Victory finds high-grade REE result in the basement at North Stanmore
Victory Metals’ latest aircore drilling results at the North Stanmore project in WA have intercepted high grade rare earths in basement rock, below the clay hosted REE mineralisation previously reported.
Assays confirm 1.01% (10,100ppm) Total Rare Earth Oxides (TREO) with a significant Heavy Rare Earth Oxide (HREO) to TREO ratio of 79%, and expands the company’s footprint by almost 3km to the East of the existing REE discovery and remains open in all directions.
Dysprosium is a very valuable Heavy Rare Earth Element (HREE) used in nuclear reactors, electric vehicles (EVs), and wind turbines and Terbium is a rare HREE which, when alloyed with Dy, improves the temperature resistance of magnets used in EVs and wind turbines.
Victory Metals (ASX:VTM) says the remaining assays from the AC, reverse circulation and the diamond drilling program are expected to be reported in batches through Q1 2023.
“Heavy Rare Earth ratios totalling 79% are almost unheard of, making the story at North Stanmore very unique,” executive director Brendan Clark said.
“North Stanmore is developing into a very large system and these results provide an additional exploration prospect in search of the source of the Rare Earths we have identified throughout the clay portion of the project.
“The company will utilise the samples on hand that have not been assayed to further understand this incredible anomaly by using traditional analytical processes and state of the art for mineralogical characterisation.”
Provisional technical interpretation suggests that the saprock (slightly weathered bedrock) hosted REE assays may be part of a hydrothermal system derived from a deeper intrusion, and if confirmed, may potentially be associated with the intrusive primary critical metal source which will warrant further exploration.
“This new knowledge is important for Victory’s exploration strategy, because alkaline-silicate and associated carbonatite intrusive complexes typically occur in close spatial relationship,” Victory’s technical consultant Professor Ken Collerson said.
“They are invariably surrounded by aureoles of high temperature metasomatically-altered country rock, termed fenites.
“Therefore, fenite alteration aureoles are clearly important vectors for critical minerals exploration.
“The broad footprint of REE mineralisation at North Stanmore reported initially in ionic clays at a shallow depth and now at extremely high concentrations deeper in the regolith profile within altered bedrock, could be a manifestation of such an extensive alteration halo,” Collerson added.
This article was developed in collaboration with Victory Metals Limited, 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.