|Delayed - 01/20 03:59:59 pm|
DEFENSE METALS : INITIATES PRE-PILOT HYDROMETALLURGICAL OPTIMIZATION FOR ITS RARE EARTH ELEMENTS PROJECT
|11/24/2020 | 10:13am|
Bench-scale hydrometallurgical test work finalized earlier this year and designed to inform operation of a large-scale hydrometallurgical pilot-plant, yielded 90% TREE (Total REE) recovery from concentrate into a chloride-based leach solution, and production of a high-grade 67.5% TREE mixed hydroxide precipitate.
The recently commissioned fill-in test work will have the following objectives: Increase overall REE extraction into high purity final REE precipitate.
Examine impact of recycling certain process streams on metallurgical performance.
Prepare for the operation of a hydrometallurgical pilot plant.
The Wicheeda REE project has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO.
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Cautionary Statement Regarding 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 the Company's plans for its Wicheeda project, use of funds, completion of PEA, completion of fill-in test work and expected results therefrom, 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 or obtain 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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