Victory Metals' latest drilling success

Victory Metals (ASX:VTM) has completed a 3,681-meter Air Core drilling program at the North Stanmore Heavy Rare Earth Elements Project in Western Australia. High-grade rare earth oxide and scandium mineralization have been identified over a 13.5 km strike. Approximately 65% of assay results have confirmed the project's significance.

Strategic implications and future outlook for Victory Metals

Victory Metals has successfully advanced its North Stanmore project, identifying significant rare earth mineralization. The project now hosts one of Australia's largest indicated HREE-dominant resources, with an updated Mineral Resource Estimate expected by December 2024. The company aims to become a key global supplier of ethically sourced heavy rare earths, crucial for energy and technology sectors. The project also presents a significant opportunity in scandium supply. Future plans include further drilling and metallurgical test work to complete a scoping study by Q1 2025. Victory Metals positions itself as an alternative source of rare earths, enhancing global supply chain security.

Executive commentary on drilling results

The latest drilling campaign has revealed rare earth mineralization extensions both to the north and south of the existing Mineral Resource Estimate (MRE) area. Notable drill highlights include TREO concentrations of up to 2700 ppm and HREO to TREO ratios reaching as high as 75%.