Victory Metals has unveiled a substantial upgrade to the mineral resource estimate (MRE) for its North Stanmore heavy rare earth elements (HREE) project in Western Australia.
This update, despite being based on minimal infill drilling, has resulted in 71% of the resource now being classified as indicated, and 29% as inferred mineral resources.
The updated MRE was commissioned by Victory Metals and completed by MEC Mining this month.
Drilling to support the MRE comprises 755 drill-holes totalling 42,118m, completed by Victory Metals from 2022 through 2024. This includes 694 air-core drill-holes, 50 reverse circulation drillholes and 11 diamond drill-holes.
The Indicated JORC category now comprises 71% of the overall MRE, totalling 176.5 million tonnes (mt) at 503 parts per million (ppm) total rare earth oxide (TREO), complementing the advanced scoping study.
The overall MRE has been upgraded to 247.5mt at 520ppm TREO, including both indicated and inferred resources.
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By GlobalDataA high-grade near-surface zone has been expanded, providing a strong foundation for North Stanmore’s development. This zone now totals 53mt at 1,012ppm TREO, marking a significant upgrade from the July 2024 MRE.
The project also boasts consistently high heavy rare earth oxide to TREO ratios of 38% in the Indicated category, solidifying North Stanmore’s position in the critical heavy rare earth sector.
The scandium resource has also increased, with growing demand anticipated for its use in solid oxide fuel cells and aluminium-scandium alloys in the aerospace and defence industries.
North Stanmore’s significant strike length of 13.5km establishes it as one of the largest contiguous clay-hosted deposits dominated by heavy rare earths globally, with mineralisation still open in all directions, offering significant exploration potential.
Three stages of metallurgical test work have been completed for the North Stanmore project, focusing on beneficiation and leach test work to establish potential recoveries and processing options.
Victory Metals CEO and executive director Brendan Clark said: “This updated MRE reinforces North Stanmore’s status as a globally significant rare earth resource. With mineralisation remaining open in all directions, the project’s growth potential is significant.
“The expansion of the high-grade zone and an overall mineral resource that has increased to over 247mt, coupled with a 13.5km strike and consistent high heavy rare earth to total rare earth ratios, demonstrates the North Stanmore Project’s potential of becoming one of the largest contiguous clay hosted heavy rare earth enriched deposits in the world.”
“The results from this updated MRE will be incorporated into our very advanced Scoping Study, which we anticipate releasing in Q1 2025, which will provide insights into the economic and technical feasibility of North Stanmore,” he added.
The North Stanmore project is accessible via the Great Northern Highway to Cue, and then via an unsealed road approximately 6km north of Cue.
