24 January 2024
(25 January 2024) Vital Metals Limited (ASX: VML) (“Vital” or “the Company”) is pleased to outline its 2024 plans which aim to demonstrate the economic potential of a larger scale production centre on its Nechalacho rare earths project in the Northwest Territories, Canada.
Key Highlights
The Company enters the year with a new team and a solid balance sheet, with primary focus on maturing value on the Nechalacho rare earth project through the delivery of key exploration and development-related milestones in 2024.
Vital Metals Managing Director and CEO Geordie Mark commented, “Vital is on track to deliver an exciting range of milestones for the world-class Nechalacho project over 2024. We are focused on delivering the first economic study on the upper Tardiff deposit, and this will be informed by a combination of detailed geological and process flowsheet work to augment and de-risk study outcomes. The geological potential of the area remains undertested and we aim to target the expansion potential of shallow higher-grade mineralization, as well as examine undrilled lithium-bearing pegmatites on the project area over the course of the year.
Vital believes Tardiff is a world-class rare earths asset, having both size and grade that offers a differential value proposition to operate at a material scale to build into a North American rare earths supply chain for multi-decades. The tabling of our new strategy for the conservative development of a large, longer life rare earths operation on Nechalacho provides us a template to engage with our local stakeholders where we envisage the potential of the project over the short and long-term.”