MTM Vital Metals Limited (ASX: MTM)– Trading Stop

Emphasizes:

• Upgraded Mineral Resource Quote (” MRE”) finished for the Dalgaranga Gold Task, situated on approved Mining Leases and within 2km of the 2.5 Mtpa processing plant:
  • 21.15 Mt @ 2.49 g/t gold for 1,692,600 ounces, making up:
  • 5.16 Mt @ 5.74 g/t gold for 952,900 ounces– Never ever Never ever Gold Deposit
  • 15.99 Mt @ 1.45 g/t gold for 739,800 ounces– Gilbey’s Complex
• Resource Category breakdown for the upgraded Dalgaranga Gold Task MRE:
  • 12.96 Mt @ 2.67 g/t gold for 1,119,000 ounces (66%) categorized as Suggested;
  • 7.93 Mt @ 2.25 g/t gold for 573,610 ounces (34%) categorized as Inferred.
• Resource Category breakdown for the upgraded Never ever Never ever Gold Deposit MRE:
  • 3.67 Mt @ 5.93 g/t gold for 700,700 ounces (74%) categorized as Suggested;
  • 1.49 Mt @ 5.28 g/t gold for 252,100 ounces (26%) categorized as Inferred.
• In-fill drilling from surface area has actually transformed circa 74% of the upgraded Never ever Never ever Gold Deposit MRE ounces to the greater self-confidence Suggested Resource category, offered for future conversion to Ore Reserves.
• The underground part of the upgraded Never ever Never ever MRE averages more than 1,690 ounces per vertical metre (” ozpvm”). In addition, the evident strike length of top-quality mineralisation at depth has actually increased to over 200m north-south and growing.
• Targeted in-fill drilling and upgraded Resource estimate of the greater grade 4 Pillars and West Winds gold potential customers has actually provided an upgraded Gilbey’s Complex MRE of:
  • 11.32 Mt @ 1.34 g/t gold for 486,500 ounces with 86% or:
  • 9.28 Mt @ 1.38 g/t gold for 410,800 ounces categorized as Suggested and constrained within a A$ 2,800/ oz pit.
• Upgraded Spartan Group Mineral Resources for the Dalgaranga and Yalgoo (” Murchison”) and Glenburgh and Egerton (” Gascoyne”) Projects now stand at:
  • 44.16 Mt @ 1.77 g/t gold for 2,512,400 ounces (69% or 1.7 Moz Suggested)

This most current MRE upgrade makes up an upgrade for the top-quality Never ever Never ever Gold Deposit in addition to an upgrade for the Gilbey’s Complex, which makes up the higher-grade 4 Pillars and West Winds Gold Potential Customers. The upgraded Mineral Resource Price quote is summed up listed below:

Table 1. Never Ever Never Ever MRE Dec 2023, reported by Mining Type and Resource Category – integrated open pit (>> 0.5 g/t Au << 270mRL) and underground >> 2.0 g/t Au, >> 270mRL) *

Table 2. Gilbey’s Complex MRE Dec 2023, consisting of, Plymouth and Sly Fox. Reported by Mining Type and Resource Category – integrated open pit (>> 0.5 g/t Au within a A$ 2,800 pitshell) and underground >> 1.0 g/t Au, listed below a A$ 2,800 pitshell) *

Table 3. Dalgaranga Gold Task Combined Resource as at December 2023

Management Remark

Spartan Handling Director and President, Simon Lawson, stated: ” This is an extraordinary outcome for our investors which shows the effort of the Spartan group over the previous year. To be able to publish a state-of-the-art Resource for the Never Never discovery of simply under 1 million ounces at a typical grade of 5.74 g/t less than a year after emerging from a 10c recapitalisation is an extraordinary result and an exceptional story– among which we are justifiably happy!

” The centrepiece of this MRE upgrade is when again the Never Never discovery, which has actually grown incredibly within brief order from a resource of 303,000 oz at the start of 2023, through to 721,000 oz in July, and now, less than 12 months later on, reaching 952,900 oz– 74% of which is now categorized as Suggested.

” Significantly, Never ever Never ever continues to become an interesting development story at depth, with current noticeable gold intercepts having actually been logged listed below the present MRE border and waiting for assay. The deposit stays open and seems shallowing and flattening somewhat to the south due to the flexure zone discussed in Tuesday’s statement. This provides as a tantalising target for a fan of directional drilling from a moms and dad hole that we prepare to drill early in the New Year to methodically comprehend the capacity of Never ever Never ever Deeps.

” I would likewise like to highlight the value of the acknowledgment and structural re-interpretation of the high- grade 4 Pillars and West Winds gold potential customers, part of the bigger Gilbey’s Complex MRE provided here. Our company believe these top-quality structures within and underneath the present Gilbey’s open pit, when integrated with the extraordinary top-quality endowment of the Never Never Gold Deposit, are a crucial part of any longer-term future mine strategy.

” We now have 739,800 ounces at a typical grade of 1.45 g/t in resource at Gilbey’s as a beginning point for the future. That grade is more than 50 percent above the typical resource grade at which the Business was mining in 2015. The recognition and concentrate on the higher-grade elements of the Gilbey’s series bodes very well for the possible to include bulk tonnage open pit ore feed at extremely appealing grades into the top-quality ore feed that we anticipate will originate from the Never Never underground mining complex. The Business’s mining method for these deposits situated within the flooring of the present Gilbey’s open pit is most likely to be rather various from what was pondered and mined previously, albeit we are extremely delighted about the possibilities here.

” Another crucial takeaway for financiers is that while this is simply an interim upgrade in what is a quickly unfolding development story at Dalgaranga, the Business has more drill assays to come and a lot more top-quality targets sitting along-strike from Never ever Never ever, 4 Pillars and West Winds. We have a complete target set and we have actually revealed what our group can with our drilling methods. We are well located and set to continue to provide more top-quality ounces at extremely appealing gold grades.

” We are all anticipating another enormous year in 2024. If we can duplicate anything like the success we have actually enjoyed in 2023 in regards to ongoing development in top-quality resource ounces within a 2km radius of the Dalgaranga plant, then Spartan is set for a really amazing future!

” Upon reviewing 2023, this has actually been a substantial synergy, and I would specifically like to thank our Expedition and Drill Management group on website, our Resource group and our extraordinary Financing group for their thorough stewardship of our expedition programs and sensible management of our financial resources.

” I would likewise like to thank and want all of our faithful investors a really safe and joyful summertime season and we anticipate providing more top-quality drill outcomes, more fast resource development, and as an effect an interesting mine strategy and Ore Reserves in 2024.”