Announcement PDF ASX RELEASE 12 February 2024 AMENDED ANNOUNCEMENT – WORLD CLASS RATIOS OF DYSPROSIUM & TERBIUM 8.8KM FROM MRE Victory Metals Limited (ASX:VTM) (“Victory” or “the Company”) releases a corrected version of the “World Class Ratios of Dysprosium & Terbium 8.8Km from MRE” released today, 12 February 2024. The Company has updated the peer comparison table and footnote reference on Page 3 of the announcement. This announcement has been authorised by the Board of Victory Metals Limited. For further information please contact: Brendan Clark CEO and Executive Director b.clark@victorymetalsaustralia.com Jane Morgan Investor and Media Relations jm@janemorganmanagement.com.au Victory Metals Limited Victory is focused upon the exploration and development of its Rare Earth Element (REE) and Scandium Discovery in the Cue Region of Western Australia. Victory’s key assets include a portfolio of assets located in the Midwest region of Western Australia, approximately 665 km from Perth. Victory’s Ionic clay REE discovery is rapidly evolving with the system demonstrating high ratios of Heavy Rare Earth Oxides and Critical Magnet Metals NdPr + DyTb. Competent Person Statements - Professor Ken Collerson Statements contained in this report relating to exploration results, scientific evaluation, and potential, are based on information compiled and evaluated by Professor Ken Collerson. Professor Collerson (PhD) Principal of KDC Consulting, and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM No. 100125), is a geochemist/geologist with sufficient relevant experience in relation to rare earth element and critical metal mineralisation being reported on, to qualify as a Competent Person as defined in the Australian Code for Reporting of Identified Mineral resources and Ore reserves (JORC Code 2012). Professor Collerson consents to the use of this information in this report in the form and context in which it appears. ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — Figure 5. Regional Map showing Victory Metals tenement package and pending tenements. ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — ASX RELEASE 12 February 2024 WORLD CLASS RATIOS OF DYSPROSIUM & TERBIUM 8.8KM FROM MRE Up to 9986ppm Heavy Rare Earth Enriched TREO Highlights: o High value Rare Earth Mineralisation intersected 8.8km north from the exisiting Mineral Resource Rstimate (“MRE”). Significant highlights include: o up to 68% Heavy Rare Earth Oxide (“HREO”) to Total Rare Earth Oxide (“TREO”) o up to 7.75% Dysprosium (“Dy”) and Terbium (“Tb”) ratios of TREO o These new assays extends Victory’s exploration zone by approx 51km² giving North Stanmore potential to become one of the largest Heavy Rare Earth regolith ionic-clay hosted projects in the world o Heavy Rare Earth Elements1 Dy and Tb have a combined value approx 900% higher than Light Rare Earth Elements Praseodymium (“Pr”) and Neodymium (“Nd”) 2 o Over 60% of assay results now received from 81 AC drill holes from Victory’s latest infill drilling program which continues to confirm wide, shallow intersections and TREO grades of up to 9986ppm at a >400ppm cut off. Significant highlights include: o 21m @ 1015ppm TREO from 17m (IF184) o 12m @ 1697ppm TREO from 40m (IF208) o 11m @ 1332ppm TREO from 29m (IF167) o 10m @ 1226ppm TREO from 27m (IF198) o 7m @ 1568ppm TREO from 25m (IF117) o 2m @ 8693ppm TREO from 41m (IF036), including ▪ 1m @ 9986ppm TREO o TREO average grade from 81 holes received to date is 1072ppm o Incredibly low levels of radioactive elements Uranium (“U”) 2.5ppm & Thorium (“Th”) 8.5ppm 1 The terminology used in this report for the rare earth element follows this convention whereby the LREE are defined as La, Ce, Pr, Nd and Sm, and the HREE as Eu, Gd, Tb, Dy, Ho, Er, Tm, Yb, Lu plus Y. 2 Refer to https://www.metal.com/Rare-Earth-Oxides ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — Victory Metals Limited (ASX:VTM) (“Victory” or “the Company”) is pleased to provide further assay results from the 13,718m aircore (“AC”) infill resource definition drilling program at the Company’s 100% owned North Stanmore Rare Earth Element (“REE”) Project (“North Stanmore” or the “Project”). The North Stanmore REE Project currently incorporates an Inferred Mineral Resource of 250Mt with 130,000T of TREO, containing a high average HREO/TREO ratio of 33%, and significant percentages of combined DyTB and NdPr. The assays from an initial 81 holes confirm long intersections and TREO grades up to 9,986ppm, an average grade of 1072ppm TREO and a Heavy Rare Earth Oxide (“HREO”)/(TREO) ratio of 36% and significant intersections. In addition to the infill drilling program, the Company identified further rare earth element mineralisation sourced from the underlying North Stanmore Alkaline intrusion extending the exploration area by approximately 8.8km to the north of the existing MRE. The area has been drill tested with assays from a 20m interval confirming significant concentrations of heavy rare earth elements with an average HREO/TREO ratio of 58%, giving North Stanmore potential to increase its resource size. This drilling was outside the Company’s existing exploration target which has a range from 700Mt to 1,100Mt at a grade range of 300-500ppm TREO3 and therefore increasing the exploration zone for the Company and giving North Stanmore potential to become one of the largest Heavy Rare Earth regolith ionic-clay hosted Projects in the world. Victory’s CEO and Executive Director Brendan Clark, commented: "We are thrilled to announce the latest assay results, confirming the exceptional Dysprosium and Terbium ratios of 7.75% of Total Rare Earth Oxide at our North Stanmore Heavy Rare Earth Element Project. This significant confirmation located 8.8km from our existing MRE, underscores the immense potential of our project." "The rapid expansion of our exploration target solidifies North Stanmore's position as a premier Heavy Rare Earth project on a global scale. We are confident that with continued exploration and development efforts, North Stanmore will emerge as one of the largest and most valuable projects of its kind." "The value proposition of Dysprosium and Terbium cannot be overstated, with a combined value 900% higher than the most valuable Light Rare Earth Elements Praseodymium and Neodymium. Our latest infill resource definition drilling program has confirmed 348ppm of Dysprosium and Terbium within the MRE area, further validating the significance of our project." "In addition to our rare earth discovery, we are pleased to report significant Scandium (“Sc”) anomalism 8.8km north of the MRE area. With Scandium's high value, this discovery adds another layer of value to our project." "Our existing MRE confirms North Stanmore as Australia's largest Heavy Rare Earth Ionic-regolith clay hosted project, with a substantial resource base of 250Mt. Our focus remains on low-cost extraction methods to maximise the value of our Heavy Rare Earth Elements." 