Vital Metals Limited (ASX: VML), also known as Vital Metals, has disclosed its quarterly results for the period ending March 2024, highlighting significant advancements in its Rare Earth Elements (REEs) mining endeavors. Notably, the focus remains on the Nechalacho Project, situated in Canada, which serves as the flagship REE venture for the company.

Within the Nechalacho Project, specifically the Tardiff Deposit located in the Northwest Territories (NWT) of Canada, Vital Metals estimates a substantial reserve exceeding 623,000 tonnes of neodymium oxide + praseodymium oxides (NdPr). These elements, crucially neodymium and praseodymium, are indispensable constituents in high-powered magnets, with dysprosium, samarium, and terbium further augmenting magnets engineered for elevated temperature environments.