Victory Metals Limited (ASX: VTM) (“Victory” or “The Company”) has confirmed assay results at its flagship North Stanmore Heavy Rare Earth Element (HREE) Project, placing it among the world’s most significant clay-hosted deposits. Infill aircore drilling returned dysprosium oxide grades up to 218 ppm and terbium assays up to 70 ppm, levels that are between 54 and 110 times higher than natural crustal abundances.
Victory Metals’ North Stanmore Returns Record DyTb Clay Rare Earth Results
These results reaffirm North Stanmore as a globally unique deposit, not only for its scale but also for its unusually high heavy rare earth enrichment. Victory now controls a 320.6 million tonne resource, with the majority in the indicated category, making it Australia’s largest defined clay HREE resource.
North Stanmore Dy/Tb Results Against Sector Benchmarks
Independent comparisons show the scale of Victory Metals’ North Stanmore project. The Mineral Resource Estimate stands at about 320 million tonnes, making it Australia’s largest indicated heavy rare earth clay deposit. The Mineral Resource Estimate of about 320 million tonnes is based on only 10 per cent of the exploration target.
Dysprosium Comparison with Peers [VictoryMetals]
Metallurgical testing with sulphuric acid (H₂SO₄) and ammonium sulphate ((NH₄)₂SO₄) showed effective extraction of dysprosium and terbium. These results indicate the potential for commercial recoveries, a crucial step toward future feasibility studies.
Terbium Comparison with Peers [VictoryMetals]
Benchmarking against other projects places North Stanmore in the higher range globally for dysprosium and terbium concentrations relative to its HREO/TREO ratio. The project’s size, grades, and extraction results mark it out as a significant development in the rare earth sector.
World-Class Dysprosium and Terbium Enrichment
Victory’s assays show the exceptional geochemical profile of the North Stanmore regolith. Hole NSE028, reported more than 1 wt% TREYO with Dy/Tb contributing over 6% of the total rare earth oxides. Unlike many ionic-clay deposits globally, North Stanmore has negligible uranium and thorium, simplifying processing and reducing environmental challenges.
REE proportions in a 1m sample interval from NSE028 [VictoryMetals]
Dysprosium & Terbium – Critical Heavy Rare Earths in the Global Industry
The timing of North Stanmore’s emergence is pivotal as the Global electric vehicle fleet is expected to quadruple by 2030. Global electric car sales exceeded 17 million in 2024.
Projected Growth of Electric Vehicle Stock by Vehicle Type, 2024–2030 [TheOregonGroup]
Dysprosium and Terbium are two of the most essential heavy rare earth elements, critical for high-performance permanent magnets that power electric vehicles, wind turbines, drones, and advanced defence systems. Terbium’s unique magnetostrictive properties allow it to change shape in response to magnetic fields, making Tb-Dy-Fe (Terfenol-D) alloys ideal for actuators that generate motion or force, key components in hypersonic missiles and sonar technologies.
Dysprosium enhances the heat resistance and efficiency of neodymium-iron-boron magnets, ensuring reliable performance in high-temperature and high-demand environments.
As the global transition to EVs, renewable energy, robotics, and advanced defence accelerates, the demand for Dy and Tb is projected to surge. At the same time, supply remains constrained by China’s export restrictions. Their scarcity and strategic value have placed them on the critical minerals lists of the US, EU, Japan, and Australia, highlighting the urgent need for secure, non-Chinese sources.
Victory Metals Financial Standing and Growth Trajectory
Victory Metals has entered a decisive growth phase, with strong market confidence and funding support. The Company secured $11.5 million in August 2025 through an institutional placement, providing the capital needed to accelerate drilling programs, advance metallurgical test work, and progress feasibility studies at North Stanmore.
The Company’s market performance mirrors this momentum. Over the past year, Victory’s share price has risen by more than 200%, driven by continued high-grade discoveries and recognition of North Stanmore as Australia’s largest indicated heavy rare earth clay resource.
Earlier this year, a scoping study projected a 31-year mine life with a post-tax NPV of approximately A$1.2 billion. With the latest assays confirming some of the highest dysprosium and terbium grades globally, project economics are expected to strengthen further in upcoming feasibility work.
Investor Outlook
The new results strengthen Victory’s hand as it advances toward feasibility. Demand for heavy rare earths is only expected to tighten, and Victory’s uniquely enriched, low-radioactivity resource positions it as a standout project globally.
North Stanmore August 2025 MRE [VictoryMetals]
- As of Sep 16, 2025, Victory Metals (ASX: VTM) is trading at 348 per share with a 52-week range of AUD 0.310 – 1.915.
- The Company’s current market capitalisation stands at approximately AUD $176 MILLION.
Closing Thoughts
Victory Metals’ latest assays mark a transformational moment for the company. With world-class dysprosium and terbium grades, a sizeable resource base, and strong market dynamics, North Stanmore is emerging not only as a flagship project for the company but also as a strategic national asset in the global race for critical minerals.
