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

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 […]

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