25 May 2021
Vital Metals Ltd (ASX:VML) is pleased to announce it has received outstanding first pass assay results from the Tardiff Zone 1 within its 100%-owned Nechalacho Rare Earth Project, Northwest Territories, Canada.
The Nechalacho rare earth project consists of two distinct deposits which will be developed over two stages. The North T deposit hosts a high grade resource of 101,000 tonnes at 9.01% LREO in the measured and indicated JORC 2012 categories, making it one of the highest grade rare earth deposits in the world. Development of this deposit in currently underway under Stage 1. The second deposit, the Upper Zone, boasts an impressive light rare earth oxides (LREO) resource of 94.7 million tonnes at 1.46% TREO in the measured, indicated and inferred JORC 2012 categories and will be the focus expanded operations. The Tardiff Zone 1 is a higher-grade bastnasite rich area within this resource targeted by the 2021 drilling program to upgrade the resource so that mining and processing studies can be carried out.
Vital Metals Managing Director Geoff Atkins said: “The first results of this drilling program have exceeded our expectations of the higher grade bastnasite dominated rare earth zones in the Tardiff Zone. The scale of the Tardiff sets the foundations for expansion of works at Nechalacho into stage 2 of our plans. With mining activities currently underway at Stage 1, the results of this drilling program confirm the enormous potential for Tardiff Zone 1 to be the foundation of our Stage 2 expansion plans. The potential of this deposit is particularly exciting with the deposit remaining open in all directions, with the drilling program’s highest grade and largest intercepts being located along an open boundary. Further with intercept grades that would be the envy of rare earth projects around the world, these results confirm the status of Nechalacho amongst the world’s rare earth deposits.”