Victory Metals proves up to 83% heavy rare earth ratios

• VTM has released an upgraded resource update for the North Stanmore rare earths project
• Update highlighted ultra-high grade zones suitable for satellite pits

Special Report: Victory Metals says an upgrade to the mineral resource estimate (MRE) at its flagship North Stanmore heavy rare earth elements project in WA has revealed ultra-high, heavy rare earth ratio zones of up to 83%.

With leading ratios of heavy rare earth elements, including dysprosium (Dy) and terbium (Tb), comparing favourably to other Australian clay-hosted project at this scale, Victory Metals (ASX:VTM) is emerging as a standout, low-cost heavy rare earth element producer.

The resource update incorporates results from a targeted 79 drillhole 3,221m, air-core drilling campaign, delivering a 29.5% increase to 320.6 million metric tonnes at 510 ppm total rare earth oxide (TREO) and high HREO/TREO of 39% (inferred and indicated).

The ultra-high heavy rare earth ratio zones identified from across the resource area include:

• 83% HREO/TREO at 1,726ppm;
• 81% HREO/TREO at 3,584ppm;
• 80% HREO/TREO at 10,179ppm;
• 76% HREO/TREO at 2,890ppm; and
• 75% HREO/TREO at 4,423ppm.

The company also identified a high-grade shallow zone of 50 million metric tonnes at 1,050ppm TREO/Sc2O3.

The mineralisation remains open, highlighting the opportunity to target the ultra-high heavy rare earth ratio zones through satellite pits.

The latest drilling program has proven a low-cost significant resource increase equating to $3500 all-in exploration costs per 1 million tonnes of resource added (inferred & indicated).

The upgraded MRE will now be used for the 2025 prefeasibility study planned for release later in 2025 and will assist in ongoing funding discussions for the project.

“This resource upgrade reinforces the immense scale and strategic importance of North Stanmore,” VTM CEO and executive director Brendan Clark said. 

“To deliver a 29.5% increase from a small, low-cost 3221m air core program speaks volumes about this deposit.

“Mineralisation remains open in multiple directions, with consistently thick and high-grade intercepts continuing to be identified. 

“While we see strong potential for further resource growth, the company’s priority is progressing development, as there is already sufficient material to support a mine life exceeding 30 years.” 

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.