Victory Metals (ASX:VTM) has received some of the ‘highest grades’ of dysprosium ever reported from clay-hosted systems globally, after conducting an infill aircore drilling program at the North Stanmore Heavy Rare Earth Element Project in Western Australia.
With recent assay results confirming up to 218 parts per million (ppm) dysprosium oxide, Victory says North Stanmore is emerging as one of the most unique and strategically important heavy rare earth clay deposits worldwide.
By comparison, the average upper continental crustal abundance of dysprosium and terbium are 3.5ppm and 0.64ppm respectively. As such, these recent assays are 54 times higher than the upper crustal abundances.
Victory, which has a market capitalisation of $166.76 million, says the results represent an extraordinary enrichment rarely documented in natural systems and virtually unprecedented in regolith hosted ionic-clay style mineralisation.
The enrichment reflects the “unique” geochemistry of the underlying source intrusion as well as the effect of oxidation on the mobility of the rare earth elements during intense chemical weathering.
CEO Brendan Clark says these latest results confirm the unique nature of this discovery.
“These results position North Stanmore as one of the world’s most enriched heavy rare earth clay deposits, and critically, they come without the burden of radioactive elements,” Clark says.
“This sets Victory apart not only in Australia but on the global stage. Dysprosium and terbium are the irreplaceable heavy rare earths essential for permanent magnets, defence technologies and next-generation electrification.
“The world is desperate for secure, sustainable, western-aligned supply and Victory is proving that North Stanmore can deliver with producing 94% purity mixed rare earth oxide.”
Victory Metals is a rare earths and critical minerals explorer based in Perth, Western Australia.
Write to Aaliyah Rogan at Mining.com.au
Images: Victory Metals
