- Write by:
-
Friday, August 16, 2024 - 17:34:26
-
66 Visit
-
Print
Victory Metals’ recently declared ‘world class’ North Stanmore heavy rare earth elements (HREE) project in Western Australia is set for expansion.
An approximately 5000m aircore drill program is set to commence in September, with more drilling on the horizon.
The program will focus on areas of the North Stanmore tenure adjacent to the existing mineral resource estimate (MRE), which was recently increased to 235 million tonnes, and up to 9km north.
Victory is confident significant MRE growth potential exists for the area, with mineralisation open in all directions and 92 per cent of the North Stanmore tenement area currently unexplored.
Recently declared a ‘world-class’ discovery by the Geological Survey of Western Australia, Victory hopes the project will form a key part of the global drive to identify new, ethically sourced HREE supply option.
“This relatively low-cost program delivers us clear potential to substantially expand what is already a world-class HREE deposit,” Victory executive director and chief executive officer Brendan Clark said.
“Success in this program could place Victory towards the absolute forefront of global HREE industry significance.”
The North Stanmore project progressing at pace, with the recent submission of a mining licence application and an advancing scoping study underway.
“(Drilling) will be undertaken in parallel with our current base-case advancement of the North Stanmore project,” Clark said.
“The recently updated MRE confirmed our already superb mineral endowment there.
“We recently lodged a mining licence application based on this MRE, and the near-surface high-grade domain it contains.
“We believe the scoping study currently in progress will enunciate the clear potential of this resource to deliver future Australian production of high-value, critical materials required for the global energy transition, defence industries and beyond.”
Short Link:
https://www.miningnews.ir/En/News/628872
Mining News Pro - Lynas Rare Earths has kicked off construction of its Kalgoorlie processing facility in Western ...
Mining News Pro - The rare earth sector is likely to face more substitution unless production ramps up sharply to close ...
Mining News Pro - Ionic Rare Earths CEO Tim Harrison has told Mining Weekly about the company’s main priorities for the ...
Mining News Pro - Lynas Rare Earths has enjoyed record-high rare earths prices during the March quarter as the market ...
Mining News Pro - China may ban the export of rare-earths refining technology to countries or companies it deems as a ...
Mining News Pro - Rainbow Rare Earths has completed an auger drilling programme at the Phalaborwa rare earths project, ...
Mining News Pro - Rainbow Rare Earths has completed an initial due diligence of the Phalaborwa rare earths project, in ...
Mining News Pro - A bipartisan, federal response is required for the United States to compete with China’s ownership of ...
Mining News Pro - Geomega Resources, a rare earth clean technologies developer, and USA Rare Earth, the funding and ...
No comments have been posted yet ...