Defense Metals inks strategic agreement with potential partner for Wicheeda REE project

Defense Metals (TSXV: DEFN; OTCQB: DFMTF) announced the signing of a non-binding memorandum of understanding dated April 25, 2025, with a major potential strategic partner for entering into a supply agreement representing a significant portion of its planned output. It did not name the potential partner. Defense Metals is focused on the development of its 11,800-ha (~29,158-acre) Wicheeda rare earth element (REE) property, located on the traditional territory of the McLeod Lake Indian Band in British Columbia.The Wicheeda REE deposit is estimated to contain over 34 million tonnes of measured and indicated resources grading 2.02% total rare earth oxides (TREOs), for nearly 700,000 tonnes of TREOs.The project about 80 km (~50 miles) northeast of the city of Prince George. The company recently completed a preliminary feasibility study that demonstrated the robust economics of the project. “The interest shown by our potential strategic partner reflects growing industry confidence that Wicheeda could indeed become a strategically important source of rare earth elements based on the convincing results of our detailed pre-feasibility study published earlier this month,” Defense Metals CEO Mark Tory said in a news release. “We still have a lot of work to do to turn our project into reality, but this MOU is certainly a major step in the right direction.”Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com