3 Refer to Company ASX announcement 2 August 2023 ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — "We are encouraged by the progress of our latest drilling program, with over 60% of assay results now received showing wide intersections and high TREO grades. Notable highlights include intersections of up to 9986ppm TREO, emphasising a quality project situated in Western Australia a very safe mining jurisdiction." "These results further validate our confidence in the potential of North Stanmore and reaffirm our commitment to unlocking its full value for our shareholders.” NdPr+DyTb Peer Comparison Table Project North Stanmore North Stanmore Penco North Stanmore Makuutu Pela Ema Carina Caldiera Country Australia Australia Chile Australia Uganda Brazil Brazil Brazil Company ASX: VTM ASX: VTM TSX: ARA ASX: VTM ASX: IXR Serra Verde Alcara ASX: MEI Status 8.8km km N of MRE INFILL MRE MRE MRE MRE MRE MRE MRE Nd 11.87% 15.89% 12.5% 13.98% 23.3% 14.54% 15.29% 17.94% Pr 2.44% 4.07% 2.9% 3.6% 5.5% 4.45% 4.34% 6.53% Dy 5.49% 3.38% 5.5% 3.14% 3.7% 2.46% 2.79% 0.81% Tb 0.82% 0.54% 0.7% 0.49% 0.7% 0.42% 0.46% 0.18% DyTb 6.31% 3.92% 6.2% 3.64% 4.4% 2.88% 3.25% 0.99% Table 1 Comparison of NdPr+DyTb Total Rear Earth Oxide (TREO) ratios amongst clay hosted REE deposits4 4 IXR- Makuutu Data sourced from ASX:IXR 5 Nov. 2020; 22 Jan. 2021; 21 July; 2021; 16 Sept. 2021; 2 Oct, 2023; 1 Feb 2024 MEI-Caldiera Data Source Meteoric Resources Announcement dated 1 May 2023 https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/292402660657-6A1147971 TSX:ARA Penco Data Source Amended NI 43-101 Technical Report Preliminary Economic Assessment for the Penco Module Project Sept. 15 2021 & Hochschild Presentation Alcara “A unique, scalable and sustainable heavy rare earth project” Sept. 21 2021. TSX:ARA Carina Nova Roma Deposit Data Source Preliminary Economic Assessment Carina Rare Earth Element Project, Nova Roma, Goias, Brazil, Nov 3 2023 Prepared by Consultoria Mineral Ltda. 309 pp. Serra Verde Ema Pela Deposit Data Sources Hochschild Mining Presentation Alcara “A unique, scalable and sustainable heavy rare earth project” Sept. 21 2021. Pinto Ward, C., (2017) Controls on the Enrichment of the Serra Verde Rare Earth Deposit, Brazil. PhD Thesis Imperial College London 442 pp. ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — Figure 1: Map showing North Stanmore and the drill hole locations for the assays received to date (400ppm cut-off) and the Heavy Rare Earth minerilsation confirmed 8.8km from the MRE area Technical Comments: Many investors only consider total REO concentrations when comparing results reported for regolithionic clay-hosted REE systems. However, the value of regolith-ionic clay-hosted REE systems is potentially influenced by many factors. For example, the percentage of DyTb and NdPr is of considerable importance, because, DyTb is currently significantly more valuable than NdPr. There is higher commercial viability if metallurgy demonstrates ease of beneficiation using ammonium ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — sulphate ((NH4)2SO4) or magnesium sulphate (MgSO4) with pH adjusted using sulphuric acid H2SO4 rather than HCl. It is also important for ores to have low ratios Thorium (Th) and Uranium (U) contents. Leachable & soluble ionic clay regolith projects, although of lower TREO grade to hard rock projects are potentially more attractive as hard tock projects require aggressive cracking/leaching conditions resulting in high CAPEX. Figure 2 below shows excellent correlation between the initial MRE data and the in-fill assays received to date. Figure 2 continues to