Vital Metals announces significant increase in Tardiff Upper Zone Mineral Resource Estimate

Vital Metals Ltd (ASX: $VML) has reported a substantial 79% increase in the Mineral Resource Estimate (MRE) for the Tardiff Upper Zone Deposit at Nechalacho, with a 49% increase in total contained rare earth oxides (TREO) tonnage. The updated estimate, prepared by SLR Consulting (Canada) Ltd., showcases a significant lift in the contained neodymium oxide + praseodymium oxide (NdPr) in the total resource. The company holds a 100% interest in the Nechalacho project, covering more than 5000 hectares, and extending to a depth down to 150 metres above sea level.

Vital Metals' Managing Director and CEO on the significance of the MRE update

Vital Metals' Managing Director and CEO, Geordie Mark, emphasized the impact potential of the Tardiff Deposit within a North American perspective. He highlighted the substantial increase in contained neodymium-praseodymium oxide, or NdPr, to more than 623,000 tonnes, reinforcing Nechalacho's world-class character. Mark expressed confidence in Tardiff as an outstanding asset, given its shallow deposit, high NdPr:TREO ratio, and potential for project size and scalability of production over a protracted period. He also mentioned the company's plans to deliver a range of catalysts over the year, including more Tardiff drill results and targeted metallurgical work to inform a Scoping Study to be completed in late 2024.

Outlook and future plans

Vital Metals' updated Mineral Resource Estimate for the Tardiff Upper Zone Deposit demonstrates the company's commitment to advancing the Nechalacho Rare Earths Project. The significant increase in contained NdPr and the ongoing exploration activities indicate the project's potential for long-term production scalability. With plans for additional MRE updates and a scoping study in late 2024, Vital Metals aims to further solidify the project's position and impact potential within the rare earths market. The company's focus on delivering catalysts and conducting targeted metallurgical work reflects its dedication to maximizing the value of the Tardiff Deposit and the Nechalacho Project as a whole.