Victory Metals has unlocked a rare metallurgical feat at North Stanmore, achieving a globally top-tier 72% heavy rare earth ratio and unveiling a second revenue stream from zircon-hafnium concentrate using a low-cost gravity separation process.
- 72% heavy rare earth oxide ratio in pre-concentrate
- New zircon-hafnium concentrate with scandium credits
- Heavy Liquid Separation upgrades heavy rare earths 21.5x
- Two products from one low-cost process
- Metallurgical program to optimise recovery and grades
Exceptional Heavy Rare Earth Concentration from Coarse Ore
Victory Metals Limited (ASX:VTM) has reported a breakthrough at its North Stanmore Heavy Rare Earth Project in Western Australia, delivering a 72% heavy rare earth oxide (HREO) to total rare earth oxide (TREO) ratio in a pre-concentrate. This ratio ranks among the highest globally for clay-hosted deposits and was achieved through a simple, low-cost Heavy Liquid Separation (HLS) process applied to coarse-grained ore previously considered a processing liability.
The coarse fraction (-1000 +300 µm) yielded a pre-concentrate band (+3.0 to -3.5 specific gravity) that upgrades heavy rare earths from 286 ppm to 6,161 ppm, a 21.5-fold increase, while representing just 1.9% of the mass. This HLS step also produced a zircon-rich heavy mineral fraction (+3.5 SG) containing elevated levels of zirconium (3.14%), hafnium (697 ppm), and scandium (up to 398 ppm), effectively creating a second high-value product stream.
Two Revenue Streams from One Gravity-Based Process
Victory’s CEO Brendan Clark emphasised the significance of generating two saleable products from a single, low-cost separation step with negligible additional cost. The zircon concentrate, enriched with strategic elements like dysprosium, terbium, yttrium, scandium, and hafnium, transforms what was once a processing challenge into a standalone revenue source. This development is poised to enhance the project’s economics without requiring extra mining or drilling.
Clark highlighted that the pending Pre-Feasibility Study (PFS) does not rely on this new revenue stream, positioning the zircon-hafnium product as upside potential. The company’s process IP and mineralisation are entirely non-Chinese, which could be a strategic advantage amid global supply chain realignments for critical and defence metals.
Metallurgical Test Work Confirms Selectivity and Grade Upgrades
The HLS test work, conducted on multiple size fractions, consistently showed that the +3.0 to -3.5 SG band captures a disproportionate share of heavy rare earths, up to 41% of all HREE in just 1.9% of the coarse fraction mass. The +3.5 SG band, increasingly significant in finer fractions, concentrates zircon and hafnium minerals with scandium credits, while maintaining low levels of radioactive elements, allowing bulk shipment without special containment.
This breakthrough builds on earlier flotation and leaching advances, reinforcing North Stanmore’s potential as a major supplier of critical rare earths. It complements previous reports of a 48x rare earth upgrade via flotation and a 26x hafnium grade boost through gravity separation, positioning Victory Metals well ahead in processing innovation and resource quality at North Stanmore. The company’s recent 48x rare earth upgrade and 26x hafnium grade boost underscore this momentum.
Next Steps in Metallurgical Development and Economic Evaluation
Victory plans a focused metallurgical program to refine separation techniques, aiming to cleanly partition the heavy mineral zircon concentrate from the heavy rare earth pre-concentrate. This will involve dense medium separation (DMS) circuits tailored for different size fractions, mineralogical characterisation, and optimisation of recovery and grade trade-offs.
Deliverables will include defined cut points, projected recoveries, product grades, and recommended flowsheets to feed into engineering and economic studies. This step is crucial to validate the commercial viability of the dual-product strategy and to support the forthcoming PFS.
The North Stanmore project already boasts a 320.6 million tonne Mineral Resource Estimate with a significant indicated category, making it Australia’s largest indicated clay heavy rare earth resource. The addition of a zircon-hafnium product with scandium and strategic defence metals further diversifies its appeal in a market increasingly focused on supply chain security and critical minerals.
Bottom Line?
Victory Metals’ dual-product breakthrough at North Stanmore could reshape project economics, but the commercial viability of the zircon-hafnium concentrate hinges on upcoming metallurgical validation and market acceptance.
Questions in the middle?
- How will the market value the new zircon-hafnium concentrate alongside the heavy rare earth product?
- What recovery and grade trade-offs will emerge from the planned dense medium separation program?
- Could Victory Metals leverage its non-Chinese supply chain positioning to attract strategic partnerships or funding?