confirm North Stanmore regolith is strongly heavy REE enriched containing a significant proportion of high value DyTb. Using TREY-CeO2 >400 ppm, the in-fill data yield a TREY concentration of 1072 ppm with HREY/TREY of 36% which is similar to that of the MRE data. Figure 2: Plot showing excellent agreement between the assays used for calculating the MRE and in-fill assays designed to improve the status and size of the initial resource estimate. The reason for subtracting CeO2 fron the TREO concentration is to minimize the influence of C4+ gain. This occurs because Ce is affected by oxidation and can occur either as Ce3+ or Ce4+, by contrast all of the other REEs (except for Eu) only occur in the REE3+ state. Ce4+ is mobile during weathering, separates from Ce3+ and migrates upwards in the weathering profile, causing an increase in LREEs concentrations which can significantly skew TREY to higher values by the including intervals rich in Ce4+. The expression, TREY-CeO2 therefore allows the identification of assays containing significant ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — Ce4+. Like other REE explorers, Victory uses this approach with a cut-off concentration of >400 ppm. The full data set received to-date from VTM’s in-fill drilling program is given in the Appendix 1. Figure 3 below shows that the majority of the North Stanmore assays exhibit negative Ce/Ce* anomalies (Ce/Ce* ratios of <1) and plot in the field characteristic of leachable ionic adsorption clay REE deposits from China, Brazil, Madagascar and Thailand. For comparison, this figure also shows (ASX: IXR) data from Makuutu5. Although the North Stanmore and Makuutu data define virtually identical fields, in-fill data from the North Stanmore regolith ranges to significantly lower Ce/Ce* values which indicates substantial loss of Ce4+. This could reflect the fact that the regolith above the North Stanmore intrusion has experienced a complex and longer weathering history than the younger crust in the African rift valley where Makuutu in Uganda is located. Figure 3: Plot comparing variation in total REE- Yttrium Oxide (TREYO) concentration and Ce/Ce* ratio in North Stanmore in-fill samples with >400 ppm TREYO data for Makuutu6 and with REE leachable ionic clay deposits from China, Brazil7 , Madagascar8 and Thailand9. 5 IXR- Makuutu Data sourced from ASX:IXR 5 Nov. 2020; 22 Jan. 2021; 21 July; 2021; 16 Sept. 2021; 2 Oct, 2023; 1 Feb 2024 ASX:IXR 5 Nov. 2020; 22 Jan. 2021; 21 July; 2021; 16 Sept. 2021; 2 Oct, 2023; 1 Feb 2024 7 Moldoveanu G., & Papangelakis V. (2016) An overview of rare-earth recovery by ion-exchange leaching from ion-adsorption clays of various origins, Mineralogical Magazine. DOI: 10.1180/minmag.2016.080.051 8 Ram et al., (2019) Characterisation of a rare earth element and zirconium bearing ion-adsorption clay deposit in Madagascar. Chemical Geology 522:93-107). 9Sanematsuet al., (2013) Geochemical and mineralogical characteristics of ion-adsorption type REE mineralization in Phuket, Thailand. Minerl Deposita 48: 437-451 6 ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — An important discovery during step out drilling from the MRE area is that approximately 8.8 km north of the MRE AC drill hole NEX003 recorded a significant interval (from 24 to 44 m) that contained elevated scandium (average Sc2O3 48 ppm) containing a high proportion of Dy and Tb (HREO/TREO of 58%. Results in the Appendix 1 show REE and Sc data for this 20 m interval of regolith. Scandium, is an important critical metal with