Victory has once again extended its North Stanmore rare earths project near Cue, Western Australia, with the acquisition of a large tenement directly to the north.

The newly awarded tenement E 20/971 is about 10km north of cue and covers an area of about 46.5km2.

It follows last month’s acquisition of P20/2345 and P20/2346 from Golden State.

With this addition, Victory Metals’ (ASX:VTM) North Stanmore project now covers about 118.5km2 of which 34km2 is mineralised with an average assay grade of 992 parts per million total rare earth oxides and a valuable heavy rare earth oxide to TREO ratio of 34%.

“Victory’s latest tenement acquisition has excellent potential for rare earth element mineralisation as the company’s adjoining tenement to the south has mineralisation open in this direction,” chief executive officer Brendan Clark said.

“Victory’s exploration results to date have already identified high ratios of the heavy rare earth elements that are the most critical and valuable metals out of the suite of rare earth elements.”

He added that the company’s initial metallurgical test work has focused on the extraction of valuable and critical REEs such as terbium and dysprosium.

Victory acquired tenement E 20/971 from Northern Drilling for 238,000 shares, which will be issued under its placement capacity.

North Stanmore

Recent exploration at North Stanmore had expanded the REE footprint at North Stanmore up to 34km2.

Aircore drilling undertaken in late 2022 was an unqualified success with about 87% of the drill holes returned anomalous REE mineralisation with the highest grade up to 1.08% or 10,829ppm TREO with 59% valuable HREO ratio.

 

 

 

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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