Vital intersects up to 2.8% TREO in drilling at Tardiff

29 May 2023

HIGHLIGHTS

  • Tardiff resource definition drilling returns large intersections of total rare earth oxides (TREO) from initial results of 74-hole, 6,664m resource definition drilling program.
  • Assays for the first 17 infill drillholes return 35+ intervals greater than 1% TREO, confirming strong REO mineralisation in the drilling area. Results include:
    • 14.0m at 2.8% TREO from 76m;
    • 20.45m at 2.2% from 6.25m; and
    • 38.25m at 1.7% TREO from 21.35m.
  • Drilling aimed to increase confidence of the Tardiff Zone 1 and 3 resource areas from Inferred to Measured and Indicated Mineral Resources.
  • Assay results from the remaining 57 holes are expected over the next 3 to 4 months.
  • Vital is focused on developing the large-scale Tardiff deposit, one of the largest single rare earths deposits in the western World, estimated to contain 416,000 tonnes of permanent magnet minerals neodymium and praseodymium (NdPr).

Vital Metals Limited (ASX: VML l OTCQB: VTMXF) (“Vital”, “Vital Metals” or “the Company”) is pleased to announce positive initial results for the first 17 drill holes from its 2023 resource definition drilling program completed at the Tardiff deposit at its Nechalacho Rare Earth Project in NWT, Canada.

The Tardiiff Deposit boasts an impressive light rare earth oxides (LREO) resource of 119 million tonnes at 1.4% TREO in the measured, indicated and inferred JORC 2012 categories and the 2023 drilling program is a major step towards future economic studies in the development of this world class light rare earth deposit.

Vital’s successful drill program consisted of 74 drillholes for 6,664m (Figure 1), expanding on drilling completed in 2021 and 2022. The 2023 program aimed to increase the Measured and Indicated components of the 2023 Mineral Resource Estimate, focusing on the Tardiff Upper Mineralised Zone above the 150RL which is held by Vital. Vital’s 2023 resource definition drilling program was drilled on a nominal 50m by 50m grid to infill areas previously drilled by Avalon Advanced Materials Inc on nominal 100m to 200m drill spacing.

Vital has received assay results for 17 drillholes (1,534m) (Figure 2), confirming previous geological interpretations of mineralisation in the Inferred resource areas and a better understanding of the rare earth mineralisation at Tardiff.

Vital Chief Operating Officer Eben Visser said: “Tardiff is already positioned as a world-class rare earths deposit, but we are keen to continue our exploration and drilling efforts to uncover the full potential of its rare earth mineralisation. We’re pleased with the results received to date for the infill drilling as these confirm the zones of REE mineralisation at Tardiff. We are continuing to log and process drill core for assaying and will report further results from this program as they are received. We are working towards a better understanding of the geology at Tardiff and increasing confidence in our Inferred components of the Mineral Resource Estimation towards Measured and Indicated categories.”

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