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WICHEEDA PROPERTY

100% OWNED
Wicheeda Property Camp
  • Strategically positioned 80 km from Prince George and accessible from a major forestry
    service road, which connects to Highway 97.

  • The 100% owned 6,759-hectare Wicheeda deposit has power transmission lines, a gas
    pipeline and a major rail line nearby.

  • Prince George, British Columbia is a mining centre with a skilled workforce.

  • Port of Prince Rupert is 500km to the west and accessible by rail and road.

2023 Mineral Resource

  • The Wicheeda REE deposit is a southeast-trending, north to northeast dipping syenite-carbonatite intrusive complex having dimensions of approximately 450 m north-south by 250 m east-west which intrudes a mixed sedimentary host rock package (limestone). Relatively high REE grade dolomite-carbonatite rocks, which outcrop at surface, and form the main body of REE mineralization are surrounded by an envelope of intermediate REE grade hybrid xenolithic-carbonatite rocks that intrude lower REE grade syenite.

  • The 2023 MRE comprises a 6.4 million tonne Measured Mineral Resource, averaging 2.86% TREO CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3); 27.8 million tonne Indicated Mineral Indicated Resource, averaging 1.84% TREO; and 11.1 million tonne Inferred Mineral Resource, averaging 1.02% TREO, reported at a cut-off grade of 0.5% TREO within a conceptual Pseudoflow algorithm open pit shell; see Table 1 and Figure 1. 

  • The 2023 MRE is based on an updated geological model incorporating an additional 10,350 metres of drilling within 45 holes drilled by Defense Metals during 2021 and 2022.

Mineral Resource Sept 2023.jpg

Notes for Resource Table:

  • The 2023 MRE is classified according to the CIM “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” dated November 29th, 2019 and CIM “Definition Standards for Mineral Resources and Mineral Reserves” dated May 10th, 2014.

  • The 2023 MRE was prepared by Warren Black, M.Sc., P.Geo. and Tyler Acorn, M.Sc., of APEX Geoscience Ltd under the supervision of the QP, Michael Dufresne, M.Sc., P.Geo. in accordance with CIM Definition Standards.

  • Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.  There has been insufficient exploration to allow for the classification of the indicated and inferred resources tabulated as a measured mineral resource; however, it is reasonably expected that the majority of the indicated and inferred mineral resources could be upgraded to measured or indicated mineral resources with continued exploration. There is no guarantee that any part of the mineral resources discussed herein will be converted to a mineral reserve in the future.

  • All figures are rounded to reflect the relative accuracy of the estimates. Totals may not sum due to rounding. 

  • Median rock densities are supported by 8,075 measurements applied: 2.95 g/cm3 (mineralized dolomite-carbonatite), 2.90 g/cm3 (unmineralized dolomite-carbonatite), 2.85 g/cm3 (mineralized xenolithic-carbonatite), 2.76 g/cm3 (unmineralized xenolithic-carbonatite), 2.73 g/cm3 (syenite), and 2.76 g/cm3 (limestone).

  • The reasonable prospect for eventual economic extraction is met by reporting the Mineral Resources at a cut-off grade of 0.50% TREO (total rare earth oxide, sum of 10 oxides: CeO2, La2O3, Nd2O3, Pr6O11, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3 and Ho2O3), contained within an optimized open pit shell.

  • The cut-off grade is calculated, and the open pit shell is optimized based on the assumption that the hydrometallurgical processing can produce mixed REE carbonate precipitates. The parameters utilized, as in the 2021 MRE, include the following considerations: 

    • TREO price: $18.66/kg

    • Exchange rate of 1.30 C$:US$

    • Precipitate production grades of 81.09% of TREO 

    • Processing costs include $21.47/t of mill feed for flotation plus a variable cost for hydrometallurgical plant that varies based on the feed grade. The average cost of hydrometallurgical plant is assumed to be $1,204/t of concentrate.  

    • Mining cost of C$2.00/t for mill feed and waste

    • G&A Costs of C$3.33/t for mill feed.

    • The overall process recoveries: For TREO>=2.3%, recovery is 69.6%; between 2.3% and 1.5% TREO, recovery is 65.3%; and less than 1.5% TREO, recovery is 52.2%. These assume variable flotation recoveries and a constant 87% hydrometallurgical recovery.

    • Overall pit slope angles vary by zone between 40 and 48 degrees.

SIGNIFICANT ASSAY RESULTS

The 100% owned Wicheeda Property consists of 12 mineral claims covering an area of 6,759 hectares, located approximately 80 km northeast of the city of Prince George, British Columbia.

Favorable mineralogy and lanthanide distribution make Wicheeda a very attractive light-rare-earth (LREE) deposit.

The rare-earth mineral monazite and a group of rare-earth carbonates (bastnaesite-parisite-synchysite) occur in approximately equal proportions. Mineral grains are coarse and well crystalized, which facilitates metallurgical separation and concentration.

Ideal opportunity for vertical integration, to support rapidly growing market, reducing reliance on China.

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Wicheeda Drilling Assay Results
TREO % sum

PROPERTY GEOLOGY

REE-enriched carbonatites of the Wicheeda Deposit are part of an elongate, northwest trending intrusive carbonatite-syenite sill complex. The carbonatite is intruded into syenite, mafic dikes, limestone, and calcareous sedimentary wall rocks. The Wicheeda REE Deposit has dimensions of approximately 400 m north-south by 100-250 m east-west.

Diamond drilling data supports the interpretation of a moderately north-northeast dipping, shallowly north plunging, layered sill complex having syenite at its base. It is overlain by hybrid matrix to clast-supported limestone or mafic intrusive xenolithic carbonatite (fenite), as well as significantly REE-bearing dolomite-carbonatite rocks, which form the main body of the Wicheeda REE Deposit outcropping at surface. This layered sill complex occurs within an unmineralized limestone waste rock.

PROPERTY LOCATION

Strategically positioned along a major forestry service road, which connects to BC Highway 97

A major hydroelectric power line, a major gas pipeline, and a Canadian National Railway line are available nearby

Prince George, British Columbia, a mining centre with a skilled workforce, is 80km to the southeast.

​Port of Prince Rupert is 500km to the west and accessible by rail and road

Wicheeda Property Location
Wicheeda Long Section BM & Pit 2023
Wicheeda Main Zone BM & Pit 2022 Final -high res.JPG
2023 Resoruce Main Zone Section
2023 Resoruce Main Zone Section.JPG
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