Victory Metals has reported that all assays from the infill reverse circulation drill program at the North Stanmore rare earth element (REE) project continue to support the scale, high-grade, and low radioactive elements of the ionic clay deposit.
The latest results at Victory Metals’ North Stanmore project, combined with previous aircore assays, have confirmed an average grade of 987ppm Total Rare Earth Oxide (TREO) from 219 holes throughout the 34km² area, with mineralisation remaining open in all directions.
Stand-out hits include up to 1.08 per cent or 10,829ppm TREO with 59 per cent valuable Heavy Rare Earth Oxides (HREO), and have returned “very low” contents of radioactive elements like thorium (8.56ppm) and uranium (2.61ppm), which are lower than average upper continental crust levels.
In total, assays from both the aircore and RC drilling programs confirmed high ratios of HREO at 34 per cent and correlate with previously reported aircore drilling, which is expected to reduce further exploration costs.
Victory CEO and Executive Director, Brendan Clark, says the company remains encouraged by the confirmation of outstanding results from the completed drilling programs, which form a very large data set and will be used to complete the initial maiden resource estimate.
“Victory’s drilling programmes have been extensive, and the assay results confirm continuous rare earth element mineralisation throughout the North Stanmore REE Project that provides the company and our resource consultant RSC Mineral Exploration with great confidence,” Mr Clark said.
“The company is excited and looking forward to the initial MRE, which remains on schedule to be reported to the market by the end of June 2023.”
