The latest assay results from Victory Metals’ 118-hole AC drill program at its North Stanmore REE project in WA has confirmed an average Total Rare Earth Oxide (TREO) grade of 1035ppm with valuable Heavy Rare Earth Elements ratio of 34% and critical magnet metals NdPr + DyTb 20% of total REEs. 

The results from a further 42 AC holes show significant REE clay-hosted mineralisation across the project, with the highest grade at 9746ppm (TREO).

For context, typically ore grades of ion adsorption-type rare earth element deposits range from 140 to 6,500 ppm (typically ~ 800 ppm).

Notable intersections include:

  • 32m at 1047ppm TREO from 36m (NSTAC004) including 12m at 2038ppm TREO, and 8m at 2467ppm TREO from 48m; and
  • 16m at 2155ppm TREO from 21m (NSTAC032) including 6m at 4683ppm TREO, and 2m at 9681ppm TREO.

A total of 9,593m of further AC drilling is now complete with assays pending.

With bonus scandium

“There is no doubt we are onto something truly unique at North Stanmore with the latest assays confirming several critical factors of the company’s Rare Earth discovery including the continuation of grade and high ratio of very valuable metals,” Victory Metals (ASX:VTM) executive director Brendan Clark says.

“Victory has also seen some great correlations between its p-XRF data and previously reported assays, and we are very excited about the potential for even further mineralisation both south and north of the reported assays from our latest drilling program.

“It is the company’s priority to fast-track metallurgical studies and commence RC drilling in January 2023 which is designed to complement the completed AC drilling and be incorporated into a JORC resource for the Rare Earth Element discovery.”

As an added bonus, the assays have also continued to confirm high grade scandium (Sc2O3) up to 123ppm – with scandium being essential for manufacturing Al-Sc alloys in fighter jets and hydrogen fuel cells.

 

 

 

This article was developed in collaboration with Victory Metals, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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