Victory Metals Limited · ASX:VTM
Victory Metals — Investor Presentation (May 2023)
27 slides from Victory Metals's investor presentation, May 1, 2023
Slide 1: The Future of Australian Rare Earths
For personal use only THE FUTURE OF AUSTRALIAN RARE EARTHS INVESTOR PRESENTATION ASX:VTM May 2023 ASX:VTM www.victorymetalsaustralia.com 1
Slide 2: Disclaimer
DISCLAIMER Not a disclosure document Forward-looking statements The purpose of this presentation is to provide general information about the Company only. This This announcement contains “forward-looking statements”. All statements other than those of historical presentation is not a disclosure docu
Slide 3: Why Victory Metals: North Stanmore Rare Earth Element Discovery
WHY VICTORY METALS NORTH STANMORE RARE EARTH ELEMENT DISCOVERY Victory owns 100% of the project, located in the Cue Region of Western Australia Initial drilling has confirmed approximately 34km² of Rare Earth Element mineralisation that remains open in all directions with a current For personal use
Slide 4: AC & RC Drilling Notable Intersections
AC & RC DRILLING NOTABLE INTERSECTIONS • 8m at 1807ppm TREO from 33m (23NSTRC071) including: − 4m at 2,980ppm TREO and For personal use only − 1m at 10,497ppm TREO • 32m at 1047ppm TREO from 36m (NSTAC004) including, − 12m at 2038ppm TREO, and − 8m at 2467ppm TREO • 20m at 829ppm TREO from 18m (23NS
Slide 5: Regolith Rare Earth Element Depth Profiles Identical to Ionic Clay Systems
REGOLITH RARE EARTH ELEMENT DEPTH PROFILES IDENTICAL TO IONIC CLAY SYSTEMS For personal use only Rare Earth Element concentration gradients with depth show the effect of REE migration during weathering ASX:VTM www.victorymetalsaustralia.com 5
Slide 6: High Proportion Magnet Rare Earth Elements and High Value Dy & Tb
HIGH PROPORTION MAGNET RARE EARTH ELEMENTS AND SIGNIFICANT HIGH VALUE DYSPROSIUM (Dy) & TERBIUM (Tb) For personal use only Good correlation between Initial AC drilling assays and RC drilling assays has given great confidence for the initial MRE work and is likely to reduce future exploration costs A
Slide 7: Location Advantages
LOCATION ADVANTAGES • North Stanmore situated alongside Great Northern For personal use only Highway being one of Australia’s major arterial road networks connecting the Pilbara to the World • Situated approximately 7.5km from Cue township and Great Northern Highway towards North Stanmore Cue townsh
Slide 8: Initial Metallurgy Results
INITIAL METALLURGY RESULTS EXCEPTIONAL RECOVERIES OF CRITICAL HEAVY RARE EARTH ELEMENTS Exceptional yields of Heavy Rare Earth Elements up to 63.6% Lutetium (Lu), 60% Dysprosium (Dy) and 58% For personal use only Terbium (Tb) which are all very critical and valuable Rare Earth Elements (REE) using l
Slide 9: Excellent Heavy Rare Earth Element Recoveries
EXCELLENT HEAVY RARE EARTH ELEMENT RECOVERIES For personal use only • The high recoveries were achieved economically by leaching using low-cost combined ammonia sulphate (NH4)2SO4 and weak sulphuric acid H₂SO₄, at 50°C and low leach times • Heavy Rare Earth Element dominated leachate reflects high R
Slide 10: Rare Earth Element Oxide Forecast Pricing Chart
RARE EARTH ELEMENT OXIDE FORECAST PRICING CHART For personal use only • Victory hosts leading grades of Heavy Rare Earth Elements • Light Rare Earth Element dominated projects face economic challenges due to high ratios of Lanthanum (La) and Cerium (Ce) • Lanthanum (La) and Cerium (Ce) have a low co
Slide 11: Cost Comparison of Sulphuric and Hydrochloric Acid as Leach Lixiviant
COST COMPARISON OF SULPHURIC AND HYDROCHLORIC ACID AS A LEACH LIXIVIANT Leach test work focussing on the use of sulphuric acid for pH adjustment, has key economic benefits in For personal use only both operating and capital costs over hydrochloric acid Parameter Sulphuric Acid Hydrochloric Acid Mode
Slide 12: Rare Earth Elements Critical Uses
RARE EARTH ELEMENTS CRITICAL USES 6 valuable and critical rare earth elements The importance of Rare Earth Elements for defense industries For personal use only Tm Thulium Lasers Xray Pr Praseodymium F-35 EV Wind Turbine 417 kgs Nd Neodymium EV Wind Turbine Semiconductor Dy Arleigh Burke DDG-51 Dysp
Slide 13: Gold, Scandium Credits & Low Radioactivity
GOLD, SCANDIUM CREDITS & LOW RADIOACTIVITY Gold Credits (Au) Scandium Credits (Sc2O3) Radioactive Elements For personal use only North Stanmore rare earth discovery contains very low concentrations of Uranium • Cue is known for one of Western • Scandium is used for manufacturing (av. 2.41ppm) and Th
Slide 14: Geopolitical Tensions & Rare Earth Element Outlook
