Victory drilling shows emerging rare earth system at North Stanmore
Victory Goldfields’ aircore (AC) extension drilling at its North Stanmore project in WA is living up to its name, flagging a potential emerging rare earths system 3km from previously reported mineralisation.
The company says initial p-XRF results are looking very good for regolith-hosted Rare Earth Element (REE) mineralisation with ‘encouraging’ thickness of clays intersected from surface.
Plus, the positive REE trace element vectors recorded are consistent with Victory Goldfields’ (ASX:1VG) existing REE ionic clay discovery.
Samples are currently being prepared to be sent to the laboratory for assaying and metallurgical works are also set to commence.
Notable high-grade intersections from previous drilling include 3872ppm, 2414ppm and 1876ppm Total Rare Earth Oxides (TREO) at depth.
And the company says that if grades like these continue to be reported, then “the emerging REE system will be of significant scale and importance.”
The company’s interest in following up on the REE find is understandable given that it is not only laterally extensive. Existing assays have also consistently demonstrated that about a quarter (26%) of the mineralisation is valuable magnet REEs such as neodymium, praseodymium, dysprosium and terbium.
This article was developed in collaboration with Victory Goldfields, 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.