Victory Metals Confirms North Stanmore as a Highly Enriched Heavy Rare Earths Deposit

Victory Metals (ASX: VTM) has returned some of the highest grades of dysprosium on record from clay-hosted systems across the globe with infill aircore drilling at its North Stanmore heavy rare earths (HRE) project in Western Australia.

Assays of up to 218 parts per million dysprosium oxide confirm the project is one of the world’s most unique and strategically important HRE clay deposits.

Results from previous drilling returned more than 550ppm dysprosium oxide and all assays underscore the project’s robust mineralisation scale and continuity.

Unprecedented Enrichment

North Stanmore’s dysprosium assays are approximately 54 times higher than a naturally occurring abundance of dysprosium and terbium in the earth’s upper continental crust, which grades an average 3.5ppm and 0.64ppm.

On that basis alone, Victory’s results represent an “extraordinary enrichment” rarely documented in natural systems and virtually unprecedented in regolith hosted ionic-clay style mineralisation.

This reflects the unique geochemistry of the project’s underlying source intrusion, as well as the effect of oxidation on the mobility of the rare earth elements during intense chemical weathering.

Uniquely Natured Discovery

“To be reporting up to 217ppm dysprosium and 32ppm terbium confirms the unique nature of this discovery,” chief executive officer Brendan Clark said.

“These are two of the most critical and valuable rare earths […] and the results position North Stanmore as one of the world’s most enriched HRE clay deposits without the burden of radioactive elements.”

In August 2025, Victory Metals announced a Mineral Resource Estimate of 320.6 million tonnes for North Stanmore, with the majority of the resource classified in the indicated category.

Valuable Heavy Rare Earths

Dysprosium and terbium are two of the world’s most critical and valuable HRE elements, each indispensable in the manufacture of high-performance neodymium-iron-boron magnets for clean energy and defence technologies.

They are essential for improving the heat resistance and efficiency of these magnets, which form the backbone of EV motors, wind turbines, drones, and advanced military systems.

They both command some of the highest prices of all rare earths, reflecting their scarcity, and their strategic importance has placed them on the list of critical minerals in the US, European Union, Japan, and Australia.

Analysts are forecasting global demand for dysprosium and terbium will surge as China — which currently dominates supply — restricts exports and prioritises its domestic industries.