Victory Metals (ASX:VTM) has a clear path forward at its North Stanmore Heavy Rare Earths Project in Western Australia after confirming there is no threat to flora or fauna from its proposed development.
The company has completed comprehensive baseline studies across flora, fauna, surface water, ground water, soils and waste characterisation.
These studies were undertaken by multiple expert consultancy firms, with no threatened flora or ecological communities recorded within the project area.
The studies also confirmed surface water flows were consistent with regional norms and manageable through standard practices.
Meanwhile, groundwater studies confirm the project will not impact the drinking water supply to the town of Cue because no surplus water generation will be required.
CEO Brendan Clark says the baseline environmental studies are an important step in de-risking the project, and the results are “highly encouraging”.
“To confirm no threatened flora or ecological communities and no major fauna constraints across our project area gives Victory a clear path forward from an approvals perspective,” he says.
“This reinforces North Stanmore as one of the most strategic and development-ready heavy rare earth clay projects in Australia.”
Clark says Victory remains focused on progressing the Prefeasibility Study at a rapid pace, advancing funding discussions, and ensuring the company develops responsible, sustainable mining practices.
Victory last week inked a non-binding letter of intent with Sumitomo Corporation (TYO:8053) to advance offtake discussions for the North Stanmore project.
The pair are investigating the potential for Victory to supply up to 30%, or 1,000 tonnes, of the mixed rare earth carbonate produced each year from the North Stanmore project for an initial five year term.
The project hosts a resource of 320.6 million tonnes, with the majority of that in the higher confidence indicated category.
Write to Angela East at Mining.com.au
Images: Mining.com.au & Victory Metals
