Victory Metals has announced exceptional metallurgical leaching test results at its 100 per cent-owned North Stanmore heavy rare earth project in Western Australia.
Results from recent testing has shown a 48-times increase in the amount of total rare earth oxide (TREO) recovered, with approximately 95 per cent of feed mass rejected. This has seen the amount of TREO recovered increase to 5.9 per cent.
Included in these test results was the delivery of high-value rare earth elements, including 70.9 per cent dysprosium, 70.2 per cent terbium and 75.1 per cent yttrium.
Results were achieved using low acid consumption, with the process described as setting Victory Metals apart from peers due to the typically high-temperatures and high acidic methods used. It’s understood that the process undertaken by Victory also avoids an estimated $1 billion spend in capital expenditure.
“These outstanding test results highlight that the concentrate at North Stanmore is truly something special. There is nothing like it in the Western world, and we expect high demand as a result,” Victory Metals chief executive officer Brendan Clark said in a statement.
“The fact we can separate out the valuable elements without high temperatures and high acid consumption puts us at a significant advantage to peers.”
The test results reported by Victory also point to a potential diversification in supply chains, helping keep up with global demand.
“Yttrium is now being reported with sales in North America surpassing $US1000 per kilogram and, with Victory containing over 23 per cent yttrium in our concentrate and the [yttrium] market being totally controlled by China, this positions Victory as a future leader of the heavy rare earth sector,” Clark said.
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