Cheetah Resources is a subsidiary of ASX-listed Vital Metals Limited (ASX: VML), Canada’s first and North America’s second rare earths producer, having commenced production at its Nechalacho project in June 2021.
Nechalacho is one of the highest grade rare earth deposits in the world and 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).
Cheetah Resources has signed a project development option agreement with Montero Mining & Exploration Ltd, to acquire and develop the Wigu Hill Project.
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.