Victory Metals unlocks value from heavy REE zones at North Stanmore

• Victory Metals is setting out to target value from the multiple heavy REE zones identified across North Stanmore 
• About 26 high value zones have been flagged, with most of these sitting within the project’s indicated resource 
• A 10,000m drilling program is also in the works 

Special Report: Victory Metals’ North Stanmore project has been handed another rare earth star with the discovery of multiple ultra-high heavy rare earth oxide zones (HREO), reinforcing its position as one of the world’s most advanced REE clay projects. 

MEC Mining Group was commissioned by Victory Metals (ASX:VTM) last year to delineate and rank by revenue HREO zones at North Stanmore, with the aim of highlighting the distribution of heavy rare earth oxides across the WA project. 

Using the Ore Block Model, total rare earth plus scandium oxide (TREOSc) and heavy rare earth oxides (HREO) were mapped across the resource area, which currently stands at 320.6 million metric tonnes with a high HREO/TREO of 39% (inferred and indicated). 

Each zone was then reported for tonnes and grade of individual REO with 26 high-value zones identified, many of which sit within the indicated resource. 

Some of these zones contain up to 83% HREO/TREO, which Victory plans to integrate into its ongoing pre-feasibility study for the initial 10-year mine life.

By targeting just 30% of the previously planned material throughput, the company expects to deliver an equivalent oxide output, significantly lowering both capital and operating costs.

Heavy REEs face supply crunch 

The study’s findings come at a critical juncture, as rising geopolitical tensions highlight the urgent need for a secure, Western-aligned supply of rare earth elements.

And while companies such as Lynas Rare Earths (ASX: LYC) are expected to lead in light rare earth production, a significant shortfall in heavy rare earth oxide supply is anticipated. 

European (ex-China) prices for heavy rare earth yttrium have surged by up to 800% compared to the pricing assumptions used in Victory’s scoping study, while dysprosium and terbium have seen increases over 100%. 

Victory believes North Stanmore’s competitive advantage lies in its safe jurisdiction and its strong heavy rare earth resource base. 

North Stanmore’s advantage 

VTM CEO and executive director Brendan Clark says this is purely what sets North Stanmore apart as a clay-hosted rare earth project. 

“Heavy rare earths are what the Western world needs to secure, and our extraordinary ratios of heavy rare earths underpin what the North Stanmore project offers,” he said. 

“By focusing on these high-value zones, we are working to deliver the same volume of critical defence and high-tech metals to market, while processing less than half the material previously envisaged.

“With dysprosium, terbium, yttrium, scandium, hafnium, lutetium and thulium all confirmed in meaningful quantities, Victory is emerging as a globally significant heavy rare earth and strategic metal supplier.”

Watch: Victory lands prestigious MRIWA research grant

Drilling in the works 

The explorer is now planning a 10,000m drilling program to target these high-value, heavy rare earth zones. 

Areas to the north of the indicated resource include domains that contain RC drill holes that are spaced 750m apart containing world class assays with TREO concentrations up to 10,000 ppm and HREO/TREO ratios up to 80%. 

Bostech drilling has been appointed for the aircore (AC) drilling program. 

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.