Victory is poised to kick off an extensive 120 hole aircore drill program to extend its North Stanmore rare earth elements discovery in Western Australia.

The 9,000m program follows on previous drilling, which returned thick, high-grade intersections of up to 3,872 parts per million (ppm) total rare earth oxides (TREO), and proved the continuity of REE mineralisation from surface to a depth of 72m over an area of 1km2.

It will test the area between Victory Goldfields’ (ASX:1VG) alkaline intrusion – often considered to be “engine rooms” for REE transport by melts from the Earth’s mantle into crustal mineral deposits – and the REE discovery about 3.5km to the south.

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 next phase of drilling has been designed for the specific purpose of rare earth element exploration and will also be used to collect samples for metallurgical test works,” executive director Brendan Clark said.

“Victory’s technical team is currently also interpreting the aerial magnetic data from the low flying aerial magnetic survey completed in August, with the information to be used to assist with the next phase of drilling at the alkaline intrusion and identify further drilling targets.”

Enhanced tenure

Victory recently acquired tenement application E20/1016, which borders the entire eastern boundary of North Stanmore, after making the discovery of the Bullseye alkaline igneous intrusion.

This is aimed at locking up the ground around the intrusion, which could potentially be surrounded by a zone of consistent REE mineralisation.

There is also potential for the area surrounding the intrusion to host nickel, cobalt and scandium given that initial assays on the intrusion returned up to 1022ppm nickel, 127ppm cobalt and 44ppm copper.




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.