Victory Metals Limited has today announced the results of its recent metallurgical test work conducted on the North Stanmore Rare Earth Element (REE)Project — situated 10 kilometres north of Cue, Western Australia.
The optimised mixed rare earth carbonate metallurgy concentrate from North Stanmore has shown great proportions of dysprosium (Dy) and terbium (Tb), with Dy constituting 73.6 per cent and Tb 10 per cent of the concentrate.
This composition contrasts with the figures from the commissioning Serra Verde, Pela Ema Project mixed REE concentrate product — which contains 9.4 per cent Dy and 1.6 per cent Tb.
Victory Metals said the increase highlights the North Stanmore’s Project’s potential to become a leading supplier of these critical materials, which are essential for high-tech and green energy applications.
Victory Chief Executive Officer and Executive Director Brendan Clark said: “These positive metallurgical test results, and the fact that Victory has already produced a mixed rare earth element carbonate test product, are expected to work towards an upgrade of the company’s JORC Mineral Resource Estimate (MRE) from inferred to the higher confidence indicated category.
“The MRE upgrade is advancing with drill assays being reported on time, further progressing Victory’s activities towards the company’s vision of becoming a low-cost producer of the heavy rare earths, in particular, dysprosium and terbium that are critical elements for both the renewable energy transition and defence sector and which have a restricted supply chain, currently dominated by China.”
In addition to its rich REE content, the North Stanmore Project has demonstrated the potential for low-cost recovery of REEs.
Metallurgical test work on a representative set of 23 samples from the project’s heavy rare earth-rich ionic clay-regolith has confirmed the feasibility of extracting REEs at low cost, with key unit operating costs being notably competitive.
The consumption rate of sulphuric acid (H2SO4), a primary reagent in the extraction process, averages 25kg/t, equivalent to $5.77/t, furthermore, the forecast reagent costs for the removal of gangue materials such as aluminium and iron are $4.32/t and $2.64/t — respectively.
An additional advantage of the North Stanmore Project is its low levels of deleterious radioactive elements, such as uranium and thorium, which simplifies processing and product transport management, thereby reducing operational expenses.
The unique character of the North Stanmore REE project is attributed to the effect of multiple tropical weathering events experienced by the approximately two billion-year-old alkaline source intrusion.
This weathering history has enriched the project with a high average HREO/TREO ratio of 33 per cent, and significant percentages of combined dysprosium and terbium and neodymium and praseodymium, totalling 3.6 per cent and 21.5 per cent TREO respectively.
To further the project’s development and ensure its success on the global stage, Victory has appointed a Head of Strategic Relations. This role is dedicated to cultivating and maintaining relations with local, federal, and international governments, industry, and key stakeholders.