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Will This Canadian REE Company Decide to Advance Its Athabascan Uranium Projects?

Source: Streetwise Reports   09/30/2021

Defense Metals intends to determine if restarting exploration work at Geiger North and Klaproth will…

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This article was originally published by Streetwise Reports

Source: Streetwise Reports   09/30/2021

Defense Metals intends to determine if restarting exploration work at Geiger North and Klaproth will increase the value it is currently creating for shareholders.

Over the past few years, during which the uranium market has been depressed, Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE) focused on advancing the rare earth elements project, Wicheeda. However, now that uranium spot prices are at multiyear highs, the Vancouver-based explorer decided to investigate whether its two uranium projects are worth advancing to create more value for shareholders.

"Together, the two projects encompass five mineral claims over 9,363 hectares."




These two projects are Geiger North and Klaproth, which Defense Metals acquired in 2018. Geiger North consists of three pieces of land totaling 1,233 hectares (1,233 ha) and Klaproth, two properties spanning 8,130 ha. Together, the two projects encompass five mineral claims over 9,363 ha.  

The location of the projects is advantageous and strategic, as they are in the prolific northeast Athabasca Basin in Saskatchewan, Canada, next to the Wollaston-Mudjatik transition zone, a structure tied to most of the area's major uranium deposits.

Also, Geiger North and Klaproth are strategically interspersed among projects of major miners, including Iso Energy Ltd., Cameco Corp., Orano Canada Inc., Denison Mines Corp., and Purepoint Uranium Group Inc. Only 35 kilometers (35 km) away is the McClean Lake mill.

The next step for Defense Metals and its two Athabasca projects is to review all of the existing data on them. Those will encompass information from previously completed exploration work, including diamond drilling, geochemical surveys, and magnetic and electromagnetic geophysical surveys, both ground and airborne.

Once that is done, the company should then be able to choose whether or not to re-commence exploration efforts at Geiger North, subject to a 2% net smelter returns royalty, and/or Klaproth. Were it to decide to proceed, the work likely would include airborne electromagnetic geophysical surveys "to identify prospective basement conductive anomalies," as noted in a news release.

Timing plays a role, not only in terms of the strength of the uranium market, but also because Geiger North's claims are valid only through summer-fall 2022, Klaproth's through early 2023.

Meanwhile, Defense Metals continues moving forward on the Wicheeda rare earths deposit, on which it has an option to earn a 100% stake. To date, at this British Columbia project, the junior explorer has proven up a mineral resource comprising 4,890,000 tons (4,890 Mt) averaging 3.02% light rare earth elements (LREEs) of Indicated resources and 12.1 Mt LREEs averaging 2.90% of Inferred resources.

Also, the company had metallurgical testing done at Wicheeda that resulted in 90% extraction of rare earth elements and 85% recovery of a high-grade LREO concentrate.

Along with Wicheeda, Defense Metals has the option to acquire 100% of another mining asset, the Lac Burge gold property, about 215 km northeast of Val d'Or, Quebec.

Defense Metals was founded in October 2016 as First Legacy Mining Corp. The name was changed to Defense Metals Corp. about two years later, in December 2018.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Defense Metals Corp. Click here for important disclosures about sponsor fees.  
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Defense Metals Corp., a company mentioned in this article.

( Companies Mentioned: DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE, )

Energy & Critical Metals

French Finance Minister Issues Declaration Of Independence… From the US

French Finance Minister Issues Declaration Of Independence… From the US

Authored by John V. Walsh via, 

"Clear Differences…

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French Finance Minister Issues Declaration Of Independence... From the US

Authored by John V. Walsh via, 

"Clear Differences Remain Between France and the U.S, French Minister Says," is the headline to a remarkable piece appearing in the New York Times this week. The Minister, Bruno Le Maire, is brutally frank on the nature of the differences as the quotations below Illustrate. In fact, they amount to a Declaration of Independence of France and EU from the US.

It is not surprising that the differences relate to China after the brouhaha over the sale of US nuclear submarines to Australia and the surprising (to the French) cancellation of contracts with France for submarines. Mr. LeMaire, sounding very much like a reproving parent, characterized this as "misbehavior from the US administration."

French Finance Minister Bruno Le Maire (L) with President Emmanuel Macron, AFP

Mr. LeMaire made it crystal clear that the disagreement over submarines is symptomatic of deeper differences in world view that have emerged not only in France but in the EU as a consequence of China’s rise. The NYT article states:

"'The United States wants to confront China. The European Union wants to engage China,' Mr. Le Maire, a close ally of President Emmanuel Macron of France, said in a wide-ranging interview ahead of the (IMF) meetings. This was natural, he added, because the United States is the world’s leading power and does not ‘want China to become in a few years or in a few decades the first superpower in the world.

