FinancialBuzz.com News Commentary
NEW YORK, June 7, 2022 /PRNewswire/ -- The U.S military uses an extensive list of minerals for the maintenance and the manufacturing of various technological equipment including weapons, vehicles as well as electronics and ballistics. Earlier this year, President Biden invoked the Defense Production Act, which will allow the government more power to provide support for the mining, processing and recycling of materials such as lithium, nickel, cobalt, graphite, manganese and other essential minerals. According to a report by The New York Times, Biden directed his Secretary of Defense to bolster the critical mineral supply by supporting feasibility studies for new projects, encouraging waste reclamation at existing sites, and modernizing or increasing production at domestic mines. Defense Metals Corp. (OTC: DFMTF) (TSX-V: DEFN), Triumph Group, Inc. (NYSE: TGI), Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD), Mercury Systems, Inc. (NASDAQ: MRCY), Spirit AeroSystems Holdings, Inc. (NYSE: SPR)
The U.S military, with almost 3 million personnel, 4,800 defense sites on seven continents and an annual budget of more than USD 700 Billion, is the largest organization in the world. As a result, a diverse supply of minerals are required by defense contractors to build needed equipment. For example, Copper is used to make military vehicles such as aircraft, naval vessels and Coast Guard ships due to its ability to resist corrosion. Aluminum, which is lightweight and thus improves fuel efficiency, is also widely used, and about 80% of aircraft are made from this metal, according to National Mining Association.
Defense Metals Corp. (OTCQB: DFMTF) (TSX-V: DEFN) just announced breaking news regarding, "the commencement of diamond drilling at its Wicheeda Rare Earth Element (REE) deposit. The Company plans to complete up to 5,000 metres of diamond drilling designed to further delineate existing resources, assess near deposit exploration targets, collect geotechnical and hydrogeological drilling for the purpose of optimization of open pit slope design, and generate additional REE mineralized material for continued metallurgical testwork.
The 2022 Wicheeda REE diamond drill campaign is expected to include up to 1,500 metres of pit geotechnical and hydrogeological drilling, 1,500 metres of further resource delineation and near resource exploration drilling, and up to 2,000 metres of 8.5 cm diameter PQ core for continued metallurgical testing.
The 2022 drill program has commenced from existing drill pads prepared during 2021 in the northern area of the Wicheeda REE Deposit that returned some of the highest grade x width intercepts of the 2021 drilling (Figure 2). Drill holes WI21-33 and WI21-40 yielded 3.79% TREO over 150 metres; including 4.77% TREO over 60 metres that extends 80 metres beyond the current mineral resource and 40 metres beyond the constraining pit shell. This higher-grade interval includes 12 metres averaging 8.06% TREO1 from 84 to 96 metres downhole, which contained the highest single (3 metre) combined neodymium-praseodymium (Nd-Pr) oxide assay value to date on the Wicheeda Project of 1.41% Nd-Pr Oxide at 10% TREO.
North area drilling will be followed by near resource exploration drilling immediately west of the Wicheeda Deposit targeting combined REE in soil geochemical and radiometric anomalies in the vicinity of historical 2009 exploration holes that revealed visual indication of potential REE mineralization when recently reviewed by the Defense Metals technical team.
As previously announced the Company has retained SRK Consulting (Canada) Inc. ("SRK") to assist with planning and executing geotechnical drilling investigations (see the Defense Metals News Release dated May 24, 2022). Senior SRK engineering personnel are expected to conduct a two-day field site visit to Wicheeda to conduct bedrock and structural mapping, view drill core, and establish geotechnical data collection protocols, testing, and instrumentation installation procedures…
Qualified Person: The scientific and technical information contained in this news release as it relates to the Wicheeda REE Project has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a "Qualified Person" as defined in NI 43-101. Mr. Raffle verified the data disclosed which includes a review of the sampling, analytical and test data underlying the information and opinions contained therein.
Defense Metals Corp. is a mineral exploration and development company focused on the acquisition, exploration and development of mineral deposits containing metals and elements commonly used in the electric power market, defense industry, national security sector and in the production of green energy technologies, such as, rare earths magnets used in wind turbines and in permanent magnet motors for electric vehicles. Defense Metals owns 100% of the Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada."
Triumph Group, Inc. (NYSE: TGI) designs, engineers, manufactures, repairs, overhauls, and distributes aerostructures, aircraft components, accessories, subassemblies, and systems worldwide. Back in April, Triumph Group reported that it was awarded a multi-year contract from Raytheon Intelligence & Space, a Raytheon Technologies business, to deliver air inlet and exhaust electro-mechanical door actuators and an advanced electronic control system for the Next Generation Jammer Mid-Band (NGJ-MB) pod. The contract covers production demand for LRIP lots I and II as well as non-recurring engineering for product and producibility enhancement. The work will be performed at Triumph's Actuation Products & Services facility located in Redmond, Washington. "Knowing that we play a key part in the success of the Next Generation Jammer Mid-Band program is exciting and aligns with our mission to partner with our customers to solve their hardest challenges with industry-leading technologies and innovation," said Mike Boland, President of Triumph Actuation Products & Services. "Our experience in designing and manufacturing actuators and controls will enhance the performance, reliability and affordability of the Next Generation Jammer Mid-Band."
Aerojet Rocketdyne Holdings, Inc. (NYSE: AJRD) designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. It operates in two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.
Mercury Systems, Inc. (NASDAQ: MRCY) a technology company, engages in the manufacture and sale of components, products, modules, and subsystems for aerospace and defense industries in the United States, Europe, and the Asia Pacific. The company's products and solutions are deployed in approximately 300 programs with 25 defense contractors and commercial aviation customers. Back in May, Mercury Systems together with Lockheed Martin announced they signed an agreement to collaborate on the development and manufacture of new sensor processing technologies at Mercury's Geneva, Switzerland facility for a wide variety of applications such as radar signal processing, multi-sensor data fusion, artificial intelligence and situational awareness. With a potential lifetime value of $40 million, the contract supports Lockheed Martin's offset agreement with the Swiss government as part of Switzerland's planned procurement of 36 F-35A Lightning II aircraft related to the Air 2030 program.
Spirit AeroSystems Holdings, Inc. (NYSE: SPR) announced held last year a grand opening event and ribbon cutting ceremony for its National Defense Prototype Center (NDPC), a joint project with Wichita State University's National Institute for Aviation Research (NIAR). This new research center will significantly expand Spirit's capabilities and production efficiencies in the defense and space market. "NIAR has been a tremendous partner in the development of the National Defense Prototype Center and enabling Wichita as a center for defense growth," said Duane Hawkins, Spirit AeroSystems executive vice president; president, Defense and Space. "The NDPC provides a secure space for high temperature materials testing, as well as development, prototyping and industrialization capabilities to support Spirit's growth strategy targeting $1 billion of defense revenue by the mid-2020s."
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