The Canadian government is getting serious about rare earth elements. And now, they’re funding a publicly traded company to take things to the next level.

‍What’s happening:‍

• Defense Metals (TSXV: DEFN) has been named as a recipient for new funding from Natural Resource Canada’s Critical Minerals Infrastructure Fund to advance the development of their Wicheeda Rare Earth Element project located near Prince George, British Columbia
  

By the numbers:‍

• Defense Metals has won conditional funding for up to $853,825 CAD from Natural Resource Canada’s Critical Minerals Infrastructure Fund
  

Why it matters:‍

• The Wicheeda Rare Earth Element project is one of the only deposits of rare earth elements in Canada that has provable and economically viable resources
  

Going deeper:‍

• The new funding from Natural Resource Canada’s Critical Minerals Infrastructure Fund will go towards undertaking a detailed study focused on building a multi kilometre transmission line from the Wicheeda Rare Earth Element project to the provincial hydroelectric grid
  
• Defense Metals has an existing equity partnership with the McLeod Lake Indian Band to co-design the potential new transmission line and advance the build out of the Wicheeda Rare Earth Element project

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