Victory Metals (ASX:VTM) has recorded ‘high-grade’ rare earth elements (REEs) following an aircore (AC) drilling program at its North Stanmore REE Project in Western Australia.
The results, generated from aircore hole NSE028, have returned grades of up to 1.01% (10,100 parts per million) (ppm) total rare earth oxides (TREO) with a ‘significant’ heavy rare earth oxide (HREO) to TREO ratio of 79%.
The company says these assays further expand its footprint by almost 3km to the east of the existing REE discovery and remain open in all directions.
Victory Metals notes results are described as ‘significant’ as they were returned from in the basement rock at depth of 57m to 60m below surface, as well as beneath the clay rich regolith hosted mineralisation previously reported at the project.
Following the return of these results, additional samples have been taken from hole NSE028 from below the ‘significant’ assay result and are being expedited to the laboratory for analytical assessment. Results returned to date bring the total assays received by the company from its AC drilling programs to 58%.
Speaking on the results, Victory Metals Executive Director Brendan Clark says: “We are constantly learning more about the North Stanmore Rare Earth project and it is extremely exciting that this highlight totalling 1.01% TREO is within the basement rock below the clay rich regolith and potentially relating to the primary source of the Rare Earth Elements that we have identified in the clays.
Heavy Rare Earth ratios totalling 79% are almost unheard of, making the story at North Stanmore very unique.
“North Stanmore is developing into a very large system and these results provide an additional exploration prospect in search of the source of the Rare Earths we have identified…”
North Stanmore is developing into a very large system and these results provide an additional exploration prospect in search of the source of the Rare Earths we have identified throughout the clay portion of the project.
The company will utilise the samples on hand that have not been assayed to further understand this incredible anomaly by using traditional analytical processes and state of the art for mineralogical characterisation.”
The company also notes results demonstrate high dysprosium (Dy2O3) and terbium (Tb4O7) grades up to 551ppm and 83ppm respectively, and are reported to share similarities to average values reported from Browns Range, which is owned by Northern Minerals (ASX:NTU).
Victory Metals also reports provisional technical interpretation suggests that the saprock hosted REE anomalism shows potential to be a hydrothermal system.
Further assays from the AC, reverse circulation (RC) and diamond drilling (DD) program are expected to be received in batches through Q1 2023.
Victory Metals is an ASX-listed mineral exploration company focused on the exploration and development of its REE and Scanadium Discovery in Western Australia’s Cue region. The company’s North Stanmore project is located in the Cue goldfields of Western Australia about 665km from Perth, and represents a rapidly evolving project with high ratios of HREOs and critical magnet metals.
Other assets surrounding the North Stanmore project and included within the company’s exploration arsenal include the Emily Wells, Young Australia, Buttercup, Mafeking, Coodardy, and Eaglehawk projects.
Images: Victory Metals Ltd