applications ranging from hydrogen fuel cells to light alloys used in aircraft frames. As it occurs in the same Group of the Periodic Table (Gp 3) it has been called the “runt of the rare earth litter”10. As Sc occurs at potentially at economic levels in the North Stanmore regolith, discussions have been initiated with Core Metallurgy to further refine the leaching protocol to recover this additional valuable bi-product. The potential value of regolith REE deposits is predominantly controlled by the abundances of the magnet REEs (MREE) i.e., NdPr, and DyTb and by the presence or absence of Sc. Felsic alkaine systems are generally dominated by NdPr and are Sc poor e.g., the Caldiera deposit in Brazil (ASX:MEI). By contrast, mafic and ultramafic dominated alkaline source lithologies, like those at North Stanmore, are richer in the very high value elements, DyTb and Sc. Figure 4 shows the contrast in proportions of the MREEs and Sc2O3 between the infill drilling results from the MRE area, and from the step-out hole NEX-003, north of the MRE. The difference clearly illustrates the compositional variation between the alkaline lithologies that underlie the exploration area and those that occur 8.8km to the north. This is interpreted to reflect lithological control by the underlying source alkaline inrusion. Importantly, the regolith sampled by MEX003 north of the MRE has an average Nb/Ta ratio of 19.5 similar to that of the MRE (average Nb/Ta 16.1) and typical of alkaline igneous rocks, confirming the northward continuity of the North Stanmore Intrusion. This significant extension has important implications to the potential size of Victory’s DyTb and Sc resource at North Stanmore. Figure 4: Pie charts comparing relative proportions of the magnet REEs (MREEs), NdPr and DyTb and Sc (“the runt of the REE litter”) in confirmed by in-fill drilling in the North Stanmore MRE area and identified by recent assays from RC drilling 7 km north of the MRE area. 10 Williams-Jones, A.E. & Vasyukova, O.V. (2018) The Economic Geology of Scandium, the Runt of the Rare Earth Element Litter. Economic Geology, 113: 973-988. ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — This announcement has been authorised by the Board of Victory Metals Limited. For further information please contact: Brendan Clark CEO and Executive Director b.clark@victorymetalsaustralia.com Jane Morgan Investor and Media Relations jm@janemorganmanagement.com.au Victory Metals Limited Victory is focused upon the exploration and development of its Rare Earth Element (REE) and Scandium Discovery in the Cue Region of Western Australia. Victory’s key assets include a portfolio of assets located in the Midwest region of Western Australia, approximately 665 km from Perth. Victory’s Ionic clay REE discovery is rapidly evolving with the system demonstrating high ratios of Heavy Rare Earth Oxides and Critical Magnet Metals NdPr + DyTb. Competent Person Statements - Professor Ken Collerson Statements contained in this report relating to exploration results, scientific evaluation, and potential, are based on information compiled and evaluated by Professor Ken Collerson. Professor Collerson (PhD) Principal of KDC Consulting, and a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM No. 100125), is a geochemist/geologist with sufficient relevant experience in relation to rare earth element and critical metal mineralisation being reported on, to qualify as a Competent Person as defined in the Australian Code for Reporting of Identified Mineral resources and Ore reserves (JORC Code 2012). Professor Collerson consents to the use of this information in this report in the form and context in which it appears. ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — Figure 5. Regional Map showing Victory Metals tenement package and pending tenements. ACN: 124 279 750 E: info@victorymetalsaustralia.com D: +61 (08) 6555 2950 A: Suite 1, 295 Rokeby Road, Subiaco, WA, 6008 — T H E F U T U R E O F A U S T R A L I A N R A R E E A R T H S — Appendix 1 - Aircore (AC) Drill Results > 400ppm cut off grade Sample ID Hole ID From m 319633 IF 004 27 319634 IF 004 28 319635 IF 004 29 319535 IF 006 23 319543 IF 006 31 319544 IF 006 32 319536 IF 006 24 319378 IF 009 70 319377 IF 009 69 319292 IF 010 68 319282 IF 010 58 319278 IF 010 54 319277 IF 010 53 318097 IF 021 22 317926 IF 026 40 317920 IF 026 34 317925 IF 026 39 317922 IF 026 36 317921 IF 026 35 323408 IF 028 33 323407 IF 028 32 329449 IF 036 41 329450 IF 036 42 329452 IF 036 44 329451 IF 036 43 329454 IF 036 46 329455 IF 036 47 329448 IF 036 40 319810 IF 039 36 319755 IF 040 35 319756 IF 040 36 319754 IF 040 34 319757 IF 040 37 319753 IF 040 33 319687 IF 041 23 319688 IF 041 24 319689 IF 041 25 320877 IF 046 19 320848 IF 047 14 320756 IF 049 19 320762 IF 049 25 320763 IF 049 26 320761 IF 049 24 320754 IF 049 17 320712 IF 050 36 320711 IF 050 35 320713 IF 050 37 320710 IF 050 34 To La2O3 CeO2 Pr6O11 Nd2O3 Sm2O3 Eu2O3 Gd2O3 Tb2O3 Dy2O3 Ho2O3 Er2O3 Tm2O3 Yb2O3 Lu2O3 m ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm ppm 28 562 61 148 633 135 30 117 16 95 19.8 60 9.3 59.9 8.8 29 143 30 28 117 31 9 48 7 48 11.0 33 5.2 31.2 5.3 30 68 27 12 54 15 5 27 4 29 6.7 21 3.2 18.5 3.1 24 192 234 52 205 41 9 33 4 20 3.1 8 1.0 5.6 0.8 32 216 455 54 191 33 7 22 2 12 2.0 5 0.6 3.9 0.6 33 168 377 42 152 27 6 18 2 10 1.8 5 0.6 3.9 0.6 25 95 161 25 103 22 5 22 3 19 3.8 11 1.5 9.6 1.4 71 95 46 19 77 21 8 42 9 63 14.7 45 5.9 31.7 5.2 70 125 59 27 104 27 10 42 8 51 10.7 32 4.1 22.0 3.5 69 68 136 15 59 12 4 17 3 28 8.3 28 3.7 21.7 3.5 59 108 150 25 105 22 6 27 4 26 5.3 16 2.1 13.2 2.0 55 119 386 40 166 35 7 22 3 18 3.3 10 1.3 9.1 1.2 54 108 373 39 167 35 7 20 2 14 2.5 7 1.0 7.1 1.0 23 78 195 19 78 17 4 20 4 24 4.9 15 2.1 13.4 2.3 41 90 146 21 94 22 6 25 4 24 5.1 15 2.0 13.6 2.2 35 105 232 35 150 33 8 26 3 17 2.9 7 0.9 5.2 0.7 40 75 135 19 84 18 5 21 4 25 5.2 15 2.1 14.7 2.3 37 94 203 31 130 28 8 24 3 17 2.6 7 1.0 6.1 0.7 36 83 179 26 117 26 7 21 3 18 3.4 9 1.3 8.5 1.2 34 175 468 50 197 41 11 40 7 37 7.4 20 3.4 20.3 3.0 33 82 213 26 98 20 6 22 4 26 5.9 18 3.0 18.2 2.7 42 2404 1726 650 2368 457 114 367 46 262 47.8 135 17.4 109.2 13.9 43 1788 823 396 1470 296 83 294 42 266 52.7 160 22.6 149.2 20.6 45 564 646 138 574 128 36 155 23 151 33.8 102 13.0 80.6 11.3 44 157 114 39 151 35 10 48 8 65 15.9 54 7.7 52.3 7.8 47 86 110 18 73 14 4 22 3 22 5.1 16 2.1 12.6 1.9 48 107 118 17 70 14 4 20 3 17 3.9 13 1.5 8.9 1.3 41 96 317 28 106 24 6 20 3 19 3.5 11 1.6 11.0 1.4 37 94 157 25 99 22 5 19 3 18 3.8 11 1.8 11.5 1.7 36 164 70 44 188 57 15 89 17 118 25.4 76 10.2 62.4 9.1 37 167 17 35 163 42 12 75 12 84 18.6 54 7.7 46.2 7.1 35 222 262 61 239 53 11 51 8 48 9.0 26 3.3 22.1 3.2 38 38 14 7 35 11 3 23 4 28 6.7 21 2.8 17.0 2.7 34 124 474 35 134 31 6 24 3 18 2.8 7 1.1 7.7 1.1 24 265 124 82 320 78 13 64 9 52 9.0 24 3.4 23.7 3.8 25 159 227 42 162 40 7 46 7 45 8.7 24 3.7 24.1 3.8 26 130 155 34 140 32 6 38 6 37 7.3 20 2.8 19.0 3.2 20 63 173 20 81 20 5 21 4 26 5.3 17 2.6 17.3 2.4 15 80 398 25 98 23 6 21 4 26 5.4 16 2.5 16.3 2.4 20 207 412 49 195 43 