- Defense Metals Corp. (TSXV:DEFN) received positive results from Ucore Rare Metals (TSXV:UCU) on its Wicheeda rare earth carbonate sample
- Ucore confirmed that this testing of the mixed rare earth carbonate material provides determination of its suitability as a product for commercial-scale processing with its RapidSX technology
- Rare earth stocks have rallied this year as investors wonder about the stability from overseas exports
- Defense Metals Corp. opened Monday trading at $0.22 per share, and Ucore Rare Metals Inc. opened trading at $0.72 per share
Investors are seeking unique and local rare earth companies making impressive partnerships as China tightens its grip over global exports.
Defense Metals Corp. (TSXV:DEFN) received positive results from Ucore Rare Metals (TSXV:UCU) on its Wicheeda rare earth carbonate sample.
The Canadian mineral exploration and development company announced that Ucore received and tested a Wicheeda mixed rare earth carbonate (MREC) sample at its Kingston, Ontario, RapidSX commercialization and demonstration facility (CDF). Ucore confirmed that this testing of the MREC material provides determination of its suitability as an MREC product for commercial-scale processing with Ucore’s RapidSX technology at Ucore’s Louisiana Strategic Metals Complex (SMC) project that is under development in Alexandria, Louisiana, and planned SMCs to follow, including a Canadian facility.
The two teams have signed a memorandum of understanding to explore collaborative opportunities as both companies move towards their respective commercialization efforts for a North American rare earth element (REE) supply chain.
This sample was generated during Defense Metals’ hydrometallurgical piloting test work performed last year on concentrate produced by flotation pilot plant testing of a 26-tonne bulk sample from its wholly owned Wicheeda Property in British Columbia.
“Our testing of the MREC product was well-received confirmation that the Defense Metals’ Wicheeda project is a source of material that can become a fundamental economic and technical component to Ucore’s plan of developing multiple SMCs across North America – each with the ability to process a multitude of light and heavy mixed rare earth carbonates and oxides from a vast assortment of original mineralizations,” Mike Schrider, P.E., Ucore’s vice president and chief operating officer said in a news release. “The high-purity, and very specifically – the acceptable spectrum of minor impurities, MREC we received sets the stage for the companies’ continued collaboration during our upcoming NRCan program and specific incorporation into our Louisiana SMC engineering flowsheets.”
“We are pleased that Ucore has concluded that our Wicheeda MREC material is well suited for their RapidSX technology and commercial-scale REE separation and oxide production plans,” Defense Metals’ CEO, Craig Taylor, added. “Our Wicheeda project is vital in mitigating North American reliance on non-Western rare earth sources, and we look forward to continued progress toward collaborative opportunities with processing partners and strategic partners, such as Ucore, across the developing North American rare earth supply chain.”
REE stocks have rallied this year as investors wonder about the stability from overseas exports.
Defense Metals Corp. is a mineral exploration and development company. It focuses on metals and elements commonly used in the EV market, military, national security, and “green” energy technologies. Defense Metals’ 100-per-cent-owned, 42.6-square-kilometre Wicheeda REE property is 80 km northeast of Prince George, B.C.
Halifax-based Ucore is focused on critical metals extraction, beneficiation and separation technologies and holds total control over the Bokan-Dotson Ridge Rare Heavy REE Project on Prince of Wales Island in Southeast Alaska.
Ucore Rare Metals Inc. (TSXV:UCU) has a market cap of C$46 million and opened Monday trading at $0.72 per share.
Defense Metals Corp. (TSXV:DEFN) has a market cap of C$55.6 million and opened trading at $0.22 per share.
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