Cheetah Resources, a subsidiary of ASX-listed Vital Metals Limited (ASX: VML), aims to become a producer of rare earths oxides in 2021 through its Nechalacho project in Canada – one of the highest grade rare earth deposits in the world.
Nechalacho is the only rare earth project capable of beneficiation solely by ore sorting. Cheetah is aiming to become one of the lowest cost producers of rare earth oxides outside China.
The Nechalacho Project is a high-grade, light rare earth (bastnaesite) project 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 JORC Compliant Resource of 94.7Mt at 1.46% REO (25% NdPr).
Mining has commenced at Nechalacho with concentrate production to follow via ore sorting. Material will be sent to a cracking and leaching facility in Saskatoon later in 2021.
In addition, Cheetah Resources plans to develop the Wigu Hill Project in Tanzania.
The Wigu Hill project is a light rare earth element deposit and consists of a large carbonite complex with bastnaesite mineralisation with a NI 43-101 Inferred resource estimate of 3.3Mt at 2.6% LREO5 including 510,000t @ 4.4% LREO5 on 2 of 10 possible drill targets.