Laboratory Test Unveils Promising Results for Australia's Rare Earths Industry
Victory Metals Limited (ASX:VTM) ("Victory" or "the Company") is delighted to announce the successful production of a mixed rare earth carbonate (MREC) test product from clay samples obtained from the North Stanmore Rare Earth Element Project (North Stanmore or the Project). This landmark achievement underscores the potential of North Stanmore as a strategic resource for the in-demand Dysprosium (Dy) and Terbium (Tb) - critical components in permanent magnets, solidifying Victory's premier position in the non-Chinese rare earth market.
The MREC test product is derived from the North Stanmore drilling samples at a laboratory scale, showcasing a remarkable Heavy Rare Earth Oxide (HREO) to Total Rare Earth Oxide (TREO) ratio of 96.4%.
The MREC test product boasts a high TREO concentration of 12.46% weight (124,600 ppm), indicating a substantial yield of valuable rare earth elements.
An indicative basket price of A$114 per kg for the MREC test product has been estimated, reflecting the high market value of the produced rare earth carbonate.
Successful recovery of critical metals such as Nickel, Cobalt, and Copper as by-products, further elevates the economic potential of the project.
Victory is the pioneer Australian company to report assay results for rare earth and impurity levels from an Australian ionic clay - regolith project, setting a precedence in the industry.
Victory’s CEO and Executive Director Brendan Clark, commented: “I am incredibly proud to announce that our dedicated team has successfully produced a high value and high grade heavy rare earth enriched carbonate from 50kg of material from North Stanmore exploration drilling. Importantly, we have produced and shared the chemistry for a MREC test product from an Australian ionic clay REE deposit, which showcases Victory’stechnological strengths and demonstrates the potential value in North Stanmore.”
"Our assays have reported an impressive HREO to TREO ratio of 96.4%, comprising a high percentage of the highly sought-after REE Dysprosium (Dy) and Terbium (Tb) augmenting our potential premier position in the non-Chinese rare earth market with these 2 elements forecast to be in at a 70% deficit by 2030."
"We are also excited about the presence of key lithium-ion battery metals, Nickel (Ni) and Cobalt (Co) in the liquor which provides further potential economic benefits in the production stage."
"The production of MREC test product with minimal ammonium sulphate leach times and acid usage supports our commitment to sustainable practices, and further substantiates North Stanmore's position as a strategically valuable and important ionic clay hosted REE discovery."