |
| Location: | Canada | |
| Commodities: | Rare Earth | |
| Date: | 12/24/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-12-2018: Defense Metals Corp. announces a Resource Estimation report for its Wicheeda deposit at the Wicheeda project. Updated mineral resource estimate at the project and summary of option agreement. The Wicheeda Project is located at Wicheeda Lake ap | |
| Resources: | (Resource, Inf.): 11.370Mt @ 1.96% LREE | |
| CP/QP: | [Resources]: Gary Giroux (Giroux Consultants Ltd.) | |
| ABSTRACT: | The Wicheeda Project is located at Wicheeda Lake approximately 80 km northeast of Prince George and 50 km east of Bear Lake. The Project is situated on BCGS mapsheet 93J.060 and is centred approximately at Latitude 54°31’48”N and Longitude 122°05’12”W. The Project consists of 6 contiguous MTO cell claims that cover approximately 1,708 ha in the Cariboo Mining Division. All of the claims are registered as 100% owned by Spectrum Mining Corp. The claims cover Wicheeda Lake and straddle a segment of Wichcika Creek; the principal area of interest, the Main Zone, is centred 1km south of the lake. Subject to an Option Agreement dated November 22, 2018, Spectrum and its shareholders (collectively the “Vendors”) granted First Legacy an Option to acquire ownership of the Wicheeda Project. In order to exercise the Option and to maintain the Option in good standing, First Legacy is required The Main Zone consists of an ovoid, steeply west-dipping intrusive carbonatite plug that is enriched in rare earth elements (REE). The Project area was explored initially by Teck Exploration Limited in 1986- 1987. Teck made the initial discoveries of REE mineralization, but later allowed its claims to lapse. The ground was subsequently staked by Mr. Chris Graf in 2001, and optioned to Spectrum Mining Corporation in 2008. Spectrum carried out several exploration programs on the Project, including the diamond drilling of three zones 2008-2009. Most of its work was focussed on the Main Zone, on which a mineral resource estimate is presented in this Report. | |
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