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Narryer Get Gravity Evidence for REE Carbonatite

8 May 2023 14:17

Narryer Metals continue to zero in on Rocky Gully’s REEs, with a newly uncovered gravity anomaly further supporting the explorer’s belief that the West Australian project hosts an extensive carbonatite complex.

The news follows the explorer’s share price surging over 30 per cent last week on the back of uncovering a new clay-hosted REE project in Western Australia’s Great Southern.

The Gravity of the situation

Uncovered by gravity and magnetic ground surveys, the gravity high coincides with a high-density target area nestled within the Project’s Ivar Prospect, where the potential for a rare earth-bearing carbonatite complex was already identified having shown anomalous REE grades up to 0.5% TREO from an in-depth geological study.

The objective of the surveys was to provide a better resolution of the Ivar Prospect and potentially result in delineating drill targets for an upcoming campaign, and in this case, the surveys were a massive success with Narryer already planning to drill this new target.

Alongside the new target, the magnetic ground survey also provided a better image of Ivars intrusive feature and allowed for more accurate drill targeting for an upcoming drilling campaign co-funded by the West Australia government, with additional holes now likely to test a 1km length.

Set on Scandium

As well as ramping up towards drilling the REE project, Narryer will also be moving to uncover the Project’s scandium potential within Ivar, with the Company previously reporting Scandium oxide grades of up to 583 ppm from re-assaying of historic drill material.

Critical to the aviation industry and of growing importance to a number of green technologies, scandium could provide an extremely enticing opportunity for the Project, with the Company now planning an air-core drilling campaign to test this new avenue.

Looking Ahead

The Company said that identifying this gravity anomaly has significantly boosted the potential for a underlying carbonatite complex at Rocky Gully, with gravity highs being a common feature for carbonatite complexes.

“Gravity highs are quite typical of carbonatite intrusives, and notably it was a gravity high which was the precursor to the WA1 Resources Nb- REE discovery in the West Arunta, WA. Drilling into the gravity high, as well as the other targets the Company has developed with its successful EIS drill funding, means exciting times for the Narryer team in coming months,” Managing Director Dr Gavin England said.

“The other aspect of Rocky Gully that Narryer is keen to explore is its scandium potential, with limited drill assays demonstrating grades > 500 ppm Sc2O3 . With the recent sale of the Platina Resources Australian scandium asset to Rio Tinto for US$14 million, and Rio Tino beginning scandium production in Canada, Narryer sees value in further investigating critical mineral opportunities at Rocky Gully,”

NYM’s Australian Stock Exchange-listed share price has risen 9.09 per cent today, currently selling at 12c (1:41 pm UTC+ 8 hours).

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