The Nechalacho Project
The Tardiff Deposit
The Tardiff Deposit
One of the World's Largest Rare Earth Deposits
The Tardiff deposit sits at the heart of the Nechalacho Project, hosted near the top of a nepheline syenite intrusion within the Paleoproterozoic Blatchford Lake Igneous Complex, one of the most mineralogically significant geological formations in North America. Mineralisation is defined to approximately 100 metres below surface, making it a near-surface, open-pittable deposit with exceptional scale.
Tardiff hosts a total Mineral Resource of 192.7 million tonnes at 1.3% TREO, containing 2.5 million tonnes of total rare earth oxides. With NdPr representing 25% of total rare earth oxide content, Tardiff carries one of the highest magnet rare earth ratios of any deposit globally.
192.7Mt
Total Resource @ 1.3% TREO
636kt
Contained NdPr
578kt
Contained Nb₂O₅
Drill hole collar plot – Tardiff drilling 2023
Mineral Resource Estimate
JORC-Compliant Resource, December 2024
Reported above a 0.7% TREO cut-off grade and within an optimised open-pit shell. Updated December 2024 and based on 484 diamond core drill holes.
Classification
Tonnage (Mt)
TREO (%)
NdPr (%)
Nb₂O₅ (%)
TREO (kt)
NdPr (kt)
Measured
7.6
1.48
0.36
0.24
112
27
Indicated
41.0
1.29
0.32
0.25
528
131
M + I
48.6
1.32
0.33
0.25
640
158
Inferred
144.1
1.31
0.33
0.32
1,883
477
Total
192.7
1.31
0.33
0.30
2,523
636
Mineral Resources that are not Ore Reserves do not have demonstrated economic viability. Due to rounding, totals may not represent the sum of all components. Revenue in cut-off grade calculation is attributable to Nd₂O₃ and Pr₆O₁₁. Refer to the Compliance & Disclaimers page for the full JORC Competent Person statement.
July 2025 Scoping Study
Tardiff Scoping Study Delivers Robust Financial Outcomes
NdPr breakeven price of US$33.68/kg against a base case assumption of US$90/kg — nearly 3× headroom.
Niobium assumed at 0% payability in this study. That upside is not yet in these numbers.
Development Pathway
Advancing Tardiff to Pre-Feasibility
Metallurgy Optimisation
Further test work targeting improved TREO recoveries, confirmed niobium payability and established zirconium payability.
Infill Drilling & MRE Update
Targeted infill drilling to convert Inferred Resources to Measured and Indicated, supporting a longer mine life and expanding project economics.
Infrastructure Partnerships
Collaboration with Indigenous communities and logistics partners to formalise the barging and rail solution via Great Slave Lake to Hay River and the Canadian National Railway network.
Pre-Feasibility Study
Incorporating the updated Mineral Resource Estimate and results of project optimisation.
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