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Yahoo
04-03-2025
- Business
- Yahoo
Defense Metals secures funding for Wicheeda rare earth project in Canada
Defense Metals has secured up to C$853,825 ($591,176) from Natural Resources Canada's Critical Minerals Infrastructure Fund. This funding is aimed at supporting the advancement of infrastructure for the Wicheeda Rare Earth Element deposit north-east of Prince George, British Columbia. The project is expected to enhance the supply of critical rare earth elements (REEs) in North America. The funding will be used for an economic study to evaluate the construction of a 46km transmission line connecting Wicheeda to the provincial hydroelectric power grid. Minister of Energy and Natural Resources Canada Jonathan Wilkinson said: 'Developing Canada's abundant critical minerals drives economic opportunity and creates hundreds of high-paying jobs. The funding provided to Defense Metals for its Wicheeda Rare Earth Element Project will help advance the development of the necessary infrastructure to expand British Columbia's sustainable critical minerals production.' The proposed transmission line will ensure a reliable and sustainable power supply for the project and reduce reliance on alternative energy sources. The study will encompass powerline engineering, environmental studies, archaeological assessments and indigenous engagement. This initiative builds on the recently completed pre-feasibility study (PFS), which confirmed the Wicheeda Project's economic viability. Defense Metals CEO Mark Tory said: 'We are very grateful for this important endorsement from Natural Resources Canada and its Critical Minerals Infrastructure Fund. This funding is the first step to advancing crucial infrastructure for the Wicheeda Project, the only rare earth project in Canada with current proven and probable reserves. 'As North America's most advanced rare earth developer, we are bridging the critical minerals supply gap by positioning Wicheeda as a key future supplier of these essential rare earth materials.' Defense Metals and MLIB, an equity partner in the project, have a co-design agreement, integrating indigenous perspectives into the project assessment and development. In September 2024, Defense Metals signed a memorandum of understanding with the Saskatchewan Research Council to strengthen the REEs supply chain in Canada. "Defense Metals secures funding for Wicheeda rare earth project in Canada" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
24-02-2025
- Business
- Yahoo
Neotech Metals Corp. Drills 86 Meters of 1.06% TREO from Bedrock Surface Approximately 300 Meters from the Pike Zone Mineralized Corridor in Its Inaugural Drill Program at Hecla-Kilmer
Vancouver, British Columbia--(Newsfile Corp. - February 24, 2025) - Neotech Metals Corp. (CSE: NTMC) (OTCQB: NTMFF) (FSE: V690) ("Neotech" or "the Company") is pleased to announce preliminary geochemical assay results from its exploratory diamond drilling program of the Niobium and Rare Earth Element ("REE") carbonatites located at the Hecla-Kilmer ("H/K") Project near Otter Rapids in the James Bay Lowlands of Northern, Ontario. A total of 12 new drill holes (of which 11 are still to be reported) were completed in 2024 by Neotech to supplement the 24 legacy drillholes completed by VR Resources ("VR") in previous exploration campaigns. The 2024 drillholes (see Map Figure 1) were designed to test for intervals of Total Rare Earth Oxide ("TREO") and Niobium Oxide ("Nb2O5") within the alkaline intrusive carbonatite complex, targeting 3 primary areas identified through historical magnetic and gravity surveys. Target areas include the Pike Zone (7 drill holes, 3061 meters), Northeast Zone (3 holes, 1281 meters), and South Rim Zone (2 holes, 698 meters). Drill hole locations and assays reported in the press release are shown on Map 1. Hole HK24-034, located approximately 300m south of the Pike Zone region, have confirmed the presence of multiple mineralized intervals that contain elevated levels of niobium and/or rare earth elements. These intervals are coincident with altered and/or mineralized intervals that were identified visually by Neotech core loggers in the field. The results for this hole include: Highlights from HK24-034 From (m) To (m) Interval (m) TREO* (%) PMREO** (%) 44 130 86 1.06 0.18 184 208 24 0.64 0.12 Sample analysis and data compilation remains ongoing, and any additional mineralized intervals identified in the remaining drill holes will be reported in subsequent news releases. "The discovery of bedrock-surface mineralization near the Pike Zone presents significant opportunities for the Hecla-Kilmer Project," stated CEO Reagan Glazier. "The strong PMREO values in HK24-034 are consistent with previous intercepts and highlight a clear path to enhancing the project's overall value." Map Figure 1 - Drill Map of Hecla-Kilmer's Pike Zone from 2024 Drill Season To view an enhanced version of