Impressive drill results have the potential to add more heavy rare earths to North Stanmore’s resource. Pic: Getty Images.
Victory Metals hits outstanding heavy rare earths at now 13.5km long North Stanmore
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- North Stanmore REE mineralisation now extends over 13.5km
- Heavy rare earth ratios ‘outstanding’, averaging 41% of the total rare earth oxides in the intercepts
- GSWA already recognises North Stanmore as a world class find
Special Report: Victory Metals has grown its North Stanmore rare earth mineralisation to more than 13.5km of strike, striking world class ratios of prized heavy rare earth oxides.
Victory Metals’ (ASX:VTM) North Stanmore project near Cue in WA already boasts a substantial 235Mt resource, including 79,200t of total rare earth oxides and 28,000t of heavy rare earth oxides.
The latest drill data will help the company expand its mineral resource, already regarded by experts at the Geological Survey of WA as a world-class ionic clay-hosted heavy rare earths and scandium discovery.
Drill highlights from the north and south of the current resource include TREO of up to 2700ppm at hole AC0011 from 24m – 1.8km south of the July indicated resource estimate – and TREO of up to 1405ppm at hole AC0083 from 22m, 8km to the north.
Grades of up to 3174ppm TREO were found in shallow strike, but just as important was the impressive ratios of heavy to total rare earths.
Heavies made up an average 41% of the rare earth oxides across the holes outside the resource, hitting as much as 75% in an intercept in hole AC0030.
Heavy rare earths, notably dysprosium and terbium are so sought after in the West because the magnet metals are almost entirely produced by China and its neighbour states, a key vulnerability when it comes to building ex-China magnet supply chains.
North Stanmore continues to grow
“Given the size of the North Stanmore intrusion magnetic anomaly, we knew there was significant potential for REE mineralisation beyond the current mineral resource estimate area, and the scale of what we’ve now uncovered is impressive,” VTM exec director Brendan Clark said.
“These additional high-grade zones are set to add real value to the scoping study, with potential benefits like extending the mine-life and further improving project economics.
“We’re incorporating these new assay results into an updated MRE, which means we’re aiming to complete the scoping study by Q1 2025.”
Next phase
That study will carry more weight with the additional tonnes and heavy rare earths concentrations identified in the recent drilling program, positioning VTM as a key Western source of critical minerals essential for the energy transition.
“In a world where heavy rare earths are critical for energy, technology, and defence, our project is perfectly positioned to meet the increasing demand,” Clark said.
“The consistency and grade of our mineralisation give us great confidence as we advance the MRE and move into the next phase of development.”
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.
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