Highlights
- Significant initial REE assay results confirmed up to 4km from initial discovery1
- Assays are pending over the remainder of the REE anomalous area of approximately 9km²
- Heavy Rare Earth Oxide (HREO) enriched with a HREO/TREO ratio of 34%
- HREO basket price of US$88.11 per/kg which is potentially up to 350% more valuable compared to Light Rare Earth Oxide (LREO) hard rock deposits
- Notable intersections from North Stanmore include:
- 16m at 2155ppm TREO from 21 metres (NSTAC032) including,
- 6m at 4683ppm TREO, and
- 2m at 9681ppm TREO, and
- 1m at 9746ppm TREO from 21 metres
- 32m at 1047ppm TREO from 36 metres (NSTAC004) including,
- 12m at 2038ppm TREO, and
- 8m at 2467ppm TREO from 48 metres
- 12m at 1316ppm TREO from 24 metres (MAFAC019)
- 16m at 800ppm TREO from 36 metres (NSTAC012)
- 13m at 735ppm TREO from 36 metres (NSTAC060) including,
- 6m at 1047ppm TREO from 38 metres
- 6m at 966ppm TREO from 60 metres (NSTAC057)
- 8m at 992ppm TREO from 36 metres (NSTAC016)
- 16m at 2155ppm TREO from 21 metres (NSTAC032) including,
- 1014ppm Average TREO2
- Mineralisation remains open in all directions
- High ratios of critical valuable magnet metals NdPr + DyTb totaling 18.6%
- Scandium (Sc2O3) reported in latest assays exceeds global economic grades, highest 106ppm
- Scandium is essential for manufacturing Al-Sc alloys in fighter jets and hydrogen fuel cells and is in extremely high demand
- A further approximate 10,000m aircore (AC) drilling program to commence immediately
- RSC Mining & Mineral Exploration appointed to commence (JORC) Mineral Resource Estimate
Victory Goldfields (ASX:1VG) ("Victory" or "the Company") is pleased to report the initial results from the recently completed 118 holes AC drill program at the Company's North Stanmore REE project.
Victory's Executive Director Brendan Clark commented: "It is a very exciting time for the Company with the continuation of our Rare Earth Element discovery at North Stanmore that is developing into a project of significant scale"
"Rare Earth Element grades and critical metal ratios at this level, potentially make the discovery one of the most valuable ionic clay hosted rare earth systems compared to our peers based on our high basket price."
"Victory's board has great confidence in these results and has fast tracked a further 10,000m of drilling across the project in search of further REE mineralisation and to infill the previous drilling program"
"The North Stanmore discovery also benefits from direct access to the Great Northern Highway and close proximity to Perth and the Geraldton Port, making the discovery a market leader for its logistical advantages."
