Victory Metals has set a new exploration target for its flagship North Stanmore rare earths project in Western Australia, cementing the deposit’s ‘world-class’ status.
North Stanmore’s exploration target has been defined as 100–230 million tonnes (Mt) grading 330–600 parts per million (ppm) total rare earths oxide (TREO) plus scandium oxide.
The new exploration target is located outside of North Stanmore’s current mineral resource estimate of 247.5Mt at 520ppm TREO, and is one of four targets Victory believes shows significant potential to deliver further resource growth at North Stanmore.
After completing a 3681m aircore (AC) drilling program in the December 2024 quarter, where the results confirmed high-grade heavy rare earth oxide and scandium mineralisation over an extensive 13.5km strike, Victory is set to commence another AC drilling program.
Comprising 6600m of resource definition drilling across 110 AC drill holes, the program is expected to take place over a four-week period, beginning in early March.
“Victory Metals is excited to commence further resource definition drilling at the North Stanmore project in 2025,” Victory chief executive officer and executive director Brendan Clark said.
“This program will focus on expanding our current resource and targeting additional high-grade zones already identified in the existing MRE. North Stanmore represents a significant opportunity to establish one of the world’s largest clay-hosted projects for heavy rare earth elements, scandium, and hafnium.
“We expect this drilling program to be instrumental in advancing that goal.”
Victory is also advancing its North Stanmore scoping study, which is on-track to be released this quarter.
Clark said demand for heavy rare earth elements like dysprosium and terbium, as well as scandium and hafnium are forecast to increase due being critical components in creating clean energy technology, as well as having a role in the defence and automotive industries.
“(The upcoming drilling) program marks another key step in strengthening Victory’s position as a future rare earth and critical mineral supplier to the global market,” he said.
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