Rare Earth Grades Mined at Nechalacho Exceed Vital’s Expectations – Site Update

20 September 2021

Highlights

  • Nechalacho ore sorter commissioning has been completed with production continuing through August
  • On-site analysis confirms ore sorter production is in line with expectations
  • Approximately 28,000 tonnes of ore has been mined from Nechalacho’s North T pit.
  • High-grade fines have been direct bagged, without the need for further upgrading due to higher than expected TREO grades
  • Vital expects to ship approximately 1,000t of beneficiated product to Saskatoon in the 3rd Quarter, 2021. This will be sufficient to supply the first 9 months commissioning with further deliveries to be scheduled as required.
  • First feed at the Saskatoon Extraction Plant is forecast to occur by the end of 2021 with commissioning activities forecast to continue through the 1st half of 2022.
  • Mining operations are scheduled to be completed, with demobilisation of the mining fleet occurring, at the end of September

Vital Metals Limited (ASX: VML) (“Vital Metals” or “the Company”) is pleased to provide an update on operations at its Nechalacho rare earths project in Northwest Territories, Canada, where Vital commenced bagging high-grade ore mined from Nechalacho’s North T pit.

Vital Metals’ Managing Director Geoff Atkins said mining and sorting operations at Nechalacho have continued through August with key highlights being zones of high grade ore able to be bagged directly from the crusher, without the need to be processed through the ore sorter.

“As mentioned last month, mining at North T intersected high-grade REO mineralisation in the northern edge of the pit wall which was not part of our existing North T mineral resource. Mining in this area produced a high-grade ore that did not require processing through the ore sorter – we have simply crushed and bagged it, ready for transport to Saskatoon in coming weeks,” he said.

“In addition to bagging high-grade ore, processing of medium and low-grade material through the ore sorter has continued through August. The ore sorter has continued to produce beneficiated product with production rates increasing according to plan. We expect to commence shipping approximately 1,000t of beneficiated product by the end of September. We will ship these to Saskatoon, where our rare earth extraction plant is currently under construction. The volume of material being transported to Saskatoon will be sufficient to commission and operate the Rare Earth Extraction Plant prior to further deliveries of product next northern summer.”