12 41 6 39 7.6 23 3.3 21.4 2.7 26 186 341 42 166 30 7 26 3 17 3.4 9 1.4 7.8 1.2 27 184 375 45 180 31 6 22 3 13 2.6 7 1.0 5.8 0.8 25 127 190 27 109 21 5 22 3 18 4.2 13 1.7 10.7 1.6 18 95 582 29 107 24 6 20 3 20 4.4 12 1.9 13.3 1.7 37 94 269 31 142 30 11 32 5 35 8.0 24 3.4 22.7 3.4 36 79 254 29 132 28 11 30 5 35 8.2 25 3.7 24.1 3.6 38 86 332 28 123 28 9 30 5 30 5.9 18 2.4 18.3 2.5 35 72 224 27 118 26 9 24 4 24 5.5 16 2.3 16.2 2.3 Y2O3 Sc2O3 TREYO HREYO HREO/TREO Ce/Ce* MREO TREYO-CeO2 ppm ppm ppm ppm % % ppm ppm 571 49 2526 988 0.39 0.04 892 2465 392 35 940 591 0.63 0.10 201 910 253 58 549 372 0.68 0.20 100 522 74 52 883 158 0.18 0.47 282 649 72 36 1076 128 0.12 0.86 259 621 67 41 881 114 0.13 0.92 206 504 113 35 595 190 0.32 0.67 150 434 665 26 1148 890 0.77 0.22 168 1102 414 53 940 597 0.64 0.21 189 881 433 30 840 550 0.65 0.86 106 704 145 38 657 246 0.38 0.60 160 507 65 33 885 140 0.16 1.11 226 499 48 34 832 110 0.13 1.11 223 458 157 29 632 245 0.39 1.03 124 438 156 29 625 253 0.40 0.69 143 479 61 40 688 132 0.19 0.76 206 456 152 33 578 246 0.43 0.73 131 443 60 33 616 129 0.21 0.75 181 413 84 37 589 157 0.27 0.76 165 410 210 15 1289 359 0.28 1.01 290 821 206 30 750 311 0.42 0.91 154 537 1270 59 9986 2381 0.24 0.32 3326 8260 1537 40 7400 2627 0.35 0.22 2174 6577 1218 43 3874 1824 0.47 0.53 886 3228 575 31 1340 844 0.63 0.33 263 1226 206 27 597 296 0.50 0.63 116 487 177 25 575 249 0.43 0.58 107 457 89 43 735 164 0.22 1.42 156 418 107 17 580 183 0.32 0.66 146 423 775 59 1719 1196 0.70 0.17 366 1649 627 27 1366 943 0.69 0.05 293 1349 236 62 1256 418 0.33 0.45 356 994 267 36 480 375 0.78 0.19 74 466 51 58 919 122 0.13 1.46 189 445 213 49 1286 416 0.32 0.17 464 1161 247 19 1047 417 0.40 0.57 256 820 203 16 834 342 0.41 0.48 217 679 147 44 604 248 0.41 0.97 131 432 151 65 875 251 0.29 1.76 153 477 206 62 1267 362 0.29 0.84 290 856 130 31 970 205 0.21 0.80 228 629 92 37 968 154 0.16 0.84 240 594 149 42 700 227 0.32 0.67 156 510 104 51 1024 187 0.18 2.23 160 442 251 20 961 396 0.41 0.98 213 692 263 23 930 408 0.44 1.04 201 675 170 18 887 291 0.33 1.35 186 556 172 25 741 275 0.37 0.99 173 517 Th ppm 8.5 6.0 1.6 3.7 67.9 63.3 5.0 4.8 3.1 19.7 4.9 7.0 6.7 2.4 5.4 5.2 5.5 4.7 5.1 6.6 7.0 6.6 7.1 4.6 6.1 5.9 5.4 6.3 14.5 3.7 15.0 2.5 12.9 2.2 5.5 12.7 12.6 4.8 2.1 1.3 58.3 66.8 34.2 2.2 7.0 6.0 6.1 6.8 U ppm 7.1 4.0 2.9 1.7 11.1 7.9 2.0 1.8 1.9 2.6 2.5 2.0 1.9 1.8 2.5 2.5 2.4 2.4 2.2 1.8 2.0 8.8 6.5 2.7 1.8 1.8 2.0 2.6 1.3 1.2 2.0 1.0 1.1 0.9 3.7 2.9 2.8 1.3 1.2 1.9 8.2 8.2 6.0 1.7 2.6 2.5 2.2 2.3 320441 320442 320440 320438 320437 320356 320357 320358 320359 320360 320292 320293 320291 320001 320015 320013 320010 320009 320011 319942 319944 319943 319946 319945 319194 319003 319120 319122 319057 319058 319056 318513 318512 318514 318516 318521 318515 318517 318511 318518 318519 318470 318475 318469 318471 318476 318474 318467 318468 318472 318466 318392 IF 054 IF 054 IF 054 IF 054 IF 054 IF 055 IF 055 IF 055 IF 055 IF 055 IF 056 IF 056 IF 056 IF 060 IF 060 IF 060 IF 060 IF 060 IF 060 IF 062 IF 062 IF 062 IF 062 IF 062 IF 138 IF 141 IF 164 IF 164 IF 165 IF 165 IF 165 IF 166 IF 166 IF 166 IF 166 IF 166 IF 166 IF 166 IF 166 IF 166 IF 166 IF 167 IF 167 IF 167 IF 167 IF 167 IF 167 IF 167 IF 167 IF 167 IF 167 IF 168 40 41 39 37 36 31 32 33 34 35 30 31 29 29 43 41 38 37 39 36 38 37 40 39 24 22 19 21 16 17 15 20 19 21 23 28 22 24 18 25 26 33 38 32 34 39 37 30 31 35 29 17 41 42 40 38 37 32 33 34 35 36 31 32 30 30 44 42 39 38 40 37 39 38 41 40 25 23 20 22 17 18 16 21 20 22 24 29 23 25 19 26 27 34 39 33 35 40 