Victory Metals Increases Grades Of Rare Earth Elements At North Stanmore

Victory Metals Ltd (ASX: VTM) has managed to boost the grades of heavy rare earths at its project in Western Australia.

Beneficiation test work increased grades by up to 187% with an average total rare earth oxide (TREO) grade increase of 63%.

This has ramifications for North Stanmore to become one of the largest heavy rare earth regolith ionic-clay hosted projects in the world.

It is located 10 kilometres north of the town of Cue in Western Australia, with direct access to the Great Northern Highway.

The program

The program involved testing samples from different depths from across the Mineral Resource Estimate at North Stanmore.

The test processing was done with simple physical screening, with the average rare earth oxide grades increasing to 1527ppm from 904ppm TREO across samples.

This low-cost technique has shown that 50% of the clay material could be rejected before processing.

Meanwhile, the remaining 50% clay material that hosts the majority, around 70%, of the rare earth mineralisation offers substantial OPEX savings.

It illustrates a substantial enhancement in the concentration of valuable rare earth elements.

North Stanmore currently hosts an inferred resource of 250 million tonnes with 130,000 tonnes of TREO, with this maiden resource delivered in August 2023.

The resource estimate is 700 million tonnes to 1000 million tonnes.

A major infill air-core drilling program covering 13,718 metres was completed in November 2023 with initial results demonstrating significant sections and grades.

This improvement to the grade of the head feed has the potential to significantly benefit an upgraded resource.

Brendan Clark, CEO and executive director, commented:

“With exceptional reported percentages of dysprosium and terbium in addition to neodymium, praseodymium, we have consolidated our view that North Stanmore is becoming a significant player in the magnet rare earth elements sector.

Given predicted growth in demand, scandium recovery will significantly increase the value of rare earth basket extracted from the North Stanmore deposit.”

Not all rare earth elements are rare, light rare earths cerium and lanthanum are of a low value and are in an abundant supply, with a combined price of about A$3.80 a kilogram.

Heavy rare earths dysprosium and terbium have a combined price of around A$3,200 a kilogram.

This highlights the potential of Victory’s rare earth basket.

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