Narryer Metals has delivered a maiden inferred resource of 169 million tonnes at 7.1% heavy mineral at its Rosewood West area within the Muckanippie Titanium Project, while progressing scandium-REE metallurgical studies in Western Australia and raising $1.056 million through a strategic placement.
- Maiden inferred JORC resource of 169Mt at 7.1% HM at Rosewood West
- Rosewood West contains 12Mt of valuable heavy minerals including leucoxene, rutile, ilmenite
- Metallurgical programs advance scandium and rare earth projects in WA
- Raised $1.056 million via strategic placement including new investor Tim Goyder
- Cash position of $1.36 million supports ongoing exploration and development
Maiden Resource Boosts Muckanippie Titanium Project
Narryer Metals Limited (ASX:NYM) has marked a significant milestone with the delivery of a maiden inferred JORC mineral resource estimate of 169 million tonnes at 7.1% heavy mineral (HM) at its Rosewood West prospect, part of the Muckanippie Titanium Project in South Australia's northern Gawler Craton. This resource, which sits predominantly on the Narryer JV tenure, contains approximately 12 million tonnes of valuable heavy minerals, including a high proportion of leucoxene (63%), ilmenite (23%), and rutile (1.8%).
The Rosewood West resource accounts for roughly 36% of the total Rosewood Mineral Resources, which collectively stand at 463 million tonnes at 8.8% HM with 93% of the HM classified as valuable. This positions the Rosewood Project among the largest and highest-grade titanium-dominant heavy mineral systems globally.
Ongoing Metallurgical and Stakeholder Progress in Western Australia
Beyond South Australia, Narryer is advancing metallurgical studies at its Rocky Gully and Pingrup scandium and rare earth element (REE) projects in Western Australia’s Great Southern region. The metallurgical program at the Ivar Prospect within Rocky Gully aims to establish a viable processing route for scandium, REEs, gallium, and titanium mineralisation. Concurrently, the company has completed initial stakeholder engagement at Pingrup and is moving forward with land access agreements on key target areas.
Financial Position Strengthened by Strategic Placement
Supporting these exploration and development activities, Narryer raised $1.056 million before costs through a strategic placement priced at $0.03 per share. The placement attracted sophisticated investors including Perth-based mining investor Tim Goyder, alongside existing major shareholders Mimaro Group and Raffe Capital. This capital injection lifts the company’s cash reserves to $1.36 million as at 30 June 2026, providing an estimated 6.77 quarters of funding based on current expenditure levels.
Exploration expenditure during the quarter was minimal, primarily covering tenement management costs. No mining development or production activities were undertaken in the period. Payments to related parties, mainly director fees, totalled $101,000.
Performance Rights and Future Milestones
Narryer currently has 8.96 million performance rights on issue, none of which vested or lapsed during the quarter. These rights are tied to share price milestones ranging from $0.40 to $0.144 over the next few years, indicating a focus on shareholder value growth aligned with project progress.
As the company continues to refine its titanium resource and advance scandium-REE projects, upcoming updates on metallurgical results and JV partner PTR Minerals’ studies will be key indicators of potential development pathways. The substantial maiden resource at Muckanippie provides a solid foundation, but the inferred classification underscores the need for further drilling and resource upgrading.
Bottom Line?
Narryer’s maiden titanium resource at Muckanippie lays groundwork for development, while strong cash reserves and advancing scandium-REE studies position the company for critical minerals growth.
Questions in the middle?
- How will further drilling upgrade the inferred resource at Rosewood West?
- What processing route will metallurgical studies at Rocky Gully ultimately recommend?
- Can Narryer attract additional capital to accelerate development beyond exploration?