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PROJECT|Drilling
PROJECT|Drilling
project|drilling

North Stanmore advances as heavy rare earth clay deposit

16th January 2025

By: Creamer Media Reporter

     

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ASX-listed Victory Metals on Thursday announced a significant resource upgrade for its North Stanmore heavy rare earth elements (HREE) project in Western Australia.

Despite being a minimal infill drilling programme, the phase has delivered a significant upgrade, with 71% of the resource now classified as indicated, totalling 176.5-million tonnes at 503 parts per million (ppm) total rare earth oxide (TREO).

The overall mineral resource has been upgraded to 247.5-million tonnes at 520 ppm TREO.

“With mineralisation remaining open in all directions, the project’s growth potential is significant,” said Victory CEO and executive director Brendan Clark.

“The expansion of the high-grade zone and an overall mineral resource that has increased to over 247-million tonnes, coupled with a 13.5 km strike and consistent high heavy rare earth to total rare earth ratios demonstrates the North Stanmore project’s potential of becoming one of the largest contiguous clay hosted heavy rare earth enriched deposits in the world,” he added.

Clark noted that North Stanmore also had a significant scandium resource, pointing out that prices for the critical mineral exceed $1 300/kg.

Edited by Creamer Media Reporter

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