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Canada
Wicheeda Project

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 Location:
38 km E from Bear Lake, British Columbia, Canada

  Project Contacts:
605-815 Hornby St.
Vancouver
British Columbia, Canada
V6Z 2E6
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WebsiteWeb
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  • Overview
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  • Mining
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  • Reserves
  • Costs & Financials
  • Fleet
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  • Filings & News

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Overview

StagePreliminary Economic Assessment
Mine TypeOpen Pit
Commodities
  • REE
Mining Method
  • Truck & Shovel / Loader
Mine Life16 years (as of Jan 1, 2021)


Owners

Source:
CompanyInterestOwnership
Defense Metals Corp. 100 % Indirect
Jan. 14, 2022 /CNW/ - Defense Metals Corp. is pleased to announce that it has completed the acquisition of Spectrum Mining Corporation, the holder of a one hundred percent (100%) interest in the Wicheeda Rare Earth Element (REE) Property.

Contractors

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Deposit Type

  • Intrusion related
  • Carbonatite hosted
  • Vein / narrow vein


Summary:

Limited areas of the Wicheeda claim group have been covered by reconnaissance and/or gridbased bedrock mapping. The REE-enriched carbonatites located at the project are part of a narrow elongate, south-trending intrusive carbonatite-syenite complex cutting or occupying a structural panel within calcareous siltstones and limestones of the Cambrian to Ordovician Kechika Group. Some of the geological contacts observed in core are intrusive while others are almost certainly structural. The carbonatite complex extends southward from the south end of Wicheeda Lake for approximately 13 km.

Outcrop on a moderately steep, west-facing slope south of Wicheeda Lake, an area that coincides with part of the former ‘George’ grid, consists of a sequence of interbedded limestone, calcareous argillite and argillite with consistent northwest-trending attitudes and sub-vertical dips (Betmanis, 1987). A small intrusion cuts the sedimentary rocks in the southern part of the grid, just north of ‘A’ Creek. This feature was mapped as syenite in 1986 by Betmanis (1987), although during a reevaluation of the area (including trenching) the following year, it was concluded that the intrusion was a carbonatite (Lovang and Meyer, 1988).

Three types of narrow (0.5 m to 1.5 m), northwest-trending dikes were also observed in the gridded area, including: a K-feldspar phyric type with a fine-grained albite matrix and abundant Fe-rich biotite; a blue sodalite-rich (as phenocrysts and matrix ........


Mining Methods

  • Truck & Shovel / Loader


Summary:

The Wicheeda deposit is to be developed as an open pit mining operation. The pit is to be developed in two phases, with Phase 1 targeting at-surface higher grade mineralization. Mining rates over the 16-year life-of-mine vary from 4 to 7 Mtpa to maintain a 1.8 Mtpa mill feed rate to the flotation concentrator.

Mining will be on six-metre benches and mill feed material will be hauled to a crusher close to the pit rim. Crushed mill feed will be conveyed to the nearby flotation concentrator. There is allowance for a low grade stockpile near the pit rim; however, at the level of the PEA, this was not needed. Future detailed mine planning will likely result in stockpiling lower grade materials, to be processed at the end of the mine life.

Waste rock will be mined and hauled to the waste storage facility (WSF) located adjacent to the pit or to the TSF for embankment construction.

It is assumed that the Wicheeda mine will be owner-operated, with contractor engagement for secondary earthworks (e.g. TSF embankment).

Two Phase Design
To minimize upfront mining costs and to advance the mining of high-grade mill feed in the early mine life, the pit waspit was split into two phases (pushbacks). The first phase of mining will focus on the high-grade area in the center of the deposit and avoids mining the high wall. The stripping for the second phase of mining will start in Year 3, after the first phase of mining has established steady mill f ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:
The production schedule mines 26 million tonnes of mill feed over a period of 16 years. The assumption is that for the first four years, the concentrate produced by the mill is sold directly. During this period a hydrometallurgical plant is assumed to be built and from Year 5 onwards, a mixed REE precipitate is the product sold.

CommodityUnitsAvg. Annual
REE t 25,423
All production numbers are expressed as oxide.

Operational Metrics:

Metrics
Stripping / waste ratio  ......  Subscription required
Daily milling capacity  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Tonnes milled, LOM  ......  Subscription required
Annual milling capacity  ......  Subscription required
Annual ore mining rate  ......  Subscription required
* According to 2021 study.
Subscription required - Subscription is required.

Reserves at November 7, 2021:
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 a Lerchs-Grossman (LG) optimized pit shell

CategoryTonnage CommodityGradeContained Metal
Indicated 5.031 Mt Total Rare Earth Oxides 2.95 % 148,184 t
Inferred 29.467 Mt Total Rare Earth Oxides 1.83 % 538,757 t

Commodity Production Costs:

CommodityUnitsAverage
Assumed price Total Rare Earth Oxides USD  ......  Subscription required&nbs
* According to 2021 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2021
OP mining costs ($/t mined) USD 4.33 *
OP mining costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2021 study.
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2021 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Expansion CapEx $M USD  ......  Subscription required
Working capital $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
OP OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 1,368
G&A costs $M USD 96
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Net revenue (LOM) $M USD  ......  Subscription required
Operating margin, %  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of November 7, 2021:
HME TypeModelSizeQuantity
Dozer ....................... Subscription required 230 kW ....................... Subscription required
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....................... Subscription required ....................... Subscription required ....................... Subscription required ....................... Subscription required
....................... Subscription required ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Nov 7, 2021
....................... Subscription required ....................... Subscription required Subscription required Nov 7, 2021
....................... Subscription required ....................... Subscription required Subscription required Jan 18, 2022
Subscription required - Subscription is required.


Corporate Filings & Presentations:

DocumentYear
Press Release 2022
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
Subscription required - Subscription is required.

Subscription required - Subscription is required.

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