Join our daily newsletter At The Bell to receive exclusive market insights
- Victory Metals (VTM) reports high-grade rare earth element (REE) results from aircore drilling at its North Stanmore project in Western Australia
- Latest results confirmed a ‘significant’ average total rare earth oxide (TREO) grade of 1001 parts per million (ppm) and a peak result of one metre at 5239 ppm TREO
- Victory Metals says aircore drilling has validated high-grade mineralisation at a “significant scale”, with the latest results being up to 6.25 kilometres north of the initial rare earth results
- A 5000-metre reverse circulation drilling program is set to begin to complete a mineral resource estimate for North Stanmore
- VTM shares are up 7.14 per cent to trade at 22.5 cents at 11:40 am AEDT
Victory Metals (VTM) has reported high-grade rare earth element (REE) results from its North Stanmore project in Western Australia.
The company, formerly called ‘Victory Goldfields’, received results from a further 113 samples across 27 holes drilled at the project.
Highlighted results from the latest batch of assays included 32 metres at 1047 parts per million (ppm) total rare earth oxide (TREO) from 36 metres, including eight metres at 2467 ppm TREO from 48 metres, and two metres at 3976 ppm TREO from 52 metres.
The newest results confirmed a ‘significant’ average TREO grade of 1001 ppm from one-metre composite samples, with a peak result of 5239 ppm.
Furthermore, the assays confirmed a heavy rare earth elements (HREO) ratio of 38 per cent HREO/TREO.
Victory Metals also reported a continuation of high-grade and valuable scandium of up to 123 ppm and six metres at 71 ppm from 17 metres.
“What an extraordinary moment for Victory with confirmation of a significant REE mineralisation extension at our North Stanmore REE discovery,” Executive Director Brendan Clark said.
“Combined results from our previous and latest AC drilling program continues to validate high-grade rare earth mineralisation at significant scale with the latest results being up to 6.25 kilometres north of our initial rare earth results, giving Victory’s North Stanmore project excellent potential,” he added.
The company is now set to begin a reverse circulation infill drilling program of 5000 metres to complete a mineral resource estimate for North Stanmore.
VTM shares were up 7.14 per cent to trade at 22.5 cents at 11:40 am AEDT.
