Petratherm Secures 70% Stake and Advances Bulk Testing at Rosewood

Strategic Leadership Appointment

Petratherm Limited (ASX, PTR) has taken a decisive step forward in advancing its Rosewood Titanium Project by appointing Victor Araujo as Head of Project Development. With nearly three decades of experience in mineral sands project management and engineering across multiple continents, Araujo's expertise is expected to accelerate the technical studies and development phases of this promising asset. His track record includes leadership roles in major mineral sands operations in South Africa, Australia, and New Zealand, positioning him well to guide the complex workstreams underway at Rosewood.

Increased Stake and Joint Venture Formation

In a significant move to consolidate control over the Muckanippie Project area, Petratherm has earned an additional 19% interest in exploration licence EL 6715, bringing its total equity to 70%. This milestone was achieved under the farm-in agreement with Narryer Metals (ASX, NYM), which has now triggered the formation of a joint venture managed by Petratherm. EL 6715 hosts several prospects including Duke, Nardoo, and Claypan, where recent drilling has revealed a new style of high-grade titanium-rich heavy mineral sand mineralisation hosted in saprolite clay.

Encouraging Metallurgical Test Results

Bulk sample metallurgical testing at IHC Laboratories in Brisbane is progressing well, with initial feed preparation and spiral separation trials underway to produce a heavy mineral concentrate (HMC). Early results indicate a mineral assemblage dominated by high-grade titanium minerals exceeding 70% titanium dioxide content, including leucoxene and rutile. The coarse grain size of the heavy minerals suggests they are well suited to conventional gravity spiral processing, which bodes well for future mineral recovery and processing efficiency.

Expanding Exploration and New Mineralisation Styles

Recent drilling at the Duke, Nardoo, and Claypan prospects has identified a previously unrecognised style of saprolite-hosted heavy mineral sands with exceptionally high titanium content. These saprolite zones, characterized by deeply weathered clay-rich rock, offer potential for free dig mining and standard wet concentration processing. Follow-up drilling completed in April 2025 has provided extensive samples for assay and mineralogical analysis, with results expected later this quarter. Meanwhile, a Phase 3 drilling campaign at Rosewood East and West has extended the known mineralisation footprint, with over 110 holes drilled to test new targets and extensions.

Looking Ahead, Phase 4 Drilling and Resource Definition

Building on these promising developments, Petratherm plans to commence Phase 4 drilling from early September. This program will include orientation and infill drilling over high-grade zones at Rosewood East to support the design of a future JORC-compliant resource drilling campaign. With mineralisation open in multiple directions and intercepts consistently showing high heavy mineral grades, the project continues to demonstrate the potential to evolve into a world-class titanium discovery.