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Finance Investment, Oil Mining Resources

Victory Metals Limited (ASX:VTM) – REE GRADES SIGNIFICANTLY INCREASE FROM LOW COST METHOD

Victory Metals Limited (ASX:VTM) 3 mins read

Victory Metals Limited (ASX:VTM), an ASX listed Rare Earth Element (REE) and critical minerals explorer, is proud to announce a major breakthrough in the processing of Rare Earth Oxides (REOs), demonstrating significant increases in TREO grades through a simple yet effective physical screening technique. This development marks a significant step forward in the mining and processing of these essential minerals, offering potential for considerable operational expenditure (OPEX) savings and enhanced mineral resource estimates.

Key Highlights of the Screening Technique:

  • The application of the screening technique resulted in TREO grade increases of up to 187%, with an average increase of 63% across various samples.
  • This method allows for the rejection of 50% of the clay material before processing, concentrating 70% of the Rare Earth mineralization in the remaining material.
  • Average TREO grades across samples have risen from 904ppm to 1527ppm.

Significant Results from Sample Analysis:

  • Hole 1F184 from 52m: TREO grade increased by 187%, TREY increased from 493ppm to 1412ppm.
  • Hole IF236 from 29m: TREO grade increased by 114%, TREY increased from 1619ppm to 3466ppm.
  • Hole IF167 from 39m: TREO grade increased by 136%, TRY increased from 1844ppm to 4353ppm.

In addition to these remarkable grade improvements, Victory has developed proprietary Intellectual Property (IP) to further enhance the leachability potential of the minerals processed. The company's advancements have not only optimized TREO grades but also improved the ratios of magnet Rare Earth Elements (REEs) such as Neodymium (Nd), Praseodymium (Pr), and high-value Dysprosium (Dy) and Terbium (Tb), with NdPr averaging 30% TREO. Furthermore, Scandium Sc2O3, a critical element in heavy rare earth-rich regolith deposits, has seen a 56% increase.

These breakthroughs are set to significantly benefit the Mineral Resource Estimate (MRE) for the North Stanmore Rare Earth Element Project, located approximately 10km north of Cue, Western Australia. The project, with direct access to the Great Northern Highway, incorporates an Inferred Mineral Resource of 250Mt with 130,000T of TREO.

The successful beneficiation test work, conducted by Core Resources, Brisbane, with sample analysis by ALS Laboratory Brisbane, tested samples from different depths across the MRE at North Stanmore. This initiative is part of Victory's ongoing efforts to optimize the separation of REE regolith-clay material upfront, employing a low capital expenditure (CAPEX) and OPEX methodology prior to the processing stage.

Victory Metals Limited's latest achievements in the beneficiation of Rare Earth Oxides promise to enhance the economic viability of the North Stanmore project and contribute to the sustainable and efficient extraction of these vital resources.

Victory’s CEO and Executive Director Brendan Clark, commented: “These results not only exceed expectations but also underscore the exceptional potential of North Stanmore. They demonstrate the important role of basic geochemical research and metallurgical testwork to improve our understanding the influence of oxidation on Rare Earth Element systematics in ionic clay-regolith Rare Earth systems.”

“The adoption of upstream beneficiation is proving to be strategically sound. This approach involves initially separating optimised Rare Earth regolith-clay fractions to improve leaching efficiency. It sets a strong foundation for subsequent processing stages whilst further reducing impurities like aluminium and iron and substantially reducing reagent consumption.”

“With the overall Rare Earth Oxide average head grade jumping from 904ppm to 1527ppm from the samples selected post-screening, it illustrates a substantial enhancement in the concentration of valuable Rare Earth Elements at North Stanmore.”

“With exceptional reported percentages of Dysprosium ("Dy") and Terbium ("Tb") in addition to Neodymium (“Nd”), Praseodymium (“Pr”), we have consolidated our view that North Stanmore is becoming a significant player in the magnet Rare Earth elements sector.”

"On a commercial scale, separation techniques via screening or hydrocyclone are proving to be simple technologies to effectively remove non-target elements in the coarse fraction while preserving the high value <53µm size fraction, which contains the majority of rare earth elements."

“In view of predicted growth in demand, Scandium recovery will significantly increase the value of Rare Earth basket extracted from the North Stanmore deposit.”

“This latest data has the potential to significantly benefit our upgraded Mineral Resource Estimate (MRE).”


About us:

Victory Metals Limited (ASX:VTM) is an ASX listed Rare Earth Element (REE) and critical minerals explorer based in Perth, Western
Australia.


Contact details:

Jane Morgan

jm@janemorganmanagement.com.au

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