Defense Metals Announces Pilot-Scale Flotation Test Program for Wicheeda Rare Earth Project
MWN-AI** Summary
Defense Metals Corp. has announced the initiation of a pilot-scale flotation test program for its Wicheeda Rare Earth Project, located near Prince George, British Columbia. Appointing SGS Canada Inc. for this task, the program will involve a comprehensive analysis of two newly-prepared drill core composite samples representing the first six years of operations. This initiative aims to advance the process flowsheet development crucial for future engineering studies related to the project.
The flotation testing program is set to generate approximately 1.5 tonnes of flotation concentrate, which will later be utilized in a hydrometallurgical pilot plant later this year. The estimated cost of this pilot program is CAD $1 million. Mark Tory, CEO of Defense Metals, emphasized that this testing represents a critical step toward advancing their 2025 pre-feasibility study into a feasibility stage, enhancing the company’s commitment to becoming North America's first large-scale producer of rare earth elements (REEs).
The pilot program will be managed by chief metallurgical consultant John Goode, P.Eng., who brings over 60 years of experience in metallurgy and has worked on various rare earth projects globally. Goode stated that this effort will facilitate the optimization of the metallurgical processes for the Wicheeda Project and provide valuable data necessary for the upcoming feasibility study.
Additionally, Defense Metals also announced the grant of 7,375,000 incentive stock options to its directors, officers, and consultants, subject to TSX Venture Exchange approval. This strategic move indicates the company's efforts to foster growth and ensure adequate funding as it pursues its goal of becoming a reliable supplier of critical REE for various high-tech sectors. The company continues to progress towards the project’s feasibility and ultimate production.
MWN-AI** Analysis
The announcement from Defense Metals Corp. regarding the pilot-scale flotation test program for the Wicheeda Rare Earth Project is an important development for investors and stakeholders in the rare earth elements (REE) sector. The successful implementation of this pilot program could represent a strong advancement in the company’s progress towards becoming a prominent REE supplier, particularly as demand for these metals grows in defense, high-tech, and clean energy applications.
The decision to engage SGS Canada Inc. for the comprehensive 30-tonne pilot-scale test indicates a serious commitment to refining the metallurgical processes essential for optimizing production at Wicheeda. By producing approximately 1.5 tonnes of high-grade flotation concentrate, the company can gain critical insights that will support the feasibility study (PFS) and subsequent phases of project development.
For investors, this development could signal a strategic entry point into the stock. As the testing progresses and provides positive results, it may bolster investor confidence and attract new capital. The recent grant of 7,375,000 incentive stock options at C$0.28 suggests that the company is positioning itself for future growth, incentivizing its team to drive toward successful project execution.
However, while the project shows promise, it is crucial to remain cognizant of potential risks. Factors such as fluctuating rare earth prices, regulatory hurdles, and operational challenges could impact the timeline and viability of the Wicheeda project. Investors should keep an eye on upcoming updates from the company regarding the outcomes of the flotation tests and any data that supports the feasibility of the project.
In conclusion, while there are inherent risks, the pilot program presents a significant opportunity for potential growth. Investors should consider monitoring the developments closely as Defense Metals aims to solidify its position in the burgeoning REE market.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
VANCOUVER, BC, Feb. 17, 2026 /PRNewswire/ - Defense Metals Corp. ("Defense Metals" or the "Company") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D), a company focused on the development of the Wicheeda Rare Earth Project ("Wicheeda Project"), located near Prince George, British Columbia, Canada, is pleased to announce that it has appointed SGS Canada Inc. ("SGS") to undertake a comprehensive 30-tonne pilot-scale flotation testing program on two newly-prepared drill core composite samples from the Wicheeda deposit.
The Company's metallurgical program is designed to further advance process flowsheet development and support future engineering studies for the Wicheeda Project. The program includes the preparation and testing of two composite samples, consisting of representative drill core material for Years 1 – 5 of the proposed operation and Year 6 onwards. Importantly, the pilot plant operation will generate about 1.5 tonnes of flotation concentrate which will be used in a hydrometallurgical pilot plant to be undertaken later this year. The total estimated cost of the pilot flotation program is approximately CAD$1 million.
"We have been steadily releasing work packages which form the foundation for progressing our 2025 pre-feasibility study (refer to Company News Release April 7th, 2025) to a feasibility stage," said Mark Tory, CEO of Defense Metals. "Having already accelerated our field work and environmental baseline programs, we are pleased to announce this comprehensive pilot-scale flotation testing program as the next major step towards the development of the Wicheeda project as Canada's first large scale REE critical minerals producer."
