Victory Metals Limited’s (ASX:VTM) latest assay results from the infill Reverse Circulation (RC) drill programme at the Company’s North Stanmore REE project continue to support the high grade, scale and low radioactive elements of this ionic clay deposit.
The North Stanmore REE Project is located approximately 10km north from the town of Cue, Western Australia and bordered to the east by the Great Northern Highway.
The completed RC drilling assays combined with previously reported AC drilling assays define an average total rare earth element oxide (TREO) grade of 987ppm and significant content of the valuable heavy rare earth element oxides (HREO) totalling 34% (HREO/TREO). Importantly, the results have provided confirmation of the continuity of the REE system that was originally identified by Air Core drilling. Refer to Appendix for full results.
“We remain very encouraged with the confirmation of outstanding results from our completed AC and RC drilling programmes that now form a very large data set that will be used to complete our initial maiden JORC Mineral Resource Estimate,” CEO, Brendan Clark, said.
“Victory’s drilling programmes have been extensive, and the assay results confirm continuous rare earth element mineralization throughout the North Stanmore REE Project that provides the Company and our resource consultant RSC Mineral Exploration with great confidence.
“The company is excited and looking forward to the initial MRE which remains on schedule to be reported to the market by the end of June 2023.”
RC Drilling Programme
Victory commenced a 50 hole, 3,139m drilling programme in mid-January 2023 that was completed in early February 2023.
The drill programme was designed as an infill drill programme to the company’s previous AC drilling programmes targeting the area to the south of the North Stanmore discovery where the initial mineral resource estimate (MRE) (JORC 2012) is currently in progress and due to be reported by the end of June 2023.
The initial AC drilling programmes had approximately 900m line spacing and approximately 100m drill hole spacing. The (RC) drilling programme had 450m line spacing and approximately 100m to 250m drill hole spacing within the same footprint of the initial AC drilling.
The RC drilling programme was designed to confirm continuity between the previous AC drill holes and these latest assays confirm excellent continuity between the two drilling methods that is expected to provide further confidence in the MRE.
For further information please visit: https://www.victorymetalsaustralia.com/
