A further 113 assays from Victory Metals’ North Stanmore project have returned high-grade Rare Earth Element (REE) ionic clay-hosted mineralisation.

The Total Rare Earth Oxide (TREO) grade was up to 5239ppm from the latest drilling program which was over 6.25km north of the initial REE discovery at the project.

Assays also confirmed a valuable Heavy Rare Earth Elements (HREO) ratio of 38% HREO/TREO and critical magnet metals Neodymium and Praseodymium (NdPr) and Dysprosium-Terbium (DyTb) ratio of 21% of total REE’s.

Victory Metals (ASX:VTM) executive director Brendan Clark said the results confirm “a significant rare earth element mineralisation extension at our North Stanmore REE discovery.”

“Combined results from our previous and latest AC drilling program continues to validate high-grade rare-earth mineralisation at significant scale with the latest results being up to 6.25km north of our initial rare earth results giving Victory’s North Stanmore project excellent potential.”

Similarities to major ionic clay deposits

Most of the samples also reported negative Cerium (Ce) anomalies, confirming similarity with global ion adsorption REE regolith deposits.

“Victory’s North Stanmore REE system is clearly emerging as an extremely large regolith hosted ionic clay deposit with the system having a regionally extensive footprint,” Victory’s Technical Consultant Professor Ken Collerson said.

“Assayed samples are identical in Ce variability, a mobile REE during weathering induced mobility, to data reported from other ionic clay REE deposits.

“Specifically, Ce and TREO systematics are identical to behaviours reported from ionic clay hosted REE deposits in China, Madagascar and Brazil.

“Knowledge of these systematics has provided Victory with a significant vector to identify samples for metallurgical testing by leaching.”

Pic: Previously reported REE anomalous drill holes, the latest anomalous drill holes and recently completed AC drilling program and the location of the North Stanmore alkaline mafic to ultramafic Intrusion.

Scandium a valuable bonus

The assays also highlight the extensive continuation of high grade and valuable scandium (Sc2O3) up to 123ppm – an essential element for manufacturing Al-Sc alloys in fighter jets and hydrogen fuel cells with demand growing due to geo-political instability.

“The elevated Nb/Ta ratio of 14.3 and significant HREE enrichment together with anomalous Scandium is consistent with derivation from a mafic alkaline igneous source,” Collerson said.

An RC infill drilling program of approximately 5,000m is planned to commence immediately and is designed for the preparation of a JORC Mineral Resource estimate.

Samples have also been dispatched for metallurgical studies, which will focus on the recovery of scandium along with the other critical metals.




This article was developed in collaboration with Victory Metals Limited, 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.