Alkaline intrusions are the principal primary sources of many of the critical metals including the rare earth elements and scandium. Victory Metals’ discovery could be associated with the major plume magmatic event in the northern Yilgarn craton and is postulated to have extended from Lynas Rare Earths Limited’s (ASX:LYC) Mt Weld carbonatite occurrence in the east to Cue in the west.

Victory commissioned Southern Geoscience Consultants (SGC) to complete 3D magnetic modelling to assess the depth to top and the body parameters of the source of the anomaly.

A single diamond drillhole was undertaken to a depth of 298m and followed up by a petrological study by Emeritus Professor Ken Collerson at the University of Queensland (UQ) to interpret the rock type, mineralogy and Ni-Co host of the assays.
The Company recently completed combined low flying aerial magnetic and gravity survey data that identifies multiple further exploration prospects and is currently being followed up by a diamond drilling program totalling approximately 980m across 3 holes.²