Victory Goldfields believes there’s over 9km2 of an ionic clay rare earth system developing at its North Stanmore project in WA.

A recently completed 118 hole aircore drilling program has intersected “encouraging thickness” of clays from surface down to approximately 80m across an area of around 9.3km2 – a more than 10 times increase to the existing Rare Earth Element (REE) discovery footprint.

Plus, reported trace element vectors of REE have been identified by p-XRF observations report very encouraging REE.

The first tranche of samples has now been delivered to the laboratory for analysis.

MRE and metallurgical testwork pending

Victory Goldfields (ASX:1VG) executive director Brendan Clark says the potential growth of the existing REE discovery footprint gives the company “great confidence to proceed with further exploration activities which will assist in compiling a JORC 2012 mineral resource estimate report for the project.”

“After the recent success of the oversubscribed placement, Victory is well positioned to fund the required exploration activities to advance this REE discovery including a reverse circulation program planned for Q4 2022, metallurgical test work and the commencement of a maiden Mineral Resource Estimate over the North Stanmore REE discovery,” he said.

Notably, initial laboratory analysis indicates the REEs could be leachable (to be confirmed by metallurgical testing) which could result in lower capital and mineral processing costs when compared with hard rock REE deposits.

 

 

 

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.

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