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(Wallace Refiners) – Vital Metals (ASX: VML) today announced that it has signed a definitive mining contract with local company Det’on Cho Nahanni Construction for work to commence at the North T Zone at its Nechalacho project in Northwest Territories, Canada.
The company said that the North T Zone is the first deposit to be mined at Nechalacho, with Vital progressing to rare earth oxide production in CY2021, and that Nahanni Construction will mobilise to site by end of March.
The Nechalacho project is a high grade, light rare earth (bastnaesite) project located at Nechalacho in the Northwest Territories of Canada and has potential for a start-up operation exploiting high-grade, easily accessible near surface mineralisation. The Nechalacho rare earth project hosts within the Upper Zone, a measured, indicated and inferred JORC Resource of 94MT at 1.46% TREO.
Managing Director Geoff Atkins said, “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.”
Vital Metals is an explorer and developer focusing on rare earths, technology metals and gold projects. Vital Metals aims to become the lowest cost producer of mixed rare earth oxide outside of China by developing one of the highest-grade rare earth deposits in the world and the only rare earth project capable of beneficiation solely by ore sorting.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
