Victory Metals has intersected heavy value rare earth mineralisation 8.8km north from the existing resource at North Stanmore. Pic via Getty Images
Mining
Special Report: Assays from a 13,718 aircore infill resource definition drilling program at the North Stanmore project have confirmed ‘exceptional’ dysprosium and terbium ratios with a combined value 900% higher than most valuable light rare earth elements.
Infill drilling undertaken by Victory Metals (ASX:VTM) outside of the existing 700-1,100Mt exploration target at a grade range of 300-500ppm TREO has returned dysprosium and terbium ratios of 7.75% at North Stanmore, near the township of Cue in Western Australia’s Murchison district.
Other significant highlights include up to 68% heavy rare earth oxide (HREO) to total rare earth oxide (TREO), with the combined value of dysprosium and terbium about 900% higher than light rare earth elements praseodymium and neodymium.
VTM says these latest assays extend the exploration zone by 51km2, giving North Stanmore potential to become one of the largest heavy rare earth regolith ionic clay-hosted projects in the world.
Drilling highlights include 2m @ 8693ppm TREO from 41m, including 1m at 9986ppm TREO, with the average TREO grade from 81 holes totalling 1072ppm with low levels of radioactive elements like uranium (2.5ppm) and thorium (8.5ppm).
“We are thrilled with these latest assays, about 8.8km from our existing resource, which underscores the immense potential of the project,” VTM executive director and CEO Brendan Clark says.
“The rapid expansion of our exploration target solidifies North Stanmore’s position as a premier heavy rare earth project on a global scale and we are confident that with continued exploration and development efforts, North Stanmore will emerge as one of the largest and most valuable projects of its kind.”
As well as the rare earths discovery, Clark says the company also reported significant scandium anomalism, which adds another layer of value to the project.
“These results further validate our confidence in the potential of North Stanmore and reaffirm our commitment to unlocking its full value for our shareholders,” he says.
With over 60% of assay results now received showing wide intersections and high TREO grades, the focus for VTM remains on low-cost extraction methods to maximise the value of its heavy rare earth elements.
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.
