VTM mentioned in Rat's Rant 14/07/23 (please dyor):VTM - Victory...

VTM mentioned in Rat's Rant 14/07/23 (please dyor):

VTM - Victory Metals Limited today closed up 15% to finish at 31.5c on $730k stock traded. There was no news out today but last Thursday they announced they received further successful metallurgical test results from the North Stanmore Rare Earth Element Project located in WA.

The average TREYO head grade across 31 samples increased from 1308 ppm to 2192 ppm through rejecting +20 µm coarse material.

The rejection of low-grade ore and subsequent increase in downstream REE feed grade is likely to significantly reduce operating and capital costs for the overall circuit.

Victory is anticipating to receive its initial JORC mineral resource estimate in the coming weeks (as per last announcement).

I chatted with the boss Brendan briefly today, let's just say he's pretty keen to gte this JORC out and start being able to talk to it (can't be long now mate).

Some details on last week's news are listed below:

RARE EARTH FEED GRADES INCREASED BY UP TO 148%

• Metallurgical beneficiation testwork shows North Stanmore clay samples are highly amenable to upstream beneficiation, which has the potential to significantly reduce downstream processing costs and capital costs per product tonne.
• Average TREYO head grade across 31 samples increased from 1308 ppm to 2192 ppm through rejecting +20 µm coarse material.
• Size by assay analysis shows that up to 70% of rare earths are hosted in the fine -20 µm size fraction, in as low as 28% of the total mass.
• Beneficiation testwork on a composite of 31 samples from within the pending initial JORC Mineral Resource Estimate area shows rejecting the +20 µm coarse fraction results in an average REE upgrade of 68%, with corresponding REE recovery of 58% and mass rejection of 66%.
• Stage 2 metallurgical testwork program is well underway which includes flow sheet design to produce a mixed rare earth carbonate (MREC) as the end product.

Victory’s Chief Executive Officer and Executive Director Brendan Clark, commented:

“Metallurgical beneficiation has led to significant improvements in the plant feed grade of rare earth elements at North Stanmore, with the success of this program proving the high potential to reduce downstream processing and capital costs per product tonne at North Stanmore.”

“In simple terms, by rejecting the +20 µm coarse material not only did Victory’s total rare earth oxide grade (TREO) significantly increase, the testwork program has also demonstrated that 58% of the rare earth concentration can be recovered by only processing 34.7% of the ore”.

“Victory’s initial JORC Mineral Resource Estimate is expected to be reported to the market in the coming weeks, along with these very positive results from this beneficiation testwork program and the excellent metallurgical recoveries that have already being reported paving the way for an exciting future for Victory and its shareholders”.