Rocky Gully Drilling Yields Up to 492ppm Scandium Oxide; Petratherm JV Hits 29% Titanium Sands

Rocky Gully: A Critical Minerals Hotspot

Narryer Metals Limited (ASX: NYM) has delivered a robust update on its Rocky Gully Project in Western Australia, highlighting significant near-surface mineralisation of scandium, gallium, and rare earth elements (REE). Recent aircore drilling at the Ivar Prospect has returned standout assays, including scandium oxide grades up to 492ppm and total rare earth oxide concentrations reaching 4309ppm. These results reinforce the project's potential as a low-cost producer, benefiting from its location in a stable jurisdiction, minimal overburden, and proximity to existing infrastructure.

The company’s strategic focus on scandium and gallium is timely, given China's recent export restrictions on these critical minerals, which are essential in aerospace alloys, electronics, and renewable energy technologies. The high-grade scandium intersections, such as 26m at 249ppm Sc2O3 and 18m at 1848ppm TREO, underscore the project's value proposition amid tightening global supply.

Advancing Towards a Maiden JORC Resource

Narryer is progressing with plans for further drilling to delineate high-grade zones and establish a maiden JORC resource at Rocky Gully. Concurrent metallurgical and beneficiation studies are underway to define processing pathways, with results anticipated by late Q2 or early Q3 2025. The company is also expanding exploration beyond the Ivar Prospect, targeting newly identified geophysical anomalies to the west, aiming to broaden the resource base within its 79km tenure.

Muckanippie JV: Titanium Discovery Gains Momentum

In South Australia, Narryer’s joint venture with Petratherm Limited (ASX: PTR) at the Muckanippie Project has reached a key milestone, with Petratherm earning a 51% interest after meeting Stage One commitments. Drilling results from the Rosewood Prospect reveal extensive shallow heavy mineral sands with concentrates up to 29%, rich in titanium oxides such as rutile and anatase. Additional prospects, Nardoo, Duke, and Claypan, have unveiled a new saprolite-hosted titanium discovery, with heavy mineral concentrates reaching 30% and TiO2 assays up to 30%, indicating high-grade potential in soft, easily mineable clays.

These discoveries extend over significant strike lengths, with Rosewood mineralisation open along an 8km trend and Nardoo-Duke prospects aligned with a 16km magnetic horizon. Petratherm’s ongoing drilling campaigns and mineralogical studies aim to refine the resource model and assess metallurgical characteristics, with further assay results expected in the coming quarter.

Financial Position and Corporate Developments

Financially, Narryer Metals ended the quarter with $1.87 million in cash reserves, bolstered by a successful Share Purchase Plan that raised $0.47 million. These funds are earmarked to advance exploration activities at Rocky Gully, support commitments at the Muckanippie JV, and maintain general working capital. The company reported no mining production activities during the quarter, consistent with its exploration stage status.

Corporate governance remains robust, with related party payments disclosed transparently and performance rights outstanding tied to share price milestones, incentivising management to drive value creation.

Strategic Implications Amid Global Supply Constraints

Narryer’s progress comes at a pivotal moment as global demand for critical minerals intensifies, driven by the energy transition and geopolitical supply chain realignments. The company’s focus on scandium, gallium, rare earths, and titanium positions it well to capitalize on market shortages exacerbated by export controls from dominant producers like China. Success in defining a JORC resource and advancing metallurgical pathways will be critical next steps to unlock project value and attract investment.