Narryer Metals: High-Grade REE and Scandium Confirm Potential at Rocky Gully
NYM (NYM) Share Update November 2024 Tuesday 19th
Narryer Metals Unveils Promising Discoveries at Rocky Gully
Narryer Metals Limited (ASX:NYM) has announced significant findings from their recent drilling at the Rocky Gully project in Western Australia, revealing high-grade rare earth elements (REE) and scandium mineralization.
Instant Summary:
- Extensive scandium mineralization over 1,400m in strike and 800m wide.
- High-grade REE intersections with assays over 1% TREO.
- Newly identified vanadium and gallium mineralization.
- Potential for a larger carbonatite mineralized system.
Drilling Results
The recent aircore drilling at the Ivar Prospect within the Rocky Gully project has unveiled extensive near-surface scandium mineralization stretching over 1,400 meters in strike and 800 meters in width. This makes it an attractive prospect for low-cost strip mining. Additionally, high-grade REE intersections have been reported, with assays exceeding 1% Total Rare Earth Oxides (TREO), which include high-value magnet rare earths such as Neodymium, Praseodymium, Dysprosium, and Terbium.
Alongside these findings, the company has identified vanadium and gallium mineralization, adding potential value to the project. The mineralization is hosted in unconsolidated regolith clays, which is favorable for low-cost processing.
Potential for Carbonatite System
The results suggest the presence of a significant new critical minerals discovery, potentially linked to a larger carbonatite system within the project area. The mineralization is analogous to known carbonatite and alkaline magmatic complexes found in regions such as the Kola Peninsula in Russia, northern Europe, and China.
The company plans to conduct further drilling to extend high-grade zones and initiate metallurgical studies to explore low-cost extraction methods.
The discovery of high-grade REE and scandium at Rocky Gully is a significant development for Narryer Metals, potentially increasing the project's value and attracting investor interest. The presence of multi-commodity mineralization, including vanadium and gallium, further enhances the project's potential. This could positively impact Narryer's stock, as investors may view these findings as a promising step towards a larger mineralized system.
Investor Reaction:
Analysts are likely to view these results positively, given the high grades and the potential for a larger carbonatite system. The market may react favorably to the news, considering the strategic importance of REE and scandium in modern technologies.
Conclusion:
Investors should keep a close eye on Narryer Metals as the company progresses with further exploration and metallurgical studies. The promising results from Rocky Gully could lead to significant developments in the critical minerals sector.