AUS
NZ
UK
CA
USA
IND
Highlights
- High-grade scandium oxide and REE findings at Rocky Gully project.
- Mineralisation spans a surface area of 1,400 meters by 800 meters.
- Evidence of a potential carbonatite mineralised system.
Narryer Metals (ASX:NYM) has announced promising developments at its Rocky Gully project in Western Australia, revealing high-grade scandium oxide and rare earth elements (REEs) through its recent drilling program. These findings point towards the potential presence of a carbonatite mineralised system, which could lead to a major breakthrough in critical minerals exploration.
The aircore drilling program at Rocky Gully focused on a surface area extending 1,400 meters by 800 meters. Significant results include scandium oxide grades of up to 518 parts per million (ppm) and total rare earth oxide (TREO) values reaching as high as 1.8% (17,666 ppm). Among these, magnetic rare earth oxide (MREO) accounted for up to 0.6% of the TREO.
Key scandium oxide intercepts include:
- 19 meters at 232 ppm, with a higher-grade section of five meters at 407 ppm.
- 19 meters at 212 ppm, including three meters at 339 ppm.
In the case of REEs, notable intercepts included:
- 20 meters at 2929 ppm TREO, featuring one meter at 1.06% TREO.
- Five meters at 6936 ppm TREO, with one meter at 1.8% TREO.
The shallow nature of these findings suggests potential for low-cost strip mining development at Rocky Gully. The results further highlight the area’s potential for hosting a larger mineralised system, particularly one linked to carbonatite formations, known for their concentration of critical minerals.
According to Executive Chairman Richard Bevan, the initial drilling results underline the discovery's significance. "We’ve delineated high-grade zones of critical metals, including scandium, rare earths, gallium, and vanadium," he said. Bevan added that the mineralisation starting from the surface makes it economically attractive, while the scandium and REE grades compare favorably to similar Australian projects.
These promising outcomes have also impacted shares positively. The company’s shares surged by 130%, trading at 4.6 cents during the morning session following the announcement.
With these findings, Narryer Metals is poised to advance exploration at Rocky Gully, aiming to uncover the full extent of its mineralised potential. This project could contribute significantly to meeting the growing demand for critical minerals, supporting various industries globally.
