- Vital Metals’ (VML) Canadian subsidiary, Cheetah Resources, has signed a mining contract with Det’on Cho Nahanni Construction
- Under the contract, work will be undertaken at the North T Zone within the Nechalacho Project in Northwest Territories, Canada
- Det’on Cho Nahanni will mobilise to the project in March with work to be undertaken between March and September
- Mined ore will be stored up for use with Cheetah to complete ore sorting during the summer months between 2021 and 2023
- The ore will then be used to create a product suitable for processing at Vital’s Rare Earth Extraction Plant in Saskatoon to produce a mixed rare earth carbonate product
- As a result, a second mining program will be needed in 2024 to refill the stockpiles
- Vital is up 6.98 per cent on the market and shares are trading at 4.6 cents
Vital Metals’ (VML) Canadian subsidiary, Cheetah Resources, has signed a mining contract with Det’on Cho Nahanni Construction.
Under the contract, work will be undertaken at the North T Zone within the Nechalacho Project in Northwest Territories, Canada.
This contract follows on from the memorandum of understanding (MoU) signed in January 2020 that established Det’on Cho Nahanni as the preferred mining services contractor.
Det’on Cho Nahanni will mobilise to the project in March with specific work including mining, crushing, screening and site clearing. Work will then be undertaken between March and September.
Mined ore will be stored up for use with Cheetah to complete ore sorting during the summer months between 2021 and 2023.
The ore will then be used to create a product suitable for processing at Vital’s Rare Earth Extraction Plant in Saskatoon to produce a mixed rare earth carbonate product.
As a result, a second mining program is required in 2024 to refill the stockpiles.
“The signing of our mining contract in Yellowknife is an important step forward for Vital as we move toward production at Nechalacho, and we are pleased to be working with Det’on Cho Nahanni Construction which is owned by local First Nations people,” Managing Director Geoff Atkins said.
“We are developing Nechalacho using the most sustainable methods possible which includes the use of local labour so that we can support the communities surrounding our project,” he added.
Vital is up 6.98 per cent on the market and shares are trading at 4.6 cents at 11:36 am AEDT.