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Finance Investment, Oil Mining Resources


Victory Metals Limited (ASX:VTM) 2 mins read

Victory Metals Limited (ASX: VTM) ("Victory" or "the Company") is thrilled to announce significant new discoveries at its 100% owned North Stanmore Rare Earth Element (REE) Project, marking a pivotal advancement in the global rare earth elements market. Recent assay results from the Company's extensive 13,718m aircore (AC) infill drilling program have unveiled world-class ratios of Dysprosium (Dy) and Terbium (Tb) only 8.8km north of the existing Mineral Resource Estimate (MRE), with concentrations up to 9986ppm Heavy Rare Earth Enriched Total Rare Earth Oxide (TREO).

These findings highlight an intersection featuring up to 68% Heavy Rare Earth Oxide (HREO) to TREO and impressive Dy and Tb ratios of up to 7.75% of TREO. Such high-value mineralisation significantly extends Victory's exploration zone by approximately 51km², positioning the North Stanmore project as a potential leader among the world's largest Heavy Rare Earth regolith ionic-clay hosted projects.

The economic implications of these discoveries are profound, as Dy and Tb, key components in advanced technology and renewable energy applications, command prices approximately 900% higher than those of Light Rare Earth Elements like Praseodymium (Pr) and Neodymium (Nd). This price differential underscores the strategic importance of Victory's latest findings.

Over 60% of assay results have been received from 81 AC drill holes, consistently confirming wide, shallow intersections and high TREO grades, with significant highlights including 21m @ 1015ppm TREO from 17m and a peak of 2m @ 8693ppm TREO from 41m, including 1m @ 9986ppm TREO.

The North Stanmore REE Project, already boasting an Inferred Mineral Resource of 250Mt with 130,000T of TREO, is set for substantial growth. The project's high average HREO/TREO ratio of 33%, combined with significant percentages of DyTb and NdPr, positions Victory to capitalize on the increasing demand for heavy rare earth elements.

In addition to the infill drilling program, Victory has identified further rare earth element mineralisation extending the exploration area by approximately 8.8km to the north of the existing MRE. This expansion not only increases the project's potential resource size but also solidifies North Stanmore's standing as a future heavyweight in the heavy rare earth sector.

Victory’s CEO and Executive Director Brendan Clark, commented:

"We are thrilled to announce the latest assay results, confirming the exceptional Dysprosium and Terbium ratios of 7.75% of Total Rare Earth Oxide at our North Stanmore Heavy Rare Earth Element Project. This significant confirmation located 8.8km from our existing MRE, underscores the immense potential of our project." 

"The rapid expansion of our exploration target solidifies North Stanmore's position as a premier Heavy Rare Earth project on a global scale. We are confident that with continued exploration and development efforts, North Stanmore will emerge as one of the largest and most valuable projects of its kind." 

"The value proposition of Dysprosium and Terbium cannot be overstated, with a combined value 900% higher than the most valuable Light Rare Earth Elements Praseodymium and Neodymium. Our latest infill resource definition drilling program has confirmed 348ppm of Dysprosium and Terbium within the MRE area, further validating the significance of our project." 

"In addition to our rare earth discovery, we are pleased to report significant Scandium (“Sc”) anomalism 8.8km north of the MRE area. With Scandium's high value, this discovery adds another layer of value to our project." 

"Our existing MRE confirms North Stanmore as Australia's largest Heavy Rare Earth Ionic-regolith clay hosted project, with a substantial resource base of 250Mt. Our focus remains on low-cost extraction methods to maximise the value of our Heavy Rare Earth Elements." 

Contact details:

Jane Morgan


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