Defense Metals – Wicheea Resource Update, Advancing The Pre-Feasibility Study, New Exploration Targets

September 12, 2023

Today Defense Metals (TSX.V:DEFN – OTCQB:DFMTF) released an updated Resource Estimate on the Wicheeda Project, in BC. The Company successfully upgraded the resource into Measured and Indicated to be used for the Pre-Feasibility Study (FPS) that is estimated to be released next year.


Craig Taylor, President and Director and Kris Raffle, Director of Defense Metals join me to recap the updated Resource Estimate and explain how it will feed into the PFS. I ask about any changes to the high grade portion of the resource, what work still needs to be completed for the PFS as well as get an update on new exploration targets that were announced on the September 5th news release. We also recap the two phases of pilot plant test work and what interest that has drawn from potential larger mining companies that could enter as partners to develop the Project.


If you have any follow up questions for the team at Defense Metals please email me at




Click here to read over today’s news release reporting the updated Resource Estimate.

    Sep 12, 2023 12:17 AM

    Ex, I know you have a full agenda of work at The Beaver Creek Precious Metal Summit, but you must mix work with pleasure at Beaver Creek. LOL! DT

    Sep 12, 2023 12:54 PM

    The TSX 30 for 2023 was just released today, more than half the companies were in the oil and gas sector. The question is how much longer will the fossil fuel sector dominate, maybe another year. Being positioned in the right sector at the right time shows the value of being diversified not only in one sector but across the board. DT

    Sep 13, 2023 13:24 AM

    attn all gold equity benchmark setting ipt holders. You have yet another low to back up the truck and buy more with any remaining cash you may have. That’s with gold consolidating within a hundred bucks of all time highs. There are plenty more dregs doing much the same.
    And where are the non sheeple site experts with their expertise

      Sep 13, 2023 13:03 PM

      Hard to imagine what kind of knucklehead would be selling IPT at those low prices but somebody promptly took the shares off his hands.

    Sep 13, 2023 13:34 PM

    SLV tested its 50 week MA last Thursday and is now sitting on its 1 year uptrend support for the first time in a month…
    Silver itself, on the other hand finally tested its 50 wma today.

    Sep 13, 2023 13:42 PM

    Gold tested its 200 day MA today for the first time since last December. Of course that support is $140 higher today…

    Sep 13, 2023 13:48 PM

    KTN has built quite a base since June and appears to be breaking out on rising (bullish) volume. With 40% of trading time this week still to come KTN has already had its best weekly volume in 2 months.

    Sep 13, 2023 13:28 PM

    The Canadian dollar hit year-old rising support last week…

    Sep 14, 2023 14:36 AM

    Uh oh … new data and bad for gold whatever it is. Anything we should know about in the real world. Probably not.

    Sep 14, 2023 14:39 AM

    Divergences galore…folks are buying the miners into this ‘final’?(sic) pop and high of fake dollar

    Sep 14, 2023 14:42 AM

    Very clever algo operating on my account: if the miner has “silver” in the name, it leads the way down. I bet that is a JPM algo.

      Sep 14, 2023 14:39 AM

      Good point and observation 🔭

    Sep 14, 2023 14:47 AM

    Could you talk to ARIS mining.

    Sep 14, 2023 14:03 AM

    Getting old. The hike killed me today and it leaves me some free time as I recover. 🙄

    Regretting I didn’t get fully back into uranium plays. URC warrants were .90 in July and $2.00 now. Only had my small long term holdings. No short term trading shares tho. But cash is king right jonsyl.

      Sep 14, 2023 14:50 AM

      Certainly has been Wolf. Can buy a hell of a more now in the metals sector than a scant 4/5 months ago. Getting a 5+ money market return not a bad thing vs bag holding.
      Although there are some green shoots as the sector looking tired of going down.
      Holding what I have and added some HL, KTN last couple days. Hell may even take a flyer on ipt now that it’s lost half it’s share price. LOL

        Sep 14, 2023 14:24 PM

        You must have a very narrow number of plays you follow and consider buys…..and even some of those you’ve mentioned have had some nice bounces for short term trades. Even I’ve played a few bounces when I had time to focus on that.

    Sep 14, 2023 14:10 AM

    Looks like the GASX has garnered some favourable positive momo after the chairman exercising those $1.20 warrants. Was .80 when he did that last week and trading at .97 today.

    Matthew what’s up Brixton ??? Should there not be drill results by now??? Every time I see an uptick in volume and price I think here we go then a week later it drifts back down on little volume into that .17-.18 range

      Sep 14, 2023 14:15 PM

      A lot of drill results are coming and the first of them will probably be soon. And don’t forget that we finally have drills turning at Hog Heaven in Montana using opm (other people’s money). Ivanhoe Electric’s interest in the property should not be underestimated if Robert Friedland’s past successes mean anything, and I believe they do.
      I don’t know if anyone here posted last week’s surface sample results:

        Sep 14, 2023 14:20 PM

        The daily parabolic trend flipped long today with that .18 print while the MACD and other oscillators also look good for going long. In addition, yesterday’s volume was the best in 7.5 months aside from the day of the spike high on June 5th…

          Sep 14, 2023 14:27 PM

          Thanks for the input Matthew. I did see that news and the underwhelming response it garnered. Think so solid drill results are needed to perk up interest again.

            Sep 14, 2023 14:33 PM

            Surface sample results rarely do much for immediate price action no matter how good they are. Crescat Capital thinks it is currently very undervalued and I agree. If we’re right it could start to move with strength even before the first drill results are available.

        Sep 14, 2023 14:04 PM

        Thanks Matthew… I did miss the Brixton release. I agree that grab samples don’t always get credit, but if I already own a stock, they mean a lot more.

    Sep 14, 2023 14:54 PM

    The miners are looking quite good today as silver is in the red while the silver miners are up +/- 2 percent. That divergence is better than just a simple outperformance.
    SILJ priced in SLV bottomed almost 3 weeks ago and is up over 9 percent since…

    Sep 14, 2023 14:04 PM

    Someone is buying Jr miners. Big volume on many of mine left for dead. Vizsla & Discovery Silver. For once, my portfolio had nice pop! Bottom fishers shall be rewarded….

    Sep 15, 2023 15:43 AM

    Silver hit its 200 week MA to the penny and then finished Thursday about 2 percent above it…

    Sep 15, 2023 15:45 AM

    Good info in this thread, thanks all. I took profits on KTN and will buy back in and bought SCZ and IPT… go silver, haha!