Victory Metals Unveils 29.5% Resource Boost with Record Heavy Rare Earth Ratios
Victory Metals Ltd has announced a substantial upgrade to its North Stanmore Heavy Rare Earth Element Project, increasing the mineral resource by nearly 30% and revealing some of the highest heavy rare earth element ratios recorded in Australia.
- 29.5% increase in Mineral Resource Estimate to 320.6 million tonnes
- Ultra-high heavy rare earth oxide (HREO) to total rare earth oxide (TREO) ratios up to 83%
- High-grade shallow zone of 50 million tonnes at 1,050 ppm TREO + Sc2O3 identified
- Metallurgical testwork shows high recoveries of critical rare earths and scandium
- Resource upgrade to underpin 2025 Prefeasibility Study and funding discussions
Significant Resource Growth at North Stanmore
Victory Metals Ltd (ASX, VTM) has delivered a major boost to its North Stanmore Heavy Rare Earth Element Project in Western Australia, announcing a 29.5% increase in its Mineral Resource Estimate (MRE) to 320.6 million tonnes at 510 ppm TREO plus scandium oxide. This upgrade is the result of a targeted 79 drillhole air-core campaign totaling 3,221 metres, which has not only expanded the resource but also highlighted exceptional heavy rare earth element (HREE) ratios, with some drill holes showing HREO/TREO ratios as high as 83%.
Exceptional Heavy Rare Earth Element Content
Heavy rare earth elements such as Dysprosium and Terbium are critical for advanced technologies, including electric vehicle motors and wind turbines. North Stanmore’s resource stands out for its ultra-high HREO/TREO ratios, significantly above many Australian peers. The project includes a high-grade shallow zone of 50 million tonnes at 1,050 ppm TREO plus scandium oxide, enhancing its economic attractiveness and mining feasibility.
Metallurgical Advances Support Economic Potential
Complementing the resource upgrade, metallurgical testwork conducted by Core Resources and Australian Laboratory Services has demonstrated strong recoveries of key rare earth elements, including 94% recovery of Praseodymium and Neodymium, and over 90% for Terbium and Dysprosium. Scandium oxide recoveries have reached 50%, with ongoing optimization efforts. These results underpin the project's reasonable prospects for eventual economic extraction, particularly given the shallow, saprolite-hosted mineralisation amenable to open pit mining.
Strategic Location and Development Pathway
Located just 6 kilometres from the township of Cue and with excellent road connectivity to Geraldton Port, North Stanmore benefits from strong infrastructure support. Victory Metals plans to use this upgraded MRE as the foundation for its 2025 Prefeasibility Study, which will further define the project's development pathway and support ongoing funding discussions. The company emphasizes a mine life exceeding 30 years based on current resources, with mineralisation remaining open for further expansion.
Respect for Heritage and Environmental Considerations
Victory Metals has paused drilling activities in respect of the Traditional Owners, following the passing of a respected Wajarri Yamaji Elder, and continues to work closely with the community. Environmental factors are being considered as part of future scoping studies, with the project situated in a well-understood mining district with established environmental protocols.
Bottom Line?
Victory Metals’ resource upgrade at North Stanmore sets a strong foundation for its 2025 Prefeasibility Study, but metallurgical optimization and community engagement will be key to unlocking its full potential.
Questions in the middle?
- How will ongoing metallurgical optimization improve scandium recoveries and project economics?
- What are the timelines and funding strategies for advancing the Prefeasibility Study and subsequent development phases?
- How might heritage and environmental considerations influence project scheduling and permitting?
