Defense Metals (TSXV: DEFN) says Natural Resources Canada (NRCan) has invited it to submit a full project proposal for its Wicheeda rare earth concentrator and hydrometallurgical feasibility program.
The proposal will go to NRCan’s Critical Minerals Research, Development and Demonstration (CMRDD) and Global Partnerships Initiative (GPI) programs for review.
“While this is not a funding commitment by NRCan, our expression of interest application has been assessed, and we have been invited to submit a full project proposal,” said Mark Tory, Defense Metals’ president and CEO.
The expression of interest covered funding for project advancement that the company said would help address, what it calls, a “strategic gap in Canada’s midstream rare earth processing capacity.”
“This is an important screening and prioritization step that demonstrates the Government of Canada’s potential interest in further supporting the Wicheeda rare earth element project in British Columbia — contingent upon the execution of a contribution agreement,” Tory added.
Located about 80 kilometres from Prince George, B.C., Wicheeda is a 11,800-hectare rare-earth element (REE) deposit. While a mineral resource estimate (MRE) on the property was prepared as part of a 2025 pre-feasibility study (PFS), Defense Metals said it is subject to significant uncertainties, with no certainty its results will be realized.
The full news release is available online.
Comments