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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	VML
Latest Price:	0.06 (1.75% )
52-week High:	0.19
52-week Low:	0.05
Market Cap:	13.25M

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Vital Metals

Vital Metals (ASX:VML) is an Australian-based mineral exploration and development company.

Vital is currently focused on progressing two mineral projects, including the Doulnia Gold Project in southern Burkina Faso, West Africa, and the Watershed Tungsten Project in far north Queensland, Australia.

Vital Metals enters into farm-in agreement with Ampella Mining

Tuesday, November 24, 2009

Perth-based explorer Vital Metals (ASX: VML) has entered into a farm-in agreement for Ampella Mining's Doulnia/Campala project in Burkina Faso.

The company can earn a stake of up to 80 per cent in the Doulnia / Campala property, where an initial evaluation program by Ampella encountered widespread gold mineralisation when the company was exploring for zinc in 2007-2008.

Following completion of evaluation work, Vital may elect to withdraw or earn equity in three stages.

Vital will earn a 60% equity by sole funding A$1.5 million of exploration expenditure. The company can increase its equity to 70% by sole funding the next A$2 million expenditure and may increase to 80% equity by carrying the project to completion of a pre-feasibility study.

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