38 31 32 36 30 18 196 145 163 189 165 352 292 213 177 151 86 83 89 29 105 139 124 124 104 205 165 163 103 101 56 75 127 95 215 105 147 453 415 236 165 133 174 111 148 65 54 534 346 373 276 131 123 165 134 88 132 262 240 176 230 235 171 762 583 384 280 249 179 163 211 56 45 46 455 628 259 812 60 118 60 56 349 125 344 235 523 225 382 242 326 147 672 49 147 138 295 51 53 860 246 999 494 68 240 306 224 499 127 548 40 27 35 40 34 82 67 44 34 31 22 20 22 8 17 33 32 33 29 46 31 33 20 21 15 18 35 24 59 26 45 124 124 53 40 32 36 23 43 14 11 141 74 109 61 28 29 43 35 21 36 100 149 107 125 131 114 293 246 153 131 135 88 80 91 33 72 136 128 129 116 183 122 135 76 81 60 68 127 92 227 100 162 430 428 194 150 120 138 88 149 56 44 546 285 398 227 105 99 151 127 79 122 371 29 24 23 23 19 54 48 30 27 27 19 18 19 10 19 26 25 25 23 36 28 29 19 19 17 16 26 21 53 24 35 82 87 41 32 26 28 19 29 14 10 111 57 80 45 20 21 28 24 18 22 82 7 6 5 5 4 14 12 9 7 8 5 5 5 4 7 7 6 6 6 10 8 8 5 5 7 4 5 4 11 5 7 18 18 10 8 6 6 5 6 4 3 26 14 19 10 5 6 5 5 4 4 18 27 27 19 15 13 40 37 29 25 24 21 21 18 19 32 19 17 18 17 37 41 37 28 26 20 19 22 22 49 28 25 59 58 40 32 28 25 23 20 18 16 105 68 69 41 27 26 21 20 20 16 58 4 4 3 2 2 6 6 5 4 4 3 3 3 4 6 3 2 2 3 5 5 4 4 4 4 3 4 4 8 5 4 9 9 7 5 5 4 4 3 3 3 16 11 11 6 4 5 3 3 4 3 9 24 27 15 11 10 33 30 27 27 25 21 21 18 34 37 15 15 15 16 26 29 23 26 24 28 20 24 25 51 34 25 45 46 44 35 29 26 29 18 26 23 100 66 64 36 25 33 18 18 24 15 52 4.3 4.9 2.5 1.8 1.4 5.3 4.8 4.8 5.0 4.7 4.5 4.5 3.7 9.5 7.9 2.6 2.7 2.4 2.9 5.1 6.2 4.9 5.7 5.0 5.7 4.5 4.5 5.2 10.9 7.4 4.5 6.9 7.2 8.1 6.7 6.0 4.8 6.3 3.0 5.9 5.3 20.7 14.5 12.1 7.0 6.3 7.3 3.7 3.4 5.1 3.0 9.4 12 14 7 4 4 13 12 13 13 13 13 13 11 35 24 8 8 7 8 13 15 12 15 13 18 14 14 16 33 23 14 18 18 24 20 18 14 19 8 19 16 62 44 36 20 18 23 11 10 16 9 28 1.6 2.0 0.9 0.5 0.4 1.6 1.7 1.7 1.7 1.5 1.9 1.9 1.7 5.6 3.2 1.1 1.2 1.1 1.3 2.1 2.1 1.7 2.1 1.9 2.7 2.0 2.0 2.4 4.6 3.2 1.9 2.5 2.5 3.8 3.1 2.4 2.1 2.9 1.3 2.9 2.5 9.1 5.8 5.3 2.9 2.4 3.2 1.5 1.3 2.3 1.4 3.9 9.9 13.2 6.1 3.1 2.8 10.4 10.0 10.4 10.6 9.6 12.9 13.0 11.1 42.5 20.8 8.7 8.7 7.9 9.6 13.7 13.9 12.4 14.1 12.6 17.9 11.7 13.0 16.7 28.0 19.2 12.0 15.4 15.6 24.7 21.9 13.7 14.5 20.4 8.8 19.5 15.7 61.8 37.9 36.2 19.4 15.3 23.0 10.7 9.5 15.6 10.0 26.1 1.3 1.8 0.8 0.4 0.4 1.2 1.3 1.3 1.2 1.0 2.0 1.9 1.7 6.4 3.0 1.2 1.2 1.0 1.3 1.8 1.9 1.5 2.0 1.8 2.6 1.8 1.7 2.5 4.0 3.1 1.6 2.0 2.1 3.6 3.1 2.3 2.1 3.3 1.3 3.0 2.6 9.0 5.5 4.7 2.7 2.3 3.1 1.5 1.3 2.2 1.3 3.6 110 145 65 44 36 131 123 130 147 130 128 129 109 406 262 59 65 61 63 133 190 147 177 151 149 160 130 145 306 227 114 156 150 213 173 232 115 184 78 205 199 669 546 315 215 267 245 122 99 184 98 245 27 24 36 27 31 41 131 67 27 29 23 19 25 67 23 16 22 25 24 28 28 29 29 28 12 21 54 32 26 26 23 18 24 34 22 18 29 18 21 19 23 25 29 31 20 25 36 31 29 19 30 30 856 724 700 704 575 1798 1473 1056 891 813 607 578 615 702 661 504 892 1060 660 1530 720 730 557 522 752 541 880 711 1584 836 980 1662 1706 1048 1369 702 737 677 813 506 460 3271 1820 2530 1463 725 883 892 715 982 601 1815 201 245 125 86 73 256 237 231 243 220 212 214 183 567 403 124 127 121 128 248 313 252 279 244 255 240 221 244 506 355 209 332 327 378 310 342 213 298 148 306 287 1079 813 572 361 373 373 199 170 277 162 452 0.24 0.34 0.18 0.12 0.13 0.14 0.16 0.22 0.27 0.27 0.35 0.37 0.30 0.81 0.61 0.25 0.14 0.11 0.19 0.16 0.43 0.35 0.50 0.47 0.34 0.44 0.25 0.34 0.32 0.42 0.21 0.20 0.19 0.36 0.23 0.49 0.29 0.44 0.18 0.60 0.62 0.33 0.45 0.23 0.25 0.51 0.42 0.22 0.24 0.28 0.27 0.25 0.60 0.62 0.68 0.60 0.5