Join our daily newsletter At The Bell to receive exclusive market insights
- Vital Metals (VML) has intersected broad, high-grade rare earth oxides (REO) at the Tardiff Zone 1 which is part of the Nechalacho Rare Earth Project in Canada
- The company is undertaking drilling across three zones to better understand REO mineralisation and upgrade the existing mineral resource estimate
- Pleasingly, drilling returned REOs grading up to around 13.8 per cent and a thicknesses of more than 60 metres in width
- Vital is waiting on assays from the other two zones which will be used for metallurgical test work and to upgrade the project’s mineral resource
- Vital’s shares are up 19.2 per cent to trade at 6.2 cents
Vital Metals (VML) has received pleasing initial results from the Tardiff Zone 1 which is part of its Nechalacho Rare Earth Project in Canada.
This project is made up of two deposits which Vital is planning to develop over two stages. The first deposit, North T, hosts a measured and indicated resource of 101,000 tonnes at 9.01 per cent light rare earth oxides (LREO) — making it one of the highest-grade rare earth deposits in the world.
The second deposit is the Upper Zone which boasts a world-class resource of 94.7 million tonnes at 1.46 per cent total rare earth oxides (TREO). Tardiff Zone 1 is located within this resource and is the focus of Vital’s 2021 drilling program.
This drilling is targeting three high-grade rare earth oxide (REO) zones, being Tardiff Zones one, two and three, which were identified by Avalon Materials in historical drilling.
Vital drilled the first and third zones to grow the mineral resource so mining and processing studies can be carried out. Drilling at the second zone aimed to gain a better understanding of REO mineralisation that isn’t in the existing resource.
Best results include 31.8 metres at 4.35 per cent TREO from 11.5 metres including 6.9 metres at 13.78 per cent TREO, 60.9 metres at 1.92 per cent TREO from 11.4 metres, and 13 metres at 3.12 per cent TREO from 36 metres including four metres at 7.06 per cent TREO.
Seeing thickness of more than 60 metres in width and grades up to 13.8 per cent demonstrates the true potential of the Nechalacho Project.
Vital Metals is particularly impressed with the drilling program’s highest grades and largest intercepts being located on an open boundary. This confirms the potential for further high grades and discoveries.
“The first results of this drilling program have exceeded our expectations of the higher grade bastnasite dominated rare earth zones in the Tardiff Zone,” Managing Director Geoff Atkins said.
“With mining activities currently underway at stage one, the results of this drilling program confirm the enormous potential for Tardiff Zone 1 to be the foundation of our stage two expansion plans,” Geoff added.
The company is now waiting on results from Tardiff Zone 2 and 3 which will be used to upgrade the mineral resource estimate. Part of the samples will also be used for metallurgical test work which will support the stage two feasibility study.
Vital’s shares are up 19.2 per cent to trade at 6.2 cents at 10:16 am AEST.
