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Vital Metals Ltd (ASX:VML) has expanded its ongoing scoping study over the Tardiff rare earths deposit in Canada to assess how viable it is to recover niobium (Nb2O5), after earlier test work showed this was possible.
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The company had previously reported the presence of niobium for the first time within its updated mineral resource estimate (MRE) for Tardiff, after initial metallurgical work showed the metal could be recovered.
Located in Canada’s Northwest Territories, the project holds an MRE of 192.7 million
tonnes at 1.3% total rare earth oxide (TREO) and 0.3% niobium, containing 636,000 tonnes
of NdPr (neodymium oxide + praseodymium oxide) and 578,000 tonnes of Nb2O5.
The scoping study underway is seeking to delineate the size and scalability of potential production from the deposit, whose rare earth mineralisation lies within a geological formation which also hosts niobium.
Niobium is an increasingly important mineral, used in aeronautic engines, electronics, and to enhance the life of lithium batteries (as an additive), and niobium pentoxide’s low oxidation point and relatively high melting point have pushed its market price higher to US$58.46 per kilogram.
Additional test work for the scoping study is anticipated to take around eight weeks, with the study itself to be completed by April 2025.
Vital Metals is also collaborating with the Canadian government for the potential development of a central processing hub for rare earths to boost the country’s supply chain for critical minerals.
Vital shares rose on the news, and at 10:41 AEDT, they were trading at 0.2 cents – a rise of 33.33% since the market opened.
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