Victory Metals (ASX:VTM) said the pilot plant at its North Stanmore project in Western Australia delivered an around 7.1% grade of total rare earth oxide (TREO) concentrate from a feed grade of 1,195 parts-per-million (ppm) comprising 40% heavy rare earth oxides (HREO), according to a Wednesday Australian bourse filing.

The concentrate includes 2,777 ppm of dysprosium oxide, 479 ppm of terbium oxide, and 1.77% by weight of yttrium oxide.

The flotation feed was prepared as a composite of 65 one-meter samples collected between 14 meters and 58 meters downhole from 25 drill holes across the North Stanmore deposit.

The result was achieved in a continuously fed circuit operating at around 12 times the scale of previous flotation test work on North Stanmore ore. Victory will move to produce larger volumes of its heavy rare earth-enriched concentrate for supply to potential offtake partners.

Its shares rose 2% in recent trading on Wednesday.