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Victory Metals (ASX: $VTM) achieves low-cost recovery of rare earth elements

Victory Metals (ASX: $VTM) announces successful rare earth element recovery


Victory Metals Limited (ASX: $VTM) has announced the successful results of follow-up metallurgical testwork on a set of 23 samples taken from the North Stanmore Rare Earth Element Project. The project, located approximately 10km north from the town of Cue, Western Australia, has demonstrated significant proportions of Dysprosium and Terbium, with a high average HREO/TREO ratio of 33% and an Inferred Mineral Resource of 250Mt at 520ppm TREO.

Executive commentary on North Stanmore project


The increasing global demand for heavy rare earth elements, coupled with Victory's high ratios of heavy rare earth oxide to total rare earth oxide, exceptional metallurgical recoveries, and low processing unit costs for key reagents, enhances the commercial viability of the North Stanmore Project. These positive results are expected to work towards an upgrade of the Company's JORC Mineral Resource Estimate from inferred to the higher confidence indicated category. The Company's vision of becoming a low-cost producer of the Heavy Rare Earths, particularly Dysprosium and Terbium, aligns with the increasing demand for these critical elements in the renewable energy transition and defence sector.

Summary of North Stanmore project and outlook


The North Stanmore Rare Earth Element Project has achieved low-cost recovery of rare earth elements, with significant proportions of Dysprosium and Terbium. The Company's ambitions to become a low-cost producer of Heavy Rare Earths, particularly Dysprosium and Terbium, are supported by the exceptional metallurgical recoveries and low processing unit costs for key reagents. The appointment of Alannah MacTiernan as Head of Strategic Relations reflects the Company's strategic efforts to promote the North Stanmore Heavy Rare Earth Project to local, federal, and international governments. With further metallurgical test work and the commencement of a project study, Victory Metals is poised to advance its position as a key global supplier of Heavy Rare Earth Elements.

Sourcehttps://announcements.asx.com.au/asxpdf/20240206/pdf/06041mnjrk2fgk.pdf

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