Narryer Metals’ Rocky Gully Discovery Signals Potential for Large Critical Minerals System
Narryer Metals has reported a significant new critical minerals discovery at its Rocky Gully project, revealing high-grade scandium and rare earth element mineralisation alongside successful capital raising to fund further exploration.
- Discovery of extensive high-grade scandium and magnet rare earth elements at Rocky Gully
- Multi-commodity mineralisation includes gallium and vanadium in shallow regolith clays
- Joint venture partner Petratherm reports titanium-rich heavy mineral sands discovery at Muckanippie
- Big Hill lithium project in Canada shows spodumene-hosted pegmatite with assays up to 2.4% Li2O
- Successful $1.5 million capital raise completed to advance exploration and working capital
Emerging Critical Minerals Discovery at Rocky Gully
Narryer Metals Limited (ASX: NYM) has announced a promising new chapter in its exploration journey with the identification of significant critical minerals mineralisation at its Rocky Gully project in Western Australia. Recent aircore drilling at the Ivar Prospect has revealed extensive near-surface mineralisation, including high-grade scandium oxide concentrations reaching up to 518 ppm and total rare earth oxides (TREO) as high as 1.8%. Notably, the magnet rare earth oxides (MREO) such as neodymium, praseodymium, dysprosium, and terbium are present at up to 0.6%, underscoring the project's potential value.
The mineralisation extends over a substantial area exceeding 1,400 meters by 800 meters and is hosted within unconsolidated regolith clays. This geological setting is particularly attractive for low-cost strip mining and offers favourable processing opportunities. Metallurgical studies have commenced to better understand the processing pathways, with bulk sampling already completed.
Multi-Commodity Potential and Regional Exploration
Beyond scandium and rare earth elements, the drilling has also identified promising gallium and vanadium mineralisation, both of which could add significant value to the project. The overlapping horizons of these commodities suggest a complex and potentially large mineralised system, possibly analogous to carbonatite and alkaline magmatic complexes found in regions like the Kola Peninsula and northern Europe.
Narryer is advancing exploration with plans for further drilling at the Ivar Prospect and newly identified geophysical targets across its 79 km2 tenure. Surface geochemistry surveys and regional magnetics have highlighted additional targets that may represent extensions of the mineralised system.
Muckanippie JV and Titanium Sands Discovery
In South Australia, Narryer’s joint venture partner Petratherm Ltd (ASX: PTR) has reported a significant titanium-rich heavy mineral sands discovery at the Muckanippie Project. Initial drilling and heavy mineral analyses indicate high-value titanium products, including rutile, anatase, and leucoxene. While assay results for Narryer’s tenure within the JV are pending, the proximity to Petratherm’s discovery bodes well for the project’s prospects.
Canadian Lithium Projects Show Encouraging Results
Across the globe in Canada’s Northwest Territories, Narryer’s Big Hill lithium project has identified spodumene-hosted pegmatites with channel sampling assays up to 2.4% lithium oxide (Li2O). The project lies adjacent to Li FT Power’s BIG East Lithium Project, which boasts a substantial inferred resource, suggesting potential for a contiguous mineralised system. Narryer is progressing permitting and stakeholder engagement ahead of planned drilling in 2025.
Capital Raising to Fuel Exploration Momentum
To support its expanding exploration activities, Narryer successfully completed a $1.5 million share placement during the quarter, followed by a $467,000 share purchase plan post-quarter. These funds are earmarked primarily for advancing the Rocky Gully project, supporting commitments at Muckanippie, and general working capital. The company held cash reserves of $1.78 million at the end of December 2024, positioning it well for the upcoming exploration programs.
With no mining development or production activities conducted during the quarter, Narryer remains focused on delineating and expanding its critical minerals footprint through targeted exploration and strategic partnerships.
Bottom Line?
Narryer Metals’ recent discoveries and capital raise set the stage for a pivotal year of exploration that could redefine its critical minerals portfolio.
Questions in the middle?
- How will forthcoming metallurgical studies influence the processing strategy at Rocky Gully?
- What are the expected timelines and potential scale of resource definition drilling in 2025?
- How might the titanium sands discovery at Muckanippie impact Narryer’s joint venture dynamics and valuation?