Victory Metals Limited (ASX: VTM) has announced a significant milestone in Australia’s mining sector with groundbreaking metallurgical recoveries of critical magnet metals at its North Stanmore Project in Western Australia.
Achieving an exceptional recovery rate of 93 per cent, the results set a new benchmark in the rare earth sector and position North Stanmore as a leader in Australia’s critical minerals landscape.
The recent leach tests conducted on beneficiated samples showcased remarkable recoveries of Praseodymium (Pr), Neodymium (Nd), Terbium (Tb), and Dysprosium (Dy).
These high-purity elements are integral to advanced technological applications, including renewable energy solutions and electronic devices.
Utilising a Magnesium Sulphate (MgSO4) wash, the tests achieved these outstanding results within a notably short leach time of four hours.
Brendan Clark, CEO and Executive Director of Victory Metals expressed his excitement about the project’s progress, stating: “I am immensely proud of our team’s achievements in positioning the North Stanmore rare earth discovery as a leading Australian critical mineral project.
“Our project continues to deliver exceptional results, offering commercial advantages that potentially exceed hard rock deposits.”
Clark added: “We eagerly anticipate upcoming milestones, including an upgraded resource and scoping study, which will further demonstrate the project’s viability.
“With its unparalleled ratios of critical heavy rare earth elements and associated by-products, such as scandium, copper, cobalt, and nickel, North Stanmore holds immense promise for the future.”
The metallurgical results have further enhanced the project’s appeal by confirming low levels of deleterious radioactive elements such as uranium and thorium.
This provides North Stanmore with significant advantages in terms of product safety and transportation.
Moving into the scoping study phase, Victory Metals continues to advance its operations with additional test work aimed at further optimising recovery rates and exploring the recovery of additional by-products like Scandium Oxide (Sc2O3), valued at approximately $1300/kg.
Victory Metals remains committed to contributing to the global supply chain of rare earth elements and critical materials, ensuring sustainability and innovation in technology and manufacturing sectors worldwide.
