Perth, Australia – 12 August 2024 | Victory Metals Limited (ASX: VTM) ("Victory" or "the Company") is pleased to announce its recent recognition by the Geological Survey of Western Australia (GSWA) for its recent ionic clay heavy rare earth and scandium discovery near the North Stanmore Alkaline Intrusion north of Cue, Western Australia.
Highlights:
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World-Class Discovery: Victory Metals’ North Stanmore Project has yielded a significant ionic clay deposit that is rich in heavy rare earth elements (HREE), which are essential for the production of critical technologies required to support a clean energy transition.
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Scandium Potential: The Project has revealed substantial scandium resources, which are crucial in the development of lightweight and durable aluminium alloys used in automotive, aerospace, defence and other high-tech industries.
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Presenting at GSWA: Technical Director and renowned geoscientist, Professor Ken Collarson, was hosted by GSWA to present an technical overview and share his insights on the scandium discovery at the North Stanmore Project.
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Strategic Collaboration: Victory Metals’ relationship with GSWA underscores the importance of collaboration between industry and government in promoting Western Australia as a premier destination for exploration investment. Insights shared by VTM help partners like GSWA refine mapping and geoscience data acquisition, supporting future opportunities and discoveries.
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Global Recognition of Ionic Clay Deposits: Ionic clay deposits, such as those found at the North Stanmore Project, are increasingly recognised for their high potential, and Western Australia is emerging as a promising region for these critical resources.
Speaking about this milestone, Brendan Clark, CEO of Victory Metals, stated: "We are honoured by the Geological Survey Department of Western Australia’s recognition of our clay-hosted heavy rare earth project as world-class. This endorsement underscores the significance of our discovery and highlights our commitment to advancing innovation in the rare earths sector. Our team remains dedicated to harnessing the full potential of this groundbreaking project, which we believe will play a crucial role in the future of sustainable technology and resource development."
Brendan Clark
CEO and Executive Director
[email protected]
About us:
About Victory Metals Limited:
Victory Metals Limited is an Australia-based mineral exploration company focused on the exploration and development of its North Stanmore Rare Earth Element (REE) Project in the Cue region. Its key assets include a portfolio of assets located in the Midwest region of Western Australia, approximately 665 kilometres (km) from Perth. Its North Stanmore Ionic Clay REE Discovery is situated within the Company’s 100% owned exploration licence E20/871 and is situated in close proximity to the Cue township and is bordered by the Great Northern Highway on its eastern boundary. The bullseye magnetic anomaly is situated within the North Stanmore exploration licence E20/871 which is 100% owned by the Company. Its projects also include Victory Buttercup, Coodardy Project, Emily Wells Project, Eagle Hawk Project, Klondyke Project, Young Australia Project, Nemesis (Tuckanarra) Project, Mafeking, Monte Carlo and Lady Godiva Project, among others.
Contact details:
Jane Morgan
Jane Morgan Management
Investor & Media Relations
[email protected]