Vital Metals Ltd (OTCMKTS:VTMXF) is the first Canadian rare earth mining company and yesterday, it made a significant new announcement that could bring its stock into focus among investors. The company announced yesterday that there was a significant rise in the Mineral Resource Estimate for the Tardiff Upper Zone Deposit.
Vital Achieves 26% Increase in Tardiff Mineral Resource
Tardiff is actually a part of the Nechalacho Rare Earth Project, which is situated not too far away from Yellowknife in the Northwest Territories in Canada. The mineral resource estimate had been updated after the incorporation of as many as 4483 meters of drilling across as many as 66 holes that had been drilled across the years 2021 and 2022.
The total tonnage in the mineral resource estimate went up by as much as 26%. It was a particularly important announcement from Vital Metals considering the fact that the company owns the property in its entirety. The rise in the mineral resource estimate is expected to be seen as a significant new development by man investors who may be following the stock. It is now going to be interesting to see if the stock gains enough momentum and makes an upward move over the course of the coming days or not.