Vital Metals reports a substantial 56% increase in Measured and Indicated Resources at its Tardiff project, alongside a significant expansion of its Nechalacho land footprint and plans for a forthcoming Scoping Study.
- 56% increase in Measured + Indicated Resources at Tardiff
- Total resource tonnage now 192.7 million tonnes at 1.3% TREO
- 636,000 tonnes of NdPr and 578,100 tonnes of niobium estimated
- Expansion of Nechalacho land holdings to over 75km²
- Upcoming Scoping Study to assess production scalability
Resource Upgrade at Tardiff
Vital Metals Limited (ASX: VML) has delivered a significant boost to its Tardiff Upper Zone Mineral Resource Estimate (MRE), reporting a 56% increase in Measured plus Indicated Resources to 48.6 million tonnes at an average grade of 1.32% total rare earth oxides (TREO). This update, announced in January 2025, follows an extensive 2023 drilling campaign comprising 74 holes and 6,664 metres, which yielded high-grade intersections up to 8% TREO.
The total resource now stands at 192.7 million tonnes at 1.31% TREO, containing approximately 2.5 million tonnes of TREO, including 636,000 tonnes of neodymium and praseodymium oxides (NdPr), critical components for high-strength magnets used in green technologies. Notably, niobium, a metal with applications in aerospace alloys and lithium-ion batteries, is reported for the first time within the same geological formations, with an estimated 578,100 tonnes of niobium pentoxide (Nb2O5).
Strategic Implications and Next Steps
The updated MRE is reported above a 0.7% TREO cutoff grade, a shift from the previous metal equivalent cutoff, providing a clearer basis for economic assessment. Vital Metals plans to leverage this updated resource base to underpin a Scoping Study, expected imminently, which will explore the size and scalability of future rare earth element production scenarios at Tardiff.
Alongside resource growth, Vital has expanded its land position at the Nechalacho Rare Earth Project in Canada’s Northwest Territories by staking over 25 square kilometres immediately north of the existing claims. This expansion increases the company’s footprint to more than 75 square kilometres, enhancing exploration potential and resource upside.
Operational and Financial Overview
During the December 2024 quarter, Vital Metals maintained a cash position of approximately A$1.8 million. The company spent $467,000 on exploration and development activities, with payments to related parties totaling $173,000. Vital is actively pursuing non-dilutive funding sources, including insurance proceeds and potential debt facilities, to support ongoing operations and the upcoming Scoping Study.
Corporate governance developments include the appointment of Hall Chadwick NSW as the new auditor, following the resignation of BDO Audit Pty Ltd, and the successful passage of all resolutions at the November 2024 Annual General Meeting.
Looking Ahead
Vital Metals’ enhanced resource base and expanded land holdings position the company well to advance its rare earths project amid growing demand for critical minerals in the green economy. The forthcoming Scoping Study will be a pivotal milestone, providing clarity on project economics and potential production pathways, particularly with the added dimension of niobium recovery.
Bottom Line?
Vital Metals’ resource upgrade and land expansion set the stage for a critical Scoping Study that could redefine its rare earths production potential.
Questions in the middle?
- What will the Scoping Study reveal about the economic viability and scale of Tardiff’s rare earth production?
- How will further testwork on niobium recovery impact the project’s value proposition?
- What financing strategies will Vital Metals pursue to support development beyond the Scoping Study?