TSX-V-listed Defense Metals has upgraded the mineral resource estimate (MRE) for the Wicheeda rare earth element (REE) deposit, in British Columbia, demonstrating the required tonnages and grades necessary to carry forward its ongoing prefeasibility study.
The 2023 MRE comprises a 6.4-million-tonne measured mineral resource, averaging 2.86% total rare earth oxide (TREO), a 27.8-million-tonne indicated mineral resource, averaging 1.84% TREO and an 11.1-million-tonne inferred mineral resource, averaging 1.02% TREO.
The total measured and indicated mineral resources comprise 34.2-million tonnes, averaging 2.02% TREO, which is a significant upgrade representing a conversion of 101% of the 2021 MRE.
On a contained metal basis, the new estimate represents a 17% increase in TREO on a contained metal basis, or 31% tonnage increase, when compared with the prior estimate.
“With over 10 000 m of additional drilling completed since our 2021 mineral resource we have now converted 100% of that resource to the measured and indicated categories, in addition to growing the overall resource by 17%,” said Defense Metals CEO Craig Taylor.