Vital reports an updated Mineral Resource estimate (“MRE”) for the Tardiff Upper Zone
20 January 2025
Vital’s optimized MRE delivers 56% increase in Measured + Indicated resources for Tardiff rare earth deposit
Vital Metals Limited (ASX: VML) (“Vital”, “Vital Metals” or “the Company”) is pleased to report an updated Mineral Resource estimate (“MRE”) for the Tardiff Upper Zone (“Tardiff”), part of the Nechalacho Rare Earths Project (the “Project”), located in Northwest Territories (NWT), Canada. The current MRE follows Vital’s completion of resource definition drilling program at Tardiff in 2023, totalling 74 holes for 6,664m, which returned high-grade results up to 8% TREO. The current MRE features a total resource tonnage (across all categories) of 192.7Mt grading 1.3% TREO and 0.3% Nb2O5, containing 2.52Mt TREO including 636,000t of NdPr.
Vital Managing Director and CEO Lisa Riley said: “Our updated MRE for the Tardiff deposit shows increased confidence in the deposit, with a 70% increase in the Indicated Resource tonnages and a 56% increase in the Measured + Indicated Resource tonnages compared to our April 2024 historical MRE, while our Inferred Resource tonnages have decreased by more than 20%. While our overall totals of contained TREO and NdPr have only slightly increased on the April 2024 historical MRE, based on the drilling we completed in 2023, we now have Page 2 of 41 more confidence that this is a truer representation of what this deposit holds. “The current MRE is the final piece awaited for inclusion in our Tardiff Scoping Study, which is now due for delivery in the coming weeks.”
Vital VP Exploration Natalie Pietrzak-Renaud: “The positive changes to the current MRE compared to the April 2024 historical MRE is largely based on the inclusion of the 2023 drill results, the 2024 metallurgical test results we obtained from our 2023 collected composite Tardiff sample, and the carefully considered metrics we used as inputs. Our approach is to establish outputs that are realistic pathways for project development. With the work we completed on the MRE and the forthcoming Scoping Study, we have, and continue, to build a solid foundation of data and knowledge to advance our project.”