Victory Metals Limited (ASX:VTM) ("Victory" or "the Company"), today announced encouraging metallurgical test results from the North Stanmore Rare Earth Element Project ("North Stanmore" or the "Project") located 10km north of Cue, Western Australia.
The tests involved a total of 31 AC drill samples, within the pending JORC Resource modelling area, consolidated into ten metallurgical composites representing various geometallurgical domains.
The results demonstrated that North Stanmore clay samples are highly receptive to upstream beneficiation, potentially enabling significant reductions in downstream processing and capital costs per product tonne. With the application of a simple physical beneficiation, it was found that the average Total Rare Earth Oxide (TREO) head grade increased from 1308 ppm to 2192 ppm by rejecting +20 µm coarse material.
Moreover, the assay analysis confirmed that up to 70% of rare earths are contained in the fine -20 µm size fraction, representing only 28% of the total mass. Beneficiation testwork resulted in an average REE upgrade of 68%, with a corresponding REE recovery of 58% and mass rejection of 66%.
Victory’s CEO and Executive Director, Brendan Clark, stated: "Metallurgical beneficiation has led to significant improvements in the plant feed grade of rare earth elements at North Stanmore, with the success of this program proving the high potential to reduce downstream processing and capital costs per product tonne at North Stanmore. In simple terms, by rejecting the +20 µm coarse material not only did Victory’s total rare earth oxide grade (TREO) significantly increase, the testwork program has also demonstrated that 58% of the rare earth concentration can be recovered by only processing 34.7% of the ore.”
He added, “Victory’s initial JORC Mineral Resource Estimate is expected to be reported to the market in the coming weeks, along with these very positive results from this beneficiation testwork program and the excellent metallurgical recoveries that have already been reported, paving the way for an exciting future for Victory and its shareholders.”
Core Resources (“Core”), also shared its enthusiasm for the project's potential. A representative commented: “Core is excited to be working on the North Stanmore project with Victory Metals. The recent beneficiation testwork has shown the potential to substantially increase the grade of rare earth elements in North Stanmore ore with simple physical beneficiation. Core looks forward to continuing the work with Victory Metals to ultimately develop the metallurgical flowsheet for the North Stanmore project.”
Victory is currently in the process of its Stage 2 metallurgical testwork program, which includes flow sheet design to produce a mixed rare earth carbonate (MREC) as the final product.
Victory is focused upon the exploration and development of its Rare Earth Element (REE) and Scandium Discovery in the Cue Region of Western Australia. Victory’s key assets include a portfolio of assets located in the Midwest region of Western Australia, approximately 665 km from Perth. Victory’s Ionic clay REE discovery is rapidly evolving with the system demonstrating high ratios of Heavy Rare Earth Oxides and Critical Magnet Metals NdPr + DyTb.