"Europe’s strategic priority, by contrast, is independence, ‘which means to be able to build more capacities on defense, to defend its own view on the fight against climate change, to defend its own economic interest, to have access to key technologies and not be too dependent on American technologies,’ he said."

The article continued, quoting the Finance Minister:

"The key question now for the European Union, he said, is to become ‘independent from the United States, able to defend its own interests, whether economic or strategic interests.’"

LeMaire might have pre-ambled that statement with: "When in the course of human events, it becomes necessary for one people to dissolve the political bonds which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation."

Still, seasoned diplomat that Mr. LeMaire is, he provided some cold comfort to the naughty US administration, saying, the United States remains "our closest partner" in terms of values, economic model, respect for the rule of law, and embrace of freedom. But with China, he said, "we do not share the same values or economic model."

The article continued:

"Asked if differences over China meant inevitable divergence between the United States and Europe, Mr. Le Maire said, 'It could be if we are not cautious.' But every effort should be made to avoid this, which means ‘recognizing Europe as one of the three superpowers in the world for the 21st century,’ alongside the United States and China."

The piece concluded;

"One of the biggest lingering points of contention is over metal tariffs that former President Donald J. Trump imposed globally in 2018. Officials face difficult negotiations in coming weeks. Europeans plan to impose retaliatory tariffs on a range of US products as of Dec. 1, unless Mr. Biden pulls back a 25 percent duty on European steel and a 10 percent tax on aluminum.

"‘If we want to improve the bilateral economic relationship between the continents, the first step must be for the United States to lift the sanctions in the steel and aluminum case,’ Mr. Le Maire said. ‘We are fed up with the trade wars,’ he added."

Shared values are nice, but shared profits are clearly better.

Tyler Durden Thu, 10/14/2021 - 02:00
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Energy & Critical Metals

Auroch Minerals kicks off lithium-caesium-tantalum sampling at Nepean Project

Special report: Multiple pegmatite intrusions have been identified throughout the project area, including at the historic Nepean nickel mine itself. ……

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Multiple pegmatite intrusions have been identified throughout the project area, including at the historic Nepean nickel mine itself.

Auroch Minerals has started the sampling process for lithium-caesium-tantalum (LCT) mineralisation at the Nepean Project in Western Australia.

Following the identification of multiple pegmatite intrusions throughout the project area, the company has now initiated sampling of the pegmatites from the diamond core, which will then be submitted for assaying for LCT mineralisation.

The abundance of pegmatites was also identified in the recently completed first diamond drill-hole into Auroch’s (ASX:AOU) Nepean Deeps target, which was designed to test for down-plunge extensions to the high-grade nickel sulphide mineralisation below the historic Nepean mine.

Hole NPDD008, part of the thick pegmatite intrusion below the historic Nepean nickel mine from 641.5-993m. Pic: Supplied

This drill-hole intersected 46m of komatiitic ultramafics over three lower intervals, which are highly prospective for nickel sulphide mineralisation, and also intersected around 700m of pegmatite intrusions, including one 350m thick pegmatite in the hanging-wall below the historic nickel mine workings.

‘Very promising Nepean Deeps nickel sulphide target’

AOU managing director Aidan Platel said there is significant potential across the company’s tenure at the Nepean Project for lithium-caesium-tantalum mineralisation within the many pegmatites identified.

“Our recently-completed maiden diamond drill-hole into the very promising Nepean Deeps nickel sulphide target has provided us with significant intervals of fresh pegmatite intrusions in drill core, and we have initiated sampling of these zones in order to test for potential LCT mineralisation,” Platel said.

“In parallel, the down-hole geophysical surveys of drill-hole NPDD008 are well underway, and we are excited to see what targets they will potentially define to be tested by the ongoing Nepean Deeps diamond drill program.”

Down-hole electromagnetics 

Down-hole electromagnetics (DHEM) and down-hole magnetometric resistivity (DHMMR) surveys are being completed on hole NPDD008.

The surveys are to test for any conductive units that may represent nickel sulphide mineralisation within a radius of approximately 100–150m from the drill-hole.

Results from these surveys in conjunction with the geological interpretation will be used to design the next drill-holes into the Nepean Deeps targets.

