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- Victory Goldfields (1VG) confirms widespread rare earth element (REE) mineralisation at its North Stanmore project in WA
- The intersections are thick, high-grade and confirm the continuity of the mineralisation over at least one kilometre
- Up to 2414 parts per million total rare earth oxide was intersected as well as 1.7 g/t gold
- These latest results extend towards Victory’s alkaline intrusion that lies 3.5 kilometres to the north and is prospective for gold and nickel-copper-platinum group elements
- 1VG shares are up 3.77 per cent and trading at 27.5 cents at 1:46 pm AEST
Victory Goldfields (1VG) has confirmed widespread rare earth element (REE) mineralisation at its North Stanmore project in WA.
The intersections are thick, high-grade and confirm the continuity of the mineralisation downhole and between holes over at least one kilometre.
Notable results include four metres at 2414 parts per million (ppm) total rare earth oxides (TREO) from 28 metres, eight metres at 1876 ppm TREO from 24 metres and four metres at 1745 ppm TREO from 64 metres.
Additionally, gold occurrences grading up to 1.7g/t were encountered as well as a high ratio of neodymium and praseodymium (NdPr) and dysprosium and terbium (DyTb).
These latest results extend towards Victory’s alkaline intrusion that lies 3.5 kilometres to the north and is prospective for gold and nickel-copper-platinum group elements.
“Victory’s technical team believes the company’s discovery could become a large, rare earth system based on the latest assay results and confirmation that the alkaline intrusion has the same ratios of HREO/TREO as the clay hosted system 3.5 kilometres to the south,” Executive Director Brendan Clark said.
“The outlook is very promising as the company also anticipates that the reported assay results will improve from future drilling activities as both the drilling and sample collection method for this program were initially designed for gold exploration and not for the collection of REE-bearing samples.”
Victory was up 3.77 per cent on the market with shares trading at 27.5 cents at 1:46 pm AEST.
