Victory Metals expands North Stanmore REE footprint to 34km
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Victory Metals’ aircore drilling at North Stanmore has returned an impressive dataset, facilitating its shift towards initial JORC mineral resource estimate work, which is scheduled for release in Q2.
The final assays from aircore drilling undertaken in late 2022 have not only extended the Total Rare Earth Oxides (TREO) area to 34km2 with mineralisation open in all directions but have returned an average grade of 992ppm TREO.
A valuable Heavy Rare Earth Oxide ratio of 34% has also been recorded as well as a valuable NdPr and DyTb ratio of 24.02% of TREO.
Around 87% of drill holes returned anomalous rare earth element (REE) mineralisation with the highest grade up to 1.08% or 10,829ppm TREO with 59% valuable HREO ratio.
Victory’s (ASX:VYM) executive director Brendan Clark says the data set confirms “market leading” average grades of rare earth mineralisation at the project.
“It is outstanding that North Stanmore’s ratios plot in similar and some cases advanced ranges to international rare earth deposits.
“The majority of Victory’s anomalous rare earth results are negative cerium enriched giving the company great confidence in the metallurgical testwork that is underway as negative cerium enriched deposits are typically known to host significant ratios of Heavy Rare Earth’s and generally achieve high rates of metal recovery.”
Notable intersections include 32m at 1047ppm TREO from 36m, 16m at 2155ppm TREO from 21m, and 12m at 1316ppm TREO from 24m.
Victory is now able to focus on the initial JORC mineral resource estimate work and metallurgical testwork which is expected to be released in Q2.
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.