Initial results from the recently completed 118 aircore drill program at North Stanmore has returned REE assays grading an average 1014ppm TREO, as well as scandium – which exceeds global economic grades with the highest being 106ppm.

The North Stanmore project, near the Cue township in Western Australia, is rapidly developing to the south of the alkaline intrusion with the exploration area now totalling around 65km2.

Notable REE grades within this area include up to 9746ppm, high ratios of critical valuable magnet metals neodymium, praseodymium (NdPr) + dysprosium, terbium (DyTb) totalling 18.6% and HREO/TREO ratio of averaging 34%.

These elements support roughly half the world’s advanced technologies and are essential elements in the manufacture of electric vehicle motors and wind turbines – two of the fastest industries of today’s global economy.

There’s a couple of kilos of rare earths magnets in every EV, and about a tonne in every MW of power produced by wind turbines

REE results AND scandium

Best intersections include 16m at 2155ppm TREO from 21m, including 6m at 4,683ppm TREO, 32m at 1047ppm TREO from 36m, including 12m at 2038ppm TREO, and 12m at 1316ppm TREO from 24m.

As well as rare earths, Scandium – which is an important element for military applications like fighter jets, is in extremely high demand and has also been discovered at North Stanmore with grades up to 106ppm.

‘One of the most valuable ionic clay hosted rare earth systems’

“It is a very exciting time for the company,” Victory Goldfields (ASX:1VG) executive director Brendan Clark says.

“Rare earth element grades and critical metal ratios at this level, potentially make the discovery one of the most valuable ionic clay hosted rare earth systems compared to our peers based on our projected high basket price.

“Victory’s board has great confidence in these results and has fast tracked a further 10,000m of drilling across the project in search of further REE mineralisation and to infill the previous drilling program,” Clark adds.

What’s next?

Due to the promising results, 1VG has now expedited a 10,000m AC drill program which will begin in the coming week.

The program is designed to infill the existing drilling campaign and to expand the REE mineralization area to the North, South, East and West.





This article was developed in collaboration with Victory Goldfields, 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.