this graphic, please visit: Methodology and Quality Assurance/Quality Control ("QA/QC") Drillholes were drilled at various inclined angles with the assay intervals as total core widths. The material produced from the diamond drillholes was sampled at two metre intervals with the core split in half, resulting in average sample sizes of 2-4 kg. Half of the core is sent to the analytical laboratory, and the other half is kept in storage as required by industry standards and by Ontario provincial regulations. The original core was logged, photographed, and sampled on location by Neotech personnel. The bagged and catalogued samples were delivered to Activation Laboratories Ltd. ("Actlabs") in Timmins, Ontario, for initial preparation and final analysis. All sample preparation and analytical work referenced in this report were conducted by Actlabs, an independent geoanalytical laboratory accredited to ISO-IEC 17025:2017 and ISO 9001:2015 standards. In addition to Actlabs' internal QA/QC protocols, Neotech Metals incorporated its own control samples in each batch submitted for analysis. Quality control samples, including blanks, duplicates, and standards (Certified Reference Materials) were inserted into the sample series at set intervals. For all analysis methods, the minimum number of QA/QC samples was two CRM standards per hole, one duplicate and/or one blank for every 10 samples taken, for a total of 10% QA/QC samples for the entire dataset. The procedures were implemented during the sample collection, preparation and analytical stages to ensure the robustness and reliability of the analytical results. QA/QC data was also verified by an independent third party to ensure the validity of the datasets. All analytical results reported herein have passed internal QA/QC review and compilation. All assay results of drill core samples were provided by Actlabs, a Certified Laboratory, which performed their measure of the concentration of rare earth elements (REE) with the analytical method that uses lithium borate fusion prior to the second stage sodium peroxide fusion and Inductively Coupled Plasma Mass Spectrometry (ICP-MS). Major Element Oxides were done using the lithium borate analytical method and Inductively Coupled Plasma Optical Emission Spectroscopy (ICP-OES). Upcoming 2025 Exploration Season Neotech is currently developing plans for an expansion/resource-definition drilling program and preliminary mineralogical-metallurgical test work on the diamond drill core from this program. Ongoing geological modelling and targeting will continue as the Company receives additional assays. ON BEHALF OF THE BOARDReagan Glazier, Chief Executive Officer and DirectorNeotech Metals Corp. About the Neotech Metals Neotech Metals Corp. is a mineral exploration company dedicated to discovering and developing valuable mineral resources within promising jurisdictions around the world. With a strong commitment to environmental stewardship and sustainable practices, Neotech is positioned to make a positive impact while maximizing the potential of its exploration properties. The company has a diversified portfolio of Rare-Earth Element and Rare Metals projects, including the Hecla-Kilmer, located 20 km from the Otter Rapids 180MW hydroelectric power generation station and active Ontario Northway railway, along with its TREO and Foothills projects located in British Columbia. All three projects are 100% wholly-owned. Qualified Person Technical Information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Jared Galenzoski VP Exploration, and Qualified Person, has reviewed and approved all of the data and statements made for this news release. Contact Information Reagan Glazier, CEO and Directorreagan@ 403-815-6663 *TREO (Total Rare-Earth Oxides) has been used to express the results in the press release. TREO is calculated by converting the elemental ppm to Rare-Earth Oxides using a conversion factor and is the summation of CeO2 + La2O3 + Pr6O11 + Nd2O3 + Sm2O3 + Eu2O3 + Gd2O3 + Tb4O7 + Dy2O3 + Ho2O3 + Er2O3 + Tm2O3 + Yb2O3 + Lu2O3 + Y2O3. **PMREO (Permanent Magnet Rare-Earth Oxides) has been used to express the results in the press release. TREO is calculated by converting the elemental ppm to Rare-Earth Oxides using a conversion factor and is the summation of Pr6O11 + Nd2O3 + Tb4O7 + Dy2O3 Forward-Looking Statements Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "will be" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are from those expressed or implied by such forward-looking statements or forward-looking information subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different, including receipt of all necessary regulatory approvals. Although management of the Company have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. The CSE has not reviewed, approved, or disapproved the contents of this press release. To view the source version of this press release, please visit Sign in to access your portfolio