SGS was selected based on its experience and reputation as the benchmark for quality and integrity in the collaborative design and execution of a pilot plant of this type. The program will be managed on behalf of Defense Metals by chief metallurgical consultant Mr. John Goode, P.Eng. Mr. Goode has an extensive career in the design, monitoring, and interpretation of beneficiation and hydrometallurgical test-work and has over 60 years of experience as a metallurgist working on numerous rare earth projects located in Canada, Brazil, USA, China, Australia, Russia, and elsewhere.
"This program represents a significant step toward the de-risking and optimisation of the metallurgical processing route for the Wicheeda Project," noted Mr. Goode. "It will generate additional data required for the feasibility study and produce the high-grade flotation concentrate feed for the planned hydrometallurgical pilot plant."
The Company will provide further updates as the test program is finalized and progresses.
Grant of Incentive Stock Options
The Company also announces the grant of 7,375,000 incentive stock options ("Options") to directors, officers and consultants of the Company, subject to TSX Venture Exchange approval. Options are exercisable for the purchase of one common share of the Company for three years at a price of C$0.28 per common share.
About Defense Metals Corp. and its Wicheeda Rare Earth Element Project
Defense Metals Corp. ("Defense Metals" or the "Company") is an advanced rare earth elements (REE) exploration and development company focused on delivering strategically critical metals to Western defence, high-technology, and clean energy supply chains. The Company's primary asset is its 100%-owned Wicheeda Rare Earth Element Project, located near Prince George, British Columbia, Canada.
The Wicheeda Project is one of the most advanced undeveloped rare earth deposits in North America or Europe, featuring a robust mineral resource and mining reserve, as detailed in the Company's 2025 Pre Feasibility Study ("PFS") (refer to Company News Release April 7th, 2025) prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"). The PFS, showed the economic potential of the deposit, supporting future project development.
Defense Metals is committed to advancing the Wicheeda Project through the Feasibility Study ("FS") stage, permitting, and eventually into production positioning the Company to become a reliable supplier of critical rare earths that are essential to modern defence systems, advanced manufacturing, and energy-efficient technologies.
The Company's shares trade on the TSX Venture Exchange (TSXV: DEFN), the OTCQB Venture Market (DFMTF) and the Frankfurt Exchange (FSE: 35D).
The PFS for the Wicheeda Rare Earth Element Project, prepared in accordance with NI 43-101 is preliminary in nature and includes numerous assumptions regarding metallurgy, capital and operating costs, and market conditions.
Mineral reserves and the economic outcomes projected in the PFS are subject to significant uncertainties, and there is no certainty that the results of the PFS will be realized. Additional studies, including a Definitive Feasibility Study (DFS) and permitting work, are required before a production decision can be made.
For further information, please visit www.defensemetals.com or contact:
Ali Mahdavi
SVP Corporate Development
Email: am@spinnakercmi.com
Mark Tory
President and CEO
Email: mark@defensemetals.com
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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, any statements (expressed or implied) relating to: advancing the Wicheeda Project and the proposed debt settlement. Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking. All statements in this news release, other than statements of historical facts, that address events, contribution 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 anticipated costs and expenditures, 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 the risks and uncertainties relating to the interpretation of exploration and metallurgical results, risks related to the inherent uncertainty of exploration and development and cost estimates, the potential for unexpected costs and expenses and those other risks filed under the Company's profile on SEDAR+ (www.sedarplus.ca). While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. 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 and climate conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain or obtain community acceptance (including First Nations), risks relating to unanticipated operational difficulties (including failure of equipment or processes to operate in accordance with specifications or expectations, cost escalation, unavailability of personnel, materials and equipment, government action or delays in the receipt of government approvals, industrial disturbances or other job action, and unanticipated events related to health, safety and environmental matters), risks relating to inaccurate geological, metallurgical, engineering and pricing assumptions, decrease in the price of rare earth elements, the impact of viruses and diseases on the Company's ability to operate, restriction on labour and international travel and supply chains, loss of key employees, consultants, officers or directors, increase in costs, delayed results, 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.
SOURCE Defense Metals Corp.
FAQ**
How will the pilot-scale flotation test program announced by Defense Metals Corp DFMTF help in optimizing the metallurgical processing route for the Wicheeda Rare Earth Project?
What specific objectives does Defense Metals Corp DFMTF aim to achieve with the 1.5 tonnes of flotation concentrate generated from the pilot program?
Considering the estimated cost of CAD$1 million for the pilot flotation program, what are the expected financial implications for Defense Metals Corp DFMTF in relation to future project development?
How does the appointment of SGS Canada Inc. for the flotation testing program enhance Defense Metals Corp DFMTF's credibility and confidence in advancing the Wicheeda Project towards production?
**MWN-AI FAQ is based on asking OpenAI questions about Defense Metals Corp (OTC: DFMTF).
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