Victory Metals produces MREC test product with HREO making up 96.4% of the TREO
\nTest product has very high TREO concentration of 12.46% weight (124,600ppm)
\nCopper grading 2.2% reports to MREC while both nickel and cobalt remain in the barren liquor
\nResults confirm North Stanmore\u2019s position as a strategically valuable and important ionic clay hosted REE discovery<\/p>\n
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Victory Metals\u2019 North Stanmore project is emerging as a potential strategic source of highly valuable rare earths after successfully producing a mixed rare earth carbonate (MREC) test product dominated by heavy rare earths.<\/strong><\/p>\n North Stanmore is prized for its logistical advantages, high metallurgical recoveries, high ratios of heavy rare earth oxides (HREO), and location on Crown land in WA\u2019s Cue region.<\/p>\n To top it off, the 250Mt resource grading 520 parts per million (ppm) total rare earth oxide (TREO) \u2013 with valuable HREOs making up 33% of that \u2013 allows Victory Metals (ASX:VTM)<\/strong><\/a> to claim the largest heavy rare earth enriched ionic-clay\/regolith-hosted resource in Australia<\/strong><\/a>.<\/p>\n \u00a0<\/p>\n Critical minerals remain firmly in the global spotlight; just a few weeks ago, Australian Prime Minister Anthony Albanese visited the White House to talk supply strategies with US President Joe Biden.<\/p>\n Shoring up reliable supply chains \u2014 which play an integral part in the green energy revolution \u2014 is paramount as superpowers like China usurp their dominance over these important commodities.<\/p>\n US Commerce Secretary Gina Raimondo says China has the \u201ctechnology and sustained investment\u201d to corner the market, meaning countries like Australia and the US would need to work \u201ca little harder and a little faster\u201d.<\/p>\n As Albanese sees it, there\u2019s opportunity in that challenge: \u201cAs we race towards a more stable supply chain, there\u2019s a moment for us, US and Australia, to partner as it relates to critical minerals to our mutual benefit,\u201d he explained.<\/p>\n About 54% of Victory\u2019s North Stanmore resource is classified as \u2018critical metals\u2019 by the US Government, with valuable magnet rare earths dysprosium and terbium making up 3.6% of the total REE content.<\/p>\n Dysprosium and terbium are facing a predicted supply deficit of 70% by 2030, underscoring their inherent value as the world embraces net-zero technologies.<\/p>\n \u00a0<\/p>\n North Stanmore\u2019s current resource covers just 18% of the drilled area with an exploration target of between 700Mt and 1,100Mt grading 300ppm to 500ppm TREO over the remaining area.<\/p>\n A +13,000m drill program<\/strong><\/a> is underway to upgrade the resource to the higher confidence indicated category, which will provide enough certainty for mine planning.<\/p>\n Results from this program will also contribute to a scoping study planned for early 2024.<\/p>\n \u00a0<\/p>\n VTM\u2019s MREC product produced at laboratory scale from a 50kg sample taken from North Stanfmore has an outstanding HREO to TREO ratio of 96.4%.<\/p>\n Notably, this makes it the first Australian company to report assay results for REE and impurity levels for a MREC test product from an Australian ionic clay-regolith project.<\/p>\n The test product also has a very high TREO concentration of 12.46% weight (124,600ppm) with nickel, cobalt and copper recovered as by-products and is expected to draw an indicated price of $114\/kg.<\/p>\n \u00a0<\/p>\n Mixed rare earth carbonate test product produced from North Stanmore. Pic: Supplied (VTM).<\/p>\n \u00a0<\/p>\n \u201cI am incredibly proud to announce that our dedicated team has successfully produced a high value and high grade heavy rare earth enriched carbonate from 50kg of material from North Stanmore exploration drilling,\u201d chief executive officer Brendan Clark said.<\/p>\n \u201cImportantly, we have produced and shared the chemistry for a MREC test product from an Australian ionic clay REE deposit, which showcases Victory\u2019s technological strengths and demonstrates the potential value in North Stanmore.<\/p>\n \u201cOur assays have reported an impressive HREO to TREO ratio of 96.4%, comprising a high percentage of the highly sought-after REE dysprosium and terbium augmenting our potential premier position in the non-Chinese rare earth market with these two elements forecast to be in at a 70% deficit by 2030.<\/p>\n \u201cWe are also excited about the presence of key lithium-ion battery metals, nickel and cobalt in the liquor which provides further potential economic benefits in the production stage.<\/p>\n \u201cThe production of MREC test product with minimal ammonium sulphate leach times and acid usage supports our commitment to sustainable practices, and further substantiates North Stanmore\u2019s position as a strategically valuable and important ionic clay hosted REE discovery.\u201d<\/p>\n \u00a0<\/p>\n VTM is currently investigating processing options to generate copper, nickel and cobalt by-products within the flowsheet.<\/p>\n Copper was precipitated with the REE and reported to the MREC, which contained 2.2% copper, while most of the nickel and cobalt remained in the barren MREC liquor.<\/p>\n Test work to generate a mixed hydroxide precipitate containing nickel and cobalt \u2013 a nickel intermediate product used as a primary feedstock in the production of nickel sulphate that is crucial to the lithium-ion battery supply chain \u2013 from the barren liquor is underway.<\/p>\n A scoping study is also poised to start in early 2024.<\/p>\n \u00a0<\/p>\n\n \ufeff<\/span>\u00a0<\/p>\n This article was developed in collaboration with Victory Metals, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n \u00a0<\/em><\/p>\n This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n <\/span><\/p>\n The post Victory Metals proves it can recover the heavy rare earths that the US needs<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"The bigger picture<\/strong><\/h2>\n
Room to grow<\/strong><\/h2>\n
Successful test work proves value of North Stanmore<\/strong><\/h2>\n
Current and future activity<\/strong><\/h2>\n