VITAL METALS LIMITED - ASX: VML

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Description

Vital Metals Ltd (ASX:VML) is an Australian-based mineral exploration and development company. We are currently focused on progressing our two exciting mineral projects:

* The advanced Watershed Tungsten Project in far north Queensland, Australia
* The Doulnia Gold Project in southern Burkina Faso, West Africa

Vital has an experienced board and management team working to demonstrate the value we believe lies untapped within our projects.

Watershed, Queensland

The Watershed Scheelite Deposit – 15.1 Million tonnes at 0.46% WO3 – ranks in the top ten unexploited tungsten deposits worldwide. This JORC (2004) compliant Indicated Resource of 69,300 tonnes (6.93 million metric tonne units – mtus) of contained WO3 occurs in both scheelite-bearing quartz-feldspar veins and as disseminated scheelite in the altered metamorphosed host rock.

Doulnia Project, Burkina Faso

On 8th February, Vital gave its Farm-In partner Ampella Mining (AML), formal notification of commencement of exploration activities at Doulnia.

Vital completed the first-ever gold-targeted drilling at Doulnia largely within the Kollo Prospect. The results of this “Phase 1 Drill Programme” were in-line-with or above expectations, with a number of shallow, high grade, wide gold intersections reported. Best results include:

KRC001: 18m @ 2.95g/t Gold from 37m (incl. 4m @ 4.28 g/t Gold from 45m & 2m @ 9.56g/t Au from 53m)
KRC001: 4m @ 18.71g/t Gold from 76m (ended in mineralisation)
KRC010: 5m @1.70g/t Gold from 30m
KRC018: 2m @ 3.63g/t Gold from 41m
KRC019: 31m @ 3.19g/t Gold from 34m (incl. 2m @ 16.91g/t Gold from 41m).

The 24 Reverse Circulation (RC) drill holes of the Phase 1 Drill Programme tested around 4.6 km of strike of sub-outcropping ENE trending structures, with 58% of drillholes intersecting >0.5g/t Au. Two short “drill fences” of multiple, angled and overlapping drill holes were completed across a portion of the structure’s strike, whilst the majority of other drillholes were individual drillholes into isolated outcropping targets. Significantly, the drill fences which more adequately tested the structure identified two geographic areas containing the significant results reported above. Both of these areas will be further tested in the next phase of drilling.

Mine For

tungsten, gold, zinc

Location of operation(s)

Queensland, Burkina Faso

Address

Se 44C, Cottesloe Central, 460 Stirling Hwy
PEPPERMINT GROVE, WA, AUSTRALIA

Phone

(61 8) 9388 7742

Email

Website

http://www.vitalmetals.com.au/

Last Updated

3/8/2011