The surveying and subsequent modelling of results from the down-hole geophysical surveys are expected to be completed by early next week.


Pegmatites at the Londonderry prospect 6km north of the historic Nepean nickel mine have previously been mined for multiple commodities including lithium, tantalite and beryl.

Auroch holds the tenure around the Londonderry prospects, including on a northeastern trend which will be reviewed for pegmatites both at outcrop and in the previous limited drilling.

Regionally, Mineral Resources’ (ASX:MIN) large Mt Marion lithium mine is only 35km to the east.



This article was developed in collaboration with Auroch Minerals, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions

The post Auroch Minerals kicks off lithium-caesium-tantalum sampling at Nepean Project appeared first on Stockhead.

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Base Metals

Strickland discovers high grade Mississippi Valley-style zinc-lead in Earaheedy basin

Special Report: Strickland Metals is confident its Iroquois prospect is emerging as a substantial mineralised system, with first pass RC … Read More

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Strickland Metals is confident its Iroquois prospect is emerging as a substantial mineralised system, with first pass RC drilling intersecting a high-grade zinc-lead discovery.

The drilling intersected broad mineralisation in the fresh rock containing both an upper zinc rich zone and a lower zinc and lead rich zone:

  • 23m at 5.5% zinc and lead (combined) from 108m (true depth 90m), including;14m at 4.5% zinc from 108m and 9m at 7% zinc and lead from 135m (IQRC001); and
  • 12m at 5.4% zinc and lead (combined) from 58m (true depth 50m), including 6m at 6.2% zinc from 58m and 6m at 4.6% zinc and lead from 96m (IQRC003).

Both holes also intersected broad lower-grade Zn + Pb mineralisation in the oxide zone:

  • 5m at 2.9% zinc and lead from 23m; and 22m at 2.2% zinc and lead from 37m (IQRC001); and
  • 13m at 2.1% zinc and lead from 24m (IQRC003).

Notably, the intersections are directly along strike from Rumble Resources’ (ASX:RTR) Earaheedy Project Chinook zinc-lead-silver discovery.

Strickland Metals (ASX:STK) reckons both of these discoveries suggest the Earaheedy Basin margin is emerging as a significant new mineralised province and is highly prospective for further zinc-lead discoveries.

Exciting high-grade discovery

“Our initial first-pass drilling at Iroquois has yielded an exciting shallow, high-grade zinc-lead discovery,” Strickland CEO Andrew Bray said.

“The mineralisation footprint is looking to be very substantial, with these zones having so far been intersected 300 metres along strike, and nearly 300 metres down dip with further assays awaited.

“This is the first-time mineralisation in fresh rock has been tested in the area, with historic shallow drilling targeting only a secondary manganese oxide zone (enriched with zinc and lead) near surface.

“Given the lateral extent of this mineralisation, it suggests that the primary mineralisation footprint is only going to grow from here. Mineralisation remains open in every direction.”

Pic: Project location compared to RTR’s Chinook discovery.

All the hallmarks of a Mississippi Valley-type deposit

Bray said the mineralisation is hosted within the Iroquois dolomite unit and has all the hallmark characteristics of a Mississippi Valley-type zinc-lead deposit.

“It has the same tenor of mineralisation as Rumble Resources’ Earaheedy Project discovery, which is directly along strike from Iroquois,” he said.

“The fact that mineralisation remains completely open along strike and down dip demonstrates the potential scale of what we’ve discovered.

“Given the significance of these results, we are amending the ongoing RC drilling to return to Iroquois as a high priority part of the current program.

“It’s expected up to eight further holes will be drilled to test for extensions along strike and down dip, prior to a large-scale drilling campaign getting underway first thing in 2022.”

Iroquois follow-up a high priority

Strickland says the drilling to date indicates strong continuity of mineralisation and highlights a substantial potentially mineralised zone which requires further drilling along strike.

The RC rig will return to the priority Iroquois prospect shortly to test for northern and southern extensions of mineralisation along the key regional fault structure.

The large-scale drilling program in early 2022 is planned to systematically test the Iroquois dolomite unit either side of prospective ‘feeder’ structures within the prospect area, as well as extensions to the current mineralisation down dip and along strike.

A comprehensive ground based Induced Polarisation (IP) survey also planned to assist with targeting.



This article was developed in collaboration with Strickland Metals Limited, a Stockhead advertiser at the time of publishing.


This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post Strickland discovers high grade Mississippi Valley-style zinc-lead in Earaheedy basin appeared first on Stockhead.

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