GEOPOLITICAL TENSIONS & RARE EARTH ELEMENT OUTLOOK US Government has included Rare Earth Elements in their list of 35 critical minerals. This is to ensure For personal use only reliable and secure supplies of minerals critical to the US economy and military Australian Government has created a $2 bil
Slide 15: Year Development Plan
2 YEAR DEVELOPMENT PLAN For personal use only Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Metallurgy Studies Mineral Resource Estimate (JORC) Further Rare Earth Element Drilling Upgraded Mineral Resource Estimate Beneficiation study Exploration at Alkaline Intrusion Offtake Discu
Slide 16: Investment Highlights
INVESTMENT HIGHLIGHTS Victory owns 100% of the project with limited stakeholders involved For personal use only Situated in Western Australia the most attractive jurisdictions in the world for mining investment, according to the Fraser Institute Mineral system a fossilized ionic clay deposit above i
Slide 17: Company Overview
COMPANY OVERVIEW Victory’s board and management hosts a strong and Capital Structure As at 28/04/2023 For personal use only diverse team from motivated mining entrepreneurs Current Share Price $0.28 to ASX leaders with vast experience in project and Market Capitalisation $15.1m mine development to o
Slide 18: Contact Information and Regional Tenement Map
CONTACT INFORMATION AND REGIONAL TENEMENT MAP T: +61 (08) 6555 2950 For personal use only E: info@victorymetalsaustralia.com W: www.victorymetalsaustralia.com A: Suite 1, 295 Rokeby Road, Subiaco WA 6008 Brendan Clark - CEO and Executive Director E: b.clark@victorymetalsaustralia.com Lexi O’Halloran
Slide 19: Appendix 1. Technical Commentary
APPENDIX 1. TECHNICAL COMMENTARY The North Stanmore alkaline complex caused the For personal use only Rare Earth Element enrichment in the regolith. This is supported by: • Identical HREYO/TREYO ratios viz., 35% in RC regolith samples with TREYO >500 ppm and diamond drill core samples viz. 37±13% •
Slide 20: Compositional Variability in North Stanmore Alkaline Complex
COMPOSITIONAL VARIABILITY IN NORTH STANMORE ALKALINE COMPLEX For personal use only ASX:VTM www.victorymetalsaustralia.com 20
Slide 21: Compositional Variability Discriminated by Chondrite Normalised Plots
COMPOSITIONAL VARIABILITY IN NORTH STANMORE ALKALINE COMPLEX DISCRIMINATED BY CHONDRITE NORMALISED PLOTS For personal use only North Stanmore Alkaline Complex Contains Varied Lithologies including Carbonatites ASX:VTM www.victorymetalsaustralia.com 21
Slide 22: Compositional Variability Discriminated by Chondrite Normalised Plots
COMPOSITIONAL VARIABILITY IN NORTH STANMORE ALKALINE COMPLEX DISCRIMINATED BY CHONDRITE NORMALISED PLOTS For personal use only • Deep Regolith Rare Earth Element Enrichment at North • Deep Regolith Rare Earth Element Enrichment at North Stanmore also reflects presence of Rare Earth Element Stanmore
Slide 23: Regolith Rare Earth Mineralisation Associated North Stanmore Alkaline Complex
REGOLITH RARE EARTH ELEMENT MINERALISATION ASSOCIATED NORTH STANMORE ALKALINE COMPLEX For personal use only • Ratio of niobium to tantalum (Nb/Ta) is a particularly robust vector for plume magmatism, the primary geological control on alkaline magmatism • Average upper crustal rocks have a mean Nb/Ta
Slide 24: North Stanmore Ce/Ce* TREYO Systematics Typical of Global Ionic Clay Deposits
NORTH STANMORE CE/CE* TREYO SYSTEMATICS TYPICAL OF GLOBAL IONIC CLAY DEPOSITS Ce/Ce* <1 Total REYO 983 ppm DyTb 4.2% For personal use only N. Stanmore Ionic Clay and Oxidized Regolith REE Deposit With Ce/Ce* <1 ASX:VTM www.victorymetalsaustralia.com 24
Slide 25: North Stanmore Regolith Rare Earth Element Discovery: Clay Hosted Fossil Ionic Clay System
NORTH STANMORE REGOLITH RARE EARTH ELEMENT DISCOVERY A CLAY HOSTED “FOSSIL” IONIC CLAY SYSTEM For personal use only • The negative dip in Ce indicates loss of Ce 4+ formed by oxidation • Negative Ce/Ce* anomalies are characteristic of leachable Ionic Adsorption Clay (IAC) Rare Earth Element deposits
Slide 26: Excellent Heavy Rare Earth Element Recoveries
EXCELLENT HEAVY RARE EARTH ELEMENT RECOVERIES For personal use only • The high recoveries were achieved economically by leaching using low-cost combined ammonia sulphate (NH4)2SO4 and weak sulphuric acid H₂SO₄, at 50°C and low leach times. • Test work on individual samples resulted in improved Heavy
Slide 27: Initial High % Heavy Rare Earth Recovery Related to Dissolution of Xenotime
INITIAL HIGH % HEAVY RARE EARTH ELEMENT RECOVERY RELATED TO DISSOLUTION OF XENOTIME OR CHRUCHITE For personal use only • The Heavy Rare Earth Element enrichment and Light Rare Earth Element depletion in the leachate indicates Rare Earth Elements mainly derived from xenotime. • Monazite is the main L