Sydney, Australia, 14 August 2024 – Victory Metals Limited (ASX: VTM) is pleased to announce the submission of a Mining Licence application to the Department of Energy, Mines, Industry Regulation and Safety for its North Stanmore Heavy Rare Earth Element (HREE) project. Located approximately 6 km north of Cue in Western Australia, the project boasts sealed road access via the Great Northern Highway and encompasses an area of approximately 2,006 hectares.
Key Highlights:
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Victory has lodged the Mining Licence application for the North Stanmore HREE Project, marking a significant step in its strategic development plans. The project is recognised as the largest ionic regolith clay-hosted indicated heavy rare earth element resource in Australia.
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The project holds a substantial Mineral Resource Estimate (MRE) of 235 million tonnes, including 79,200 tonnes of Total Rare Earth Oxides (TREO) and 28,000 tonnes of Heavy Rare Earth Oxides (HREO). The near-surface high-grade domain consists of 45.9 million tonnes at 1,050 ppm TREO, reinforcing the potential for rapid development.
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The North Stanmore deposit is contiguous with 92% of Victory’s tenement area, offering significant exploration potential with mineralisation open in all directions.
Victory’s CEO and Executive Director, Brendan Clark, commented:
“Lodging the Mining Licence application for our North Stanmore heavy rare earth project marks a pivotal moment in Victory Metals journey. This step not only confirms our commitment to advancing this world-class resource but also positions us strategically to contribute significantly to the global supply of critical materials essential for the energy transition and national defence. Our focus now is on finalising the scoping study and accelerating partnerships that will potentially bring this project to fruition, ensuring a steady supply of ethically sourced rare earths."
In conjunction with the Mining Licence application, Victory will commence environmental studies, prepare mining proposals, engage with Native Title parties, and seek necessary approvals from relevant authorities.
About us:
About Victory Metals Limited
Victory is focused upon the exploration and development of its Heavy Rare Earth Element (REE) and critical mineral 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 clay REE discovery is rapidly evolving with the system demonstrating high ratios of Heavy Rare Earth Oxides and Critical Magnet Metals NdPr + DyTb.
Contact details:
For further information, please contact:
Jane Morgan
Investor and Media Relations
Email: [email protected]