Victory Metals (ASX:VTM) stamp rare earth footprint at North Stanmore

Victory Metals have confirmed a 34 square kilometre rare earth footprint at its North Stanmore project bordered by the Great Northern Highway near Cue in Western Australia.

The entirety of Victory’s aircore drilling campaign is now reported, bringing in an average grade of 992 parts per million total rare earth oxide against a cut-off of 500ppm, with a high of 10,829ppm, including a 59 per cent ratio of lucrative heavy rare earth oxides.

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The location of AC drill holes with anomalous elements exceeding 200ppm and the wide distribution of highlighted assays.

Assays also demonstrated extensive continuation of high-grade scandium alongside meagre contents of radioactive elements for a rare earth discovery that remains open in all directions.

“Victory is very pleased to report the complete data set for the AC drilling program completed in late 2022, which confirms market-leading average grades of rare earth element mineralisation at North Stanmore,” Victory Executive Director Brendan Clark said.

“Most of Victory’s anomalous rare earth results are negative cerium enriched, giving the Company great confidence in the metallurgical testwork underway as negative cerium enriched deposits are typically known to host significant ratios of heavy rare earth and generally achieve high rates of metal recovery.

“It is outstanding that North Stanmore’s ratios plot is similar and, in some cases, advanced ranges to international rare earth deposits.”

Next Steps

With this dataset, Victory will now focus on bringing in an initial JORC estimate and metallurgical testwork for the second quarter of 2023.

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Victory Metals Limited engages in the exploration and development of mineral properties in Australia. The company explores for rare earth elements and gold deposits. Its flagship project is the North Stanmore heavy rare earth elements, scandium, hafnium, and gallium project located on the north of Cue Region, Western Australia. The company was formerly known as Victory Goldfields Limited and changed its name to Victory Metals Limited in November 2022. Victory Metals Limited is based in Subiaco, Australia.